Aware Reports Third Quarter and Nine-Month 2025 Financial Results
Aware (NASDAQ: AWRE) reported third quarter 2025 results: Q3 revenue $5.1M (+33% YoY), net loss $1.1M (or $(0.05) per diluted share), and adjusted EBITDA loss $0.8M (improved from $1.1M).
Highlights include FIDO Alliance certification for Face Verification (October), launch of Intelligent Liveness, expansion with a major U.S. federal agency, and a new financial services customer. Cash and marketable securities were $22.5M as of September 30, 2025. Nine-month revenue was $12.6M; nine-month adjusted EBITDA loss widened to $3.8M.
Aware (NASDAQ: AWRE) ha riportato i risultati del terzo trimestre 2025: fatturato Q3 5,1 milioni di dollari (+33% YoY), perdita netta di 1,1 milioni di dollari (ovvero $(0,05) per azione diluita) e perdita EBITDA rettificata di 0,8 milioni (migliorata rispetto a 1,1 milioni).
I punti salienti includono la certificazione FIDO Alliance per Face Verification (ottobre), il lancio di Intelligent Liveness, l'espansione con una grande agenzia federale degli Stati Uniti e un nuovo cliente nel settore dei servizi finanziari. La cassa e i titoli negoziabili ammontavano a 22,5 milioni di dollari al 30 settembre 2025. Il fatturato dei primi nove mesi è stato di 12,6 milioni; l'EBITDA rettificato dei nove mesi è aumentato a una perdita di 3,8 milioni.
Aware (NASDAQ: AWRE) informó resultados del tercer trimestre de 2025: ingresos del 3T 5,1 millones de USD (+33% YoY), pérdida neta de 1,1 millones de USD (o $(0,05) por acción diluida), y pérdida de EBITDA ajustado de 0,8 millones de USD (mejoró respecto a 1,1 millones).
Los aspectos destacados incluyen la certificación de FIDO Alliance para Face Verification (octubre), el lanzamiento de Intelligent Liveness, la expansión con una gran agencia federal estadounidense y un nuevo cliente en servicios financieros. La posición de efectivo y valores negociables fue de 22,5 millones de USD al 30 de septiembre de 2025. Los ingresos de los primeros nueve meses fueron 12,6 millones; la pérdida de EBITDA ajustado de los nueve meses se amplió a 3,8 millones.
Aware (NASDAQ: AWRE) 는 2025년 3분기 실적을 발표했습니다: 3분기 매출 510만 달러(+전년동기대비 33%), 순손실 110만 달러(또는 주당 희석액 $0.05), 조정 EBITDA 손실 80만 달러(이전 110만 달러 대비 개선).
하이라이트로 Face Verification을 위한 FIDO Alliance 인증(10월), Intelligent Liveness의 출시, 미국 연방기관과의 확장, 금융서비스 고객 신규 계약 등이 있습니다. 2025년 9월 30일 기준 현금 및 매각 가능 채권은 2250만 달러였습니다. 9개월 매출은 1260만 달러였고, 9개월 간 조정 EBITDA 손실은 380만 달러로 확대되었습니다.
Aware (NASDAQ: AWRE) a publié les résultats du troisième trimestre 2025 : chiffre d'affaires du T3 de 5,1 M$ (+33% YoY), perte nette de 1,1 M$ (ou $(0,05) par action diluée), et perte d'EBITDA ajusté de 0,8 M$ (améliorée par rapport à 1,1 M$).
Les points forts incluent la certification FIDO Alliance pour Face Verification (octobre), le lancement de Intelligent Liveness, l’expansion avec une grande agence fédérale américaine et un nouveau client dans les services financiers. La trésorerie et valeurs mobilières s’élevaient à 22,5 M$ au 30 septembre 2025. Le chiffre d’affaires sur neuf mois était de 12,6 M$; l’EBITDA ajusté sur neuf mois s’est aggravé pour atteindre une perte de 3,8 M$.
