Aware, Inc. (NASDAQ:AWRE) Q4 2021 Earnings Conference Call March 1, 2022 5:00 PM ET Company Participants Matt Glover - Gateway Group Robert Eckel - President, CEO & Director David Barcelo - CFO & Treasurer Conference Call Participants Matt Glover Good afternoon, and welcome to Aware's Fourth Quarter and Full Year 2021 Earnings Conference Call. Joining us today is the company's CEO and President, Robert Eckel; and CFO, David Barcelo. [Operator Instructions]. Before we begin today's call, I'd like to remind e ...

Aware, Inc. (NASDAQ:AWRE) Q3 2021 Earnings Conference Call October 26, 2021 5:00 PM ET Company Participants Matt Glover - Investor Relations Robert Eckel - President and Chief Executive Officer David Barcelo - Chief Financial Officer Conference Call Participants Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assis ...

Aware, Inc. (NASDAQ:AWRE) Q2 2021 Earnings Conference Call July 27, 2021 5:00 PM ET Company Participants Matt Glover – Investor Relations Robert Eckel – President and Chief Executive Officer David Barcelo – Chief Financial Officer Conference Call Participants Matt Glover Good afternoon, and welcome to Aware’s Second Quarter 2021 Earnings Conference Call. Joining us today is the company’s CEO and President, Robert Eckel; and CFO, David Barcelo. Following their remarks, we will open the call for questions. [O ...

Aware, Inc. (NASDAQ:AWRE) Q1 2021 Earnings Conference Call April 27, 2021 5:00 PM ET Company Participants Matt Glover – Investor Relations Robert Eckel – Chief Executive Officer and President David Barcelo – Chief Financial Officer Conference Call Participants Matt Glover Good afternoon, and welcome to Aware’s First Quarter 2021 Earnings Conference Call. Joining us today is the company’s CEO and President, Robert Eckel; and CFO, David Barcelo. Following their remarks, we will open the call for questions. [O ...

Revenue Performance - Total revenue for 2020 was $11.3 million, a decrease from $12.2 million in 2019, primarily due to lower services revenue [100]. - Software license revenue increased by 9% from $4.6 million in 2019 to $5.0 million in 2020, representing 45% of total revenue in 2020 compared to 38% in 2019 [102]. - Software maintenance revenue rose by 3% from $5.3 million in 2019 to $5.4 million in 2020, accounting for 48% of total revenue in 2020 [104]. - Services revenue decreased by 64% from $2.3 million in 2019 to $0.8 million in 2020, dropping to 7% of total revenue [106]. Expenses - Research and development expenses increased by 8% from $7.9 million in 2019 to $9.1 million in 2020, representing 87% of total revenue [112]. - Selling and marketing expenses surged by 50% from $3.6 million in 2019 to $5.4 million in 2020, making up 48% of total revenue [115]. - General and administrative expenses rose by 51% from $3.6 million in 2019 to $5.4 million in 2020, also 48% of total revenue [116]. Operating Loss - Operating loss for 2020 was $9.4 million, compared to a loss of $4.1 million in 2019 [100]. - Cash used by operating activities was $5.3 million in 2020, primarily due to a net loss of $7.6 million [122]. Cash Position - Cash and cash equivalents at the end of 2020 were $38.6 million, expected to fund operations for at least the next twelve months [126]. Financial Reporting and Accounting - The company does not have any off-balance sheet arrangements with unconsolidated entities, thus avoiding exposure to financing, liquidity, market, or credit risk [128]. - Revenue is recognized based on the transfer of control of promised goods and services, following the five-step model outlined in ASC 606 [130]. - Revenue is categorized into software licenses, software maintenance, and services, with software licenses recognized at a point in time upon delivery [131]. - As of December 31, 2020, the company had $8.7 million in deferred tax assets, fully offset by a valuation allowance of $8.7 million [141]. - The company adopted ASU No. 2019-12 on January 1, 2020, which simplified the accounting for income taxes without resulting in adjustments to financial statements [143]. - The company is assessing the impact of ASU 2016-13 on its consolidated financial statements, which changes the methodology for measuring credit losses [144]. Stock-Based Compensation - Stock-based compensation is measured at grant date fair value and recognized as an expense over the vesting period [136]. - The company uses the Black-Scholes model to estimate the fair value of stock options, considering various significant assumptions [137]. Revenue Recognition - Revenue from software maintenance is recognized over time on a straight-line basis over the contract period [131]. - The company makes judgments regarding the allowance for doubtful accounts based on a review of significant outstanding invoices [142].