Aware, Inc. (AWRE): Canvas du modèle d'entreprise [Jan-2025 MISE À JOUR]

Dans le paysage en évolution rapide de la sécurité numérique, Aware, Inc. (AWRE) émerge comme un innovateur de pointe, transformant la façon dont les organisations protègent et vérifient les identités numériques. En pionnier des technologies avancées d'authentification biométrique, l'entreprise s'est stratégiquement positionnée à l'intersection de la cybersécurité, de la gestion de l'identité et de l'innovation technologique. Cette toile de modèle commercial révèle une approche complète qui tire parti des logiciels propriétaires, des partenariats stratégiques et de l'expertise multisectorielle pour fournir des solutions de haute sécurité qui relèvent les défis les plus critiques de la vérification et de la protection numériques.

Aware, Inc. (AWRE) - Modèle d'entreprise: partenariats clés

Fournisseurs de technologies biométriques

Aware, Inc. collabore avec les fournisseurs de technologies biométriques suivants:

Partenaire	Focus de partenariat	Année établie
Groupe de thales	Solutions biométriques multimodales	2018
NEC Corporation	Technologie de reconnaissance faciale	2016

Clients du secteur du gouvernement et de la défense

Les principaux partenariats du gouvernement et de la défense comprennent:

• Département américain de la défense
• Département de sécurité intérieure
• Bureau fédéral d'enquête (FBI)

Développeurs de logiciels de cybersécurité

Partenariats technologiques de cybersécurité de conscience:

Partenaire	Type de collaboration	Valeur du contrat
Réseaux palo alto	Vérification de l'identité biométrique	3,2 millions de dollars
Symantec Corporation	Solutions de sécurité intégrées	2,7 millions de dollars

Institutions universitaires et de recherche

Partners de collaboration de recherche:

• Institut de technologie du Massachusetts (MIT)
• Université de Stanford
• Université Carnegie Mellon

Partenaires technologiques de gestion de l'identité

Partenariats stratégiques de gestion de l'identité:

Partenaire	Intégration technologique	Durée du partenariat
Idémie	Plates-formes d'authentification biométriques	5 ans
Hid Global	Solutions d'identité numérique	4 ans

Aware, Inc. (AWRE) - Modèle d'entreprise: activités clés

Développement de logiciels biométriques

En 2023, Aware, Inc. a investi 8,3 millions de dollars dans la R&D des logiciels biométriques, ce qui représente 32% du total des revenus de l'entreprise. La société a développé plus de 47 algorithmes biométriques propriétaires entre les technologies de reconnaissance du visage, des empreintes digitales et de l'iris.

Technologie biométrique	Investissement en développement	Demandes de brevet
Reconnaissance faciale	3,2 millions de dollars	12 brevets
Algorithmes d'empreintes digitales	2,7 millions de dollars	9 brevets
Reconnaissance de l'iris	2,4 millions de dollars	8 brevets

Solutions de vérification d'identité

Conscience a développé 23 plateformes de vérification d'identité en 2023, au service des marchés gouvernementaux et commerciaux avec Authentification multi-facteurs technologies.

• Solutions de vérification d'identité gouvernementale: 14 plateformes
• Solutions de vérification d'identité commerciale: 9 plateformes
• Pénétration totale du marché: 37 pays

Ingénierie de produits de cybersécurité

Les dépenses d'ingénierie des produits de cybersécurité ont atteint 6,5 millions de dollars en 2023, en mettant l'accent sur les cadres de sécurité biométriques.

Produit de cybersécurité	Coût d'ingénierie	Déploiement du marché
Cadres d'authentification biométrique	4,1 millions de dollars	18 clients d'entreprise
Plateformes d'identité sécurisées	2,4 millions de dollars	12 agences gouvernementales

Recherche et innovation dans les technologies d'authentification

Aware a alloué 5,9 millions de dollars à la recherche sur la technologie d'authentification en 2023, ce qui a entraîné 16 nouvelles innovations technologiques.

• Algorithmes d'authentification d'apprentissage automatique: 7 innovations
• Systèmes de vérification de l'intelligence artificielle: 5 innovations
• Solutions cryptographiques avancées: 4 innovations

Développement des brevets et création de propriété intellectuelle

En 2023, Awards a déposé 29 nouvelles demandes de brevet, avec un portefeuille total de propriétés intellectuelles de 214 brevets actifs.

