Aware, Inc. Sees Upswing in Q2 Revenues, Income

Biometric solutions provider Aware, Inc. has posted its Q2 results for 2016.

Aware, Inc. Sees Upswing in Q2 Revenues, IncomeThings are looking up. Compared against the second quarter of 2015, the company’s revenues increased 53 percent, rising from $4.5 million to $6.9 million. Aware’s net income is also up, at $1.4 million compared to $0.3 million in Q2 of 2015.

Looking at the first half of the year as a whole, the company’s revenues were up 36 percent against the first half of 2015, at $11.7 million against $8.6 million; and its net income rose from $0.6 million to $2.1 million.

In a statement announcing the results, the company credited the improvements mostly to “a 2015 medical imaging software sale that is being recognized over the period October 2015 to October 2016” and “a large biometrics license sale to a U.S. government military customer in the second quarter” – presumably its newly-announced deal to provide biometric identification technology to the US Marines.

Commenting on the results, Aware CEO Rick Moberg said his team expects that the US military client “may purchase additional licenses in the future,” but cautioned that “revenue and operating income have fluctuated significantly from quarter to quarter in the past and that this pattern is likely to continue in the future.” Still, Moberg added, “we believe that over longer periods of time we will continue to generate satisfactory levels of earnings and cash.”

July 27, 2016 – by Alex Perala