Aware’s Q4 Update Reports Steady Growth

“…the company attributed the growth mostly to “higher service sales”, with “higher software maintenance sales and lower costs” also playing a role.”

Aware, Inc. has posted its results for the quarter ended December 31st, showing steady growth.

The company saw revenues of $4.1 million in the quarter, compared to $3.1 million in Q4 of 2017. Aware also reports a net income of $0.6 million for the quarter, compared to a net loss of $0.6 million a year ago.

For the full fiscal year of 2018, Aware saw a net income of $1.2 million, up from a net income of $1.0 million in 2017.

In a statement announcing the results, the company attributed the growth mostly to “higher service sales”, with “higher software maintenance sales and lower costs” also playing a role. Elaborating further, Aware CEO Kevin Russell said the company saw “a large license sale” of its Knomi mobile biometric authentication solution, as well as multiple other licenses to smaller companies, in 2018. And he added that his team was “pleased” about the company’s major contract win with the UK government.

“As we look to the future, we continue to be encouraged by the interest in and the worldwide opportunities for our biometric solutions in the government, commercial and mobile markets,” Russell said.

(Originally posted on FindBiometrics)