Earnings ·
Aware reports Q3 revenue of $4.4M, net loss of $0.8M as operating expenses drop to $5.4M
AWREAware Inc
Aware reported third-quarter revenue of $4.4 million, down from $5.1 million in the prior-year period, with recurring revenue growing to approximately $4.0 million from $3.6 million a year ago. Operating expenses decreased to $5.4 million from $6.4 million due to cost-reduction actions expected to generate $4.0 million in annualized savings. The company posted a net loss of $0.8 million, or $0.04 per diluted share, compared with a $1.1 million loss in the prior-year quarter. Aware ended the quarter with approximately $15.4 million in cash and no debt. The company is a global leader in biometric orchestration and identity solutions.