Aware posts Q1 revenue $4.3M, net loss $1.6M; expects 15% growth in 2023

AWARE INC /MA/

2023-Q1 EPS reported -$0.07 revenue$4,305,000

Revenue $4.3M (up 6% QoQ, down 9% YoY); recurring revenue $3.1M (71%, up 17% sequentially).
Net loss $1.6M ($0.07 diluted EPS) vs $1.3M loss ($0.06) in Q1 2022.
Adjusted EBITDA loss $1.4M vs $0.6M loss in prior year.
Guidance: expect total revenue and ARR growth at least 15% in 2023, neutral-to-positive cash flow by year-end.
Repurchased 191k shares at $1.79 avg; cash and equivalents $27.3M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AWARE INC /MA/ reported the first quarter ended March 31, 2023 results: revenue $4.3 million, net income $(0.07) per diluted share, EPS $(0.07) per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $4.3 million
Net income: $(0.07) per diluted share
EPS: $(0.07) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Aware Reports First Quarter 2023 Financial Results Total Revenue increased 6% Quarter-Over-Quarter to $4.3 Million

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Source: SEC EDGAR

accession 0000950170-23-016666

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