Valuation, from the filing
| Public float | $27.31M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $1.26 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
43.2× earnings today, against a median of 69.0× across 3 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2018-06-30 | $53.30M | 43.2× | |
| 2017-06-30 | $69.04M | 69.0× | |
| 2016-06-30 | $62.58B | 15252.6× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Services-Prepackaged Software filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Gross margin | 92.3% | 99th | |
| Current ratio | 3.77x | 86th | |
| FCF margin | -32.2% | 15th | |
| R&D / revenue | 48.0% | 84th | |
| Revenue YoY growth | -0.6% | 24th | |
| Operating margin | -37.9% | 25th | |
| Net margin | -34.0% | 26th | |
| SBC / revenue | 6.8% | 27th | |
| CapEx / revenue | 1.0% | 55th |
AWARE INC /MA/ (AWRE) reported revenue of $4.42M and net income of -$791.00K for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from AWARE INC /MA/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Prepackaged Software.
Income
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.42M | $3.25M | $3.39M | $4.66M | $5.13M | $3.90M | $3.61M | $4.80M | $3.85M | $4.32M |
| Cost of revenue | $439.00K | $520.00K | $334.00K | $465.00K | $419.00K | $267.00K | $173.00K | $18.00K | $270.00K | $270.00K |
| Gross profit | $3.98M | $2.73M | $3.05M | $4.20M | $4.71M | $3.63M | $3.44M | $4.78M | $3.58M | $4.05M |
| Operating income | -$940.00K | -$2.74M | -$3.65M | -$1.45M | -$1.30M | -$1.96M | -$1.85M | -$1.47M | -$1.47M | -$1.34M |
| Net income | -$791.00K | -$2.56M | -$3.46M | -$1.45M | -$1.05M | -$1.77M | -$1.60M | -$1.19M | -$1.17M | -$1.09M |
| Research & development | $2.30M | $2.53M | $3.22M | $2.29M | $2.13M | $1.96M | $1.92M | $1.84M | $1.87M | $1.87M |
| Weighted-average diluted shares | shares 21.73M | shares 21.66M | shares 21.59M | Unavailable | shares 21.20M | shares 21.35M | shares 21.27M | Unavailable | shares 21.19M | shares 21.10M |
| Pretax income | -$785.00K | -$2.56M | -$3.45M | -$1.24M | -$1.05M | -$1.74M | -$1.59M | -$1.19M | -$1.15M | -$1.05M |
| Income tax expense | $6.00K | $1.00K | $8.00K | $218.00K | $5.00K | $26.00K | $7.00K | -$1.00K | $15.00K | $39.00K |
| Diluted EPS | $-0.04 | $-0.12 | $-0.16 | Unavailable | $-0.05 | $-0.08 | $-0.08 | Unavailable | $-0.06 | $-0.05 |
| Selling, general & administrative | $2.62M | $2.94M | $3.48M | $3.36M | $3.87M | $3.63M | $3.36M | $4.42M | $3.17M | $3.53M |
| General & administrative | $1.47M | $1.56M | $1.66M | $1.76M | $1.77M | $1.66M | $1.70M | $2.58M | $1.32M | $1.44M |
| Selling & marketing | $1.15M | $1.38M | $1.82M | $1.60M | $2.10M | $1.96M | $1.66M | $1.84M | $1.86M | $2.09M |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.43M | $2.86M | $4.58M | $7.27M | $6.29M | $7.30M | $8.45M | $12.97M | $11.22M | $11.51M |
| Total assets | $30.78M | $29.60M | $33.20M | $37.20M | $40.28M | $38.10M | $39.90M | $42.64M | $43.72M | $43.22M |
| Current assets | $22.53M | $21.13M | $24.50M | $28.26M | $31.24M | $28.84M | $30.41M | $32.98M | $33.85M | $33.13M |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $7.50M | $5.66M | $6.87M | $7.50M | $9.29M | $6.29M | $6.56M | $7.86M | $7.83M | $6.48M |
| Total equity incl. NCI | $20.04M | $20.64M | $22.89M | $26.14M | $27.24M | $28.05M | $29.47M | $30.90M | $31.89M | $32.60M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $4.36M | $1.94M | $2.39M | $3.01M | $6.21M | $2.49M | $2.83M | $2.92M | $4.04M | $3.66M |
| Goodwill | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M | $3.12M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | $1.04M | $549.00K | $732.00K | $1.04M | $943.00K | $506.00K | $748.00K | $894.00K | $816.00K | $603.00K |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.43M | -$2.76M | -$2.68M | $1.05M | -$2.35M | -$1.15M | -$2.94M | $683.00K | -$765.00K | -$668.00K |
| Capital expenditures | $0 | $0 | $0 | $120.00K | $0 | $0 | $45.00K | $0 | $0 | Unavailable |
| Investing cash flow | $1.00M | $1.00M | -$16.00K | -$120.00K | $1.34M | $32.00K | -$1.52M | $1.25M | $44.00K | -$1.73M |
| Financing cash flow | $0 | $47.00K | $0 | $51.00K | $6.00K | -$35.00K | -$53.00K | -$184.00K | -$13.00K | Unavailable |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $253.00K | $321.00K | $269.00K | $264.00K | $342.00K | $382.00K | $180.00K | $505.00K | $220.00K | $243.00K |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $0 | $0 | $0 | $0 | $0 | $62.00K | $53.00K | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $139.00K | $140.00K | $139.00K | $141.00K | $144.00K | $143.00K | $144.00K | $141.00K | $142.00K | $140.00K |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$1.43M | -$2.76M | -$2.68M | $926.00K | -$2.35M | -$1.15M | -$2.98M | $683.00K | -$765.00K | Unavailable |
| Gross margin | 90.1% | 84.0% | 90.1% | 90.0% | 91.8% | 93.1% | 95.2% | 99.6% | 93.0% | 93.8% |
| Operating margin | -21.3% | -84.2% | -107.8% | -31.1% | -25.2% | -50.3% | -51.3% | -30.7% | -38.1% | -31.0% |
| FCF margin | -32.4% | -84.9% | -79.1% | 19.9% | -45.9% | -29.6% | -82.7% | 14.2% | -19.9% | Unavailable |
| SBC / revenue | 5.7% | 9.9% | 7.9% | 5.7% | 6.7% | 9.8% | 5.0% | 10.5% | 5.7% | 5.6% |
| Current ratio | 3.00x | 3.73x | 3.56x | 3.77x | 3.36x | 4.59x | 4.64x | 4.19x | 4.32x | 5.11x |
| Revenue YoY growth | -13.9% | -16.5% | -6.2% | -2.8% | 33.3% | -9.9% | -18.4% | 9.7% | -39.7% | 35.7% |
| Net margin | -17.9% | Unavailable | Unavailable | -31.2% | -20.5% | Unavailable | Unavailable | -24.8% | -30.3% | Unavailable |
| R&D / revenue | 52.0% | 77.8% | 95.2% | 49.0% | 41.5% | 50.3% | 53.3% | 38.3% | 48.7% | 43.2% |
| CapEx / revenue | 0.0% | 0.0% | 0.0% | 2.6% | 0.0% | 0.0% | 1.2% | 0.0% | 0.0% | Unavailable |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open AWRE in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.