ROC has been awarded a five-year contract to supply its automated biometric identification system to a federal national security program, the company said on Thursday. The award is worth up to $5.1 million including exercise of applicable options, of which $2.5 million is committed revenue.
The Denver company, listed on Nasdaq as ROC and formerly Rank One Computing, calls it the company’s first federal ABIS win. Under the contract ROC will deliver its multimodal ABIS platform along with implementation services and ongoing system support.
That is a change of role. ROC has built its business selling face and fingerprint algorithms into systems assembled by other vendors, and this contract makes it the platform supplier. “We have successfully secured our first beachhead ROC ABIS contract, a defining achievement for ROC, and a clear validation of our business strategy,” chief executive B. Scott Swann said. He added that the award “signals a transition in the government agency market, which has historically been powered by foreign-AI.”
The buyer is identified only as a major federal national security program, and the balance of the value beyond the committed $2.5 million depends on option exercises and funding. ROC did not name the agency or the mission it supports.
ROC listed on Nasdaq in December through a $23 million offering, and Swann joined the board of the International Biometrics and Identity Association in May. The company reported second-quarter revenue of $5.1 million on August 13, a figure that matches this contract total by coincidence and is unrelated to it.
The platform build has been under way for some time. In June the company agreed to acquire the digital forensics firm Zuccaro Technical Consulting for $500,000 in cash plus restricted stock, adding forensic capability to a portfolio that already spanned face and fingerprint matching and video analytics.
Federal and national ABIS procurement has been steady this year. The State Department advanced a Guatemalan ABIS into formal solicitation this month, Belgium renewed its immigration office system with IDEMIA in April, and Sweden awarded a 27.2 million SEK contract to a Thales subsidiary in March.
Sources: ROC via GlobeNewswire
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By the ID Tech Editorial Team
