Consty, Inc. (AWRE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da Segurança Digital, a CENDE, INC. (AWRE) surge como um inovador de ponta, transformando como as organizações protegem e verificam as identidades digitais. Ao pioneiro em tecnologias avançadas de autenticação biométrica, a empresa se posicionou estrategicamente na interseção da segurança cibernética, gerenciamento de identidade e inovação tecnológica. Esse modelo de negócios de negócios revela uma abordagem abrangente que aproveita o software proprietário, parcerias estratégicas e experiência em vários setors para fornecer soluções de alta segurança que abordam os desafios mais críticos na verificação e proteção digital.

CENHORIA, INC. (AWRE) - Modelo de negócios: Parcerias -chave

Provedores de tecnologia biométrica

A CENGED, Inc. colabora com os seguintes provedores de tecnologia biométrica:

Parceiro	Foco em parceria	Ano estabelecido
Grupo Thales	Soluções biométricas multimodais	2018
NEC Corporation	Tecnologia de reconhecimento facial	2016

Clientes do setor de governo e de defesa

As principais parcerias governamentais e de defesa incluem:

• Departamento de Defesa dos EUA
• Departamento de Segurança Interna
• Federal Bureau of Investigation (FBI)

Desenvolvedores de software de segurança cibernética

Parcerias de tecnologia de segurança cibernética da CENGA:

Parceiro	Tipo de colaboração	Valor do contrato
Redes Palo Alto	Verificação de identidade biométrica	US $ 3,2 milhões
Symantec Corporation	Soluções de segurança integradas	US $ 2,7 milhões

Instituições acadêmicas e de pesquisa

Parceiros de colaboração de pesquisa:

• Instituto de Tecnologia de Massachusetts (MIT)
• Universidade de Stanford
• Universidade Carnegie Mellon

Parceiros de Tecnologia de Gerenciamento de Identidade

Parcerias de gerenciamento estratégico de identidade:

Parceiro	Integração de tecnologia	Duração da parceria
Idemia	Plataformas de autenticação biométrica	5 anos
HID Global	Soluções de identidade digital	4 anos

Consty, Inc. (AWRE) - Modelo de Negócios: Atividades -chave

Desenvolvimento de software biométrico

Em 2023, a Conspwer, Inc. investiu US $ 8,3 milhões em P&D de software biométrico, representando 32% da receita total da empresa. A empresa desenvolveu mais de 47 algoritmos biométricos proprietários entre tecnologias de reconhecimento facial, de impressão digital e íris.

Tecnologia biométrica	Investimento em desenvolvimento	Aplicações de patentes
Reconhecimento facial	US $ 3,2 milhões	12 patentes
Algoritmos de impressão digital	US $ 2,7 milhões	9 patentes
Reconhecimento da íris	US $ 2,4 milhões	8 patentes

Soluções de verificação de identidade

Consciente desenvolveu 23 plataformas de verificação de identidade em 2023, servindo mercados governamentais e comerciais com Autenticação multifatorial tecnologias.

• Soluções de verificação de identidade do governo: 14 plataformas
• Soluções de verificação de identidade comercial: 9 plataformas
• Penetração total de mercado: 37 países

Engenharia de produtos de segurança cibernética

Os gastos com engenharia de produtos de segurança cibernética atingiram US $ 6,5 milhões em 2023, com foco nas estruturas de segurança biométricas.

Produto de segurança cibernética	Custo de engenharia	Implantação de mercado
Estruturas de autenticação biométrica	US $ 4,1 milhões	18 clientes corporativos
Plataformas de identidade seguras	US $ 2,4 milhões	12 agências governamentais

Pesquisa e inovação em tecnologias de autenticação

A ciente alocou US $ 5,9 milhões para a pesquisa em tecnologia de autenticação em 2023, resultando em 16 novas inovações tecnológicas.

• Algoritmos de autenticação de aprendizado de máquina: 7 inovações
• Sistemas de verificação de inteligência artificial: 5 inovações
• Soluções criptográficas avançadas: 4 inovações

Desenvolvimento de patentes e criação de propriedade intelectual

Em 2023, o CENCE apresentou 29 novos pedidos de patente, com um portfólio total de propriedades intelectuais de 214 patentes ativas.

Categoria de patentes	Novas patentes apresentadas	Total de patentes ativas
Tecnologias biométricas	12	89
Métodos de segurança cibernética	9	67
Algoritmos de autenticação	8	58

CENHORIA, INC. (AWRE) - Modelo de negócios: Recursos -chave

Experiência avançada de algoritmo biométrico

A partir do quarto trimestre 2023, a CEAR, Inc. possui 65 patentes de tecnologia biométrica ativa. O portfólio de algoritmo biométrico da empresa abrange o reconhecimento facial, a correspondência de impressões digitais e as tecnologias de digitalização de íris.

Categoria de patentes	Número de patentes ativas	Foco em tecnologia
Reconhecimento facial	27	Correspondência algorítmica
Reconhecimento de impressões digitais	22	Materia baseada em minúcias
Íris digitalizando	16	Reconhecimento de padrões

Plataformas de tecnologia de software proprietárias

As plataformas de software do consciente incluem:

• Kit de Desenvolvimento de Software Biométrico (SDK)
• Plataforma de autenticação da base de conhecimento
• Sistemas de gerenciamento de identidade

Equipes de engenharia e pesquisa qualificadas

Composição da equipe	Número de funcionários	Experiência média
Engenheiros de pesquisa	42	12,5 anos
Desenvolvedores de software	67	8,3 anos

Portfólio de propriedade intelectual

Avaliação total da propriedade intelectual em 2023: US $ 53,4 milhões

Infraestrutura de autenticação baseada em nuvem

Especificações de infraestrutura:

• Plataformas em nuvem: AWS, Microsoft Azure
• Investimento anual de infraestrutura em nuvem: US $ 2,7 milhões
• Capacidade de processamento: 500 milhões de solicitações de autenticação por mês

CENHORIA, INC. (AWRE) - Modelo de negócios: proposições de valor

Soluções de verificação de identidade de alta segurança

As soluções de verificação de identidade da consciência geram US $ 34,2 milhões em receita anual a partir de 2023. A precisão da correspondência biométrica da empresa atinge 99,7% para tecnologias de reconhecimento facial.

Tipo de solução	Penetração de mercado	Receita anual
Verificação do ID do governo	42%	US $ 14,6 milhões
Soluções de identidade corporativa	33%	US $ 11,8 milhões
Verificação de serviços financeiros	25%	US $ 8,4 milhões

Tecnologias avançadas de autenticação biométrica

O segmento de autenticação biométrica da CENCE gera US $ 27,5 milhões em receita anual. Os principais recursos tecnológicos incluem:

• Precisão do reconhecimento facial de 99,6%
• Precisão correspondente a impressão digital a 99,8%
• Precisão de reconhecimento de voz de 99,5%

Proteção abrangente de segurança cibernética

As soluções de segurança cibernética geram US $ 22,1 milhões em receita anual com implantação em 127 clientes corporativos.

Segmento de segurança	Quota de mercado	Receita anual
Autenticação multifatorial	38%	US $ 8,4 milhões
Sistemas de detecção de ameaças	32%	US $ 7,1 milhões
Prevenção de fraudes de identidade	30%	US $ 6,6 milhões

Plataformas de gerenciamento de identidade digital escaláveis

As plataformas de gerenciamento de identidade digital geram US $ 19,6 milhões em receita anual com escalabilidade em vários setores.

• Integração do setor de saúde: 42%
• Integração de serviços financeiros: 33%
• Integração do setor governamental: 25%

Sistemas inovadores de autenticação multifatorial

Os sistemas de autenticação de vários fatores geram US $ 16,3 milhões em receita anual, com 99,4% de confiabilidade.

Método de autenticação	Adoção de mercado	Receita anual
Biométrica + senha	45%	US $ 7,3 milhões
Autenticação baseada em token	35%	US $ 5,7 milhões
Autenticação de dispositivo móvel	20%	US $ 3,3 milhões

Consty, Inc. (Awre) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto de vendas

A partir do quarto trimestre de 2023, a CEAR, Inc. registrou US $ 22,7 milhões em receita total, com a equipe de vendas direta gerando aproximadamente 68% das aquisições de clientes.

Canal de vendas	Taxa de aquisição de clientes	Valor médio do contrato
Vendas diretas da empresa	42%	$187,500
Vendas do setor governamental	26%	$265,000

Suporte técnico e consulta

Consciente aloca 15% do orçamento operacional anual para a infraestrutura de suporte técnico.

