Earnings call transcript Q4 2022

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Matt Glover

Good afternoon, and welcome to Aware's Fourth Quarter and Full Year 2022 Earnings Conference Call.

Joining us today is the Company's CEO and President, Robert Eckel; CFO, Dave Barcelo; 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 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.

of end Harbor of note included that take the at today's should the paragraph Safe is Listeners press release. the management today. emphasizes forward-looking paragraph major risks and This inherent statements that will making be uncertainties in could Aware wishes that indicated results you to those differ from such cause factors materially there to by actual are caution that statements.

considered and filings, reports report be annual XX-K, quarterly light including on statements uncertainties XX-Q. in on also forward-looking in outlined factors. are risks these its These the SEC Any Form company's of Form should

only You reliance are cautioned upon any not of to place forward-looking undue statements, the which as made. date speak

events Although, to otherwise, by required securities do update so whether except voluntarily laws. it the applicable revise time-to-time, future forward-looking statements may of Aware or commitment or result as as undertakes no a from information, new

most as the SEC should Additionally, by provided the be isolation financial defined a company's recorded today. Investor section measures made contains financial presentation financial with be information measures GAAP. of Non-GAAP or Aware comparable non-GAAP substitute call term in has not GAAP Accordingly, as is the company's presented non-GAAP release in website. certain measures of This a and will considered for to in link issued replay for in a via available and earnings measures the compliance reconciliation G. financial the Regulation the the from Relations directly

Aware's over and Bob? call Now, Bob the to CEO I'd to like turn President, Eckel.

Robert Eckel

year our XXXX. of the release fourth available release Investor market our for Thanks, you in and joining press of a close, website. fiscal Matt. section for the today. we us afternoon, issued ended the with A Good After press Relations is thank XX, everyone, results the copy December quarter and

scale the operational our growth. the greater Then company to review performance On discussing realize today's quarter financial full the XXXX. I by fourth I'll and we've for year made progress and will and our sustainable begin call, positioning

on details full our additional provide XXXX performance. will Barcelo, Dave year and fourth CFO, our Afterwards quarter

advance CRO, efforts. Herman strategic our and our go-to-market will bolster sales our Next, Craig discuss initiatives to

Finally, the I'll drivers key XXXX and questions. to before opening our business review outlook call

you brief and to our back a an who be of company, we overview provide for increasingly those working let we step an of moment identity world. a who do. Aware and connected to are For trust me partner what platform enhance is in new may

and well of that needs to and security through experience is challenges at today technology mission challenges and Our few future. business user fraud for preparing address balance as identity enable while the for offerings through and as security scale. We efficiencies identity the improve compliance reduced in

as identity and and well multimodal These configured, sometimes use offerings as management proven the the adaptive facilitate customer's preconfigured, digital risk on the trusted technical onboarding, user's of capability, biometrics, biometric user's end adaptive, through cycle based authentication meaning life it's case profile. and the

marks XXXX on to pause me our given reflect new. XXth and old both has the anniversary and the

level, most years, XX algorithms, in we've rooted deep the and a data trained on the led world. sets technical systems diverse For expertise operational to

with many over spots and three XX can XXX more in government all found industry be governments, agencies US than in government, and worldwide. the trusted law has of earned our reputation biometric enforcement today, Our federal us agencies the technology branches

last actively roots loyal our have And while company we to the base, we shifted three cherish and years. hard maintain the our customer work over

our approximately shift for the of X/X and has our that accomplished has onboarding for now has in contribute commercial business you of which our target towards changed, digital our technology our to maximize this revenue. story portion XXXX. enterprise efficiencies. changed, business a a over years our include of now infrastructure clients, to hit of culture following provide focused significant with We transformation changed, to and authentication million Our across solutions verticals couple has $XX been model which recurring customers know past revenue, growing and Those

