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Aware, Inc. (NASDAQ:AWRE) Q3 2023 Earnings Call Transcript

Aware, Inc. (NASDAQ:AWRE) Q3 2023 Earnings Call Transcript November 1, 2023

Matt Glover: Good afternoon and welcome to Aware’s Third Quarter 2023 Conference Call. [Operator Instructions] Before we begin today’s call, I would like to remind everyone that the presentation today contains forward-looking statements that are based on the current expectations of Aware’s management and involve inherent risks and uncertainties that could cause actual results to differ materially from those described. Listeners should please take note of the Safe Harbor paragraph that is included at the end of today’s press release. This paragraph emphasizes the major uncertainties and risks inherent in forward-looking statements that management will be making today. Aware wishes to caution you that there are factors that could cause actual results to differ materially from those results indicated such statements.

These risks and uncertainties are also outlined in the company’s SEC filings, including its annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements should be considered in light of these factors. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time-our-time, Aware undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additionally, this call contains certain non-GAAP financial measures that are defined by the SEC and Regulation G. Non-GAAP financial measures should be considered in isolation from or a substitute for information presented in compliance with GAAP.

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Copyright: franckito / 123RF Stock Photo

Accordingly, Aware has provided reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures in the company’s earnings release issued today. I would like to remind everyone that this presentation will be recorded and made available for replay via a link available in the Investor Relations section of the company’s website. Now, I’d like to turn the call over to our CEO and President, Bob Eckel. Bob?

Bob Eckel: Thanks, Matt. Good afternoon, everyone and thank you for joining us today. I am excited to talk to you about our exciting things that have been going on at Aware. After the market closed, we announced our results for the third quarter ended September 30, 2023. A copy of the press release is available on the Investor Relations section of our website. Before reviewing our financial and operational highlights from the third quarter, I want to give you a quick overview of Aware and what makes us different. That way, those of you who are new to us have a better understanding of Aware. Aware is a global biometric platform company that uses data science, machine learning and artificial intelligence to tackle everyday business and identity challenges through biometrics.

We’re working to enhance trust in an increasingly connected world through our mission of balancing security and user experience through our technology. Our offerings facilitate digital onboarding, authentication and life cycle management of the user’s biometric identity through proven, responsible and trusted multimodal adaptive biometrics. Over the last 30 years, Aware has proven the value of our offerings by continuing to be chosen by governments and commercial organizations alike for our experience and our hardened portfolio. Our reputation in the biometric industry has earned us trusted spots with core government agencies in the United States, Canada, the UK, Germany, Australia and more. In fact, we are a worldwide leader in biometric data orchestration for immigration and border management.

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