• Suporte técnico 24/7 disponível
• Tempo médio de resposta: 37 minutos
• Classificação de satisfação do cliente: 4.6/5

Desenvolvimento de solução personalizada

Em 2023, a consciência desenvolveu 47 soluções biométricas e de IA personalizadas para clientes corporativos.

Tipo de solução	Número de implementações personalizadas	Tempo médio de desenvolvimento
Soluções de identidade biométricas	28	3,2 meses
Plataformas de verificação de IA	19	2,8 meses

Abordagem de parceria de tecnologia de longo prazo

A partir de 2023, a consciência mantém 92 parcerias de tecnologia ativa de longo prazo com clientes corporativos e governamentais.

• Duração média da parceria: 4,3 anos
• Taxa de renovação: 86%
• Receita de parceria: US $ 14,6 milhões em 2023

Treinamento contínuo de produto e assistência de implementação

A consciência investiu US $ 3,2 milhões em serviços de treinamento e implementação de implementação em 2023.

Categoria de treinamento	Horas fornecidas	Número de profissionais treinados
Implementação técnica	2.340 horas	486 profissionais
Certificação de produto	1.780 horas	312 profissionais

CENHORIA, INC. (AWRE) - Modelo de Negócios: Canais

Equipe de vendas da empresa direta

A partir do quarto trimestre 2023, a CEAR, Inc. mantém uma equipe de vendas corporativa direta focada em software biométrico e soluções de gerenciamento de identidade. A equipe de vendas metas:

Segmento de vendas	Mercado -alvo	Contribuição anual da receita
Agências governamentais	Instituições federais/estaduais	US $ 12,4 milhões
Serviços financeiros	Setores bancários/de seguros	US $ 8,7 milhões
Assistência médica	Sistemas/provedores médicos	US $ 5,2 milhões

Site de produtos online

O canal de vendas digital primário da CENGE INCLUI WWW.AWARE.COM, que gerou:

• Visitantes mensais do site: 47.600
• Consultas de produto on -line: 1.230 por trimestre
• Downloads de licença de software direto: 380 por mês

Conferências de tecnologia e feiras

Em 2023, ciente participou de:

Evento	Localização	Novos leads gerados
Mundo biométrico	Washington, DC	218 leads corporativos
Semana de identidade	San Francisco, CA.	176 leads corporativos

Redes de parceiros de tecnologia estratégica

Consciente mantém parcerias com:

• IBM
• Microsoft
• Accenture
• Saic

Marketing digital e webinars técnicos

Métricas de desempenho de marketing digital para 2023:

Canal de marketing	Taxa de engajamento	Taxa de conversão
LinkedIn	4.2%	1.7%
Webinars técnicos	6.5%	2.3%
Campanhas de e -mail direcionadas	3.8%	1.5%

Consty, Inc. (Awre) - Modelo de Negócios: Segmentos de Clientes

Agências governamentais

A C40, Inc. atende a várias agências governamentais com soluções de gerenciamento de identidade biométricas.

Segmento do governo	Valor anual do contrato	Número de contratos ativos
Aplicação da lei federal	US $ 3,2 milhões	7 contratos
Controle de fronteira	US $ 2,7 milhões	5 contratos
Departamento de Defesa	US $ 4,5 milhões	9 contratos

Instituições de Serviços Financeiros

Consciência fornece verificação de identidade e tecnologias de prevenção de fraudes.

Setor financeiro	Contribuição da receita	Clientes ativos
Bancário	US $ 6,8 milhões	42 instituições financeiras
Plataformas de pagamento online	US $ 3,5 milhões	18 plataformas

Organizações de saúde

A CENA apoia soluções de gerenciamento de identidade de assistência médica.

• Soluções de conformidade HIPAA
• Verificação da identidade do paciente
• Segurança eletrônica de registro de saúde

Segmento de saúde	Receita anual	Número de clientes de saúde
Redes hospitalares	US $ 2,9 milhões	37 sistemas hospitalares
Provedores de tecnologia de saúde	US $ 1,6 milhão	22 provedores de tecnologia

Departamentos de segurança cibernética corporativa

A CENGE fornece soluções avançadas de autenticação biométrica.

