Craig Herman: Sure. Thanks, Bob. With the stronger and more capable products, our sales team is going to market with these products, and specifically, what we’re doing in SaaS, both with AwareID and ABIS is really opening up new markets for us. We incorporated a lot of the feedback into our products, specifically around document authorization in some places and layered this all into our biometric portfolio. And the efforts are really beginning to pay off across companies. There is a renewed enthusiasm not just for Knomi and AwareID, but also for Aware, the company, which we capitalized to expand into new verticals and geographies and increasing our market shares, both with direct customers and partners. .
Matt Glover : The next one is for Dave. What are the company’s capital allocation plans for the second half of 2023?
David Barcelo: Thanks, Matt. Our capital allocation is about the same as it has been. We finished Q2 with about 25 — a little over $25 million in cash and marketable securities. So this quarter, we continued to capitalize on the high interest rates in the market. And so we increased our investments in highly liquid marketable securities as you’ll see from our balance sheet. For the remainder of 2023, we plan to maintain a strong cash position with no debt and given us the freedom or optionality to evaluate any strategic opportunities that could help us drive some meaningful scale and accelerate our growth.
Matt Glover : Dave, we have another one for you. It’s a multi-part question. Can you provide the current estimated go-live date for the large-scale ABIS implementation that you referenced during both the Q4 2022 call and the first quarter 2023 conference call. Does the current quarterly revenue Q2 have any engineering services revenue associated with the ABIS implementation or Q3 and Q4 have any significant engineering services revenue from this project? Do you expect any significant recurring revenue from the ABIS project? And lastly, if so, in what quarter do you expect it to hit the top line? .
David Barcelo: Yes, thanks, Matt. That’s a long one. So to be clear, what we’re talking about here is the ABIS that was referenced in Q4 and Q1 is our first cloud ABIS. We talked about during the March call and then announced it as Miami Valley in our press last week. So we are still anticipating that contract to go live this summer, as Craig mentioned last quarter. And we’re currently in the planning phase with the customer. Yes, I think the thing to note is that unlike some of our historical programs that included significant customization and engineering services. Our AwareABIS deployments, especially the cloud ABIS includes some configuration work to implement, but they are not expected to require significant engineering services, mainly software deals.
So this contract will have a positive impact on recurring revenue once deployed. And I think the other thing to note is our timing of awards and adoptions mean that Aware has quite a bit of quarterly variation in financials. And that’s why I just want to emphasize to our investors that we continue to focus on the full year outlook, not so much the quarters. .
Matt Glover : Thanks Dave. We have another multipart question. The PR announcement for the A Safer Walk app on May 30 of 2023. Since that was the last official announcement of closing on new business, Is it fair to say that no other business of that magnitude has closed since that date? Can you provide any comment on the number of downloads of the A Safer Walk app and the likely revenue associated? My expectation is that the associated revenue with that specific application will be very small. However, if we close business of similar magnitude every day, it may add up to a significant revenue eventually. And finally, are we closing small deals on a nearly daily frequency?
