BURLINGTON, Mass., May 30, 2024 (GLOBE NEWSWIRE) -- Over the past few years, businesses and consumers across the globe have been delighted and terrified by the emergence of artificial intelligence (AI). The technology no longer needs an introduction to consumers. Further, it has evolved beyond a software buzzword into a strategic investment area for businesses and has been accepted by consumers through user-friendly applications on their devices. Alarmingly, the usage and manipulation of AI-based software f ...

VANCOUVER, British Columbia, May 17, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce its participation in Consensus 2024 alongside Bot Ventures Inc. (“Bot Ventures”), where they will unveil an early demonstration of their innovative decentralized identity and domain name system. This platform utilizes Bitcoin blockchain technology to enhance online security and trust through de ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $4.4 million, a 3% increase from $4.3 million in the same period last year, driven by higher software maintenance revenue [17] - Recurring revenue for Q1 2024 was $3.2 million, representing 71% of total revenue and a 3% increase year-over-year [17] - Operating loss improved approximately 32% year-over-year to $1.3 million compared to $1.9 million in Q1 of the previous year [18] - GAAP net loss for Q1 2024 totaled $1 million, or $0.05 per diluted share, a 30% improvement from a net loss of $1.6 million, or $0.07 per diluted share, in Q1 2023 [18] - Cash, cash equivalents, and marketable securities totaled $28.5 million as of March 31, 2024, down from $30.9 million as of December 31, 2023 [19] Business Line Data and Key Metrics Changes - Subscription maintenance revenue increased by 18% due to contracts secured in Q3 2023, contributing significantly to total revenue growth [14] - The company expanded its recurring revenue customer base, resulting in a 3% year-over-year increase in both total and recurring revenue [14] Market Data and Key Metrics Changes - Aware successfully onboarded new customers in Latin America, including Imply and OpenPass, and expanded use cases with existing customers such as a major federal government agency and a leading Turkish bank [15][24] - The company renewed and expanded a significant multiyear contract with a large international police organization in Europe, indicating growth in border management and immigration markets [23] Company Strategy and Development Direction - Aware aims to achieve double-digit revenue and annual recurring revenue growth in 2024, supported by an expanding pipeline of opportunities and increasing partner acquisition momentum [28] - The company plans to strengthen its offerings as a biometric solutions provider by delivering industry sector-specific solutions and enhancing its partner ecosystem [29] - Aware is focused on driving profitability, expanding its recurring revenue base, and delivering exceptional value to shareholders over the long term [20] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of cost optimization initiatives, which have significantly streamlined the cost structure and lowered the revenue breakeven point [41] - The company remains committed to evaluating high ROI opportunities that align with its long-term vision while focusing on organic growth [20][43] - Management expressed confidence in achieving sustainable growth and positive cash flow due to a robust financial standing and a healthy pipeline of opportunities [28] Other Important Information - Aware's technology is recognized for its ability to minimize bias based on age, gender, or race, as independently tested and verified by NIST [9] - The company has launched a marketing development fund program to support partners in promoting Aware technology, covering up to 50% of select marketing activity costs [36] Q&A Session Summary Question: Context around the rapid turnaround with the Turkish bank - The expedited timeline was due to a knowledgeable partner in Turkey, a motivated customer, and Aware's understanding of the market needs [32] Question: Nature of subscription renewal delays - Delays were largely due to the timing of revenue recognition, with a significant reorder expected to complete in Q2 instead of Q1 [34] Question: Details on the market development funds initiative - The MDF program supports partners' marketing efforts, covering up to 50% of select marketing activity costs to foster lead generation [36] Question: Factors driving substantial improvement in operating loss - Improvement reflected success in cost optimization initiatives, including a reduction in headcount and strategic investments in high-growth areas [41] Question: Capital allocation strategy with $29 million cash position - The company is evaluating opportunities for scalability but remains focused on accelerating organic growth in the meantime [43] Question: Outlook for 2024 following strong 2023 performance - Aware anticipates continuing momentum with a target of double-digit growth in both revenue and annual recurring revenue [45] Question: Role of partnerships in gaining more U.S. customers - Partnerships are crucial for expanding the customer base, particularly in the access control market [49] Question: Changes in competitive dynamics over the last six months - Aware has entered new markets, such as gaming, and is focusing on building integrations to enhance competitive advantage [51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 OR ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission file number 000-21129 AWARE, INC. (Exact Name of Registrant as Specified in Its Charter) Massachusetts 04-2911026 | --- | --- | --- | | ...

