Denver, Colorado, June 05, 2025 (GLOBE NEWSWIRE) -- authID, a leading provider of identity proofing and biometric authentication, today announced a new integration with Ping Identity, a leader in securing digital identities for the world's largest enterprises. authID will leverage PingOne DaVinci™, a no-code identity orchestration service, enabling organizations to quickly and easily adopt privacy-preserving biometrics, which will help them eliminate the need for passwords and mitigate account takeover frau ...

Highly Qualified New Board Nominees Will Strengthen authID’s mission to Drive Growth and Value Creation for Shareholders 2025 Annual Meeting to be Held on June 26, 2025 DENVER, May 27, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID)(“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, is nominating four highly qualified executives to the Board of Directors (the “Board”), in addition to the nomination of existing directors, included within the 2025 P ...

authID (AUID) Q1 2025 Earnings Call May 13, 2025 05:00 PM ET Company Participants Graham Arad - General CounselRhon Daguro - CEO & DirectorEd Sellitto - Chief Financial OfficerGary Brode - Founder Conference Call Participants None - Analyst Operator First Quarter twenty twenty five Financial Results. After the speakers' presentation, there will be a question and answer session. If your question has been answered and you'd like to remove yourself from the queue, simply press 11 again. As a reminder, today's ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was approximately $300,000, compared to $160,000 in the same period last year, representing an increase of 87.5% [16] - Operating expenses for Q1 were $4,700,000, up from $3,300,000 a year ago and down from $4,900,000 in the previous quarter [16] - Net loss for the quarter was $4,300,000, compared to a net loss of $3,100,000 for the same period last year [16] - Adjusted EBITDA loss was $3,900,000 for Q1, compared to a loss of $2,400,000 for the same period last year [18] - Remaining performance obligation (RPO) was $13,850,000, a decrease of $410,000 from the prior quarter but an increase from $4,030,000 a year ago [17] Business Line Data and Key Metrics Changes - The company is focusing on large enterprise deals and partnerships, with significant progress reported in contract negotiations with Fortune 500 companies [8][10] - A paid live production trial agreement was signed with a global Fortune 100 retailer, indicating a move towards long-term contracts [10] - The company is also in the final stages of contract negotiations with a major identity fraud platform [10] Market Data and Key Metrics Changes - The company reported generating $13,000,000 in new pipeline in Q1, with expectations to build on this in Q2 [46] - The demand for biometric solutions is increasing, particularly due to rising concerns over cyber attacks and fraud [6][7] Company Strategy and Development Direction - The company aims to become a leader in the biometric authentication market, focusing on speed, accuracy, privacy, and interoperability [12][13] - Strategic investments have been made in privacy key technology, allowing biometric authentication without storing biometric data [12] - The company is expanding into public sector opportunities and smart city projects in South America and India [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $18,000,000 bookings target for 2025, despite delays in the sales process [19][16] - The macroeconomic environment is seen as dynamic, with potential for increased demand for biometric solutions due to rising fraud [6][7] Other Important Information - The company completed two capital raises in April and May, securing nearly $9,000,000 to improve its balance sheet and broaden its investor base [15] - The company received recognition as the best ID management platform in 2025 by FinTech Breakthrough Awards [14] Q&A Session Summary Question: When will the company start seeing leverage from partnerships? - Management indicated that they are already benefiting from partnerships and expect bookings to follow as they invest in channel partners [25][26] Question: Why are expenses high compared to revenue? - Management explained that current expenses are driven by investments in headcount for sales and R&D, which are necessary for future growth [29][30] Question: How many Fortune 500 clients are needed to meet the $18,000,000 goal? - Management stated that signing four to five large deals could potentially meet the target, with some deals large enough to cover the entire amount [36][37][40]