who that an XXXX as solidified come. XXXX. discuss a impactful about financial offerings, understand and Now scale operational you growth can years year I'd organization characterized accomplishments Aware like well and our strengthened and for shift our our we transition level, and to At we more technology and profitable where be high are in what Aware, during positioning do, greater best gears to as as further to for we

a our last deep the enhancing and our as solutions, success sales our applied well customer team, infrastructure During we including cloud-based our solidifying XXXX, our made as The and well us expand have market changes positioned grow a product solution. refining Knomi go-to-market processes, fulfillment as with advancing our and customer several accelerating growth. focus months, mechanisms share we AwareID, as over on offerings, on new execution team, capitalize and BioSP SaaS to and establishing recurring

and organization Awares personal the Our Established and customer driving overall team on has success over technology. customer and made improved customer the noticeable in attention QX, of existing sales impact accelerating onboarding, a retaining success team and course satisfaction expanding on focused through effort. our customers already using

our In in team well was instrumental fact, quarter, as live customer bringing enabling customer as new customer several success renewals. already a this key

integrated central the is selling. on onboarding Additionally, allowing team the the customer focus while reducing sales for success resellers, to to team time

our this key Our success partner the are go-to-market is component to by reseller area. we and encouraged built strategy, a have we strategy in

Egypt, geographies, XXXX, During and across America, multiple added UK, Latin resellers seven Morocco Jordan. the we including Knomi new

diligently product or have in or didn't sales controlled of this adoption as pre-bundled deployed these and be expand October strategies, and integrate XXXX, SaaS a teams BioSP accelerate customer time been who reach addition acceptance back platform to Furthermore, market provided filled environment. develop offering. expanded the to the working our foundational pre-bundled reinvigorating out in we cloud accessibility feedback configure extend that We BioSP customer configurations can leverage customer to of to to high-demand The portfolio. expected of line customers product realized and further our and to increased our previously advance product BioSP. in In deployments have resources and or AwareID configurations to we go-to-market and are launched

QX, we integration December This fraud. proofing financial full XXXX. a ID's address our requirements, complementary highly organizations in to around technology, to business expanded also directly enable of the risk identity curtail compliance In of we offerings completed acquired and mitigate Fortress

throughout optimizing Lastly, the in our position XXXX on for focus and resources we XXXX, success to best organizational beyond. company

to effort, relocated a this corporate Burlington, of that we more part meets smaller, headquarters our As better to facility modernized Massachusetts our needs.

the over Dave. to our financial quarter our you walk you. year. for with XXXX, turn He initiatives results continuing full the Dave, will over the through fourth to and call Before I'll for

Dave Barcelo

good Thank the and to on afternoon you, everyone call. Bob,

Turning financial our quarter December to XX, ended fourth and results for year the XXXX.

up revenue XX% driven and total increases in million fourth in from improvement was up Knomi in was by revenue $X.X quarter Our sequential and the on the same year the attributed BioSP largely The sequentially to $X in million, X% ago revenue period.

million software subscription-based $XX.X was same revenue result months ago maintenance the in which Services, For revenue revenue ended decrease year period. by XX Perpetual revenue the was in was The December compared Licenses and XX, increases lower partially in of from offset revenue Software to the total licenses. from million and $XX XXXX, primarily

as progress million As in such, on transformation. recurring record XXXX our grew further a $X.X X% we revenue model business to

Now looking at our operating expenses.

in expenses million gain our year. impact fourth to the operating expenses in $X.X million, QX office. a months increased $X.X down included $X.X operating compared million For to of of last favorable XXXX, the corporate $XX million XX, The XXXX, December XX of million for our in XXXX XXXX, were the of sale quarter which $XX.X from former ended on the

profitability our operating loss ago fourth to million $X measures, for compares million, regards the $X.X same in With an operating period. which of XXXX the was quarter loss year to of

the was to as was loss G&A operating gain corporate of sale of marketing decrease loss increase year, sales to million expenses in $X.X full which in in a $X.X offset well compared XXXX. due operating loss Improvement we the recorded related primarily in was by our XXXX revenue, in increase as and expenses. million, the office, For in operating an to

