San Diego Business Journal

ImageWare Systems Reports $1.1 Million in Q1 Revenue

By Mike Allen Thursday, May 15, 2014

ImageWare Systems, the San Diego maker of identity management software, reported 2014 first quarter revenue of $1.1 million compared with $900,000 for the like quarter of last year.

The net loss for the first quarter was $1.7 million, compared with a net loss of $2.8 million in the like quarter of 2013.

At March 31, the company said it held cash of $2.2 million, down from $2.4 million at Dec. 31, 2013. It holds no debt.

CEO Jim Miller said the company’s strategy of targeting large IT service providers, to provide security for their cloud customers is gaining traction. ImageWare’s partnership with IBM follows similar arrangements with Fujitsu and T-Systems, the company said.