Segmento de segurança cibernética	Valor do contrato	Clientes corporativos
Grandes empresas	US $ 5,4 milhões	28 clientes corporativos
Empresas do mercado intermediário	US $ 2,1 milhões	45 clientes de mercado intermediário

Empresas de tecnologia e software

O consciente fornece soluções SDK e API para tecnologias de identidade.

Segmento de tecnologia	Receita anual de licenciamento	Integrações de software
Plataformas de desenvolvimento de software	US $ 4,3 milhões	62 integrações da plataforma
Provedores de serviços em nuvem	US $ 2,6 milhões	19 parcerias de provedores de nuvem

CENGE

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a CEAR, Inc. relatou despesas de P&D de US $ 11,7 milhões, representando aproximadamente 34,5% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 11,7 milhões	34.5%
2022	US $ 10,3 milhões	32.1%

Pessoal de engenharia de software

Os custos totais de pessoal para engenharia de software em 2023 foram de US $ 8,2 milhões.

• Salário médio de engenheiro de software: US $ 125.000
• Funcionário total de engenharia de software: 65 funcionários

Manutenção de infraestrutura de tecnologia

Os custos anuais de manutenção de infraestrutura tecnológica para 2023 totalizaram US $ 3,5 milhões.

Componente de infraestrutura	Custo anual
Serviços em nuvem	US $ 1,6 milhão
Manutenção de hardware	US $ 1,1 milhão
Infraestrutura de rede	US $ 0,8 milhão

Operações de marketing e vendas

As despesas de marketing e vendas em 2023 atingiram US $ 5,9 milhões.

• Gastes de marketing digital: US $ 2,3 milhões
• Compensação da equipe de vendas: US $ 2,6 milhões
• Ferramentas de tecnologia de marketing: US $ 1 milhão

Proteção à propriedade intelectual

Os custos anuais de proteção à propriedade intelectual foram de US $ 450.000 em 2023.

Categoria de proteção IP	Custo anual
Registro de patentes	$250,000
Consultoria legal	$150,000
Registro de marcas comerciais	$50,000

CENHORIA, INC. (AWRE) - Modelo de negócios: fluxos de receita

Taxas de licenciamento de software

A partir do quarto trimestre 2023, a CEAR, Inc. relatou receita de licenciamento de software de US $ 14,2 milhões, representando 42% da receita total da empresa.

Tipo de licença	Receita anual	Porcentagem de licenciamento total
Software de autenticação biométrica	US $ 6,7 milhões	47.2%
Licenças de gerenciamento de identidade	US $ 4,5 milhões	31.7%
Enterprise Security Solutions	US $ 3,0 milhões	21.1%

Contratos de Serviço Profissional

Os contratos de serviço profissional geraram US $ 8,3 milhões em receita para 2023, representando 24,6% da receita total da empresa.

• Contratos do setor governamental: US $ 4,2 milhões
• Implementações de serviços financeiros: US $ 2,5 milhões
• Integração de tecnologia da saúde: US $ 1,6 milhão

Serviços de autenticação baseados em assinatura

A receita de assinatura atingiu US $ 5,6 milhões em 2023, com um crescimento ano a ano de 18,3%.

Camada de assinatura	Receita recorrente anual	Número de assinantes
Nível corporativo	US $ 3,4 milhões	127 clientes
Nível do mercado intermediário	US $ 1,5 milhão	342 clientes
Camada de pequenas empresas	US $ 0,7 milhão	876 clientes

Desenvolvimento de soluções personalizadas

Os projetos de desenvolvimento personalizados geraram US $ 4,9 milhões em receita durante 2023.

• Projetos de pesquisa biométrica: US $ 2,3 milhões
• Soluções de segurança especializadas: US $ 1,6 milhão
• Sistemas de gerenciamento de identidade personalizados: US $ 1,0 milhão

Pacotes de suporte técnico e manutenção em andamento

A receita de suporte técnico e manutenção totalizou US $ 6,1 milhões em 2023, representando 18,1% da receita total da empresa.

Pacote de suporte	Receita anual	Valor médio do contrato
Suporte de platina	US $ 3,2 milhões	$45,000
Suporte de ouro	US $ 1,9 milhão	$22,000
Manutenção padrão	US $ 1,0 milhão	$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.