• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Log In
  • Member Registeration
  • Account
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Aware Sees Subscription Momentum in Q1 Update

April 28, 2021

Aware Sees Subscription Momentum in Q1 Update

Aware, Inc. has issued its results for the first quarter of 2021, showing a “strong topline performance”, in the words of CEO Bob Eckel.

Revenues were up year-over-year, coming in at $4.4 million for the quarter ended March 31, 2021, compared to revenues of $3.5 million in the first quarter of 2020.

Aware has also shrunk its net loss sequentially. In the fourth quarter of 2020, Aware saw a net loss of $1.6 million, which came down to a net loss of $1.4 million in the most recent quarter. Its net loss for Q1 last year, however, amounted to just $1.1 million.

In any case, Aware’s transition to a subscription-based revenue model appears to be delivering some results. The company’s executives have stressed the importance of this long-term effort in recent corporate updates, and Aware is now reporting that subscription revenues are “already approaching FY2020 levels”.

For his part, Bob Eckel credited Aware’s Q1 performance to the company’s “continued success transforming our business to a more subscription and consumption-based model, as demonstrated by our 5x year-over-year increase in subscription revenue,” adding that Aware’s recent acquisition of AFIX and its partnership with Intercede were also important developments.

“Our new model enables us to deliver solutions at any scale—whether it’s for local law enforcement agencies or the largest financial institutions—and benefit from high margins, SaaS-like revenues and robust retention rates,” Eckel said.

Eckel also highlighted the ongoing success of Knomi, Aware’s mobile biometric onboarding solution, asserting that it processed a record number of transactions during the quarter. That’s helping to set Aware up for anticipated “material growth by the end of the year,” he said.

The update arrives about a month after Aware’s announcement of changes to the roster of its Board of Directors.

–

April 28, 2021 – by Alex Perala

Related News

  • ImageWare Shows Lower Revenues, Improved Bottom Line in Q1 UpdateImageWare Shows Lower Revenues, Improved Bottom Line in Q1 Update
  • SuperCom Issues First Quarterly Update Since 2019SuperCom Issues First Quarterly Update Since 2019
  • Aware’s Subscription Model Brings in More Revenue in Q1 ReportAware’s Subscription Model Brings in More Revenue in Q1 Report
  • Aware Displays Dramatic Year-Over-Year Improvement in Q2 ReportAware Displays Dramatic Year-Over-Year Improvement in Q2 Report
  • FaceTec Sees 321 Percent Revenue Jump in Q1 UpdateFaceTec Sees 321 Percent Revenue Jump in Q1 Update
  • YOUNiQ Helps Precise Weather Volatile Mobile MarketYOUNiQ Helps Precise Weather Volatile Mobile Market

Filed Under: News, Stocks Tagged With: Aware Inc., Biometric, biometric onboarding, biometrics, corporate news, Knomi, Q1 2021, Q1 reports, Q1 updates, quarterly updates

Primary Sidebar

Identity is Shaping Air Travel – Time to Invest

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

HID logo

HID powers the trusted identities of the world’s people, places and things. Our trusted identity solutions give people convenient and secure access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people use HID products to navigate their everyday lives, and billions of things are connected through HID technology. https://www.hidglobal.com/

Recent Posts

  • AU10TIX Re-tools Identity Solutions Portfolio to Reach New Clients
  • Apple’s Getting Into Iris Recognition – Identity News Digest
  • HID eBook Shows How to Elevate the Passenger Journey With Biometrics
  • Tatra Bank Offers Innovatrics’ Selfie Onboarding System to Partners
  • Jumio Warns of Consumer ‘Overconfidence’ in Battle Against Deepfakes

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics