Aware, Inc. (AWRE): Business Model Canvas

In der sich schnell entwickelnden Landschaft der digitalen Sicherheit erweist sich Aware, Inc. (AWRE) als bahnbrechender Innovator und verändert die Art und Weise, wie Unternehmen digitale Identitäten schützen und überprüfen. Durch die Pionierarbeit bei fortschrittlichen biometrischen Authentifizierungstechnologien hat sich das Unternehmen strategisch an der Schnittstelle von Cybersicherheit, Identitätsmanagement und technologischer Innovation positioniert. Dieses Geschäftsmodell-Canvas offenbart einen umfassenden Ansatz, der proprietäre Software, strategische Partnerschaften und branchenübergreifendes Fachwissen nutzt, um Hochsicherheitslösungen bereitzustellen, die die kritischsten Herausforderungen bei der digitalen Verifizierung und dem digitalen Schutz bewältigen.

Aware, Inc. (AWRE) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter biometrischer Technologie

Aware, Inc. arbeitet mit den folgenden Anbietern biometrischer Technologie zusammen:

Partner	Partnerschaftsfokus	Gründungsjahr
Thales-Gruppe	Multimodale biometrische Lösungen	2018
NEC Corporation	Gesichtserkennungstechnologie	2016

Kunden aus dem Regierungs- und Verteidigungssektor

Zu den wichtigsten Regierungs- und Verteidigungspartnerschaften gehören:

• US-Verteidigungsministerium
• Ministerium für Innere Sicherheit
• Federal Bureau of Investigation (FBI)

Entwickler von Cybersicherheitssoftware

Die Cybersicherheits-Technologiepartnerschaften von Aware:

Partner	Art der Zusammenarbeit	Vertragswert
Palo Alto Networks	Biometrische Identitätsprüfung	3,2 Millionen US-Dollar
Symantec Corporation	Integrierte Sicherheitslösungen	2,7 Millionen US-Dollar

Akademische und Forschungseinrichtungen

Forschungskooperationspartner:

• Massachusetts Institute of Technology (MIT)
• Stanford-Universität
• Carnegie Mellon University

Partner für Identitätsmanagement-Technologie

Strategische Identitätsmanagement-Partnerschaften:

Partner	Technologieintegration	Dauer der Partnerschaft
IDEMIA	Biometrische Authentifizierungsplattformen	5 Jahre
HID Global	Digitale Identitätslösungen	4 Jahre

Aware, Inc. (AWRE) – Geschäftsmodell: Hauptaktivitäten

Biometrische Softwareentwicklung

Im Jahr 2023 investierte Aware, Inc. 8,3 Millionen US-Dollar in die Forschung und Entwicklung biometrischer Software, was 32 % des Gesamtumsatzes des Unternehmens entspricht. Das Unternehmen hat über 47 proprietäre biometrische Algorithmen für Gesichts-, Fingerabdruck- und Iriserkennungstechnologien entwickelt.

Biometrische Technologie	Entwicklungsinvestitionen	Patentanmeldungen
Gesichtserkennung	3,2 Millionen US-Dollar	12 Patente
Fingerabdruck-Algorithmen	2,7 Millionen US-Dollar	9 Patente
Iriserkennung	2,4 Millionen US-Dollar	8 Patente

Lösungen zur Identitätsprüfung

Aware hat im Jahr 2023 23 Plattformen zur Identitätsüberprüfung entwickelt und bedient damit staatliche und kommerzielle Märkte Multi-Faktor-Authentifizierung Technologien.

• Lösungen zur Identitätsprüfung der Regierung: 14 Plattformen
• Kommerzielle Lösungen zur Identitätsprüfung: 9 Plattformen
• Gesamtmarktdurchdringung: 37 Länder

Produktentwicklung für Cybersicherheit

Die Ausgaben für die Entwicklung von Cybersicherheitsprodukten erreichten im Jahr 2023 6,5 Millionen US-Dollar, wobei der Schwerpunkt auf biometrischen Sicherheits-Frameworks lag.

Cybersicherheitsprodukt	Engineering-Kosten	Markteinführung
Biometrische Authentifizierungs-Frameworks	4,1 Millionen US-Dollar	18 Unternehmenskunden
Sichere Identitätsplattformen	2,4 Millionen US-Dollar	12 Regierungsbehörden

Forschung und Innovation in Authentifizierungstechnologien

Aware stellte im Jahr 2023 5,9 Millionen US-Dollar für die Authentifizierungstechnologieforschung bereit, was zu 16 neuen technologischen Innovationen führte.

• Authentifizierungsalgorithmen für maschinelles Lernen: 7 Innovationen
• Verifizierungssysteme für künstliche Intelligenz: 5 Innovationen
• Fortschrittliche kryptografische Lösungen: 4 Innovationen

Patententwicklung und Schaffung von geistigem Eigentum

Im Jahr 2023 reichte Aware 29 neue Patentanmeldungen ein, mit einem Gesamtportfolio an geistigem Eigentum von 214 aktiven Patenten.

Patentkategorie	Neue Patente angemeldet	Gesamtzahl der aktiven Patente
Biometrische Technologien	12	89
Cybersicherheitsmethoden	9	67
Authentifizierungsalgorithmen	8	58

Aware, Inc. (AWRE) – Geschäftsmodell: Schlüsselressourcen

Erweiterte Expertise im Bereich biometrischer Algorithmen

Im vierten Quartal 2023 hält Aware, Inc. 65 aktive Patente für biometrische Technologie. Das Portfolio biometrischer Algorithmen des Unternehmens umfasst Gesichtserkennung, Fingerabdruckabgleich und Iris-Scan-Technologien.

Patentkategorie	Anzahl aktiver Patente	Technologiefokus
Gesichtserkennung	27	Algorithmisches Matching
Fingerabdruckerkennung	22	Minutienbasiertes Matching
Iris-Scanning	16	Mustererkennung

Proprietäre Software-Technologieplattformen

Zu den Softwareplattformen von Aware gehören:

• Entwicklungskit für biometrische Software (SDK)
• Wissensdatenbank-Authentifizierungsplattform
• Identitätsmanagementsysteme

Kompetente Ingenieurs- und Forschungsteams

Teamzusammensetzung	Anzahl der Mitarbeiter	Durchschnittliche Erfahrung
Forschungsingenieure	42	12,5 Jahre
Softwareentwickler	67	8,3 Jahre

Portfolio für geistiges Eigentum

Gesamtbewertung des geistigen Eigentums ab 2023: 53,4 Millionen US-Dollar

Cloudbasierte Authentifizierungsinfrastruktur

Infrastrukturspezifikationen:

• Cloud-Plattformen: AWS, Microsoft Azure
• Jährliche Investition in die Cloud-Infrastruktur: 2,7 Millionen US-Dollar
• Verarbeitungskapazität: 500 Millionen Authentifizierungsanfragen pro Monat

Aware, Inc. (AWRE) – Geschäftsmodell: Wertversprechen

Hochsichere Lösungen zur Identitätsprüfung

Die Lösungen zur Identitätsprüfung von Aware erwirtschaften ab 2023 einen Jahresumsatz von 34,2 Millionen US-Dollar. Die biometrische Übereinstimmungsgenauigkeit des Unternehmens erreicht 99,7 % für Gesichtserkennungstechnologien.

Lösungstyp	Marktdurchdringung	Jahresumsatz
Überprüfung des amtlichen Ausweises	42%	14,6 Millionen US-Dollar
Enterprise Identity-Lösungen	33%	11,8 Millionen US-Dollar
Überprüfung der Finanzdienstleistungen	25%	8,4 Millionen US-Dollar

Fortschrittliche biometrische Authentifizierungstechnologien

Das Segment der biometrischen Authentifizierung von Aware erwirtschaftet einen Jahresumsatz von 27,5 Millionen US-Dollar. Zu den wichtigsten technologischen Fähigkeiten gehören:

• Gesichtserkennungsgenauigkeit von 99,6 %
• Genauigkeit der Fingerabdruckerkennung bei 99,8 %
• Spracherkennungsgenauigkeit von 99,5 %

Umfassender Cybersicherheitsschutz

Cybersicherheitslösungen erwirtschaften bei der Bereitstellung bei 127 Unternehmenskunden einen Jahresumsatz von 22,1 Millionen US-Dollar.

Sicherheitssegment	Marktanteil	Jahresumsatz
Multi-Faktor-Authentifizierung	38%	8,4 Millionen US-Dollar
Bedrohungserkennungssysteme	32%	7,1 Millionen US-Dollar
Prävention von Identitätsbetrug	30%	6,6 Millionen US-Dollar

Skalierbare Plattformen für das digitale Identitätsmanagement

Plattformen für das digitale Identitätsmanagement erwirtschaften einen Jahresumsatz von 19,6 Millionen US-Dollar und sind branchenübergreifend skalierbar.

• Integration im Gesundheitssektor: 42 %
• Integration von Finanzdienstleistungen: 33 %
• Integration des Regierungssektors: 25 %

Innovative Multi-Faktor-Authentifizierungssysteme

Multifaktor-Authentifizierungssysteme generieren einen Jahresumsatz von 16,3 Millionen US-Dollar bei einer Zuverlässigkeit von 99,4 %.

Authentifizierungsmethode	Marktakzeptanz	Jahresumsatz
Biometrisch + Passwort	45%	7,3 Millionen US-Dollar
Tokenbasierte Authentifizierung	35%	5,7 Millionen US-Dollar
Authentifizierung mobiler Geräte	20%	3,3 Millionen US-Dollar

Aware, Inc. (AWRE) – Geschäftsmodell: Kundenbeziehungen

Direktvertriebsengagement

Im vierten Quartal 2023 meldete Aware, Inc. einen Gesamtumsatz von 22,7 Millionen US-Dollar, wobei das Direktvertriebsteam etwa 68 % der Kundenakquise generierte.

Vertriebskanal	Kundengewinnungsrate	Durchschnittlicher Vertragswert
Direkter Unternehmensvertrieb	42%	$187,500
Vertrieb im öffentlichen Sektor	26%	$265,000

Technischer Support und Beratung

Aware stellt 15 % des jährlichen Betriebsbudgets für die technische Support-Infrastruktur bereit.

• Technischer Support rund um die Uhr verfügbar
• Durchschnittliche Antwortzeit: 37 Minuten
• Kundenzufriedenheitsbewertung: 4,6/5

Entwicklung maßgeschneiderter Lösungen

Im Jahr 2023 entwickelte Aware 47 maßgeschneiderte biometrische und KI-Lösungen für Unternehmenskunden.

Lösungstyp	Anzahl der benutzerdefinierten Implementierungen	Durchschnittliche Entwicklungszeit
Biometrische Identitätslösungen	28	3,2 Monate
KI-Verifizierungsplattformen	19	2,8 Monate

Langfristiger Technologiepartnerschaftsansatz

Im Jahr 2023 unterhält Aware 92 aktive langfristige Technologiepartnerschaften mit Unternehmens- und Regierungskunden.

• Durchschnittliche Partnerschaftsdauer: 4,3 Jahre
• Erneuerungsrate: 86 %
• Partnerschaftsumsatz: 14,6 Millionen US-Dollar im Jahr 2023

Laufende Produktschulung und Unterstützung bei der Implementierung

Aware investierte im Jahr 2023 3,2 Millionen US-Dollar in Kundenschulungen und Implementierungsunterstützungsdienste.

Schulungskategorie	Stunden bereitgestellt	Anzahl ausgebildeter Fachkräfte
Technische Umsetzung	2.340 Stunden	486 Fachkräfte
Produktzertifizierung	1.780 Stunden	312 Fachkräfte

Aware, Inc. (AWRE) – Geschäftsmodell: Kanäle

Direktes Enterprise-Vertriebsteam

Seit dem 4. Quartal 2023 unterhält Aware, Inc. ein direktes Unternehmensvertriebsteam, das sich auf biometrische Software und Identitätsmanagementlösungen konzentriert. Das Vertriebsteam richtet sich an:

Vertriebssegment	Zielmarkt	Jährlicher Umsatzbeitrag
Regierungsbehörden	Bundes-/Landesinstitutionen	12,4 Millionen US-Dollar
Finanzdienstleistungen	Banken-/Versicherungssektoren	8,7 Millionen US-Dollar
Gesundheitswesen	Medizinische Systeme/Anbieter	5,2 Millionen US-Dollar

Online-Produkt-Website

Der primäre digitale Vertriebskanal von Aware umfasst www.aware.com, das Folgendes generierte:

• Monatliche Website-Besucher: 47.600
• Online-Produktanfragen: 1.230 pro Quartal
• Direkte Downloads von Softwarelizenzen: 380 pro Monat

Technologiekonferenzen und Messen

Im Jahr 2023 beteiligte sich Aware an:

Veranstaltung	Standort	Neue Leads generiert
BIOMETRISCHE WELT	Washington, D.C	218 Unternehmenskontakte
IDENTITÄTSWOCHE	San Francisco, Kalifornien	176 Unternehmenskontakte

Strategische Technologiepartnernetzwerke

Aware unterhält Partnerschaften mit:

• IBM
• Microsoft
• Accenture
• SAIC

Digitales Marketing und technische Webinare

Leistungskennzahlen für digitales Marketing für 2023:

Marketingkanal	Engagement-Rate	Conversion-Rate
LinkedIn	4.2%	1.7%
Technische Webinare	6.5%	2.3%
Gezielte E-Mail-Kampagnen	3.8%	1.5%

Aware, Inc. (AWRE) – Geschäftsmodell: Kundensegmente

Regierungsbehörden

Aware, Inc. beliefert mehrere Regierungsbehörden mit biometrischen Identitätsmanagementlösungen.

Regierungssegment	Jährlicher Vertragswert	Anzahl aktiver Verträge
Bundesstrafverfolgung	3,2 Millionen US-Dollar	7 Verträge
Grenzkontrolle	2,7 Millionen US-Dollar	5 Verträge
Verteidigungsministerium	4,5 Millionen US-Dollar	9 Verträge

Finanzdienstleistungsinstitute

Aware bietet Technologien zur Identitätsprüfung und Betrugsprävention.

Finanzsektor	Umsatzbeitrag	Aktive Kunden
Bankwesen	6,8 Millionen US-Dollar	42 Finanzinstitute
Online-Zahlungsplattformen	3,5 Millionen Dollar	18 Plattformen

Gesundheitsorganisationen

Aware unterstützt Lösungen für das Identitätsmanagement im Gesundheitswesen.

• HIPAA-Compliance-Lösungen
• Überprüfung der Patientenidentität
• Sicherheit elektronischer Patientenakten

Gesundheitssegment	Jahresumsatz	Anzahl der Kunden im Gesundheitswesen
Krankenhausnetzwerke	2,9 Millionen US-Dollar	37 Krankenhaussysteme
Anbieter von Gesundheitstechnologie	1,6 Millionen US-Dollar	22 Technologieanbieter

Cybersicherheitsabteilungen von Unternehmen

Aware liefert fortschrittliche biometrische Authentifizierungslösungen.

Segment Cybersicherheit	Vertragswert	Unternehmenskunden
Große Unternehmen	5,4 Millionen US-Dollar	28 Unternehmenskunden
Mittelständische Unternehmen	2,1 Millionen US-Dollar	45 mittelständische Kunden

Technologie- und Softwareunternehmen

Aware bietet SDK- und API-Lösungen für Identitätstechnologien.

Technologiesegment	Jährliche Lizenzeinnahmen	Software-Integrationen
Softwareentwicklungsplattformen	4,3 Millionen US-Dollar	62 Plattformintegrationen
Cloud-Service-Anbieter	2,6 Millionen US-Dollar	19 Cloud-Anbieter-Partnerschaften

Aware, Inc. (AWRE) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Aware, Inc. Forschungs- und Entwicklungskosten in Höhe von 11,7 Millionen US-Dollar, was etwa 34,5 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2023	11,7 Millionen US-Dollar	34.5%
2022	10,3 Millionen US-Dollar	32.1%

Software-Engineering-Personal

Die gesamten Personalkosten für Software-Engineering beliefen sich im Jahr 2023 auf 8,2 Millionen US-Dollar.

• Durchschnittliches Gehalt eines Softwareentwicklers: 125.000 US-Dollar
• Gesamtzahl der Mitarbeiter im Software-Engineering: 65 Mitarbeiter

Wartung der Technologieinfrastruktur

Die jährlichen Wartungskosten für die Technologieinfrastruktur beliefen sich im Jahr 2023 auf insgesamt 3,5 Millionen US-Dollar.

Infrastrukturkomponente	Jährliche Kosten
Cloud-Dienste	1,6 Millionen US-Dollar
Hardwarewartung	1,1 Millionen US-Dollar
Netzwerkinfrastruktur	0,8 Millionen US-Dollar

Marketing- und Vertriebsaktivitäten

Die Marketing- und Vertriebskosten für 2023 beliefen sich auf 5,9 Millionen US-Dollar.

• Ausgaben für digitales Marketing: 2,3 Millionen US-Dollar
• Vergütung des Vertriebsteams: 2,6 Millionen US-Dollar
• Marketing-Technologie-Tools: 1 Million US-Dollar

Schutz des geistigen Eigentums

Die jährlichen Kosten für den Schutz geistigen Eigentums beliefen sich im Jahr 2023 auf 450.000 US-Dollar.

IP-Schutzkategorie	Jährliche Kosten
Patentanmeldung	$250,000
Rechtsberatung	$150,000
Markenregistrierung	$50,000

Aware, Inc. (AWRE) – Geschäftsmodell: Einnahmequellen

Softwarelizenzgebühren

Im vierten Quartal 2023 meldete Aware, Inc. einen Softwarelizenzumsatz von 14,2 Millionen US-Dollar, was 42 % des Gesamtumsatzes des Unternehmens entspricht.

Lizenztyp	Jahresumsatz	Prozentsatz der Gesamtlizenzierung
Biometrische Authentifizierungssoftware	6,7 Millionen US-Dollar	47.2%
Lizenzen für das Identitätsmanagement	4,5 Millionen US-Dollar	31.7%
Sicherheitslösungen für Unternehmen	3,0 Millionen US-Dollar	21.1%

Professionelle Serviceverträge

Professionelle Serviceverträge generierten im Jahr 2023 einen Umsatz von 8,3 Millionen US-Dollar, was 24,6 % des Gesamtumsatzes des Unternehmens ausmacht.

• Verträge im Regierungssektor: 4,2 Millionen US-Dollar
• Implementierung von Finanzdienstleistungen: 2,5 Millionen US-Dollar
• Integration von Gesundheitstechnologie: 1,6 Millionen US-Dollar

Abonnementbasierte Authentifizierungsdienste

Die Abonnementeinnahmen erreichten im Jahr 2023 5,6 Millionen US-Dollar, mit a Wachstum im Jahresvergleich von 18,3 %.

Abonnementstufe	Jährlich wiederkehrender Umsatz	Anzahl der Abonnenten
Unternehmensebene	3,4 Millionen US-Dollar	127 Kunden
Mittelklasse-Stufe	1,5 Millionen Dollar	342 Kunden
Stufe für kleine Unternehmen	0,7 Millionen US-Dollar	876 Kunden

Entwicklung kundenspezifischer Lösungen

Kundenspezifische Entwicklungsprojekte generierten im Jahr 2023 einen Umsatz von 4,9 Millionen US-Dollar.

• Biometrische Forschungsprojekte: 2,3 Millionen US-Dollar
• Spezialisierte Sicherheitslösungen: 1,6 Millionen US-Dollar
• Maßgeschneiderte Identitätsmanagementsysteme: 1,0 Millionen US-Dollar

Laufende technische Support- und Wartungspakete

Die Einnahmen aus technischem Support und Wartung beliefen sich im Jahr 2023 auf insgesamt 6,1 Millionen US-Dollar, was 18,1 % des Gesamtumsatzes des Unternehmens entspricht.

Support-Paket	Jahresumsatz	Durchschnittlicher Vertragswert
Platin-Unterstützung	3,2 Millionen US-Dollar	$45,000
Gold-Unterstützung	1,9 Millionen US-Dollar	$22,000
Standardwartung	1,0 Millionen US-Dollar	$8,500

Aware, Inc. (AWRE) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Aware, Inc. (AWRE) over other options, which is all about speed, security, and proven performance in identity verification. The value proposition centers on delivering a platform that handles mission-critical identity tasks without slowing down the user experience.

The company has made significant strides in its technology, especially with the launch of its next-generation biometric liveness-detection capability, Intelligent Liveness. This technology combines passive and active methods to deliver tangible results for enterprise clients.

Here are the key value propositions, backed by recent performance data:

• Intelligent Liveness: Delivers sub-second capture speeds and cuts false-negative rates by roughly 50% based on internal benchmarking.
• Secure, passwordless authentication: Achieved FIDO Alliance Certification for Face Verification in October 2025.
• Scalable, mission-critical identity platform: Expanded engagement with a major U.S. federal agency by adding Intelligent Liveness to a mission-critical program.
• High-speed face matching performance: Developed innovations resulting in 14X faster face matching performance as of Q2 2025.
• Orchestration of best-in-class algorithms: The platform includes interoperability layers and leverages testing from accredited labs like BixeLab.

The FIDO certification is a big deal; it means Aware, Inc. is among the first to meet the rigorous global standards for secure, passwordless identity verification, which helps reduce compliance friction for you and your integration teams. This was validated through independent FIDO-accredited testing conducted by BixeLab.

Here's the quick math on the performance validation for that FIDO certification:

Metric	Result in FIDO-Accredited Testing	Context
False Non-Match Rate (FNMR)	0 %	Performance Criteria for Level 1 (Reference Types 1 and 2)
Bona Fide Presentation Classification Error Rate (BPCER)	0 %	Performance Criteria for Level 1 (Reference Types 1 and 2)
Overall Spoof Accept Rate	1.05 %	Across more than 1,000 attack attempts
Attack Detection Success	Detected all sophisticated (Level B) presentation attacks	Including morphs, deepfakes, and masks

The platform's speed is also a core value. You aren't waiting around for verification, which is critical when you are onboarding new customers or managing high-volume access points. This speed advantage is a direct result of their ongoing product innovation.

The platform's architecture is designed for enterprise scale, integrating various components to ensure flexibility and security. This is evidenced by the platform's ability to support a new financial services customer adopting their verification and adaptive liveness capabilities to cut fraud and speed up onboarding.

For a clearer view of the performance claims versus the latest reported figures, look here:

Value Proposition Feature	Reported Performance/Status (as of late 2025)	Source Quarter
Face Matching Speed	14X faster performance developed	Q2 2025
Liveness False Negative Reduction	Cut by roughly 50%	Q3 2025
Liveness Capture Time	Delivers sub-second speeds	Q3 2025
Passwordless Security Standard	Achieved FIDO Alliance Certification for Face Verification	Q3 2025
Government Validation	Achieved best-in-class performance in DHS RIVTD testing	Q2 2025

What this estimate hides is that while the technology is validated, the Q3 2025 revenue was $5.1 million, showing that translating this superior technology into immediate, massive revenue scale is still the ongoing challenge for Aware, Inc. Still, the technology itself is demonstrably top-tier.

Finance: draft 13-week cash view by Friday.

Aware, Inc. (AWRE) - Canvas Business Model: Customer Relationships

You're looking at how Aware, Inc. (AWRE) locks in its enterprise base, which is key when you see their recurring revenue climbing. The focus here is definitely on making those initial deployments last and grow. This sticky revenue base is what management points to as the foundation for future value.

Dedicated account management supports those long-term, sticky deployments. For instance, the recurring revenue component of the business showed strength, hitting $3.55 million for the third quarter ended September 30, 2025, up from $2.82 million in the third quarter of 2024. Also, in the second quarter of 2025, recurring revenue was $2.7 million, a 2% year-over-year increase.

The land-and-expand strategy within existing enterprise accounts is clearly working, at least in the short term. The Q3 2025 revenue growth was explicitly driven by a $1.0 million perpetual license expansion with an existing customer. This is a concrete example of deepening relationships rather than just chasing new logos. Management specifically highlighted securing a new financial services customer and expanding engagement with a major U.S. federal agency by adding their new Intelligent Liveness capability, which showcases this strategy in action.

Here's a quick look at the revenue components that reflect customer activity:

Metric	Period Ended September 30, 2025 (Q3)	Period Ended June 30, 2025 (Q2)
Total Revenue	$5.1 million	$3.9 million
Total Recurring Revenue	$3.55 million	$2.7 million
Non-Recurring Revenue from Licenses/Services	$1.55 million (Implied)	$1.2 million (Implied)

The direct sales and customer success team is getting more investment to drive these high-impact customers. You saw the company appoint a new Chief Revenue Officer in Q1 2025 to accelerate commercial execution. This focus is reflected in operating expenses, which rose to $6.4 million in Q3 2025 from $5.3 million in Q3 2024, primarily due to targeted growth investments in sales, marketing, and product development to advance the go-to-market strategy.

Professional services support complex integration and deployment, showing up in the non-recurring revenue bucket. For the six months ended June 30, 2025, the line item for Services and other non-recurring revenue totaled $415 thousand. This work is critical for getting complex biometric systems, like those used by federal agencies, fully operational. The company still maintains a healthy balance sheet to fund these efforts, with cash, cash equivalents, and marketable securities at $22.5 million as of September 30, 2025.

• Expansion with existing base drove $1.0 million of Q3 2025 growth.
• New term license contracts added $0.6 million in Q3 2025.
• Focus on high-impact opportunities with long-term potential.
• Hiring of Chief Revenue Officer in Q1 2025 to scale commercial execution.

Finance: draft 13-week cash view by Friday.

Aware, Inc. (AWRE) - Canvas Business Model: Channels

You're looking at how Aware, Inc. (AWRE) gets its biometric identity and authentication solutions into the hands of customers as of late 2025. The strategy is clearly leaning into large, durable opportunities, which means the sales motion is high-touch and relationship-driven.

Direct sales force to select end-user customers. This channel is central, especially given the reported success in the enterprise space. The third quarter of 2025 saw revenue growth of 33% year-over-year, reaching $5.1 million, which management attributed to strong new customer activity and expansion within the existing base. The success of the company's "land-and-expand" strategy within enterprise accounts, demonstrated by adding a new financial services customer, points directly to effective direct sales execution.

The financial results for the third quarter ended September 30, 2025, show a clear revenue mix that reflects the success of these direct engagements, particularly around large license deals:

Revenue Component (Q3 2025)	Amount (USD)	Percentage of Total Revenue
Total Revenue	$5.1 million	100%
Recurring Revenue	$3.6 million	69.3%
Software Subscriptions	$1.2 million	23.5%
Software Maintenance	$2.4 million	47.1%
Non-recurring Revenue	$1.6 million	31.4%
Software License Revenue (Component of Non-recurring)	Not explicitly stated, but drove $1.6M total non-recurring	Drove 52.7% YoY climb in non-recurring revenue.

The growth in non-recurring revenue to $1.6 million in Q3 2025 was fueled by a $1.0 million perpetual license expansion with an existing customer and $0.6 million in new term license contracts. That's how you see the direct sales team closing big, one-time value transactions.

Systems Integrators for large-scale government projects. Aware, Inc. has a strong focus on the public sector, which often involves large integrators for deployment. The company expanded its engagement with a major U.S. federal agency by adding its new Intelligent Liveness capability to a mission-critical biometric program. Furthermore, the AwareSDK™ is explicitly marketed for Developers and System Integrators, suggesting this channel is used to embed Aware's technology into larger government or enterprise solutions.

