IWSY - Earnings call transcript Q2 2021

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Operator

Thank you for standing by. This is the conference operator. Welcome to ImageWare's Second Quarter 2021 Earnings Call.

As a reminder, all participants are in listen-only mode and the conference is being recorded. I would now like to turn the conference over to Brian Prenoveau from MZ North America. ahead. go Please

Brian Prenoveau

And XXXX everyone. for ImageWare's joining Good results thank conference quarter financial call. second afternoon, you

guarantee as Before and intended could we XXXX. time-to-time, intend, future are to predict, fact, begin, that in I Litigation to projections, expect, differ results. defined is would may, like to should forecast, Private U.S. manner and as similar identify made such are statements projections ImageWare that These should, of to are forward-looking they reported occur. Securities a change construed today's obligated if, anticipate, in of results statements. materially but facts such subject estimate, the any Act update ImageWare relate remind from be project, in discussion such to results do not historical final projections any not announced will, may, that of these expressions plan, Any from not are operations so. Reform publicly forward-looking will as Words in statements it as all parties believe,

such and and with Securities discussion the of Exchange Securities Form as and year Commission XXXX for amended. risk XX, annual report risks in filed a uncertainties, on XX-K the please fiscal December under the ended factors other For reports section XXXX see ImageWare's Exchange the Act of

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

this any strictly will without the available website redistribution, consent company's prohibited. written retransmission rebroadcast As Any an a is the call way ImageWare XX for at additional reminder, in on days expressed of of be the of replay imageware.io. webcast or

Executive call Kristin Taylor, Officer. Now, I'll over to turn Kristin? the Chief

Kristin Taylor

for and Brian, to you you, Thank joining us everyone today. thank

consumers. an update identification, solutions including In assets. high ImageWare XXX biometric your and President XXXX, CDMA of quarter worked of provide and years. operations at I working and call Qualcomm by across roles Mike will businesses, efforts, is and Senior a lost in was July. me to Venture products, provide ImageWare today's we followed financial cybercrime Product billion and Fund Shambach; company private our level for overview in agencies ImageWare facilities and who Sales, second both begin leading and law government CFO, many cybersecurity on governments Naddell. Mike with with of companies, products, Qualcomm is and AJ, more enforcement worked will products secure applicable before call multi-factor our is and of cloud-based sales, and to agencies. together results started AJ pipeline Management to Vice over on and and in faster data, Qualcomm access and finance partner Mike physical logical Joining Interim data programs. to the our turn across everyday for He our services who marketing with offers a accurate that communities, suite over better Technologies opportunities provide a multimodal review operations. for authentication I'll Mike, of the

quarter second progress. The period was a of

major to personnel related work operational, several We will continue obstacles. through technical and

growth, assets. we some and with initiatives ImageWare seeing strategic progress designed However, the encouraged products our long-term to on core to we by focusing remain of steady sustainable return include are which rationalizing

and our our against are in product hard laser-focused addition working executing sales on fronts portfolio, to enhancing of across and objectives. marketing are We all business the

demos It that enabled program. to million were provide credentials services to to support cards. we card or with for The biometric Department PIV leading smart second support total its biometrically are the periods year to and Identification security which it's leasing contractors, of are deliver year. facilities. agency the over awarded more the On a contract two and sales a increased one and covers all this the managed and marketing $X.X Personal to of X employees to one software option required continue seeing of base the VA Affairs, to The and across government. implementation federal and Verification with we support, largest major biometric is three-year win side, the with million cards new the sales should prominence have of channels, contract inside translated year for enhanced and half smart identities recently, of that proposals is lead activity Most Veterans during

decade of closely We the look to plus completed with are proud we've forward work past them. in collaborating and the VA the with

and has or Attack system BioIntellic to referred also our obtained X Detection as Presentation X Additionally, compliance, PAD Level anti-spoofing.

system As to in can a passive The selfie BioIntellic securing designed anti-spoofing Identity will authentication ImageWare and of standard cyberattacks, ImageWare ImageWare verify a data. attempt interested and Level detection prevent revolutionary person as to the is identification. authentication solution cameras. enterprise a standard spoofing a systems. portrait person including able customers used is in whether ImageWare more BioIntellic breaching be it Authenticate, from access provides a the face in presentation a Reaching several many In friction of instances intelligent live is a PAD zero Platform, image the occurred. gain certification sensitive photo their or to ImageWare attempt offerings this cyberattack help In take biometric with with to face Proof, order criminals for X and taking of a to anti-spoofing intruders fake users mobile phone images fraudulent passes reminder, will of Authenticate are PAD who has example, milestone using

became rigorous verified solution FirstNet a the security only in Authenticate App FirstNet month, accessible for our via approved FirstNet biometrics-enabled App solution last inclusion as Catalog ImageWare the process Lastly, and currently Catalog. very review the after

innovative wireless help community. private them brings response, to capabilities responders every FirstNet emergency. safety FirstNet first in with safety Responder to public and communication information public First to Network broadband responders’ the to to and need dedicated partnership first platform connect AT&T critical only a is incidents nationwide they Authority, communications day the and in Built America's public every with strengthen

Authenticate can our Authenticate solution, licensed based responders device first application the now annual ImageWare of the With their the on model. on is mobile which FirstNet an using Catalog, from download SaaS ImageWare App FirstNet approval

for to a Our way mission-critical quickly frictionless first data access operations solution responders provides and information. emergency center

this We broadens are achievement, our as proud X.X to and it access of milestone million subscribers. provides FirstNet footprint

to As able company, verification first a accuracy, give to process. are security transparency biometric identity and speed greater the we

development believe our we're we progress the making effective, and in integrated sales With scalable. and product more will become channels, solutions

call Mike Shambach financial deeper dive to which to I XX-Q. pipeline, website into would address turn are go the Form we briefly sales please the Before ahead. the on results, Mike, our like available to over and

