Aware, Inc. (NASDAQ:AWRE) Q4 2023 Earnings Call Transcript
Aware, Inc. (NASDAQ:AWRE) Q4 2023 Earnings Call Transcript March 12, 2024
Aware, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Matt Glover: Good afternoon, and welcome to Aware's Fourth Quarter and Full Year 2023 Conference Call. Joining us today is the company's CEO and President, Robert Eckel; Principal Financial Officer, David Traverse; and CRO, Craig Herman. Following their remarks we'll open the call for questions. [Operator Instructions] Before we begin today's call, I'd 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.
The 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 indicated by such statements. These results 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 to 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 references recurring revenue, annual recurring revenue and adjusted EBITDA, which are non-GAAP financial measures as the term is defined by the SEC in Regulation G. Non-GAAP financial measures should be considered in isolation from or as a substitute for financial information presented in compliance with GAAP. Accordingly, Aware has provided a 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 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?
Robert Eckel: Thanks, Matt. Good afternoon everyone and thank you for joining us today. After the market close we reported our results for the fourth quarter and full year ended December 31, 2023. A copy of the press release is available in the Investor Relations section of our website. 2023 marked a record-breaking year for Aware as we began to see the impact of our successful transformation to a recurring revenue and subscription-first business model. Our financial performance reflects our continued efforts to drive sustainable growth by prioritizing annual recurring revenue, focusing our go-to-market strategy, enabling our partner ecosystem, accelerating product market fit and optimizing our organizational structure. Our strategic execution yielded markedly improved results in line with our expectations for 2023.
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