The following is a summary of the Aware, Inc (AWRE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Aware reported Q1 revenue of $4.4 million, a 3% increase from the previous year, primarily driven by higher software maintenance revenue.

• Recurring revenue for Q1 2024 was $3.2 million or 71% of total revenue, up by 3% compared to the same quarter previous year.

• Operating expenses reached $5.7 million, marking an 8% year-over-year decrease.

• Aware improved operating loss by approximately 32% year-over-year to $1.3 million.

• The company's cash and equivalents at the end of the quarter stood at $28.5 million.

Business Progress:

• The company onboarded new customers from Latin America and expanded use cases with current ones, laying the foundation for consistent recurring revenue.

• They forecast double-digit revenue and recurring revenue growth for 2024 backed by a strong opportunity pipeline and partner acquisition.

• Aware has focused on accelerating product-market fit for AwareID to generate incremental subscription-based revenue.

• The company is finalizing three potential contracts that demonstrate the versatility of its biometric identity platform.

• The company has entered the gaming market and integrated with Woocommerce, opening new targets and potential for expansion.

• Interest in biometric solutions is on the rise, which Aware seeks to take advantage of for further growth.

More details: Aware IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.