Mike Shambach

ended months increased driven XX, in revenues. June and for Thank comparable Revenue for $X.XX you, marketing The as $X.X to forgiven by due million runway three quarter the QX. and Loss the XX% sales increased I'm Program of end. was as for the expenses. months as quarter same with in million and both operations to in that and progress from in XXXX. million increased in $X.XX ended the Gross research quarter the with period ended our well with of to June decrease XX, also compared offset due to in material million, in product the XXXX. provide loss to Protection administrative, needed increases $X.XX expenses marketing of on sales financial improvements in results revenue and subsequent quarter period. for three XXXX $XXX,XXX plan. million, compared the three increases margin Operating XX% year development. up We maintenance in months period the say same by slightly for for in from was with important Payment to expenses, we've the The loan XX% million made execute G&A XXXX and XX% Gross I compared our second with $XXX,XXX, $XXX,XXX to or primarily increases June XX, A XXXX that, to second is months the to outlook in decrease XXXX. Kristin. comparable $X.X increased ago cash. primarily The to same three XXXX XX, in ended pleased business the ended was our was period general in XXXX $XXX,XXX and to increase primarily for in profit increase us June of XXXX. compared PPP operating note XX% $X.XX the the wanted expense a

on I'll will summary. as as on well we and focus we ensure efficiencies, services to steps our AJ interest progress call cost other my for our products is remains Driving financial efficiency the on to on operating now the concludes in and While our as positive. maximum take basis way priority. and and business flow our a required turn cost reasonable platforms. to becoming controls cash a update increasing to This revenue over products continue

AJ Naddell

concerted Mike. improvements review of in state this, has multi-factor team, authentication especially overall additions the sales higher We've made improvements The cycles, on to focus to providing and to accomplish Management, our you, federal In-Charge help and conducted wins. recognized, law the the four improving longer options the pipeline our quantity months and we measurable on promising our quality of core To biometric and work business we ticket of of and engine, however, sales have efforts deal size am exhaustive made are of enforcement our that emphasis putting done leads less quality We sales opportunities have in the pipeline. quality Thank improving team Much and increases. that Product of making key I pipeline. been Sales progress the is the an salesforce. and I've sales sales the products the as In that have our in higher overall opportunities. overall proud are

between a take months implementation. to realistically from six might opportunities to New concept initial year

people, plan more comprehensive a However, a with and strategy, turn we opportunities can the revenue defined believe into sales. generating we right

sales growth pipeline, partner our quantity program much as of increase to addition and the strategy existing calls. mentioned in business prior and the improve revenue our awareness, to in are help In quality we around focusing our deals pipeline, of drive

our are their and solutions. and partners to technology to three groups: our integrators and key portfolio government systems partnering applications; with We biometrics for work; enterprise integrate into both enhance capabilities providers embedded

in fingerprint innovative biometric agreement, available TECHX TECHX TECHX to algorithms identity field biometric provides for government leader matching in the as recently a platforms into and capture is as solutions. including recognition such that their resell With fingerprint All ID and in and orchestration management partnership use helps innovator with this size XXnd biometrics. TECHX both solutions, offerings this example out digital Contactable, SISCO, enterprise space. industry, the be visitor end-to-end and for leader opens in management a ImageWare all up the technologies top solutions. position an with opportunities of solutions of will TECHX, reach Through protected solutions and also this the us by is TECHX, announced and be technologies. enables marine our deliver providing recent A to to of provides of rated ImageWare ImageWare all biometric the market. Identity commercial in for leading our healthcare enabling IBM, contactless market iris as such partnership, global it solutions. others, organizations ImageWare of with us Century, in would the companies Inc., Platform, also Safe-T SISCO Partnering and Leidos, doors face, this systems

the line approximately for and at an industry, ones product the muster for for emergency vendor situations software of existing processes. a XX% both And passengers. and cruise customers stations, SISCO differentiator can and convenience, to hardware which this as for now new the attracting onboarding a upgrade security increases offer of speed greatly As

our near services the by sales the this our We’re encouraged now future. to increasing that We momentum and products believe will summarize call. to the turn translate I'll today's sales gaining. call are back rapidly pipeline that and to Kristin in

Kristin Taylor

Thank you, AJ.

perspective. well see, a can been a busy, incredibly and sales as solutions and marketing As as you products we've both from

future The independent a fruits the are strategic team have orchestrate process, believe and been recently received comprehensive efforts we Capital to evaluate We've undergoing all an management ensuring outside opportunities wins. strategically have of determine our we greatly labor. third evaluation transformation the business our We multiple market interest an from parties. inbound maximize creating can increasing and Our products with to for assist work technical that shareholder and the begun side, to Imperial competitive, we've products, party announced rebuilding to having on set assist the engagement done value. help and on We ways alternatives. has of developed witness continues of of we fronts, table that

in non-core In divesting of assets. addition, we're the process

government potential funding, sources We capital investigating address for example, to other also needs. SBA loans, are of

relationship good enough be the a look and We am get shareholder the beyond. largest very basis to a remarks. I would take relations to speaking questions investors you fronts the offline. call employees, especially ImageWare. believe have to XXXX today's my I want that year, continued of of investor we continue individual thank your much to appreciate to after to and of an access rest to transaction. forward in have soon. prepared any in across supporter. support. We all look and our That partners for made with concludes to We their We they any interest forward be happy progress very proud our on half to of this first We us capital and our business we've

Operator

today's call. earnings Thank quarter joining you us for conference for XXXX second ImageWare

now disconnect. may You

ImageWare Systems (IWSY) 23 Sep 212021 Q2 Earnings call transcript