$X.XX net GAAP $X.X or fourth loss same totaled year loss to million net $X.XX the or million GAAP diluted in period. of per the a of per $X.X share diluted For quarter compared ago XXXX, share

ago of the year compared to which which loss our or or XXXX. in GAAP of EBITDA we Adjusted per a net GAAP fourth for $X.X to compares share share loss year loss million to totaled $X.X of income diluted million, EBITDA net period. million net full reconciled in $X.X same $X.XX quarter, release, GAAP the the For loss in adjusted $X.XX totaled XXXX, $X.X per diluted million an earnings

million year $X.X in For loss December million XXXX, period. the XX, months XX of EBITDA compared EBITDA loss adjusted prior the $X.X totaled to an adjusted ended

compared an price prior reducing in X% We stock to million common at $XX at shares sheet. XXX,XXX, increased end amount over XXXX. XXXX marketable Switching $XX to shareholders. outstanding of in the gears continue for of cash the total cash of strategic shares common had in be value at XXX,XXX the quarter. per buyback $X.X our program by to Bringing of stock equivalents fourth our quarter in average balance and end the quarter our and our share and $X.XX of the of as existing to of repurchased our shares to the repurchase securities million We million utilized cash we

and and high with the potential that us flexibility robust line, allocate Our continue align generate ROI long-term to for would and enable with beyond. and to balance with that we expansion sustainable maps. strategic remains XXXX product us to sheet evaluate our opportunities to provides growth that Along road opportunities predictable capital

summary. my financial This concludes

Now strategy. our CRO, our Greg? will discuss Craig Herman, sales

Craig Herman

our are Aware key pleasure result Dave. opportunities a today. and you, wins that on our you new and few to customer of team ID our to with gaining here have success expand and go-to-market started a be of exploring marketplaces touched momentum, a direct initiatives. several sales were new the offerings. particular, In reach. Thank we Bob product to It's customer Shifting

In needs. ensure support that of our offering SaaS customers, customers' flexibility out our rounds portfolio to our meets deployment our

we managed Aware phase select We managed prefer by or in Nevertheless, them. deployed services therefore are customer to services or still to adoption licensed solutions a and working whether as ramp controlled subscription. diligently on-prem onboarding a have new customers ID in are still transitionary financial to SaaS and We and their especially be those with cloud in customers, space. our instance the

the Aware to traction its extended globally. XX Recently, in In ID's customers as Knomi million our expanding of scope than prevent increased have biometric authentication leveraging parallel one among fraud been Latin in with bank work we are institutions contract also which mobile reach, Knomi, our with more banking framework. America, largest we realizing

strategy, critical areas. three enterprise to intentional terms sales year, In our this focus are applying of we

which a is centering Aware gaining we by is success First, process With we we leader institutions Fintech financial the banking and are around newly prevention, trusted are why largest market, poised meaningful the introduced efforts around to financial sales in gain the services the fraud of market. are of customer a reinvigorated share in some world. team, our momentum

Awares initiative us gain that features our to agnostic, rather more traction and is second globally emphasis without of and are ideal solutions the significant allow and Our continue strengthening technology products. for need on sell which resources. regional partnership partners us modular is Renewed than partners to help evolving just expansion programs. for will

working the by is with a record being governments commercial success technology our globe. towards the Aware trusted in across are we expanding footprint in of the market. Lastly, our space, US government track

with XXXX over and relationships Our agencies customers are over of some posting extremely rate years. US span our sticky, retention XX major XX% federal

commercial technology making able breaking moved Despite it has with connectors any this to into globally, for respect be integrated setting. our slowly market. features to in progress US our Additionally, compliance, the adaptable recognition

had US of with However, this we've federal well capitalize positioned penetration we platforms, opportunity. amongst market and success our to the global are on agencies

the new and integrated optimized momentum, the as strategy of reseller wins, customer of technology our partners into by expanding In summary, gaining and markets. our partner is reach enterprise well number as validated sales growing

and the key With in to building years drive for am across business sales success scale the demand team, confident continued efforts of markets, customer coupled ability in our the I solutions our with our ahead. our

call I Now for back to to for Bob Bob? XXXX. turn on like the priorities and insights our would outlook additional