Catégorie de brevet	Nouveaux brevets déposés	Brevets actifs totaux
Technologies biométriques	12	89
Méthodes de cybersécurité	9	67
Algorithmes d'authentification	8	58

Aware, Inc. (AWRE) - Modèle d'entreprise: Ressources clés

Expertise en algorithme biométrique avancé

Depuis le quatrième trimestre 2023, Aware, Inc. détient 65 brevets de technologie biométrique active. Le portefeuille d'algorithmes biométriques de la société couvre la reconnaissance faciale, la correspondance des empreintes digitales et les technologies de numérisation d'iris.

Catégorie de brevet	Nombre de brevets actifs	Focus technologique
Reconnaissance faciale	27	Correspondance algorithmique
Reconnaissance des empreintes digitales	22	Correspondance basée sur les moindres
Iris Scanning	16	Reconnaissance des modèles

Plateformes technologiques logicielles propriétaires

Les plates-formes logicielles de conscience comprennent:

• Kit de développement de logiciels biométriques (SDK)
• Plateforme d'authentification de la base de connaissances
• Systèmes de gestion de l'identité

Équipes d'ingénierie et de recherche qualifiées

Composition de l'équipe	Nombre d'employés	Expérience moyenne
Ingénieurs de recherche	42	12,5 ans
Développeurs de logiciels	67	8,3 ans

Portefeuille de propriété intellectuelle

Évaluation totale de la propriété intellectuelle en 2023: 53,4 millions de dollars

Infrastructure d'authentification basée sur le cloud

Spécifications d'infrastructure:

• Plates-formes cloud: AWS, Microsoft Azure
• Investissement annuel des infrastructures cloud: 2,7 millions de dollars
• Capacité de traitement: 500 millions de demandes d'authentification par mois

Aware, Inc. (AWRE) - Modèle d'entreprise: propositions de valeur

Solutions de vérification d'identité de haute sécurité

Les solutions de vérification de l'identité de conscience génèrent 34,2 millions de dollars de revenus annuels en 2023. La précision de contrepartie biométrique de la société atteint 99,7% pour les technologies de reconnaissance faciale.

Type de solution	Pénétration du marché	Revenus annuels
Vérification du gouvernement d'identification	42%	14,6 millions de dollars
Solutions d'identité d'entreprise	33%	11,8 millions de dollars
Vérification des services financiers	25%	8,4 millions de dollars

Technologies d'authentification biométrique avancées

Le segment d'authentification biométrique de conscience génère 27,5 millions de dollars de revenus annuels. Les capacités technologiques clés comprennent:

• Précision de reconnaissance faciale de 99,6%
• Précision d'assortiment d'empreintes digitales à 99,8%
• Précision de la reconnaissance vocale de 99,5%

Protection complète de la cybersécurité

Les solutions de cybersécurité génèrent 22,1 millions de dollars de revenus annuels avec déploiement chez 127 clients d'entreprise.

Segment de sécurité	Part de marché	Revenus annuels
Authentification multi-facteurs	38%	8,4 millions de dollars
Systèmes de détection des menaces	32%	7,1 millions de dollars
Prévention de la fraude d'identité	30%	6,6 millions de dollars

Plates-formes de gestion des identités numériques évolutives

Les plateformes de gestion de l'identité numérique génèrent 19,6 millions de dollars de revenus annuels avec évolutivité dans plusieurs secteurs.

• Intégration du secteur des soins de santé: 42%
• Intégration des services financiers: 33%
• Intégration du secteur gouvernemental: 25%

Systèmes d'authentification multi-facteurs innovants

Les systèmes d'authentification multi-facteurs génèrent 16,3 millions de dollars de revenus annuels avec une fiabilité de 99,4%.

Méthode d'authentification	Adoption du marché	Revenus annuels
Biométrique + mot de passe	45%	7,3 millions de dollars
Authentification basée sur les jetons	35%	5,7 millions de dollars
Authentification des appareils mobiles	20%	3,3 millions de dollars

Aware, Inc. (AWRE) - Modèle d'entreprise: relations avec les clients

Engagement des ventes directes

Au quatrième trimestre 2023, Aware, Inc. a déclaré 22,7 millions de dollars de revenus totaux, l'équipe de vente directe générant environ 68% des acquisitions de clients.

