Aware Inc. ( (AWRE) ) has released its Q4 earnings. Here is a breakdown of the information Aware Inc. presented to its investors.
Aware, Inc. is a global biometric platform company based in Burlington, Massachusetts, specializing in data science and machine learning to solve business and identity challenges through biometrics. The company operates in the technology sector, offering secure and frictionless user experiences for government and commercial enterprises worldwide.
In its latest earnings report, Aware, Inc. announced a 5% decrease in total revenue for the full year 2024, amounting to $17.4 million. However, the company saw a 9% increase in recurring revenue, reaching $12.0 million. Notably, the net loss improved significantly by 39% to $4.4 million, compared to the previous year.
Key financial metrics for the fourth quarter of 2024 showed a 10% increase in total revenue to $4.8 million, driven by higher software license revenue. The net loss for the quarter decreased by 72% to $1.2 million. Additionally, the adjusted EBITDA loss improved by 32% to $0.8 million, reflecting better operational efficiency.
Looking ahead, Aware’s management, under the new leadership of CEO Ajay Amlani, is focused on refining its strategy to capitalize on the expanding biometric security market. The company aims to strengthen partnerships, advance technology, and maintain a disciplined execution to achieve long-term growth, despite anticipated near-term revenue fluctuations.
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