Aware Q1 revenue $4.4M (+3% YoY); net loss narrows to $1.0M; reaffirms 2024 growth outlook

AWARE INC /MA/

2024-Q1 EPS reported -$0.05 revenue$4,421,000

Revenue of $4.4M (+3% YoY); recurring revenue $3.1M (71% of total), up 3% YoY.
Net loss $1.0M ($0.05 per share), improved from $1.6M loss ($0.07 per share) in Q1 2023.
Adjusted EBITDA loss $1.0M vs. $1.4M loss a year ago; operating expenses down 8% YoY to $5.7M.
Cash and marketable securities $28.5M at March 31, 2024, down from $30.9M at Dec 31, 2023.
Reaffirms expectation for double-digit revenue and ARR growth in FY 2024; cost optimization measures expected to lower breakeven.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AWARE INC /MA/ reported first quarter ended March 31, 2024 results: revenue $4.4 million, net income Net loss for the first quarter of 2024 totaled $1.0 million, EPS $(0.05) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $4.4 million
Net income: Net loss for the first quarter of 2024 totaled $1.0 million
EPS: $(0.05) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2024 was $4.4 million, compared to $4.3 million in the same year-ago period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Period: first quarter ended March 31, 2024
Revenue: $4.4 million
Net income: Net loss for the first quarter of 2024 totaled $1.0 million
EPS: $(0.05) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

for the first quarter ended March 31, 2024. First Quarter 2024 and Recent Operational Highlights Year 2023 Financial Highlights • Total revenue increased 3% year-over-year to $4.4 million. • Recurring revenue increased 3% year-over-year to $3.1 million (or 71% of total revenue), underscoring the Company’s continued drive to secure and expand its recurring revenue

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Source: SEC EDGAR

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