Financial Performance - Total revenue for Q1 2025 was $3.6 million, a decrease of 18.2% from $4.4 million in Q1 2024[6] - Recurring revenue was $2.7 million, down 14.6% from $3.1 million in Q1 2024[6] - Net loss for Q1 2025 was $1.6 million, compared to a net loss of $1.0 million in Q1 2024[8] - Adjusted EBITDA loss for Q1 2025 was $1.5 million, compared to an adjusted EBITDA loss of $1.0 million in Q1 2024[9] - Cash, cash equivalents, and marketable securities totaled $24.8 million as of March 31, 2025, down from $27.8 million as of December 31, 2024[10] - Software licenses revenue was $1.3 million, a decline of 38.7% from $2.1 million in Q1 2024[18] - Total operating expenses were $5.5 million, slightly reduced from $5.7 million in Q1 2024[6] Strategic Initiatives - Aware appointed Brian Krause as Chief Revenue Officer to enhance commercial execution and go-to-market strategies[4] - The company aims to expand its presence in the U.S. commercial market and government sector while enhancing its biometric technology platform[3] - Aware is engaged in discussions with Fortune 500 companies to explore strategic growth opportunities[3]
Aware(AWRE) - 2025 Q1 - Quarterly Results