Robert Eckel

exciting transition model revenue Thanks, pipeline authentication we AwareID. company past generated have us year SaaS year, the our a robust also unveiled that for with and Craig. recurring In This at are entered highly final platform to an positioned offering anticipated we significant business XXXX, the stage These brand awareness new of and our encouraging efforts an opportunities our pace. to convert enter momentum with solutions. of starting to

processes single-tenant cloud XXXX. business customers' product products model the supported deployed cloud last essentially recurring driven the This business they determined retooled multi-tenant both capability, enable and contracts to delivered on-premise across or as exist offerings. we from processes. all Our be our At business infrastructure as same new user customer-controlled doubled we shared until and three cloud customer the upgraded over to installations, and ensure has years, from time, this per security, transactional revenue our and services could by that term of or or subscription rules and at to the October didn't perspective, and level a business

Our total or XXXX. revenue revenue far ending not current off recurring the XXXX is XXXX achieved in from

record $XX past the almost in million total of at in is ratio this Said revenue, our way, recurring XX%, million recurring by company revenue we on revenue. revenue. to revenue XXXX set $X.X around recurring total achieving XX% With year was another ratio a which we a finished

aboard years quality the outlined business models to wins. this ago, came I and onetime technology confident company to date need program the direction. to few versus repeatability the of excited and When improve we'll the for the in progress I continue transition project the and a revenue for and I'm

improving to continuing SaaS of to us competition. to ARR our recurring on subscription choice on fulfillment enabling while makeup flexibility revenue, sets recurring maintenance, have and from degrees revenue a percentage focus that our The model we're customers, efficiencies. Aware able apart of continue is for provide focus will our of the varying as driving the on new focus us to increase total to and XXXX, leverage and In logos,

partners by select XXXX, have drive base three by market for and in establish marketplaces, scalability to protect verticals. goals: confirm said, the areas customers to AwareID's industry and expanding through through growth and focusing That targeting we and product and on to strategic retaining adoption fit core business

the time and to to boost heard, to working onboarding revenue. revenue and partner accelerate new allow the thereby program improve you to us markets faster, diligently enter is As team customer our reducing

progress, a dedicated retention and having within to expansion transformative also members Furthermore, other of will our members focus while of new contribute with team base core focus team on continued on customers the logos. our

the earlier, and on entire is is It's Craig's organization ensure The though. team collective leveraging optimized goals behind success. and mentioned resources all these aligned not to organizational unified I

Revenue, We success or on translate expect to in XX% goals XXXX. that Annual our ARR, a will strategic our in growth Recurring

with organization will to positive that resources, growth achieve the allow cash and exiting took us anticipate We last we also XXXX. measures flow operating to year optimize our combined when this

industry. of Looking ahead sustainable ability remain our deliver results for momentum continued ahead, and we and lies support, roadmap, our are gaining aware for our strong the confident for are operational in appreciate beyond. XXXX strategic promising scale and and your what growth. We focus on excited our future in the execution company to We to

the With call that, we instructions. to the are open please to Matt, ready questions. provide appropriate

Matt Glover

Bob. you, Thank

the ask a a As the reminder, questions. while using populate submit the hold, we you question built-in Please in player. webcast question can a feature

Bob. for is First question

healthy on contract mentioned color Can pipeline. You any wins? product or some a you provide

Robert Eckel

Yeah. Thanks, Matt.

in signed release, line new XX%. to seven I'd covers Knomi XXXX confidence by what gaining increase we least our in cornerstone the be a momentum product our have in and world. Knomi our will fuels we ARR throughout earnings partners and is at that's further of the that that say and As XXXX to growth mentioned our

only three largest for and customers, one use years cases. more our Already year, we've extended this of an additional

