Aware Inc (AWRE) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AWRE SEC filings page.
Aware Inc (AWRE) reported $16.4M in revenue over the twelve months to Jun 30, 2026, up 1.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A high-gross-margin business spends heavily on development and overhead, leaving reported profits disconnected from recurring operating cash.
Across FY2023–FY2025, positive net income coexisted with operating cash flow moving from$1.8M to-$5.4M , so bottom-line earnings are not a reliable proxy for cash produced by the core business. The gap is especially important because FY2025 free cash flow was-$5.6M versus operating cash flow of-$5.4M , showing that cash weakness was already present before capital spending.
In FY2025, gross margin was
From FY2021 to FY2025, assets contracted
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Aware Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Aware Inc has an operating margin of -37.9%, meaning the company loses $38 on every $100 of revenue. This results in a profitability score of 29/100. This is down from -31.9% the prior year.
Aware Inc's revenue declined 0.6% year-over-year, from $17.4M to $17.3M. This contraction results in a growth score of 22/100.
Aware Inc has a moderate D/E ratio of 0.42. This balance of debt and equity financing earns a leverage score of 63/100.
With a current ratio of 3.77, Aware Inc holds $3.77 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 86/100.
Aware Inc's operations used $5.4M of cash, and capex of $165K added to the outflow, for a free cash flow shortfall of $5.6M. This results in a cash flow score of 8/100.
Aware Inc generates a 22.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 26/100. This is up from 14.3% the prior year.
Aware Inc scores -1.12, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($21.8M) relative to total liabilities ($11.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Aware Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Aware Inc used $0.92 of operating cash (-$5.4M OCF vs $5.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Aware Inc generated $3.3M in revenue in Q2 2026. This represents a decrease of 16.5% from the same quarter a year earlier. Against the prior quarter it is down 3.9%.
Aware Inc's EBITDA was -$2.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 43.0% from the same quarter a year earlier. Against the prior quarter it is up 26.0%.
Aware Inc reported -$2.6M in net income in Q2 2026. This represents a decrease of 45.0% from the same quarter a year earlier. Against the prior quarter it is up 25.8%.
Aware Inc earned -$0.12 per diluted share (EPS) in Q2 2026. This represents a decrease of 50.0% from the same quarter a year earlier. Against the prior quarter it is up 25.0%.
Cash & Balance Sheet
Aware Inc recorded an outflow of $2.8M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 140.1% from the same quarter a year earlier. Against the prior quarter it is down 3.2%.
Aware Inc held $2.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Aware Inc's gross margin was 84.0% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 9.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.1 percentage points.
Aware Inc's operating margin was -84.2% in Q2 2026, reflecting core business profitability. This is down 33.8 percentage points from the same quarter a year earlier.
Aware Inc's net profit margin was -78.8% in Q2 2026, showing the share of revenue converted to profit. This is down 33.4 percentage points from the same quarter a year earlier.
Aware Inc's ROE was -12.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.7 percentage points.
Capital Allocation
Aware Inc invested $2.5M in research and development in Q2 2026. This represents an increase of 29.2% from the same quarter a year earlier. Against the prior quarter it is down 21.4%.
Aware Inc repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
AWRE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.3M-16.5% | $3.4M-6.2% | $4.7M-2.8% | $5.1M+33.3% | $3.9M-9.9% | $3.6M-18.4% | $4.8M+9.7% | $3.8M-39.7% |
| Cost of Revenue | $520K+94.8% | $334K+93.1% | $392K+1963.2% | $491K+81.9% | $267K-1.1% | $173K-37.3% | $19K-92.1% | $270K-34.1% |
| Gross Profit | $2.7M-24.6% | $3.1M-11.1% | $4.3M-10.7% | $4.6M+29.6% | $3.6M-10.5% | $3.4M-17.1% | $4.8M+15.6% | $3.6M-40.1% |
| R&D Expenses | $2.5M+29.2% | $3.2M+67.7% | $2.3M+24.6% | $2.1M+13.8% | $2.0M+5.0% | $1.9M-11.9% | $1.8M-17.1% | $1.9M-17.3% |
| SG&A Expenses | $1.6M-6.6% | $1.7M-2.8% | $1.8M-29.1% | $1.7M+29.0% | $1.7M+16.0% | $1.7M+27.6% | $2.6M+37.9% | $1.3M-17.7% |
| Operating Income | -$2.7M-39.7% | -$3.6M-97.1% | -$1.4M+1.8% | -$1.3M+11.7% | -$2.0M-46.2% | -$1.9M-46.8% | -$1.5M+67.1% | -$1.5M-296.4% |
| EBITDA | -$2.6M-43.0% | -$3.5M-105.6% | -$1.3M+1.9% | -$1.2M+13.1% | -$1.8M-51.4% | -$1.7M-52.1% | -$1.3M+69.3% | -$1.3M-249.5% |
| Income Tax | $1K-96.2% | $8K+14.3% | $219K+22000.0% | $5K-66.7% | $26K-33.3% | $7K | -$1K-101.7% | $15K |
| Net Income | -$2.6M-45.0% | -$3.5M-116.4% | $10.3M+34.2% | -$1.1M+9.8% | -$1.8M-62.3% | -$1.6M-62.7% | $7.7M-26.2% | -$1.2M-202.0% |
| EPS (Basic) | -$0.12-50.0% | -$0.16-100.0% | -$0.07-16.7% | -$0.05+16.7% | -$0.08-60.0% | -$0.08-60.0% | -$0.06+70.0% | -$0.06-220.0% |
| EPS (Diluted) | -$0.12-50.0% | -$0.16-100.0% | -$0.07-16.7% | -$0.05+16.7% | -$0.08-60.0% | -$0.08-60.0% | -$0.06+70.0% | -$0.06-220.0% |
| Diluted Shares (Avg) | 22M+1.4% | 22M+1.5% | N/A | 21M+0.1% | 21M+1.2% | 21M+0.9% | N/A | 21M+0.3% |
Not reported in any period shown, so not listed: Interest Expense.