Aware (NASDAQ: AWRE) berichtete über die Ergebnisse des dritten Quartals 2025: Q3-Umsatz 5,1 Mio. USD (+33% YoY), Nettoverlust 1,1 Mio. USD (bzw. $(0,05) pro verwässerter Aktie) und bereinigter EBITDA-Verlust 0,8 Mio. USD (verbessert gegenüber 1,1 Mio. USD).
Highlights umfassen FIDO Alliance-Zertifizierung für Face Verification (Oktober), den Start von Intelligent Liveness, die Expansion mit einer großen US-Bundesbehörde und einen neuen Kunden im Finanzdienstleistungsbereich. Kasse und marktgängige Wertpapiere beliefen sich zum 30. September 2025 auf 22,5 Mio. USD. Neunmonatsumsatz 12,6 Mio.; neunmonatiges bereinigtes EBITDA-Verlust auf 3,8 Mio. USD angewachsen.
Aware (NASDAQ: AWRE) أبلغت عن نتائج الربع الثالث من 2025: إيرادات الربع الثالث 5.1 مليون دولار (+33% على أساس سنوي)، وخسارة صافية قدرها 1.1 مليون دولار (أو $(0.05) للسهم المخفف)، وخسارة EBITDA المعدلة 0.8 مليون دولار (تحسنت من 1.1 مليون).
تشمل النقاط البارزة شهادة FIDO Alliance لـ Face Verification (أكتوبر)، إطلاق Intelligent Liveness، التوسع مع جهة اتحادية أمريكية كبرى، وعقد عميل جديد في الخدمات المالية. بلغ النقد والاوراق المالية القابلة للتداول 22.5 مليون دولار حتى 30 سبتمبر 2025. الإيرادات خلال التسعة أشهر كانت 12.6 مليون؛ وخسارة EBITDA المعدلة خلال التسعة أشهر توسعت إلى 3.8 مليون دولار.
Aware（纳斯达克股票代码：AWRE）公布了2025年第三季度业绩：Q3 营收 510万美元（同比增长 33%），净亏损 110万美元（或每摊薄股收益 0.05 美元）、经调整后 EBITDA 亏损 80 万美元（较之前的 110 万美元有所改善）。
亮点包括面部验证的 FIDO Alliance 认证（10 月）、推出 Intelligent Liveness、与美国一家大型联邦机构的扩展合作，以及一名新的金融服务客户。截至 2025 年 9 月 30 日，现金及有价证券为 2250 万美元。九个月营收为 1260 万美元；九个月的经调整 EBITDA 亏损扩大至 380 万美元。
- Revenue +33% YoY to $5.1M in Q3 2025
- Adjusted EBITDA loss improved to $0.8M from $1.1M YoY
- FIDO Alliance certification for Face Verification in October 2025
- Launched Intelligent Liveness biometric liveness-detection capability
- Expanded federal deployment by adding Intelligent Liveness to mission-critical program
- Operating expenses increased to $6.4M from $5.3M in Q3 2024
- Cash and marketable securities declined to $22.5M from $27.8M at year-end 2024
- Nine-month adjusted EBITDA loss widened to $3.8M from $3.0M
Insights
Aware posted strong Q3 revenue growth, improved profitability metrics, and meaningful product and certification progress that support commercial traction.
Revenue rose
Certification and product milestones—FIDO Alliance certification for face verification and the launch of Intelligent Liveness—directly strengthen the product value proposition for passwordless and anti-spoofing use cases. These items materially affect commercial credibility and contract eligibility for security-conscious customers; the addition of a major U.S. federal engagement and a financial‑services customer show early commercial conversion of those capabilities.
Key dependencies and risks include the timing mix between perpetual and recurring revenue and continued operating expense growth, which have driven nine‑month revenue flatness at
Watch for updates on pipeline conversion and recurring revenue mix over the next several quarters, any commentary in the
BURLINGTON, Mass., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Aware, Inc. (NASDAQ: AWRE), a global leader in biometric identity and authentication solutions, today reported financial results for the third quarter and nine months ended September 30, 2025.