Revenue Performance - Total revenue for Q1 2024 increased by 3% year-over-year to $4.4 million, driven by higher software maintenance revenue[3]. - Recurring revenue for Q1 2024 was $3.145 million, reflecting a 3% increase compared to $3.062 million in Q1 2023, representing 71% of total revenue[3][7]. - Total revenue for the three months ended March 31, 2024, was $4,421,000, an increase from $4,374,000 in the previous quarter[23]. - Total recurring revenue reached $3,145,000, compared to $3,675,000 in the prior quarter, showing a decline[23]. - Non-recurring revenue increased significantly to $1,276,000 from $699,000 in the prior quarter[23]. - Total software maintenance revenue was $2,160,000, slightly down from $2,183,000 in the previous quarter[23]. Operating Performance - Operating expenses decreased by $0.5 million, or 8% year-over-year, to $5.7 million, highlighting ongoing cost optimization efforts[3]. - Net loss for Q1 2024 was $1.0 million, or $(0.05) per diluted share, a 30% improvement from a net loss of $1.6 million, or $(0.07) per diluted share, in Q1 2023[8]. - Adjusted EBITDA loss for Q1 2024 was $1.0 million, an improvement from an adjusted EBITDA loss of $1.4 million in the same period last year[8]. - Net loss for the three months ended March 31, 2024, was $982,000, an improvement from a loss of $4,238,000 in the previous quarter[22]. - Adjusted EBITDA improved to $(960,000) from $(1,218,000) in the previous quarter[22]. - Stock-based compensation decreased to $162,000 from $428,000 in the previous quarter[22]. - Interest income showed a slight improvement, with a loss of $(280,000) compared to $(303,000) in the previous quarter[22]. Strategic Initiatives - Aware expanded its customer base in Latin America and Turkey, onboarding new clients including a Brazilian company and a leading bank in Turkey[4]. - The company anticipates delivering double-digit revenue and ARR growth in 2024, supported by an expanding pipeline of opportunities[2][7]. - Aware's technology is now utilized by a major federal government agency for biometric data enrollment, enhancing its presence in the government sector[3][6]. - The company has implemented strategic cost-optimization initiatives, including a reduction of over 10% in headcount, to streamline operations and lower the revenue breakeven point[6]. Cash Position - Cash, cash equivalents, and marketable securities totaled $28.5 million as of March 31, 2024, down from $30.9 million as of December 31, 2023[8].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 OR ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 Commission file number 000-21129 AWARE, INC. (Exact Name of Registrant as Specified in Its Charter) Massachusetts 04-2911026 (Sta ...

Aware, Inc. (NASDAQ:AWRE) Q4 2023 Earnings Conference Call March 12, 2024 5:00 PM ET Company Participants Matt Glover - Gateway Investor Relations Robert Eckel - Chief Executive Officer & President David Traverse - Principal Financial Officer Craig Herman - Chief Revenue Officer Conference Call Participants Matt Glover Good afternoon, and welcome to Aware's Fourth Quarter and Full Year 2023 Conference Call. Joining us today is the company's CEO and President, Robert Eckel; Principal Financial Officer, David ...

Full Year Total Revenue Grew 14% to $18.2 Million, Marking Highest Level Since 2016 Annual Recurring Revenue (ARR) increased 23% to Record $12 Million, Exceeding Total Revenue Reported at Beginning of Transformation in FY 2020 BURLINGTON, Mass., March 12, 2024 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ:AWRE), a global biometric platform company that uses data science, machine learning, and artificial intelligence to tackle everyday business and identity challenges through biometrics, today reported financial r ...

Revenue Growth - Total revenue for the full year 2023 increased 14% to $18.2 million, the highest level since 2016[3] - Annual Recurring Revenue (ARR) reached a record $12 million, up 23% from $9.7 million in 2022[3] - Recurring revenue grew to a record $11 million, representing over 200% growth since 2019[3] - Fourth quarter total revenue increased 8% year-over-year to $4.4 million, compared to $4.1 million in Q4 2022[5] - Fourth quarter recurring revenue surged 40% year-over-year to $3.7 million, up from $2.6 million in Q4 2022[10] - Total revenue for the twelve months ended December 31, 2023, was $18,244,000, compared to $16,008,000 in 2022, representing a growth of about 13.9%[28] Financial Performance - Net loss for the fourth quarter of 2023 was $4.2 million, or $(0.20) per diluted share, impacted by a $2.7 million write-off related to Omlis Limited[10] - Adjusted EBITDA for the three months ended December 31, 2023, was $(1,218,000), compared to $(1,497,000) for the same period in 2022, showing an improvement of approximately 18.7%[27] - The company reported a net loss of $(4,238,000) for the three months ended December 31, 2023, compared to a net loss of $(1,758,000) in the same period of 2022[27] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $30.9 million as of December 31, 2023, an increase of $1.9 million from $29 million in 2022[3] - Total assets decreased to $46,296,000 as of December 31, 2023, down from $51,192,000 in 2022, representing a decline of approximately 9.3%[22] - Total stockholders' equity fell to $34,298,000 in 2023, down from $40,209,000 in 2022, indicating a decrease of about 14.7%[22] Revenue Composition - Software subscriptions revenue rose to $1,492,000 in Q4 2023, compared to $782,000 in Q4 2022, reflecting an increase of approximately 90%[28] - Non-recurring revenue for the three months ended December 31, 2023, was $699,000, down from $1,437,000 in 2022, indicating a decline of approximately 51.4%[28] - The deferred revenue increased to $5,537,000 in 2023, up from $3,733,000 in 2022, which is an increase of approximately 48.3%[22] Strategic Initiatives - Aware launched new AwareID® functionality and a developer hub to enhance biometric technology adoption[7] - The company aims to expand its partnerships and customer relationships to enhance product-market fit in 2024[9] - The company expects to continue incurring expenses related to the adjustments made in arriving at adjusted EBITDA, indicating ongoing operational challenges[25]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 OR ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _________ to _________ Commission file number 000-21129 AWARE, INC. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | |--------------------- ...