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|Company Contact:||Investor Contact:|
|Gina Rodrigues||Matt Glover|
|Aware, Inc.||Gateway Investor Relations|
Aware Reports Third Quarter 2020 Financial Results
31% Sequential Increase in Revenue and continued Growth in its Subscription Revenue
BEDFORD, MASS. – Oct. 27, 2020 – Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software products, solutions and services, today reported financial results for the third quarter and nine months ended September 30, 2020.
Third Quarter 2020 and Recent Operational Highlights
|·||Implemented a mobile fused face and voice biometric system via Knomi® to support the authentication of more than 100,000 offenders in the state of Arkansas.|
|·||Affirmed Knomi’s industry leadership by passing iBeta Presentation Attack Detection (PAD) testing levels 1 & 2 with perfect accuracy and tripling the number of Knomi customers.|
|·||Surpassed 10 million transactions protected by Knomi worldwide and released Knomi D version 2.7.3, an enhanced version of the on-device variant of Knomi.|
Third Quarter 2020 Financial Results
Revenue for the third quarter of 2020 was $2.5 million, compared to $1.9 million in the second quarter of 2020 and $3.0 million in the same year-ago period. The 31% sequential increase in revenue was primarily due to higher software license revenue. The year-over-year decrease in revenue was primarily due to lower software license and services revenue associated with temporary delays caused by COVID-19.
The following information was filed by Aware Inc (AWRE) on Tuesday, October 27, 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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