U.S. our with in award some in the interesting Law exciting firms. lastly, expect government. near cloud-based be working to also future, with our on along closely first us other We I announcing Enforcement are federal partner, And the deals Intercede in

Matt Glover

the for capital company's Thanks XXXX? allocation Bob. are plans What

Robert Eckel

securities. release, as end securities liquid saw $XX took we probably of the and cash large highly marketable in invested of the million the rates advantage of marketable we in at interest higher and the QX, had earnings the in Matt. end market of cash at into Thanks, portion quarter. the QX you Yes, a our and overall of

More the and returns and our opportunities continually growth drive repurchasing for That would broadly, that provide will opportunities the scale strategy. most in M&A opportunities the attractive our and internal Board, evaluating leadership I, team investing strategic that and partnership stock, accelerate we some our risk-adjusted our shareholders. evaluate and includes growth

Matt Glover

Dave. Thanks,

Aware Next contributing do ID top-line anticipate revenue? When you to question.

Robert Eckel

Yes. the in our contributed say nominally ID Thanks that for But to focus to is it's top-line question. I'd ARR. the Aware note QX. important on

So that's not SaaS. Aware deployment to exclusive ID of in its

our the So our varying as we that's subscription ARR provide to continue and of fulfillment will choice degrees to have makeup of SaaS maintenance, customers. model

this to space. and is others -- So flexibility how the out this stand central we in from

deployed solutions that want be portfolio ways So several to of we man. full offer best their and in however a it they meets

So it's ARR deployment the at looking we're the particular, it's across -- methods. important in to know that

Matt Glover

Thanks, as Bob. QX in transactions What in well XXXX? was the number as of Knomi

Dave Barcelo

Yes, I can take that.

while the that this transition year, up Knomi company. company's And the times. to each has recurring subscriptions. device-based overall of grow Because and our of adoption transactions and track a best continue is continued now platform user-based a of couple into a So popped subscription-based question believe to transaction-based, Knomi selling metric our we're we revenue mix

this So or year, an minimize revenue our XXXX, which of the the nearly recurring transaction Knomi transformation. overall for our And which total in momentum. from is XX% XX% XXXX encapsulated recurring revenue our would It's count after than revenue. increase all more million $XX totaled we in started

Matt Glover

Thanks. Dave.

to If Next Is future? question. for software the the not, working do on Aware AI plan you in market?

Robert Eckel

with and in-house be And and scientists team our or And ones that to can engineers. continue deep will Aware to learning learning our take artificial has deep part the market intelligence Matt. significantly software take and I’ll to advanced cloud. and the package AI those that the offerings PhD solutions. in in through we Aware’s invest are Yes, and or on-prem are of

identities used improve of then vet associated AI platforms, protect and them is portfolio emerging and our So attack factors. to against known and frameworks extensive

optimize AI organizations of will access of This improve new continue extensive use to our performance Aware data in train features to going Aware With offerings fast-changing advantage to to enable needs. as portfolio, well security manner. operational to our introducing and extremely take to to is to respond as innovations timely

Matt Glover

Bob. Thanks,

Another the one circumstances a your over Please sale of company on of suboptimal performance. And the X.X your future? comment expectations years, merger or persists? would you. if next consider what assessment for company And the performance influence

Robert Eckel

as and CEO I operating XX% $XX position the position required of Thanks profitability. total. when of over around far growth more doing revenue is the recurring to significant for assumed restructuring was took revenue of XXXX, of for that CEO the question. in the September company million approximately business company When the expected state was and than The challenged I and

this, that that the suite a not a a it company -- have components of process to that on innovator the proven proven product complicated. not had of did not -- sales Part made for go-to-market not top subscription and hardened was it strong sell. company the initial have do And was strategy overly was product challenge but equipped have properly did integral and

