Company: AWRE
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038714
Chunk: 104

Company: AWARE INC /MA/
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 104
---
 at December 31, 2024

    21,097

    $
    211

    $
    100,377

    $
    (69,943
    )
     
    $
    251

    $
    30,896

The accompanying notes are an integral part of the consolidated financial statements.

31

1	NATURE OF BUSINESSWe are a leading biometric identity platform company that validates and secures identities using proven and trusted biometrics solutions.  Our portfolio enables government agencies and commercial entities to enroll, identify authenticate and enable using biometrics, which comprise physiological characteristics, such as fingerprints, faces, irises and voices.•Enroll: Register biometric identities into an organization’s secure database•Identify: Utilize an organization’s secure database to accurately identify individuals using biometric data•Authenticate: Provide frictionless multi-factor, passwordless access to secured accounts and databases with biometric verification•Enable: Manage the lifecycle of secure identities through optimized biometric interchangesOur comprehensive portfolio of biometric solutions is based on innovative, robust products designed explicitly for ease of integration, including customer-managed and integration ready biometric frameworks, platforms, software development kits (“SDKs”) and orchestration services. Principal government applications of biometrics systems include border control, visa applicant screening, law enforcement, national defense, intelligence, secure credentialing, access control, and background checks. Principal commercial applications include mobile enrollment, user authentication, identity proofing, and secure transaction enablement. Our products span multiple biometric modalities including fingerprint, face, iris and voice, and provide interoperable, standards-compliant, field-proven biometric functionality.  Our products are used to capture, verify, format, compress and decompress biometric images as well as aggregate, analyze, process, match and transport those images and templates within biometric systems. For large deployments, we may provide project management and software engineering services. We sell our biometrics software products and services globally through a multifaceted distribution strategy using systems integrators, original equipment manufacturers (“OEMs”), value-added resellers ("VARs"), partners, and directly to end user customers.Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation - The consolidated financial statements include the accounts of Aware, Inc. and its subsidiaries (“the Company”).  All significant intercompany transactions have been eliminated.  Use of