ImageWare has issued its corporate update for the second quarter of this year.
Compared to Q2 of 2015, the company saw lower revenues, at $1.0 million against $1.7 million. ImageWare also saw a net loss of $2.1 million this quarter, compared to a loss of $1.8 million a year ago.
Commenting on the results, ImageWare CEO Jim Miller highlighted the company’s progress in affirming partnerships over the quarter, pointing to its deal with Telos Corporation and an expansion of its dealings with Fujitsu, which has agreed to bring ImageWare’s GoVerifyID platform to its RunMyProcess platform.
Looking ahead, Miller suggested that the recent appointment of tech industry veteran Dana Kammersgard to ImageWare’s Board of Directors would allow the company to leverage important industry contacts and to take advantage of Kammersgard’s expertise in growth. He also highlighted the company’s “five-year OEM agreement with a major mobile ID management provider” in Q3.
“Given the growing commercial adoption for biometrics across a wide range of industries, we continue to believe we are well positioned to grow and scale our business in the out years,” said Miller.
Together with CFO Wayne Wetherell, Miller hosted a conference call discussing these results yesterday.
August 10, 2016 – by Alex Perala