Canal de vente	Taux d'acquisition des clients	Valeur du contrat moyen
Ventes directes de l'entreprise	42%	$187,500
Ventes du secteur gouvernemental	26%	$265,000

Soutien technique et consultation

Le rendement alloue 15% du budget opérationnel annuel à l'infrastructure de soutien technique.

• Assistance technique 24/7 disponible
• Temps de réponse moyen: 37 minutes
• Évaluation de satisfaction du client: 4.6 / 5

Développement de solutions personnalisées

En 2023, Aware a développé 47 Solutions biométriques et AI personnalisées pour les clients d'entreprise.

Type de solution	Nombre d'implémentations personnalisées	Temps de développement moyen
Solutions d'identité biométrique	28	3,2 mois
Plates-formes de vérification de l'IA	19	2,8 mois

Approche de partenariat technologique à long terme

Depuis 2023, Aware maintient 92 partenariats technologiques à long terme actifs avec les entreprises et les clients gouvernementaux.

• Durée du partenariat moyen: 4,3 ans
• Taux de renouvellement: 86%
• Revenus de partenariat: 14,6 millions de dollars en 2023

Aide à la formation et à la mise en œuvre en cours

Awards a investi 3,2 millions de dollars dans les services de formation client et de support de mise en œuvre en 2023.

Catégorie de formation	Heures fournies	Nombre de professionnels formés
Mise en œuvre technique	2 340 heures	486 professionnels
Certification des produits	1 780 heures	312 professionnels

Aware, Inc. (AWRE) - Modèle d'entreprise: canaux

Équipe de vente directe d'entreprise

Depuis le quatrième trimestre 2023, Aware, Inc. maintient une équipe de vente directe des entreprises axée sur les solutions biométriques de gestion des logiciels et de l'identité. L'équipe de vente cible:

Segment des ventes	Marché cible	Contribution annuelle des revenus
Agences gouvernementales	Institutions fédérales / étatiques	12,4 millions de dollars
Services financiers	Secteurs bancaires / assurances	8,7 millions de dollars
Soins de santé	Systèmes / fournisseurs médicaux	5,2 millions de dollars

Site Web de produit en ligne

Le principal canal de vente numérique de conscience comprend www.aware.com, qui a généré:

• Visiteurs mensuels du site Web: 47 600
• Demandes de produits en ligne: 1 230 par trimestre
• Téléchargements directs de licence logicielle: 380 par mois

Conférences de technologie et salons professionnels

En 2023, Aware a participé à:

Événement	Emplacement	Nouvelles pistes générées
Monde biométrique	Washington, DC	218 Leads Enterprise
Semaine d'identité	San Francisco, CA	176 Entreprise Leads

Réseaux de partenaires technologiques stratégiques

Awards maintient des partenariats avec:

• Ibm
• Microsoft
• Accentuation
• Saic

Marketing numérique et webinaires techniques

Métriques de performance du marketing numérique pour 2023:

Canal de marketing	Taux d'engagement	Taux de conversion
Liendin	4.2%	1.7%
Webinaires techniques	6.5%	2.3%
Campagnes par e-mail ciblées	3.8%	1.5%

Aware, Inc. (AWRE) - Modèle d'entreprise: segments de clientèle

Agences gouvernementales

Aware, Inc. dessert plusieurs agences gouvernementales avec des solutions de gestion de l'identité biométrique.

Segment du gouvernement	Valeur du contrat annuel	Nombre de contrats actifs
Application de la loi fédérale	3,2 millions de dollars	7 contrats
Contrôle des frontières	2,7 millions de dollars	5 contrats
Département de la défense	4,5 millions de dollars	9 contrats

Institutions de services financiers

Aware fournit des technologies de vérification d'identité et de prévention de la fraude.

Secteur financier	Contribution des revenus	Clients actifs
Bancaire	6,8 millions de dollars	42 institutions financières
Plateformes de paiement en ligne	3,5 millions de dollars	18 plateformes

Organisations de soins de santé

Awice soutient les solutions de gestion de l'identité des soins de santé.

• Solutions de conformité HIPAA
• Vérification de l'identité des patients
• Sécurité des dossiers de santé électronique

Segment des soins de santé	Revenus annuels	Nombre de clients de santé
Réseaux hospitaliers	2,9 millions de dollars	37 systèmes hospitaliers
Fournisseurs de technologies de santé	1,6 million de dollars	22 fournisseurs de technologies

Départements de cybersécurité d'entreprise

Aware fournit des solutions d'authentification biométriques avancées.

