Revenue Performance - Total revenue for the full year 2024 decreased by 5% to $17.4 million from $18.2 million in 2023[5] - Recurring revenue for the full year 2024 increased by 9% to $12.0 million compared to $11.0 million in 2023[5] - Fourth quarter 2024 revenue increased by 10% year-over-year to $4.8 million compared to $4.4 million in Q4 2023[5] - Total recurring revenue for Q4 2024 was $3,296 thousand, down 10.3% from $3,675 thousand in Q4 2023[31] - Total revenue for Q4 2024 increased to $4,797 thousand, compared to $4,374 thousand in Q4 2023, representing an increase of 9.6%[31] - Total revenue for the twelve months ended December 31, 2024 was $17,389 thousand, a decrease of 4.7% from $18,244 thousand in 2023[31] Profitability and Loss - Net loss for the full year 2024 improved by 39% to $4.4 million from $7.3 million in 2023[5] - Fourth quarter 2024 net loss decreased by 72% year-over-year to $1.2 million compared to $4.2 million in Q4 2023[5] - The net loss for Q4 2024 was $(1,192) thousand, an improvement from $(4,238) thousand in Q4 2023[29] - Adjusted EBITDA loss for the full year 2024 improved by 15% to $3.9 million compared to $4.6 million in 2023[5] - Adjusted EBITDA for Q4 2024 was $(829) thousand, an improvement from $(1,218) thousand in Q4 2023[29] - Adjusted EBITDA loss for the fourth quarter 2024 improved by 32% to $0.8 million compared to $1.2 million in Q4 2023[10] Cash and Securities - Cash and cash equivalents and marketable securities totaled $27.8 million at the end of 2024, down from $30.9 million at the end of 2023[13] Share Repurchase - The company repurchased 137,051 shares at a cost of $0.2 million during the year[5] Strategic Focus - Aware is focusing on strengthening key partnerships and accelerating technology advancements to capitalize on the expanding market opportunity in biometric security[7] Stock-Based Compensation - Stock-based compensation for the twelve months ended December 31, 2024 was $1,132 thousand, down 25.7% from $1,525 thousand in 2023[29] Future Expectations - The company expects to continue incurring expenses similar to those reflected in the adjusted EBITDA calculations[27]
Aware(AWRE) - 2024 Q4 - Annual Results