OTCPK:IWSY

Stock Analysis Report

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Executive Summary

ImageWare Systems, Inc. provides biometrically enabled software-based identity management solutions the United States and internationally. More Details


Snowflake Analysis

Imperfect 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

Stable Share Price: IWSY's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

4.5%

IWSY

-2.2%

US Software

-1.4%

US Market


1 Year Return

-71.3%

IWSY

59.2%

US Software

17.8%

US Market

Return vs Industry: IWSY underperformed the US Software industry which returned 64% over the past year.

Return vs Market: IWSY underperformed the US Market which returned 18.5% over the past year.


Shareholder returns

IWSYIndustryMarket
7 Day4.5%-2.2%-1.4%
30 Day36.9%4.9%4.7%
90 Day-32.4%13.1%8.2%
1 Year-71.3%-71.3%60.3%59.2%20.5%17.8%
3 Year-92.0%-92.0%146.5%138.3%42.2%32.7%
5 Year-91.5%-91.5%254.9%234.2%83.4%62.7%

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

  • Take a look at our analysis of IWSY's management and see if the CEO's compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • 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?

14.8%

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

  • Take a look at our analysis of IWSY’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on theOTC Markets Website. If you are looking for more of a qualitative research into the company, you can access ImageWare Systems's filings and announcementshere.
  • Explore growth companies in the Software industry.

Past Performance

How has ImageWare Systems performed over the past 5 years?

-15.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IWSY is currently unprofitable.

Growing Profit Margin: IWSY is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: IWSY is unprofitable, and losses have increased over the past 5 years at a rate of 15% 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 (12.8%).


Return on Equity

High ROE: IWSY's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is ImageWare Systems's financial position?


Financial Position Analysis

Short Term Liabilities: IWSY has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: IWSY has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: IWSY has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: IWSY's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet


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 sufficient cash runway for 0 months based on last reported free cash flow, but has since raised additional capital.

Forecast Cash Runway: IWSY is forecast to have sufficient cash runway for 0 months based on free cash flow estimates, but has since raised additional capital.


Next Steps

Dividend

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


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

How experienced are the management team and are they aligned to shareholders interests?

0.4yrs

Average management tenure


CEO

Kristin Taylor (53 yo)

0.58

Tenure

Ms. Kristin A. Taylor has been President and Chief Executive Officer at ImageWare Systems, Inc. since March 2, 2020 and serves as its Director since May 26, 2020. Ms. Taylor is a seasoned innovative techno ...


Leadership Team

NamePositionTenureCompensationOwnership
S. Miller
Executive Chairman of the Board24.75yrsUS$417.66k0.75%
$ 118.7k
Kristin Taylor
President0.58yrno datano data
Jonathan Morris
Senior VP0.42yrno datano data
Michael Senger
Vice President of Corporate Communicationsno datano datano data
Christopher Dickson
Vice President of Sales0.33yrno datano data
Mark Blackman
Vice President of Product Management0.42yrno datano data

0.4yrs

Average Tenure

53yo

Average Age

Experienced Management: IWSY's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
S. Miller
Executive Chairman of the Board24.75yrsUS$417.66k0.75%
$ 118.7k
Kristin Taylor
President0.58yrno datano data
Neal Goldman
Director8.17yrsUS$10.63k24.62%
$ 3.9m
Dana Kammersgard
Independent Director4.42yrsUS$12.87k0.062%
$ 9.8k
David Loesch
Independent Director19.08yrsUS$10.63k0.098%
$ 15.5k
Guy Hamm
Independent Director16yrsUS$13.63k0.075%
$ 12.0k
David Carey
Independent Director14.67yrsUS$15.63k0.077%
$ 12.3k

14.7yrs

Average Tenure

73yo

Average Age

Experienced Board: IWSY's board of directors are seasoned and experienced ( 14.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 27%.


Top Shareholders

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$15.899m
  • Shares outstanding: 138.25m
  • 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 the United States and internationally. Its flagship product is the IWS Biometric Engine, a multi-biometri ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 00:06
End of Day Share Price2020/10/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.