Biometrics solutions provider Aware, Inc. has issued its Q4 and 2015 year-end results, showing signs of growth over the previous year.
It was a strong fourth quarter compared to that of 2014. Revenues increased from $4.3 million to a little over $6.9 million, with only a marginal increase in costs, which were about $4.36 million against a little over $4 million in 2014. Net income for Q4 in 2014 came to $239,000, whereas this latest quarter it had reached $1.8 million.
Looking to the year-end totals, both revenues and costs were down, but net income saw an increase, rising from $4,583,000 in 2014 to reach $4,614,000 this past year. Moreover, a multimillion dollar licensing fee to a US government healthcare entity could not fully be incorporated into Aware’s Q4 revenues, with a maintenance component compelling those earnings to be spread across the year between October 2015 and this coming October; as such, the company recorded only $0.9 million from that deal, with $3.6 million deferred to 2016.
Commenting in a statement, Aware, Inc. CEO Rick Moberg called it “an excellent quarter” on the basis of the medical imaging deal as well as two other new customers who bought Aware software, adding that if the company could have included the former in its Q4 earnings, its revenues would have surpassed $10.5 million. Moberg added that the company’s “sales sales pipeline going into 2016 looks promising with a variety of opportunities,” though he noted it would be difficult to predict exactly when those opportunities would generate revenues.
“All in all, we are optimistic about the opportunities in the market and our position, including our product portfolio and ability to deliver services,” he said.
February 10, 2016 – by Alex Perala