Financial Performance - Total revenue for Q1 2025 increased to $0.30 million, up 87.5% from $0.16 million in Q1 2024[5] - Net loss for Q1 2025 was $4.3 million, or $0.40 per share, compared to a net loss of $3.1 million, or $0.32 per share in Q1 2024[5] - Adjusted EBITDA loss for Q1 2025 was $3.9 million, compared to a loss of $2.4 million in Q1 2024, driven by increased investments[9] - Net loss for the three months ended March 31, 2025, was $4,339,467, compared to a net loss of $3,057,577 for the same period in 2024, indicating an increase in losses of about 42%[33] - Net cash flows from operating activities for the three months ended March 31, 2025, were $(5,358,306), compared to $(2,947,528) for the same period in 2024, indicating a worsening cash flow situation[33] Operating Expenses - Operating expenses for Q1 2025 were $4.7 million, compared to $3.3 million in Q1 2024, primarily due to increased headcount investment in sales and R&D[7] - The company incurred stock-based compensation expenses of $454,339 for the three months ended March 31, 2025, down from $722,971 in the same period of 2024, a decrease of about 37.1%[33] Assets and Liabilities - Total current assets decreased from $10,074,427 as of December 31, 2024, to $5,601,296 as of March 31, 2025, representing a decline of approximately 44.8%[31] - Total liabilities remained stable at $2,339,901 as of March 31, 2025, compared to $2,956,188 as of December 31, 2024, reflecting a decrease of about 20.9%[31] - Stockholders' equity decreased from $11,515,189 as of December 31, 2024, to $7,629,853 as of March 31, 2025, a decline of approximately 33.5%[31] Revenue and Bookings - Remaining Performance Obligation (RPO) as of March 31, 2025, was $13.85 million, significantly up from $4.03 million as of March 31, 2024[10] - Gross Booked Annual Recurring Revenue (bARR) for Q1 2025 was $0.01 million, down from $0.10 million in Q1 2024[11] - The company expects to close multiple Fortune 500 and multinational customers in 2025, aiming for an $18 million bookings target[5] Capital and Financing - authID secured nearly $9 million in capital through two financing rounds to enhance its balance sheet and support growth initiatives[4] - The company repaid $245,000 in convertible notes during the three months ended March 31, 2025, indicating ongoing debt management efforts[33] - Cash paid for interest increased from $9,023 in the three months ended March 31, 2024, to $13,137 in the same period of 2025, an increase of approximately 45.5%[33] Strategic Initiatives - The company is advancing partnerships with a Global Fortune 500 biometric hardware provider and a major identity fraud platform, nearing contract negotiations[8] - authID launched efforts into the Public Sector, providing a reusable identity platform for government workforces[8] Deferred Revenue - Deferred revenue increased significantly from $215,237 as of December 31, 2024, to $1,011,448 as of March 31, 2025, representing an increase of approximately 369.5%[31]

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40747 authID Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Securities r ...

DENVER, May 13, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today reported financial and operating results for the first quarter ended March 31, 2025. First Quarter 2025 vs. First Quarter 2024 Financial Summary Total revenue for the quarter increased to $0.30 million, compared to $0.16 million a year ago.Operating expenses were $4.7 million, compared to $3.3 million a year ago.Net loss was $4 ...

DENVER, May 07, 2025 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, announced on May 6, 2025, it entered into a definitive agreement, for a follow on transaction with investors led by Kyle Wool, to sell 373,060 shares of its common stock (the “Shares”), pursuant to a registered direct offering (the “Registered Direct Offering”). The purchase price for one Share will be $5.60. The aggregate gross ...

DENVER, May 06, 2025 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell approximately 373,060 shares of its common stock (the “Shares”), pursuant to a registered direct offering (the “Registered Direct Offering”). The purchase price for one Share will be $5.60. The aggregate gross proceeds from the Offering are expected ...

DENVER, April 30, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID) (“authID”), a leading provider of biometric identity verification and authentication solutions, today announced the Company will report financial results for the first quarter ended March 31, 2025 on Thursday, May 13, 2025, after the market close. Following issuance of the earnings release, authID Chief Executive Officer Rhon Daguro and Chief Financial Officer Ed Sellitto will host a webcast at 5:00 p.m. ET to discuss the financial results an ...