• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • 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

ImageWare Improves Bottom Line Amid ‘Transformative’ Changes

April 22, 2021

ImageWare Improves Bottom Line Amid 'Transformative' Changes

ImageWare has issued its Q4 and full-year update for fiscal 2020, showing signs of progress in its ongoing corporate overhaul.

Revenues for the fourth quarter were down 20 percent year-over-year, but for the full fiscal year, they were up 36 percent, rising from $3.5 million in 2019 to $4.8 million in 2020.

The company also improved its net results. Q4 saw an income of $979,000, compared to a net loss of $4.5 million in Q4 of 2019. For the full year, ImageWare saw a net loss of $10.9 million, way down from a net loss of $17.3 million in 2019.

“While the past twelve months have been nothing short of transformative for our business, we are still in the middle of an ongoing progression that will take some time before we can realize our vision for ImageWare 2.0,” commented CEO Kristin Taylor.

The “transformative” changes to which Taylor refers are manifold. The ambitious executive has made a number of high-level executive appointments, helped to bring in millions in financial backing, and steered the launch of ImageWare Authenticate, a rebrand of the company’s flagship biometric enterprise security platform.

It’s all part of a long-term organizational refresh, and Taylor emphasized the long view in her commentary.

“Recognizing the many moving parts and long-term initiatives we have in process, our financial results will continue to fluctuate in the near term before translating to sustainable, improved sales,” she said. “Demand for cybersecurity solutions within the public safety, federal government and enterprise verticals continue to grow, and we are working to build a team, solutions, and strategy to capitalize on this opportunity while addressing an essential need in the modern world.”

Taylor went on to note that ImageWare is placing a stronger focus on sales through a multifaceted strategy that includes “upgrading” its sales team and a industry-specific targeted business development program, adding, “we expect to see improved bookings and sales results beginning in the second half of 2021.”

ImageWare’s corporate update was delivered alongside a conference call on April 20. A telephonic replay of the call will become available after 7:30 p.m. ET on April 27, 2021.

–

April 22, 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
  • ImageWare Frees Up Shares for New Executive Hires in Latest Corporate UpdateImageWare Frees Up Shares for New Executive Hires in Latest Corporate Update
  • Imageware Embarks Upon Strategic Review, With Imperial Capital as AdvisorImageware Embarks Upon Strategic Review, With Imperial Capital as Advisor
  • New ImageWare Advisory Board Hints at Expansion Into Automotive BiometricsNew ImageWare Advisory Board Hints at Expansion Into Automotive Biometrics
  • ImageWare Aims for Stronger Financial Oversight With Latest Board AppointmentImageWare Aims for Stronger Financial Oversight With Latest Board Appointment
  • BIO-key Reports Massive Revenue Jump in Q4/2020 UpdateBIO-key Reports Massive Revenue Jump in Q4/2020 Update

Filed Under: News, Stocks Tagged With: Biometric, biometrics, corporate strategy, corporate updates, enterprise biometrics, executive changes, government biometrics, ImageWare, ImageWare Authenticate, Q4 2020, Q4 updates

Primary Sidebar

EXCLUSIVE MEMBERS ONLY CONTENT:

Become a FindBiometrics Member and gain easy access to specialty content, including the ID Tech column, replays of virtual events, and Identity School educational checklists:

ID TECH: What Role Will Biometrics Play in the Cyber Cold War? We’re About to Find Out [NEW]

Identity School: Facial Recognition Cheat Sheet

REPLAY: Travel & Hospitality Virtual Identity Summit

Sponsored Links

TECH5 showcase 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

Onfido logo

Onfido is building the new identity standard for the internet.Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.. For more information, please visit www.onfido.com

ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark’s AI-powered technology and behavioral biometrics to build secured banking experience to precisely verify their legitimate users, seamlessly across all digital channels. All while securing the users’ most precious assets and keeping the fraudsters away. Learn more: www.threatmark.com/

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

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.

Recent Posts

  • Alleged Trump Conspirator Says FBI ‘Forced’ Biometric iPhone Unlock
  • AU10TIX Prevents $2 Billion Worth of Fraud
  • Nigerian State to Start Biometric Driver Registration
  • India Bringing Biometric Screening to Seven Airports
  • Web3 Gets Its First Smartphone, Featuring Biometric Authentication

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 © 2022 FindBiometrics