Third Quarter 2025 Financial and Recent Operational Highlights
- Revenue for the third quarter increased
33% year-over-year to$5.1 million . - Net loss improved to
$1.1 million , compared to a net loss of$1.2 million in the prior year period. - Adjusted EBITDA loss improved significantly to
$0.8 million , compared to$1.1 million in the prior year period. - Achieved FIDO Alliance Certification for Face Verification in October, positioning Aware among the first to meet FIDO's rigorous standards for secure, passwordless authentication and reinforcing its leadership in biometric security solutions.
- Launched Intelligent Liveness, Aware’s next-generation biometric liveness-detection capability that seamlessly combines passive and active methods to deliver sub-second capture speeds, cut false-negative rates by roughly
50% to our internal benchmarking, and rapidly adapt to new spoofing threats. - Expanded engagement with a major U.S. federal agency by adding Intelligent Liveness to a mission-critical biometric program.
- Added a new financial services customer adopting Aware’s biometric verification and adaptive liveness capabilities to reduce fraud and accelerate onboarding, demonstrating the success of Aware’s “land-and-expand” strategy within enterprise accounts.
Management Commentary
“In the third quarter, we delivered
Looking ahead, we remain focused on pursuing large, durable opportunities with the potential to translate into multi-year recurring revenue and product leverage. As always, quarterly results may vary based on timing, license mix, and short-term impact of government shutdown, but our long-term strategy remains unchanged. By maintaining disciplined execution, we believe we are building the foundation for sustainable growth and long-term value creation as Aware leads the next era of digital identity.”
Third Quarter 2025 Financial Results
Revenue increased
Operating expenses were
Net loss totaled
Adjusted EBITDA loss (a non-GAAP metric reconciled below) totaled
As of September 30, 2025, cash, cash equivalents, and marketable securities totaled
Nine Month 2025 Financial Results
Revenue was
Operating expenses were
Net loss totaled
Adjusted EBITDA loss (a non-GAAP metric reconciled below) totaled
Webcast
Aware management will host a webcast today, October 29, 2025, at 5:00 p.m. Eastern time to discuss these results and provide an update on business conditions. A question-and-answer session will follow management’s prepared remarks.
Date: Wednesday, October 29, 2025
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Webcast: Register Here
The presentation will be made available for replay in the investor relations section of the Company’s website. The audio recording will be available for approximately 90 days following the live event.
About Aware
Aware, Inc. (NASDAQ: AWRE) is a proven global leader in biometric identity and authentication solutions. Its Awareness Platform transforms biometric data into actionable intelligence, empowering organizations to verify identities and prevent fraud with speed, accuracy, and confidence. Designed for mission-critical enterprise environments, the platform delivers intelligent, scalable architecture, real-time insights, and reliable security—ensuring precise identification when every millisecond matters. Aware is headquartered in Burlington, Massachusetts. To learn more, visit our website or follow us on LinkedIn and X.
Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as estimates or projections of future revenue, earnings and non-recurring charges, and the growth of the biometrics markets. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements.
Risk factors related to our business include, but are not limited to: i) the changes we are implementing in our business to drive growth in our business may not be successful on the timeline we expect, or at all; ii)our operating results may fluctuate significantly and are difficult to predict; iii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contracting or fiscal policies of those governmental entities; iv) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; v) we derive a significant portion of our revenue from third party channel partners; vi) the biometrics market may not experience significant growth or our products may not achieve broad acceptance; vii) we face intense competition from other biometrics solution providers; viii) our business is subject to rapid technological change; ix) our software products may have errors, defects or bugs which could harm our business; x) our business may be adversely affected by our use of open source software; xi) we rely on third party software to develop and provide our solutions and significant defects in third party software could harm our business; xii) part of our future business is dependent on market demand for, and acceptance of, the cloud-based model for the use of software: xiii) our operational systems and networks and products may be subject to an increasing risk of continually evolving cybersecurity or other technological risks which could result in the disclosure of company or customer confidential information, damage to our reputation, additional costs, regulatory penalties and financial losses; xiv) our intellectual property is subject to limited protection; xv) we may be sued by third parties for alleged infringement of their proprietary rights; xvi) we must attract and retain key personnel; xvii) our business may be affected by government regulations, government cost cutting initiatives and adverse economic conditions; and xviii) we may make acquisitions that could adversely affect our results, and xix) we may have additional tax liabilities.
