ImageWare has issued its Q1 results for 2016 in a new corporate update.
As anticipated, the company used the opportunity to highlight recent major business developments including new client FEMSA, the approval of three new US patents, and the company’s acceptance into the Amazon Web Services Partner Network, for which it is now actively preparing to launch a new SaaS version of its flagship GoVerifyID platform.
But ImageWare also announced a new development – its partnership with TransUnion, which will integrate GoVerifyID into its ID Manager authentication product. In a statement, CEO Jim Miller explained that “thanks to the ID Manager product, our ‘pay-as-you-go, scale-as-you need’ offering will allow quick deployment and no upfront infrastructure setup costs, reducing two significant barriers to entry” into the small-to-medium-sized enterprise market. Miller also highlighted “great progress in the sales process” with respect to Aruba’s ClearPass Policy Manager, with the HPE company’s sales team and resellers currently learning about the platform’s integration of GoVerifyID.
Looking to fiscal results, ImageWare’s revenues remain steady at $1 million, as compared to Q1 in 2015. Its net loss also roughly matches that of Q1 last year, at $2.3 million. But given the company’s progress with respect to partners and the impending AWS launch of GoVerifyID, those figures could see some change in corporate updates to come.
May 11, 2016 – by Alex Perala