From GlobeNewswire: 2024-05-02 16:06:00

Aware, Inc. (NASDAQ: AWRE) reports financial results for Q1 2024 with a 3% increase in total revenue, totaling $4.4 million. Recurring revenue increased by 3% to $3.1 million. Operating expenses decreased by 8% year-over-year. The company expects to deliver double-digit revenue growth in 2024, reaffirming confidence in growth and cost optimization initiatives.

Operational highlights include expanding technology use within a major federal government agency, broadening footprint in Latin America and Turkey with new customer acquisitions, and showcasing authentication solutions at major conferences. Aware’s balance sheet remains strong with $28.5 million in cash as of March 31, 2024. The company continues to focus on sustainable growth and operational efficiencies.

Financial results show a net loss of $1.0 million in Q1 2024, an improvement of 30% compared to the same period in 2023. Adjusted EBITDA loss for Q1 2024 was $1.0 million, reflecting lower operating expenses. Cash, cash equivalents, and marketable securities totaled $28.5 million as of March 31, 2024. Aware’s revenue was $4.4 million, with recurring revenue at $3.145 million, a 3% increase year-over-year.

Aware will host a webcast on May 2, 2024, at 5:00 p.m. Eastern time to discuss financial results and business updates. Interested parties can register on the company’s website. Aware, a global biometric identity platform company, leverages data science, machine learning, and AI to solve business challenges. With a focus on ethical and responsible biometric technology, Aware aims to provide secure and frictionless user experiences for clients in various sectors.



Read more at GlobeNewswire:: Aware Reports First Quarter 2024 Financial Results