Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $3.9 million, down from $4.3 million in the prior year, primarily due to the timing of perpetual license sales [15] - Recurring revenue increased by 2% year-over-year to $2.7 million, attributed to higher software maintenance [15] - Operating loss was $2 million compared to a loss of $1.3 million in the same period last year [16] - GAAP net loss was $1.8 million or $0.08 per diluted share, compared to a net loss of $1.1 million or $0.05 per diluted share in the prior year [16] - Adjusted EBITDA loss for Q2 was $1.4 million, worsening from a loss of $1 million in the previous year [17] - For the first six months of 2025, total revenue was $7.5 million, down from $8.7 million in 2024 [17] Business Line Data and Key Metrics Changes - The company is focusing on enhancing its awareness platform, which integrates best-in-class biometric algorithms into a single solution [9] - Improvements in facial matching speed and mobile face capture reliability were noted, enhancing user experience [9][21] - The company secured national ID programs for two Middle Eastern governments, indicating growth in the federal space [13] Market Data and Key Metrics Changes - Aware was recognized as a luminary in core identity technology, highlighting its capabilities in deepfake detection and liveness [8] - The company is seeing increased demand for biometric solutions in both commercial and government sectors, particularly in law enforcement [23] Company Strategy and Development Direction - The strategic transformation focuses on building a scalable business grounded in operational rigor and differentiated technology [4] - The company aims to deepen strategic partnerships across public and commercial sectors, enhancing its visibility and alignment with government priorities [12] - Aware is positioning itself as a trusted biometric infrastructure partner for governments and enterprises, emphasizing continuous product innovation [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about early traction from foundational work in go-to-market strategy and leadership additions, expecting improved revenue performance as 2025 progresses [19] - The company is focused on purposeful investments aimed at accelerating deployments and strengthening customer experience [28] - Management highlighted the importance of federal government work and law enforcement as key growth levers for the future [32] Other Important Information - The company welcomed a new Chief Marketing Officer to enhance brand visibility and accelerate pipeline velocity [10] - Aware's cash, cash equivalents, and marketable securities totaled $23.7 million as of June 30, 2025, down from $27.8 million at the end of 2024, indicating a well-capitalized position [18] Q&A Session Summary Question: Insight on Aware's partnership with Leidos following FBI task order announcement - Management expressed excitement about ongoing investments by the US federal government in the biometric industry and looks forward to participating in these growth opportunities [30] Question: Revenue expectations for 2025 and influencing factors - Management views 2025 as a period of progress, focusing on pipeline advancement and customer onboarding, but remains cautious about revenue timing [31] Question: Key revenue growth levers for 2026 and beyond - Key growth levers include federal government work, law enforcement market expansion, and increasing interest in biometric technology in the commercial market [32][34] Question: Steps to accelerate subscription-based business - The company continues to invest in its go-to-market process and teams, focusing on scalable biometric projects and solutions [35] Question: Improving sales cycle velocity and current bottlenecks - Management emphasized strengthening the end-to-end sales process and aligning closely with customer requirements to reduce time to value [36] Question: Trends in global government biometric deployments - Management highlighted significant opportunities in federal government issued digital identities and the growing demand for biometrics in global travel [38][42] Question: Current pipeline and deal flow compared to the first quarter - Management noted significant acceleration in pipeline volume and value, with expectations for revenue acceleration in the second half of the year [47] Question: Customer and revenue retention rates - Retention rates remain consistent with previous years, with ongoing focus on improving customer relationship management [49] Question: Notable recent RFP wins or losses - Management refrained from commenting on specific projects but noted high market activity and validation of their technology [50][51] Question: Aware's M&A pipeline - The company is focused on internal execution and investments rather than external M&A to drive growth [52]

RESTON, Va., July 29, 2025 /PRNewswire/ -- Leidos (NYSE: LDOS) was awarded a $128 million task order by the FBI to provide agile software development and modernization for the Next Generation Identification (NGI) system, the bureau's biometric and criminal history repository. NGI's repository of biometric and criminal history information enables more advanced investigative capabilities for the FBI and other law enforcement and intelligence agencies. The FBI's Criminal Justice Information Services (CJIS) div ...

Core Insights - Fingerprint Cards AB (FPC) has announced the extension of its iris recognition software license to Mantra Softech India Private Limited, enhancing Mantra's capabilities in the Indian market and supporting its expansion into emerging markets [1][4]. Company Overview - Mantra Softech is recognized as a leader in the Indian biometrics industry, focusing on innovation and expanding its product offerings [2][8]. - The company has a valuation of $70 million and employs a team of 700 engineers and domain experts [8]. Collaboration Details - The partnership between FPC and Mantra began in 2021 with a multi-year license deal, which has now been extended to allow for broader integration of FPC's iris technology into Mantra's devices [3][4]. - The iris recognition technology from FPC is noted for its high security and convenience, capable of operating over long distances on cost-effective hardware [3]. Target Applications - The extended license will enable Mantra to utilize FPC's iris solutions in various applications, including: - Public Distribution System/NREGA for beneficiary verification [6] - Banking and financial security for transaction authentication [6] - SIM card distribution for customer verification [6] - Government and national ID systems for secure identity verification [6] - Healthcare management for access control to sensitive information [6] - Border control and immigration for traveler authentication [6]. Market Impact - The collaboration aims to enhance security solutions across multiple sectors, including airports, classrooms, and industrial environments, thereby raising the standard for trust and convenience in identity verification [5][8].