AWRE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $29.6M-22.3% | $33.2M-16.8% | $37.2M-12.8% | $40.3M-7.9% | $38.1M-11.9% | $39.9M-11.5% | $42.6M-7.9% | $43.7M-12.9% |
| Current Assets | $21.1M-26.7% | $24.5M-19.5% | $28.3M-14.3% | $31.2M-7.7% | $28.8M-13.0% | $30.4M-12.7% | $33.0M-7.9% | $33.8M-8.0% |
| Cash & Equivalents | $2.9M-60.8% | $4.6M-45.9% | $7.3M-44.0% | $6.3M-43.9% | $7.3M-36.6% | $8.5M-40.9% | $13.0M+29.7% | $11.2M+97.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $1.9M-22.2% | $2.4M-15.4% | $3.0M+3.0% | $6.2M+53.8% | $2.5M-31.8% | $2.8M-24.7% | $2.9M+19.1% | $4.0M-38.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% | $3.1M0.0% |
| Total Liabilities | $9.0M-10.8% | $10.3M-1.1% | $11.1M-5.9% | $13.0M+10.2% | $10.0M-5.4% | $10.4M-10.7% | $11.7M-2.1% | $11.8M-3.9% |
| Current Liabilities | $5.7M-10.0% | $6.9M+4.8% | $7.5M-4.6% | $9.3M+18.6% | $6.3M-3.0% | $6.6M-11.4% | $7.9M+4.2% | $7.8M-0.3% |
| Non-Current Liabilities | $3.3M-12.1% | $3.4M-11.1% | $3.6M-8.5% | $3.8M-6.3% | $3.8M-9.2% | $3.9M-9.4% | $3.9M-12.7% | $4.0M-10.2% |
| Total Equity | $20.6M-26.4% | $22.9M-22.3% | $26.1M-15.4% | $27.2M-14.6% | $28.1M-14.0% | $29.5M-11.8% | $30.9M-9.9% | $31.9M-15.8% |
| Retained Earnings | -$81.8M-11.6% | -$79.3M-10.8% | -$75.8M-8.4% | -$74.4M-8.2% | -$73.3M-8.5% | -$71.5M-7.6% | -$69.9M-6.8% | -$68.8M-12.2% |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
AWRE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M-140.1% | -$2.7M+8.9% | $1.0M+53.1% | -$2.4M-207.6% | -$1.2M-72.3% | -$2.9M-21.9% | $683K-77.7% | -$765K-131.1% |
| Depreciation & Amortization | $140K-2.1% | $139K-3.5% | $141K0.0% | $144K+1.4% | $143K+2.1% | $144K+3.6% | $141K0.0% | $142K+2.2% |
| Stock-Based Compensation | $321K-16.0% | $269K+49.4% | N/A | $342K+55.5% | $382K+57.2% | $180K+9.8% | N/A | $220K-38.7% |
| Capital Expenditures | $0 | $0-100.0% | $120K | $0 | $0 | $45K | $0 | $0 |
| Free Cash Flow | -$2.8M-140.1% | -$2.7M+10.3% | $926K+35.6% | -$2.4M-207.6% | -$1.2M | -$3.0M | $683K-77.7% | -$765K-131.1% |
| Investing Cash Flow | $1.0M+3025.0% | -$16K+99.0% | -$120K-109.6% | $1.3M+2943.2% | $32K+101.9% | -$1.5M-122.7% | $1.3M0.0% | $44K+12.8% |
| Financing Cash Flow | $47K+234.3% | $0+100.0% | $51K+127.7% | $6K+146.2% | -$35K | -$53K | -$184K-4700.0% | -$13K+89.7% |
| Share Buybacks | $0-100.0% | $0-100.0% | $0 | $0 | $62K | $53K | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
AWRE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.0%-9.1pp | 90.1%-5.1pp | 91.6%-8.0pp | 90.4%-2.6pp | 93.2%-0.6pp | 95.2%+1.4pp | 99.6%+5.1pp | 93.0%-0.6pp |
| Operating Margin | -84.2%-33.8pp | -107.8% | -31.1%-0.3pp | -25.3%+12.9pp | -50.3%-19.3pp | -51.3%-22.8pp | -30.8% | -38.1%-49.8pp |
| Net Margin | -78.8%-33.4pp | -102.1% | 220.8% | -20.5%+9.8pp | -45.4%-20.2pp | -44.3%-22.1pp | 159.9% | -30.3%-48.3pp |
| Return on Equity | -12.4%-6.1pp | -15.1%-9.7pp | 39.4%+14.5pp | -3.9%-0.2pp | -6.3%-3.0pp | -5.4%-2.5pp | 24.8%-5.5pp | -3.7%-6.7pp |
| Return on Assets | -8.7%-4.0pp | -10.4%-6.4pp | 27.7%+9.7pp | -2.6%+0.1pp | -4.6%-2.1pp | -4.0%-1.8pp | 18.0%-4.4pp | -2.7%-5.0pp |
| Current Ratio | 3.73-0.9x | 3.56-1.1x | 3.77-0.4x | 3.36-1.0x | 4.59-0.5x | 4.64-0.1x | 4.19-0.6x | 4.32-0.4x |
| Debt-to-Equity | 0.43+0.1x | 0.45+0.1x | 0.420.0x | 0.48+0.1x | 0.360.0x | 0.350.0x | 0.380.0x | 0.370.0x |
| Asset Turnover | 0.110.0x | 0.100.0x | 0.130.0x | 0.130.0x | 0.100.0x | 0.090.0x | 0.110.0x | 0.090.0x |
| FCF Margin | -84.9%-55.4pp | -79.1%+3.7pp | 19.9%+5.6pp | -45.9%-26.0pp | -29.5% | -82.7% | 14.2%-55.8pp | -19.9%-58.4pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Aware Inc AWRE | FY2025 | $17.3M | $5.9M | 34.0% | $21.8M | 39/100 |
