OTCPK:IWSY

Stock Analysis Report

Executive Summary

ImageWare Systems, Inc. provides biometrically enabled software-based identity management solutions worldwide.

Snowflake

Fundamentals

Adequate balance sheet with weak fundamentals.


Similar Companies

Share Price & News

How has ImageWare Systems's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-13.0%

IWSY

-4.4%

US Software

0.07%

US Market


1 Year Return

-56.5%

IWSY

19.3%

US Software

8.9%

US Market

Return vs Industry: IWSY underperformed the US Software industry which returned 19.3% over the past year.

Return vs Market: IWSY underperformed the US Market which returned 8.9% over the past year.


Shareholder returns

IWSYIndustryMarket
7 Day-13.0%-4.4%0.07%
30 Day-25.9%-4.4%-0.3%
90 Day-52.7%-9.3%-1.6%
1 Year-56.5%-56.5%21.1%19.3%11.3%8.9%
3 Year-69.7%-69.7%108.2%99.8%46.3%36.8%
5 Year-78.0%-78.0%157.9%139.3%62.1%44.3%

Price Volatility Vs. Market

How volatile is ImageWare Systems's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is ImageWare Systems undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether ImageWare Systems is trading at an attractive price based on the cash flow it is expected to produce in the future. But as ImageWare Systems has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Examine ImageWare Systems's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through ImageWare Systems regulatory filings here.
  • Explore potentially undervalued companies in the Software industry.

Future Growth

How is ImageWare Systems forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

14.7%

Forecasted Software industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as ImageWare Systems has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has ImageWare Systems performed over the past 5 years?

-18.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: IWSY is unprofitable, and losses have increased over the past 5 years at a rate of -18.7% per year.

Accelerating Growth: Unable to compare IWSY's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: IWSY is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (19.1%).


Return on Equity

High ROE: IWSY has a negative Return on Equity (-231.2%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: IWSY is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: IWSY is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is ImageWare Systems's financial position?


Financial Position Analysis

Short Term Liabilities: IWSY's short term assets ($7.7M) exceeds its short term liabilities ($4.2M)

Long Term Liabilities: IWSY's short term assets (7.7M) exceeds its long term liabilities (4.0M)


Debt to Equity History and Analysis

Debt Level: IWSY is debt free.

Reducing Debt: IWSY had no debt 5 years ago.


Balance Sheet

Inventory Level: IWSY has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if IWSY's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: IWSY has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: IWSY has less than a year of cash runway if free cash flow continues to reduce at historical rates of -12.4% each year


Next Steps

Dividend

What is ImageWare Systems's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate IWSY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate IWSY's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if IWSY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if IWSY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IWSY's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of ImageWare Systems's salary, the management and board of directors tenure and is there insider trading?

13.8yrs

Average management tenure


CEO

Jim Miller (66yo)

29.8yrs

Tenure

US$607,162

Compensation

Mr. S. James Miller, Jr., also known as Jim, has been the Chief Executive Officer of ImageWare Systems Inc. since 1990 and has also been its Executive Chairman since 1996. Mr. Miller served as ImageWare Sy ...


CEO Compensation Analysis

Compensation vs. Market: Jim's total compensation ($USD607.16K) is about average for companies of similar size in the US market ($USD509.30K).

Compensation vs Earnings: Jim's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

13.8yrs

Average Tenure

59yo

Average Age

Experienced Management: IWSY's management team is seasoned and experienced (13.8 years average tenure).


Board Age and Tenure

7.7yrs

Average Tenure

68yo

Average Age

Experienced Board: IWSY's board of directors are considered experienced (7.7 years average tenure).


Insider Trading

Insider Buying: IWSY insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$14,70019 Sep 19
S. Miller
EntityIndividual
Role
Chief Executive Officer
CEO & Chairman of the Board
Shares30,000
Max PriceUS$0.49

Ownership Breakdown


Management Team

  • Jim Miller (66yo)

    CEO & Chairman of the Board

    • Tenure: 29.8yrs
    • Compensation: US$607.16k
  • Wayne Wetherell (67yo)

    Senior VP of Administration

    • Tenure: 18.4yrs
    • Compensation: US$280.50k
  • Dave Harding (50yo)

    Senior VP & CTO

    • Tenure: 13.8yrs
    • Compensation: US$441.77k
  • David Somerville (59yo)

    Senior Vice President of Sales & Marketing

    • Tenure: 1.8yrs
    • Compensation: US$388.12k
  • Robert Brown (57yo)

    Vice President of Sales & Business Development

    • Tenure: 4.3yrs
    • Compensation: US$386.61k

Board Members

  • Jim Miller (66yo)

    CEO & Chairman of the Board

    • Tenure: 29.8yrs
    • Compensation: US$607.16k
  • Neal Goldman (75yo)

    Director

    • Tenure: 7.2yrs
    • Compensation: US$44.04k
  • Bob Clutterbuck (68yo)

    Independent Director

    • Tenure: 2.1yrs
    • Compensation: US$52.18k
  • Dana Kammersgard (63yo)

    Independent Director

    • Tenure: 3.4yrs
    • Compensation: US$51.70k
  • David Loesch (75yo)

    Independent Director

    • Tenure: 18.1yrs
    • Compensation: US$44.04k
  • Guy Hamm (72yo)

    Independent Director

    • Tenure: 15yrs
    • Compensation: US$47.04k
  • John Cronin (64yo)

    Independent Director

    • Tenure: 7.7yrs
    • Compensation: US$44.04k
  • David Carey (74yo)

    Independent Director

    • Tenure: 13.7yrs
    • Compensation: US$49.04k
  • Charles Frischer (52yo)

    Independent Director

    • Tenure: 2.1yrs
    • Compensation: US$52.18k

Company Information

ImageWare Systems, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ImageWare Systems, Inc.
  • Ticker: IWSY
  • Exchange: OTCPK
  • Founded: 1987
  • Industry: Application Software
  • Sector: Software
  • Market Cap: US$43.559m
  • Shares outstanding: 108.90m
  • Website: https://www.iwsinc.com

Number of Employees


Location

  • ImageWare Systems, Inc.
  • 13500 Evening Creek Drive North
  • Suite 550
  • San Diego
  • California
  • 92128
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IWSYOTCPK (Pink Sheets LLC)YesCommon StockUSUSDMay 2000

Biography

ImageWare Systems, Inc. provides biometrically enabled software-based identity management solutions worldwide. Its flagship product is the IWS Biometric Engine, a multi-biometric software platform that ena ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 23:36
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.