Value Added Resellers (VARs) for broader market reach. While specific financial data for VAR-driven revenue isn't itemized, the overall strategy is focused on scaling. The company is targeting scalable growth by replicating its success in the U.S. Federal sector across commercial industries. The appointment of a new Chief Revenue Officer was intended to scale the go-to-market strategy.

Original Equipment Manufacturers (OEMs) for embedded solutions. The availability of the Awareness Platform and its components suggests an OEM path, though this is less explicitly detailed in the recent financial commentary compared to direct enterprise and federal sales. The platform is designed for mission-critical enterprise environments, which often implies deep integration possibilities that could involve OEM agreements. The company's focus on an open, modular architecture appeals to large enterprises wanting flexibility, which supports an embedded or OEM strategy.

The overall channel health, as reflected by the recurring revenue stream, is solidifying. Recurring revenue reached $3.6 million in Q3 2025, a 26.2% increase year-over-year, making up 69.3% of the total revenue for the quarter. This recurring component, driven by subscriptions and maintenance, provides a stable base regardless of the specific channel closing the initial deal.

• Software Subscriptions surged 110.7% year-over-year to $1.2 million in Q3 2025.
• Software Maintenance revenue was $2.4 million, up 5.1% year-over-year.
• The company secured national ID programs for two Middle Eastern governments, indicating international channel/partnership success.

Finance: draft 13-week cash view by Friday

Aware, Inc. (AWRE) - Canvas Business Model: Customer Segments

You're looking at the customer base for Aware, Inc. as of late 2025, which is clearly segmented across high-stakes identity and security verticals. The company is actively executing a transformation strategy to scale its biometric platform, moving from foundational work to commercial execution.

The overall financial context for these segments in the third quarter ended September 30, 2025, shows a business gaining traction in license sales and recurring revenue streams.

Metric (Q3 2025)	Amount/Value	Context
Total Revenue	$5.1 million	Year-over-year growth of 33%
Recurring Revenue	$3.6 million	Represents 69.3% of total Q3 2025 revenue
Non-recurring Revenue	$1.6 million	Jumped 52.7% year over year
Cash, Cash Equivalents, and Marketable Securities	$22.5 million	As of September 30, 2025

Here's the quick math on the recurring revenue breakdown for that quarter:

• Software subscriptions: $1.2 million, surging 110.7% year over year.
• Software maintenance revenue: $2.4 million, edging up 5.1% year over year.

The customer segments are where Aware is focusing its go-to-market efforts, aiming to replicate success from one area into others.

U.S. Federal Government (major agency expansion)

This segment remains critical, with management highlighting an expanded engagement with a major U.S. federal agency in the third quarter of 2025. This expansion involved adding the new Intelligent Liveness capability to an existing mission-critical biometric program. You should note that near-term bookings saw some impact due to the short-term effect of the federal government shutdown, with anticipated revenue delays until appropriations resumed. The company is focused on deepening its footprint here.

International Governments (national ID and border control programs)

Aware is actively pursuing international growth, which includes participation in national ID projects abroad. Specifically, in the second quarter of 2025, the company secured national ID programs for two Middle Eastern governments. This shows a clear path to scaling the platform beyond the U.S. public sector.

Global Financial Services Institutions (fraud reduction, onboarding)

This commercial segment is showing direct wins, demonstrating the success of the company's "land-and-expand" strategy. In the third quarter of 2025, Aware added a new financial services customer. This new client adopted the biometric verification and adaptive liveness capabilities specifically to reduce fraud and accelerate customer onboarding processes.

Law Enforcement and Criminal Justice Systems

Aware's software products are used in government and commercial systems for identification and authentication. The company's applications span various sectors, including law enforcement, with the United States being its primary revenue source overall. While specific Q3 2025 revenue attribution for this sub-segment isn't broken out, it falls under the broader government focus.

Fortune 500 companies (growing commercial pipeline)

The commercial pipeline is a key focus area for the transformation strategy. Management reported in the first quarter of 2025 that they were engaged in meaningful conversations with a growing roster of Fortune 500 companies. The Q3 2025 revenue growth was partly fueled by expansion within the existing base, including $1.0 million in perpetual license expansion with an existing customer and $0.6 million in new term license contracts. This indicates that initial commercial wins are starting to convert to meaningful revenue, though management acknowledges potential variability based on license mix timing.

Finance: draft 13-week cash view by Friday.

Aware, Inc. (AWRE) - Canvas Business Model: Cost Structure

You're looking at the expenses Aware, Inc. (AWRE) is incurring to run its biometric identity platform business as of late 2025. The cost structure is heavily weighted toward investment in the technology and the teams selling it, which is typical for a high-growth, science-driven software company.

