Aware reports Q2 2022 revenue $4.2M, net loss $1.3M; recurring revenue grows to 56% of total

AWARE INC /MA/

2022-Q2 EPS reported -$0.12 revenue$8,930,000

Revenue of $4.2M, down from $4.3M in Q2 2021, driven by macro and supply chain delays.
Net loss of $1.3M ($0.06 per diluted share) vs. $1.5M loss in Q2 2021; adjusted EBITDA loss $0.8M.
Recurring revenue was 56% of total H1 2022, up >50% from H1 2021, reflecting subscription transition.
Completed sale of Bedford, MA office for net proceeds of $8.6M in July 2022, strengthening balance sheet.
Cash and equivalents $25.0M at June 30, 2022, prior to building sale proceeds.

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