We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2024 and other reports and filings made with the Securities and Exchange Commission.
| AWARE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except per share data) (unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue: | ||||||||||||||||
| Software licenses | $ | 2,525 | $ | 1,175 | $ | 5,261 | $ | 5,137 | ||||||||
| Software maintenance | 2,373 | 2,257 | 6,724 | 6,571 | ||||||||||||
| Services and other | 231 | 417 | 646 | 884 | ||||||||||||
| Total revenue | 5,129 | 3,849 | 12,631 | 12,592 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of revenue | 491 | 270 | 1,075 | 817 | ||||||||||||
| Research and development | 2,131 | 1,873 | 6,013 | 5,922 | ||||||||||||
| Selling and marketing | 2,103 | 1,856 | 5,730 | 5,838 | ||||||||||||
| General and administrative | 1,699 | 1,317 | 4,918 | 4,086 | ||||||||||||
| Total costs and expenses | 6,424 | 5,316 | 17,736 | 16,663 | ||||||||||||
| Operating loss | (1,295 | ) | (1,467 | ) | (5,105 | ) | (4,071 | ) | ||||||||
| Interest income | 247 | 315 | 726 | 886 | ||||||||||||
| Loss before provision for income taxes | (1,048 | ) | (1,152 | ) | (4,379 | ) | (3,185 | ) | ||||||||
| Provision for income taxes | 5 | 15 | 38 | 54 | ||||||||||||
| Net loss | $ | (1,053 | ) | $ | (1,167 | ) | $ | (4,417 | ) | $ | (3,239 | ) | ||||
| Other comprehensive (loss) income, net of tax: | ||||||||||||||||
| Unrealized (loss) gain on available-for-sale securities | (110 | ) | 250 | (63 | ) | 373 | ||||||||||
| Comprehensive loss | $ | (1,163 | ) | $ | (917 | ) | $ | (4,480 | ) | $ | (2,866 | ) | ||||
| Net loss per share – basic | $ | (0.05 | ) | $ | (0.06 | ) | $ | (0.21 | ) | $ | (0.15 | ) | ||||
| Net loss per share – diluted | $ | (0.05 | ) | $ | (0.06 | ) | $ | (0.21 | ) | $ | (0.15 | ) | ||||
| Weighted-average shares – basic | 21,202 | 21,186 | 21,188 | 21,123 | ||||||||||||
| Weighted-average shares – diluted | 21,202 | 21,186 | 21,188 | 21,123 | ||||||||||||
| AWARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (unaudited) | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Cash and cash equivalents | $ | 6,292 | $ | 12,972 | ||||
| Marketable securities | 16,208 | 14,842 | ||||||
| Accounts and unbilled receivables, net | 7,095 | 4,002 | ||||||
| Property and equipment, net | 400 | 477 | ||||||
| Goodwill and intangible assets, net | 4,787 | 5,096 | ||||||
| Right of use assets | 3,725 | 3,964 | ||||||
| All other assets, net | 1,768 | 1,291 | ||||||
| Total assets | $ | 40,275 | $ | 42,644 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Accounts payable and accrued expenses | $ | 2,478 | $ | 2,341 | ||||
| Deferred revenue | 6,515 | 5,163 | ||||||
| Operating lease liability | 4,044 | 4,244 | ||||||
| Total stockholders’ equity | 27,238 | 30,896 | ||||||
| Total liabilities and stockholders’ equity | $ | 40,275 | $ | 42,644 | ||||
Non-GAAP Measures
We define adjusted EBITDA as U.S. GAAP net loss plus depreciation of fixed assets and amortization of intangible assets, stock-based compensation expenses, other (expense) income, net, and income tax provision. We discuss adjusted EBITDA in our quarterly earnings releases and certain other communications, as we believe adjusted EBITDA is an important measure. We use adjusted EBITDA in internal forecasts and models when establishing internal operating budgets, supplementing the financial results and forecasts reported to our Board of Directors, and evaluating short-term and long-term operating trends in our operations. We believe that the adjusted EBITDA financial measure assists in providing an enhanced understanding of our underlying operational measures to manage the business, to evaluate performance compared to prior periods and the marketplace, and to establish operational goals. We believe that the adjusted EBITDA adjustments are useful to investors because they allow investors to evaluate the effectiveness of the methodology and information used by management in our financial and operational decision-making.
