Core Viewpoint - Aware, Inc. is navigating a transitional phase while focusing on long-term growth strategies, including strengthening leadership and enhancing its market approach [2][4]. Financial Results - Revenue for Q1 2025 was $3.6 million, down from $4.8 million in Q4 2024 and $4.4 million in Q1 2024, primarily due to lower software licenses revenue [6][10]. - The net loss for Q1 2025 was $1.6 million, or $(0.08) per diluted share, compared to a net loss of $1.2 million, or $(0.06) per diluted share in Q4 2024 and a net loss of $1.0 million, or $(0.05) per diluted share in Q1 2024 [7][10]. - Adjusted EBITDA loss for Q1 2025 was $1.5 million, compared to a loss of $0.8 million in Q4 2024 and a loss of $1.0 million in Q1 2024, attributed to lower total revenue [8][10]. Operational Highlights - The company is focusing on scaling its presence in the U.S. commercial market and expanding in the U.S. government sector [3]. - Aware is enhancing its biometric technology platform and integrating complementary solutions, with ongoing discussions with Fortune 500 companies [3][4]. - The leadership team has been strengthened with the appointment of Brian Krause as Chief Revenue Officer to accelerate commercial execution [10]. Balance Sheet - As of March 31, 2025, cash, cash equivalents, and marketable securities totaled $24.8 million, down from $27.8 million as of December 31, 2024 [9][10]. - Total assets were $39.9 million as of March 31, 2025, compared to $42.6 million as of December 31, 2024 [18][19]. Revenue Breakdown - Recurring revenue for Q1 2025 was $2.7 million, down from $3.1 million in Q1 2024 [10][24]. - Non-recurring revenue was $924,000 in Q1 2025, compared to $1.3 million in Q1 2024 [10][24].
Aware Reports First Quarter 2025 Financial Results