Aware (NASDAQ:AWRE) shares fell over 16% to $1.22 in after-hours trading on Wednesday.
Aware Inc, a biometric identity and authentication solutions company, reported its quarterly earnings while highlighting its ongoing transition to a platform-driven model.
Revenue And Losses
Aware reported revenue of $3.4 million in the first quarter, compared to $3.6 million in the same period last year.
Operating expenses rose to $7.0 million from $5.5 million a year earlier, including approximately $0.7 million in one-time severance costs tied to workforce reductions.
Net loss widened to $3.5 million, or $0.16 per share, compared to $1.6 million, or $0.08 per share, in the prior-year quarter.
Adjusted EBITDA loss was $3.2 million, compared to $1.5 million in the first quarter of 2025.
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