Company: AWRE
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000950170-25-101395
Chunk: 7

Company: AWARE INC /MA/
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 7
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 Chief Executive Officer and a member of our Board of Directors, would resign from these positions effective December 31, 2024. Following this announcement, we retained an executive search firm and conducted an extensive search for his successor. As a result of that process, on February 3, 2025, Ajay Amlani was appointed Chief Executive Officer and a member of our Board of Directors.

Summary of Financial Results

We use revenue and results of operations to summarize financial results as we believe these measurements are the most meaningful way to understand our operating performance.

Revenue and operating loss for the three months ended June 30, 2025 were $3.9 million and $2.0 million, respectively.  These results compared to revenue of $4.3 million and operating loss of $1.3 million for the three months ended June 30, 2024.  The decrease in revenue and operating loss in the current three month period was primarily due to a $0.4 million decrease in software license revenue and an increase by $0.2 million in operating expenses resulting from additional headcount hired in the first half of 2025.

Revenue and operating loss for the six months ended June 30, 2025 were $7.5 million and $3.8 million, respectively.  These results compared to revenue of $8.7 million and operating loss of $2.6 million for the six months ended June 30, 2024.  The decrease in revenue and operating loss in the current six month period was primarily due to a $1.2 million decrease in software license revenue.

These and all other financial results are discussed in more detail in the results of operations section that follows.