So growing it's where its one-third, nearly top while by our two-thirds. years, by line if recurring forward we three fast revenue grown simultaneously

which knows perspective, So the able or in total at the annual about. revenue revenue recurring to a about XXXX to business global $XX this of or we was everybody XX% despite And transformation approximately that are achieve approximately technology XXXX. pandemic, knew million of and put in our end company's

business right profitability. greater have and to our And strategy right we has ways in we improve have scale to turned that heights. team, the executing now sustainable today, the the And foundation, that our scale attention drive products, to right

for all will and operational that long-term all business While shareholders. our the continually progress Board momentum, produce the evaluates options by we're greatest value strategic encouraged our

Matt Glover

the question, average is Next size? deal what

Robert Eckel

be -- complicated a view is I'll it. give a this simple of quick just but could question, So a

to which such in But revenues licenses customer product is isn't XXXX. So about about our and business say deal and of XXXX contribute varies can $XXX,XXX contributed $XXX,XXX average across BioSP our is level. lines Knomi models, customer our a that view I in size metric and we maintenance a and a there services average and mixture company at what

Matt Glover

you. for How you XXXX. in Dave, do the next question anticipate trending OpEx is

Dave Barcelo

Yes.

very at So significant adding We're million we quarter to any don't OpEx and Matt, XXXX. structure. in we're $X.X our comfortable current cost million anticipate with running about $X per

Matt Glover

and is your XXXX with Thanks, actually QX Craig, at and for or show you a list business Please just What pitch much a you. did in so to describe in repeatable XXXX. products next trade Dave. sales this are them not list far and you them and services sell reseller? QX show new out one doing How activities. your go

Craig Herman

Yes, absolutely.

drill sales refined are sales logos But it's big in a process, into first strategy customers, partners connecting sales specialization. or is it's supporting whether it, the a with first, our going I we for down process, constantly the If pretty strategy, out topic. and expansion. from So or directly piece sales a new

team expansion. by a out renewals, So building success that is focused customer on upsells,

We team and [ph] that specifically partners. growth, partner an managers working that new as A well are logo have as supporting is focused on our

coming in We BDRs very that the are also on that the follow-up. are then added and leads focused

focus The vertical making our piece differentiation unique one areas. our that is messaging is territory sure those each for product second of and and

right right So having the product the competition. against message the the right vertical, for

what instituted is this we some and is sales third opportunities? do process, technology qualify the our Again, do more follow-up how helps on us How We've opportunities? a more defined do messaging? efficiently we And effectively. that

sales some are strategy months. the a but lot pieces, last different is of in again, of instituted things the few So the encompassing those just we've

Matt Glover

What for sales you. one your another is Craig, Craig. refined strategy? Thanks,

Craig Herman

customers going prospects So that's product aligns our on skill with both the sets basically, facing yes, and we and through are that with again, that making that. on the are the solution the kind our based of is sure problems that message think out the I I went here. needed, our But product, focus that

Matt Glover

recurring the was Dave, maintenance? and revenue much of much in how Thanks, was million QX, subscription Craig. how $X.X

Dave Barcelo

about $XXX,XXX $X.X one. about of We That's Matt. of million $X.X in Those of $X.X numbers an maintenance, subscription. are QX subscription XXXX. easy million Thanks, million had of and in maintenance

Matt Glover

Thanks. Great.

CloudABIS question, explain coming the contract soon. new next please Our

Robert Eckel

Yes.

actually biometric excited we're service, announce duplication not where extremely a the we're point can we and at is, ABIS again, large-scale So but ID name, a that deduplication service.

can of people one recurring on to globally the and area be few in to stood get is product revenue of obviously them are of can an has on-premise. are Most impact this easier into We and price and offer and running an it get cloud able efficiently. and the for This this up that an at faster more hosted. focus companies point

excited So, we're of in looking pretty the we're leaders one this market. being And extremely soon. as forward to the announcement

Matt Glover

That's great.

address question. delayed/pushed Can were Next from QX you to the that stated QX? XXXX sales

