Aware (AWRE) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $4.417M vs. $5.129M YoY; recurring revenue grew to $4.007M from $3.555M, while operating loss narrowed to $0.940M from $1.295M.

• Lower expenses reflected cost reductions; priorities include improving revenue consistency, converting opportunities and expanding existing customers.

• A government agency selected Intelligent Liveness for deployment, and a commercial relationship with an Adobe Acrobat Sign distributor advanced pipeline activity.

Financial highlights

• Q3 operating expenses were $5.4M vs. $6.4M; net loss was $0.791M vs. $1.053M.

• Q3 Adjusted EBITDA loss was $0.548M vs. $0.810M; diluted loss per share was $0.04 vs. $0.05.

• 9M revenue was $11.058M vs. $12.630M; recurring revenue was $9.625M vs. $9.181M.

• 9M operating loss was $7.330M vs. $5.107M; net loss was $6.814M vs. $4.420M.

• 9M Adjusted EBITDA loss was $6.069M vs. $3.772M; diluted loss per share was $0.31 vs. $0.21.

Outlook and guidance

• Q4 was expected to follow the typical seasonal growth pattern with a generally similar recurring/non-recurring revenue mix to Q3.

• Q4 operating expenses were expected to remain generally consistent with the lower cost structure; cost actions were expected to deliver incremental savings through year-end.

• Priorities entering 2027 include platform execution, customer expansion, opportunity conversion and improving revenue consistency; no revenue forecast was stated.

• Federal procurement cycles remain difficult to predict despite increased solicitation activity after DHS funding was restored.