Analyst Summary: Aware, Inc. reported fourth quarter and fiscal year financial results ended December 31, 2022, which showed revenue growth of $10 million compared to the same quarter in the prior year, reaching a revenue total of $44 million. This growth was primarily driven by higher subscription-based revenue. The company's CEO and President stated that their business model transformation is well underway, with past investments starting to yield returns in recurring revenue. Additionally, the company has positioned itself for future growth by increasing its cash position to $29 million and securing its solutions across all three branches of the U.S. federal government and 12 of 15 departments within the executive branch. Furthermore, the company is starting to see success from the pipeline of opportunities that it has entering into 2023, which is positioning the company to achieve positive operating cashflow exiting 2023. However, investors should be aware of the risks associated with the biometrics market, intense competition from other biometrics solution providers, ongoing market demand, and acceptance of the cloud-based model for software use, among other factors that could have an impact on the company's financial results.