| VirTra, Inc. VTSI | FY2025 | $22.4M | $258K | 1.1% | $30.4M | 59/100 |
| mF International Limited MFI | FY2025 | $4.3M | $10.1M | N/A | $451.6M | 38/100 |
| Hitek Global Inc. HKIT | FY2025 | $6.5M | $180K | 2.8% | $22.7M | 50/100 |
| Phunware, Inc. PHUN | FY2025 | $2.6M | -$11.4M | N/A | $43.2M | 50/100 |
| Roadzen, Inc. RDZN | FY2026 | $55.0M | -$22.5M | -40.9% | $96.2M | 30/100 |
Where Aware Inc Ranks
Frequently Asked Questions
What is Aware Inc's annual revenue?
Aware Inc (AWRE) reported $17.3M in total revenue for fiscal year 2025. This represents a -0.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Aware Inc's revenue growing?
Aware Inc (AWRE) revenue declined by 0.6% year-over-year, from $17.4M to $17.3M in fiscal year 2025.
Is Aware Inc profitable?
Yes, Aware Inc (AWRE) reported a net income of $5.9M in fiscal year 2025, with a net profit margin of 34.0%.
What is Aware Inc's EBITDA?
Aware Inc (AWRE) had EBITDA of -$6.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Aware Inc's gross margin?
Aware Inc (AWRE) had a gross margin of 92.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Aware Inc's operating margin?
Aware Inc (AWRE) had an operating margin of -37.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Aware Inc's net profit margin?
Aware Inc (AWRE) had a net profit margin of 34.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Aware Inc's return on equity (ROE)?
Aware Inc (AWRE) has a return on equity of 22.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Aware Inc's free cash flow?
Aware Inc (AWRE) recorded an outflow of $5.6M in free cash flow during fiscal year 2025. This represents a -73.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Aware Inc's operating cash flow?
Aware Inc (AWRE) recorded an outflow of $5.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Aware Inc's total assets?
Aware Inc (AWRE) had $37.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Aware Inc's capital expenditures?
Aware Inc (AWRE) invested $165K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Aware Inc spend on research and development?
Aware Inc (AWRE) invested $8.3M in research and development during fiscal year 2025.
What is Aware Inc's current ratio?
Aware Inc (AWRE) had a current ratio of 3.77 as of fiscal year 2025, which is generally considered healthy.
What is Aware Inc's debt-to-equity ratio?
Aware Inc (AWRE) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Aware Inc's return on assets (ROA)?
Aware Inc (AWRE) had a return on assets of 15.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Aware Inc's P/E ratio?
Aware Inc (AWRE) trades at 6.8x earnings, its market capitalization divided by net income of $3.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $21.8M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Aware Inc's price-to-sales ratio?
Aware Inc (AWRE) trades at 1.3x sales, its market capitalization divided by revenue of $16.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $21.8M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Aware Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Aware Inc (AWRE) held $7.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.4M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Aware Inc's Altman Z-Score?
Aware Inc (AWRE) has an Altman Z-Score of -1.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Aware Inc's Piotroski F-Score?
Aware Inc (AWRE) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Aware Inc's earnings high quality?
For every $1 of reported earnings, Aware Inc (AWRE) used $0.92 of operating cash (-$5.4M OCF vs $5.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Aware Inc?
Aware Inc (AWRE) scores 39 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.