Business
Aware Reports Third Quarter 2021 Financial Results
Quarterly Revenue Grew 69% Year over Year, Fifth Consecutive Quarter of Record Knomi™ Transactions BEDFORD, Mass., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Aware,
About this update from Aware, Inc.
[{"type":"text","content":"Quarterly Revenue Grew 69% Year over Year, Fifth Consecutive Quarter of Record Knomi™ Transactions BEDFORD, Mass., Oct. 26, 2021 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software products, solutions and services, today reported financial results for the third quarter ended September 30, 2021. Third Quarter 2021 and Recent Operational Highlights Revenue for the first nine months of 2021 exceeded total fiscal year 2020 revenue.Recorded 12 million transactions protected by Knomi™ worldwide in the third quarter of 2021, bringing the total number of transactions YTD to 31 million compared to 11 million transactions in all of 2020.Increased presence in Europe and Latin America by adding new customers and renewing commitments with existing customers, demonstrating the value of the Knomi solution among financial service institutions.Spotlighted the ability of Knomi to meet the high demand for touchless authentication solutions in the wake of the COVID-19 pandemic.Expanded business development and marketing activities through the return of in-person demonstrations at Connect:ID, Identity Week London, and the IAI Annual Educational Conference to showcase leading biometric and digital identity solutions in real-time situations.Enhanced Aware’s thought leadership position in biometrics by publishing several articles in industry trade outlets, including Security Magazine, Airport Technology, Biometric Update and SecurityInfoWatch. Third Quarter 2021 Financial ResultsRevenue for the third quarter of 2021 was $4.2 million, compared to $4.3 million in the second quarter of 2021 and $2.5 million in the same year-ago period. The year-over-year increase in revenue was primarily the result of higher subscription-based revenue related to an increase in transaction volume from existing customers and initiation of Knomi contracts with new customers, as well as higher license revenue from our fixed-fee contracts. Net loss in the third quarter of 2021 totaled $1.6 million, or $(0.07) per diluted share, which compares to a net loss of $1.5 million, or $(0.07) per diluted share, in the second quarter of 2021 and net loss of $1.8 million, or $(0.08) per diluted share, in the same year-ago period. Adjusted EBITDA loss (a non-GAAP metric reconciled below) for the third quarter of 2021 was $1.0 million, compared to adju...