Aware Reports Third Quarter Financial Results
Key Highlights
- ➤Q3 revenue $4.4 million, down from $5.1 million year over year
- ➤Recurring revenue rose to approximately $4.0 million from $3.6 million
- ➤Operating expenses fell to $5.4 million from $6.4 million year over year
- ➤Q3 net loss narrowed to $0.8 million, or $0.04 per diluted share
- ➤Cost reductions expected to generate approximately $4.0 million in annualized savings
Expert Statements
Ajay Amlani, CEO and President of Aware
“Third-quarter revenue was $4.4 million, compared with $5.1 million in the prior-year period and recurring revenue grew to approximately $4.0 million from approximately $3.6 million a year ago”
Ajay Amlani, CEO and President of Aware
“While we made progress in several important areas, improving revenue consistency remains a priority as we work to translate the opportunities in front of us into more predictable financial performance.”
Ajay Amlani, CEO and President of Aware
“During the quarter, Aware was selected by a government agency customer to deploy Intelligent Liveness capabilities from the Awareness Platform. This represents a new government agency engagement and gives us an opportunity to demonstrate how biometric orchestration and Intelligent Liveness can support high-assurance identity environments”
Ajay Amlani, CEO and President of Aware
“Since funding for most of the Department of Homeland Security was restored, we have seen increased solicitation activity for the biometric identity programs we pursue, as agencies look to allocate funding to improve national security, modernize legacy biometric and identity systems, and improve user experiences. While federal procurement cycles remain difficult to predict, converting our new federal government engagement into an active customer represents meaningful progress.”
Ajay Amlani, CEO and President of Aware
“We are encouraged by the progress we are seeing across both customer expansion and recurring revenue”
Ajay Amlani, CEO and President of Aware
“While recurring revenue can fluctuate from quarter to quarter, increasing the recurring component of the business over time should help create a more durable revenue foundation.”
Ajay Amlani, CEO and President of Aware
“Reducing expenses alone is not the objective”
Ajay Amlani, CEO and President of Aware
“We need to pair a more efficient cost structure with stronger and more consistent revenue performance. Our strategy remains centered on the Awareness Platform and its biometric orchestration capabilities, helping organizations more easily deploy, manage and modernize biometric identity systems.”
Ajay Amlani, CEO and President of Aware
“Our focus as we close 2026 and enter 2027 is execution”
Ajay Amlani, CEO and President of Aware
“We need to expand the customers we already have, convert the opportunities we are pursuing, improve the quality and durability of our revenue, and remain disciplined about where we invest.”
BURLINGTON, Mass., Oct. 28, 2026 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ: AWRE), a global leader in biometric orchestration, today reported financial results for the third quarter ended September 30, 2026.
Third Quarter 2026 Operational Highlights * Selected by a government agency customer to deploy Intelligent Liveness capabilities from the Awareness Platform, marking an important step forward for the platform’s use in high-assurance identity environments. * Established a new commercial relationship with Adobe Acrobat Sign's distributor, with new customer activity in Latin America. * Realized the impact of cost-reduction actions implemented earlier in 2026, actions expected to generate approximately $4.0 million in annualized savings, contributing to a reduction in operating loss compared with the prior-year period. Management Commentary
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