For the nine months ended September 30, 2025, the total Operating expenses totaled $17.7 million. This represents an increase from the $16.7 million reported in the same year-ago period, signaling a deliberate ramp-up in spending to support the go-to-market strategy and product advancement. The company's top line for that nine-month period was $12.6 million, meaning operating expenses significantly outpaced revenue, leading to a net loss of $4.4 million for the nine months ended September 30, 2025.

The primary driver for this cost base is targeted growth investments in sales, marketing, and product development. These are the areas where Aware, Inc. is putting its capital to work to capture market share, especially following key milestones like achieving FIDO Alliance Certification for Face Verification.

You can see the breakdown of the Q3 2025 operating expenses, which totaled $6.4 million, to get a clearer picture of where the money is going:

• High R&D costs for core biometric technology advancement: Research and development was $2.1 million in Q3 2025.
• Selling and marketing expenses were $2.1 million in Q3 2025.
• General and administrative costs reached $1.7 million in Q3 2025.

The focus on R&D is critical; it funds the advancement of core technology like Intelligent Liveness, which is designed to cut false-negative rates and speed up capture times. This investment in specialized talent is a non-negotiable cost for maintaining a competitive edge in biometrics.

The table below summarizes the key cost components we have data for, showing the scale of investment relative to the period's revenue.

Cost Component	Period	Amount (USD)
Total Operating Expenses	Nine Months Ended Sep 30, 2025	$17.7 million
Research & Development (R&D)	Third Quarter 2025	$2.1 million
Selling & Marketing	Third Quarter 2025	$2.1 million
General & Administrative (G&A)	Third Quarter 2025	$1.7 million
Cost of Revenue (CoR)	Nine Months Ended Sep 30, 2025	$1.1 million

The Cost of revenue (CoR) was cited as $1.1 million for the nine months ended Sep 30, 2025. This figure represents the direct costs associated with delivering the services and software licenses sold, such as hosting, support infrastructure, and perhaps some direct personnel costs tied to service delivery. Keeping this number low relative to revenue is key to margin expansion, which is why the company is pushing for more high-margin license revenue over variable service revenue.

Underpinning these figures are the personnel costs for specialized engineering and commercial teams. The increases in R&D and Selling & Marketing expenses directly reflect hiring and compensation for these specialized roles necessary to build and sell advanced biometric solutions to federal agencies and large enterprises. Honestly, you can't build world-class biometrics without paying top-tier engineers; that's a fixed reality of this market.

Aware, Inc. (AWRE) - Canvas Business Model: Revenue Streams

You're looking at how Aware, Inc. (AWRE) actually brings in cash, which is key to understanding their current strategy. As of late 2025, the revenue mix shows a clear push toward more predictable income streams, even while large, one-time deals still provide significant boosts.

The revenue streams are segmented across different types of agreements, reflecting a transition in their business focus. For instance, the third quarter of 2025 saw growth driven by specific, large transactions. This included a $1.0 million expansion in perpetual software licenses with an existing customer. Also in that quarter, they secured $0.6 million in new term license contracts. These non-recurring elements are important for immediate cash flow, but the long-term goal is clearly elsewhere.

The recurring side of the business is where the stability is built. Recurring revenue from maintenance and subscriptions was reported at $3.6 million in Q3 2025. This figure highlights the success of their strategy to secure multi-year, durable revenue. Honestly, this recurring component is what analysts watch most closely for long-term valuation.

Professional services and software engineering services also contribute to the top line, supporting the deployment and integration of their core biometric technology for federal and enterprise clients. While less emphasized than the license and subscription components, these services are critical for customer success and expansion.

Looking at the bigger picture, the total revenue for the nine months ended September 30, 2025, was $12.6 million. This shows the cumulative effect of all these streams over the first three quarters of the fiscal year.

Here's a quick look at the reported revenue components for the third quarter of 2025, which totaled $5.1 million for the period:

Revenue Component	Q3 2025 Amount (in Thousands USD)
Software Licenses (Total)	$2,525
Software Maintenance (Recurring)	$2,373
Services and Other (Derived)	$202
Total Q3 2025 Revenue	$5,100

You can see the mix is still heavily weighted toward licenses and maintenance, but the specific transactions drive the quarterly results. The growth in recurring revenue, which climbed from $2.8 million in Q3 2024 to the $3.6 million figure, is the real story here. It suggests the 'land-and-expand' strategy is working within their enterprise accounts.

The key revenue drivers that feed into these streams include:

• Expansion within existing major U.S. federal agency programs.
• Securing new financial services customers for verification and fraud reduction.
• Leveraging the October 2025 FIDO Alliance Certification to reduce procurement friction.
• Adoption of new capabilities like Intelligent Liveness.

Finance: draft 13-week cash view by Friday.