Aware, Inc. has issued its results for Q1, ended March 31st, showing a strong year-over-year improvement.
Revenues came in at $3.7 million, compared to revenues of $2.9 million in the first quarter of 2018. And Aware saw a net income of $228,000 for the latest quarter, compared to a loss of $495,000 in Q1 of last year.
Aware attributed the improved revenues to higher software license sales, income from a patent arrangement with a third party, and higher revenues from services, with CEO Kevin Russell emphasizing the latter in his comments on the results, asserting that much of it came from recent contract wins. “We are optimistic about our prospects in 2019, but we are unable to predict when opportunities will result in revenue,” Russell added.
Russell also highlighted “the high level of interest and activity being generated” by Aware’s Knomi solution, particularly in the enterprise and mobile sectors. Knomi is an SDK package designed to enable biometric facial and voice recognition on a standard mobile device, with on-device storage of users’ biometric data.
Such solutions appear to be increasingly popular as the mobile biometrics revolution continues to unfold, which bodes well for Aware’s prospects going forward into 2019.
May 3, 2019 – by Alex Perala