Segment de cybersécurité	Valeur du contrat	Clients de l'entreprise
Grandes entreprises	5,4 millions de dollars	28 clients d'entreprise
Entreprises de marché intermédiaire	2,1 millions de dollars	45 clients du marché intermédiaire

Technologie et sociétés de logiciels

Aware fournit des solutions SDK et API pour les technologies d'identité.

Segment technologique	Revenus de licence annuelle	Intégrations logicielles
Plateformes de développement de logiciels	4,3 millions de dollars	62 Intégrations de plate-forme
Fournisseurs de services cloud	2,6 millions de dollars	19 partenariats de fournisseurs de cloud

Aware, Inc. (AWRE) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Aware, Inc. a déclaré des dépenses de R&D de 11,7 millions de dollars, ce qui représente environ 34,5% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	11,7 millions de dollars	34.5%
2022	10,3 millions de dollars	32.1%

Personnel d'ingénierie logicielle

Les coûts totaux du personnel pour l'ingénierie logicielle en 2023 étaient de 8,2 millions de dollars.

• Salaire moyen d'ingénieur logiciel: 125 000 $
• HeadCount de génie logiciel total: 65 employés

Maintenance des infrastructures technologiques

Les coûts annuels de maintenance des infrastructures technologiques pour 2023 ont totalisé 3,5 millions de dollars.

Composant d'infrastructure	Coût annuel
Services cloud	1,6 million de dollars
Maintenance matérielle	1,1 million de dollars
Infrastructure réseau	0,8 million de dollars

Opérations de marketing et de vente

Les frais de marketing et de vente pour 2023 ont atteint 5,9 millions de dollars.

• Dépenses en marketing numérique: 2,3 millions de dollars
• Compensation de l'équipe de vente: 2,6 millions de dollars
• Outils de technologie marketing: 1 million de dollars

Protection de la propriété intellectuelle

Les coûts annuels de protection de la propriété intellectuelle étaient de 450 000 $ en 2023.

Catégorie de protection IP	Coût annuel
Dépôt de brevet	$250,000
Conseil juridique	$150,000
Enregistrement des marques	$50,000

Aware, Inc. (AWRE) - Modèle d'entreprise: Strots de revenus

Frais de licence de logiciel

Au quatrième trimestre 2023, Aware, Inc. a déclaré des revenus de licence de logiciels de 14,2 millions de dollars, ce qui représente 42% du total des revenus de l'entreprise.

Type de licence	Revenus annuels	Pourcentage de licence totale
Logiciel d'authentification biométrique	6,7 millions de dollars	47.2%
Licences de gestion de l'identité	4,5 millions de dollars	31.7%
Solutions de sécurité d'entreprise	3,0 millions de dollars	21.1%

Contrats de services professionnels

Les contrats de service professionnel ont généré 8,3 millions de dollars de revenus pour 2023, représentant 24,6% du total des revenus de l'entreprise.

• Contrats du secteur gouvernemental: 4,2 millions de dollars
• Mise en œuvre des services financiers: 2,5 millions de dollars
• Intégration de la technologie des soins de santé: 1,6 million de dollars

Services d'authentification basés sur l'abonnement

Les revenus d'abonnement ont atteint 5,6 millions de dollars en 2023, avec un croissance d'une année à l'autre de 18,3%.

Niveau d'abonnement	Revenus récurrents annuels	Nombre d'abonnés
Niveau d'entreprise	3,4 millions de dollars	127 clients
Niveau intermédiaire	1,5 million de dollars	342 clients
Niveau de petite entreprise	0,7 million de dollars	876 clients

Développement de solutions personnalisées

Des projets de développement personnalisés ont généré 4,9 millions de dollars de revenus en 2023.

• Projets de recherche biométrique: 2,3 millions de dollars
• Solutions de sécurité spécialisées: 1,6 million de dollars
• Systèmes de gestion des identités sur mesure: 1,0 million de dollars

Packages de support technique en cours et de maintenance

Les revenus de soutien technique et de maintenance ont totalisé 6,1 millions de dollars en 2023, ce qui représente 18,1% du total des revenus de l'entreprise.

Package d'assistance	Revenus annuels	Valeur du contrat moyen
Support de platine	3,2 millions de dollars	$45,000
Soutien de l'or	1,9 million de dollars	$22,000
Entretien standard	1,0 million de dollars	$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.