“… Aware is continuing to invest in the development of its biometric solutions and that the company’s team remains encouraged by market interest in its offerings, particularly Knomi.”
Aware Inc. has posted its results for the second quarter, ended June 30th.
The biometrics specialist saw revenues of $3 million during the quarter, compared to revenues of $3.8 million in Q2 of last year. Its net result was a loss of $0.9 million, compared to a net loss of $0.2 million a year ago.
In announcing the results, the company attributed the decline in revenues to lower sales of its biometrics and imaging software licenses, and lower services revenue. The declines were offset to some extent by lower total costs.
Commenting further on the results in a statement, Aware CEO Kevin Russell was frank in asserting that they “did not meet our expectations,” but emphasized the cyclical nature of Aware’s business. “Our quarterly revenue and earnings fluctuate based on the timing of the delivery of licenses and services for projects,” he said. “Financial results this quarter reflect these fluctuations.”
Russell added that Aware is continuing to invest in the development of its biometric solutions and that the company’s team remains encouraged by market interest in its offerings, particularly Knomi. The mobile biometric authentication platform received FIDO UAF 1.1 certification last September, and has been a highlight among Knomi’s product offerings since its launch in the autumn of 2017.
August 9, 2019 – by Alex Perala