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FOR IMMEDIATE RELEASE
Aware, Inc. Reports Second Quarter 2020
BEDFORD, MASS. – July 28, 2020 – Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, today reported financial results for its second quarter ended June 30, 2020.
Revenue for the second quarter of 2020 was $1.9 million compared to $3.0 million in the same quarter last year. Operating loss in the second quarter of 2020 was $3.7 million compared to operating loss of $1.2 million in the second quarter of 2019.
The decrease in revenue in the current three-month period as compared to the corresponding period last year was primarily due to lower license and services revenue associated with implementation and procurement delays caused by the COVID-19 pandemic. The higher operating loss in the current three-month period as compared to the corresponding period last year resulted primarily from the aforementioned decrease in revenue and an increase in operating expenses, including previous investments in sales and engineering resources driving growth in new product areas and expenses related to turnover of executive administrative personnel and COVID-19.
Net loss in the second quarter of 2020 was $3.1 million, or $0.15 per diluted share, which compares to a net loss of $0.9 million, or $0.04 per diluted share, in the same period a year ago.
Aware, Inc. • 40 Middlesex Turnpike • Bedford, MA USA 01730-1432
Tel: (781) 276-4000 • Fax: (781) 276-4001 • E-mail: IR@aware.com
The following information was filed by Aware Inc (AWRE) on Tuesday, July 28, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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