We define recurring revenue as the portion of Aware revenue that is based on a term arrangement and is likely to continue in the future, such as annual maintenance or subscription contracts. We use recurring revenue as a metric to communicate the portion of our revenue that has greater stability and predictability. We believe that recurring revenue assists in providing an enhanced understanding of effectiveness of our efforts to transition to a subscription-based business model.
Adjusted EBITDA and recurring revenue are non-GAAP financial measures and should not be considered in isolation or as a substitute for financial information provided in accordance with U.S. GAAP. These non-GAAP financial measure may not be computed in the same manner as similarly titled measures used by other companies. We expect to continue to incur expenses similar to the financial adjustments described above in arriving at adjusted EBITDA and investors should not infer from our presentation of this non-GAAP financial measure that these costs are unusual, infrequent or non-recurring. The following table includes the reconciliations of our U.S. GAAP net income (loss), the most directly comparable U.S. GAAP financial measure, to our adjusted EBITDA for the three and nine months ended September 30, 2025 and 2024 and (ii) our U.S. GAAP revenue, the most directly comparable U.S. GAAP financial measure, to our recurring revenue for the three and nine months ended September 30, 2025 and 2024.
| AWARE, INC. Reconciliation of GAAP Net loss to Adjusted EBITDA (In thousands) (unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | September 30, | September 30, | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net loss | $ | (1,053 | ) | $ | (1,167 | ) | $ | (4,417 | ) | $ | (3,239 | ) | ||||
| Depreciation and amortization | 143 | 141 | 431 | 421 | ||||||||||||
| Stock based compensation | 342 | 220 | 904 | 627 | ||||||||||||
| Interest income | (247 | ) | (315 | ) | (726 | ) | (886 | ) | ||||||||
| Provision for income taxes | 5 | 15 | 38 | 54 | ||||||||||||
| Adjusted EBITDA loss | $ | (810 | ) | $ | (1,106 | ) | $ | (3,770 | ) | $ | (3,023 | ) | ||||
| AWARE, INC. Revenue Breakout (In thousands) (unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | September 30, | September 30, | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Recurring revenue: | ||||||||||||||||
| Software subscriptions | $ | 1,182 | $ | 561 | 2,458 | 2,099 | ||||||||||
| Software maintenance | 2,373 | 2,257 | 6,724 | 6,571 | ||||||||||||
| Total recurring revenue | 3,555 | 2,818 | 9,182 | 8,670 | ||||||||||||
| Non-recurring revenue: | ||||||||||||||||
| Software licenses | 1,343 | 614 | 2,803 | 3,038 | ||||||||||||
| Services and other | 231 | 417 | 646 | 884 | ||||||||||||
| Total non-recurring revenue | 1,574 | 1,031 | 3,449 | 3,922 | ||||||||||||
| Total revenue | $ | 5,129 | $ | 3,849 | $ | 12,631 | $ | 12,592 | ||||||||
Aware is a registered trademark of Aware, Inc.
| Company Contact Delaney Gembis Aware, Inc. 781-687-0300 marketing@aware.com | Investor Contact Matt Glover Gateway Group, Inc. 949-574-3860 AWRE@gateway-grp.com |
FAQ
What were Aware (AWRE) Q3 2025 revenue and net loss figures?
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What cash position did Aware (AWRE) report on September 30, 2025?
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