Dave Barcelo

Yes. Matt. I can take that,

our -- in So were here know, we you as customers QX, QX, actually. a live. were of had quarter. last we faced talked we yes, our go government They that expecting as number delayed. materialized some They headwinds, have We to about

So got the into over of right. some shifted great not we've of pushed other QX, a that launch government the much couple but QX, to that revenue and projects

to that. So see happy we're

Matt Glover

back your of size do share repurchase the plan to to stock? is And plan? buy you what question, current continue next Our

Dave Barcelo

Matt. Thanks, Yes.

plan $XX million. published Our is

we can continuing decision. we stock. buyback of publish if were If to would So this point million $XX buy in we at plan. cancel And plan we that on stock the that plan, time, that changes, up to

Matt Glover

Dave. Thanks,

what in question, you revenue do XXXX? range Next total of expect

Robert Eckel

at then same the total in a script, take at I'll looking We're the annual the amount XX% said earlier looking that. at I even that. but earlier, we're recurring Yeah, looking than we're I top. as revenue increase, mean and at,

at million the ranges multiply for this finished we year. that gives $XX it you out, when So you

Matt Glover

cash Great. Bob. how expect if Thanks, And much? burn Aware in Does XXXX? to so,

Dave Barcelo

take Yeah, I'll Matt. that,

it. much goal, plan has So continue more to specify cash few the we I the Aware same same cash than the end There should our as cash usage neutral as the usage much In for it we other quarters. our is positive. QX, the that, quarters. in become cash as use currently user, or are year, year to will is the of do on of hit course, cash profitable. last typically the we continue should our a We meantime, we to operating believe the exiting cycles

breakeven. And that track record we flow improving we You cash can look to get at XXXX. until incrementally quarter our in each are

Matt Glover

Bob, can you talk about environment? the competitive

Robert Eckel

Yeah.

to in I'm I'm to do he's have put going You field. – -- out the know to what been this talking he's little color a going as been on Craig

So let on me give it. perspective Craig? a new

Craig Herman

a that see kind end, a when we right comes now. standing are differentiation we're a two where platform is we talking sure. ones of the the a – delivered this to we're the in depending sales – we about, the specifically that we that fact from face the where strategy, But that we ways, that, variety pressures on tracks standpoint running Again, out cloud big from competitive faced are or the it in, say that What competition will geography to price. the shifts. Yeah, be back of product differentiation functionality. can in is, are on-premise the solution in We pressures on we're bit little I the of on

customization partner then network. other on-premise is our does running the which Knomi, leveraging with So other. that done the typically, the piece that way against competition the it we're or And one be can is

again, that tool and custom using So take to this solve our workflow very tools are partners are Knomi. in customer problems able and our unique

Matt Glover

Thanks, our Craig. At this question-and-answer concludes time, this session.

If your the call remarks. to question e-mail wasn't Aware's at team now closing like please answered, I'd for to Bob awre@gatewayir.com. over IR turn

Robert Eckel

all keep multiyear we're if our our like transformation in joining And website to would continued available learn updated just of And call. I'd anyone on an an on eye And strategy, thanks employees, by our that investors our us today's more continues, QX. as our like for make for your support. partners the investor to date. please of to on final and say Yeah, our progress presentation. I'm to to about I want thank going stage for energized you

lies and we're We in ahead. our that look Aware's you on forward future off XXXX the Our confident strong kicking momentum on updating to call. bright progress next

So, Matt?

Matt Glover

Bob. Thanks,

today a for recording of Investor the and link Earnings company's replay today's Conference in website. a XXXX Thank the be call Aware's joining Full available for reminder, will us section you As Call. of via Quarter Year Fourth for

You may disconnect. now

Matt Glover	Gateway, Investor Relations
Robert Eckel	Chief Executive Officer & President
Dave Barcelo	Chief Financial Officer
Craig Herman	Chief Revenue Officer

Aware (AWRE) 9 Mar 232022 Q4 Earnings call transcript