ImageWare Sales Activity Points to New Recurring Revenue Business Strategy

ImageWare has disclosed some significant new sales activity for the first quarter of 2018.

The company says that a current federal government client has decided to expand its use of ImageWare’s IWS Biometric Engine with the purchase of $730,000 in additional licenses. Meanwhile, the company’s partners have also been busy, with one bringing in a deal to provide its multimodal GoVerify ID biometric identity platform for an enterprise staff of 1,000 in a deal that is poised to expand to an additional 55,000 employees over the year to come, and another partner delivering GoVerifyID to two federal government agencies via its own cloud-based platform, in which GoVerifyID is an embedded component. Finally, Fujitsu has also purchased GoVerifyID licenses for a thousand of its employees.

News of the sales activities comes a few weeks after ImageWare issued a Q4 corporate update in which CEO Jim Miller emphasized the company’s transition to recurring revenue business model. In its new sales update, the company asserted that its various deals will produce revenues on a per user, per month basis.

“Working with our partners, combined with anticipated sales from our own sales efforts, we now expect additional sales on a regular basis and look forward to the next sales update in May,” Miller asserted.

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April 10, 2018 – by Alex Perala