What it Does: The San Diego-based ImageWare Systems (IWSY)company is in the business of facial recognition technology. It was recently awarded a $2.2 million contract by its largest customer, the U.S. Department of Veteran Affairs, to expand its personal identity verification (PIV) capabilities across federal, state and local lines.
Market Cap: $143 million
Trend: The U.S. government has invested a lot of money in this technology and from the looks of it must continue to do so, which is why facial recognition technology is expected to become a $6.5 billion industry by 2018.
Performance: Total revenues in the third quarter of 2013 increased 167% to $2.5 million from $938,000 in the third quarter of 2012.
Stock YTD: +111%