Core Insights - The partnership between authID and TechDemocracy aims to enhance the adoption of passwordless authentication solutions, focusing on secure and privacy-preserving methods [1][4] - TechDemocracy will train an initial group of 25 professionals on authID's biometric solutions, which boast a false-match accuracy rate of one-in-one-billion and rapid verification speeds [2][6] - The collaboration will include the development of QuickStart accelerators to facilitate the integration of authID's biometric capabilities into existing identity management systems [3][4] Company Overview - authID specializes in biometric identity proofing and authentication, providing services that ensure enterprises can accurately identify users while maintaining privacy [6] - The company claims to deliver biometric identity proofing in 700 milliseconds and authentication in 25 milliseconds, with a focus on eliminating password-related risks [6] - TechDemocracy has over 25 years of experience in Identity and Access Management (IAM) and has conducted over 1600 global engagements, specializing in workforce IAM and customer identity management [9]

This membership underscores commitment to enhancing data protection and user privacy through industry collaboration DENVER, COLORADO, April 17, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced its membership in the Secure Technology Alliance (STA), a prominent industry association dedicated to promoting the understanding, adoption, and widespread application of secure solutions, including smart cards, embedde ...

Core Viewpoint - authID Inc. has successfully closed a registered direct offering, raising $8,150,000 through the sale of 1,811,120 shares and/or Pre-Funded Warrants at a price of $4.50 each, aimed at enhancing its biometric identity verification solutions [1][3]. Group 1: Offering Details - The offering involved the sale of 1,811,120 shares and/or Pre-Funded Warrants, generating gross proceeds of $8,150,000 before expenses [1]. - The offering was facilitated by Dominari Securities LLC and Madison Global Partners, LLC as Co-Placement Agents [2]. - The shares were offered under a shelf registration statement filed with the SEC, which was declared effective on December 13, 2024 [4]. Group 2: Company Strategy and Future Plans - The CEO of authID highlighted the shift in market perception, noting that clients are now focused on how biometric authentication can transform their businesses rather than just understanding what it is [3]. - The company plans to utilize the net proceeds from the offering for working capital and general corporate purposes [3]. - New partnerships and advisory board members have been welcomed to support the company's growth and strategic direction [3]. Group 3: Company Overview - authID provides biometric identity verification solutions, ensuring secure customer and employee logins with a patented platform that operates with high speed and accuracy [6]. - The company claims a 1-to-1-billion false match rate with its PrivacyKey Solution, emphasizing its commitment to security without storing biometric data [6]. - authID aims to combat identity fraud, cyberattacks, and account takeovers through its innovative technology [6].

Dominari Securities LLC and Madison Global Partners, LLC, acted as Co-Placement Agents for the offering. Upon closing of this Registered Direct Offering, an Advisory Board will be created, comprising of the following advisors, each having extensive experience in different industry and government sectors where authID's biometric identity solutions can address critical needs. DENVER, March 31, 2025 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ: AUID) ("authID" or the "Company"), a leading provider of biometric iden ...

The biometric verification and authentication leader was honored for setting a new standard in identity management with its advanced biometric solutions DENVER, Colorado, March 19, 2025 (GLOBE NEWSWIRE) -- authID (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced that it has once again been selected as the winner of the “Best ID Management Platform” award in the 2025 FinTech Breakthrough Awards. Presented by FinTech Breakthrough, a leading mar ...

Core Insights - authID has been awarded the "Best ID Management Platform" in the 2025 FinTech Breakthrough Awards, marking a significant recognition in the biometric identity verification sector [1][2][3] Company Overview - authID is a leading provider of biometric identity verification and authentication solutions, ensuring secure digital identity management for businesses [1][6] - The company has been recognized three times in the past four years for its innovative solutions, previously winning in 2022 and 2023 [3] Technology and Solutions - authID's biometric technology is noted for its precision, speed, and data privacy, setting a new standard in the fintech industry [2] - The PrivacyKey™ solution developed by authID stores zero biometric data while achieving a one-in-one-billion false-match accuracy and a 25ms authentication speed, addressing identity fraud and data breaches [4][6] - The platform incorporates public/private key encryption and advanced deepfake detection to enhance security and compliance [4] Industry Recognition - The FinTech Breakthrough Awards evaluate companies based on exceptional performance and growth within the financial technology sector, highlighting authID's innovative contributions [2][5]

authID Inc. (NASDAQ:AUID) Q4 2024 Earnings Conference Call March 13, 2025 5:00 PM ET Company Participants Graham Arad - General Counsel Rhon Daguro - CEO Ed Sellitto - CFO Conference Call Participants Ricky Solomon - Wilmot Advisors Operator Good afternoon, everyone, and thank you for your participation in today's conference call to discuss authID Inc.'s fourth quarter and full year 2024 financial results. I would now like to turn the call over to authID Inc.'s General Counsel, Graham Arad. Graham, please g ...

authID (AUID) Q4 2024 Earnings Call March 14, 2025 12:18 AM ET Company Participants Graham Arad - General CounselRhon Daguro - CEO & DirectorDale Daguro - VP - SolutionsEd Sellitto - Chief Financial OfficerRicky Solomon - FounderNone - Executive Operator Good afternoon, everyone, and thank you for your participation in today's conference call to discuss AuthID Fourth Quarter and Full Year twenty twenty four financial results. I would now like to turn the call over to OAuth ID General Counsel, Graham Murad. ...

Financial Results and Estimates - authID Inc. reported preliminary estimated unaudited results for the twelve months ended December 31, 2024, with significant variations expected from these estimates due to customary year-end closing and audit procedures[8] - The Company emphasizes that its final results may differ materially from preliminary estimates, which should not be viewed as a substitute for complete financial statements prepared in accordance with GAAP[8] - authID Inc. has not independently reviewed the preliminary estimates, and no warranty is made regarding the completeness or accuracy of the information presented[9] - The report does not include specific numerical results or performance metrics, focusing instead on qualitative assessments and forward-looking statements[11] Forward-Looking Statements - Forward-looking statements include expectations regarding future operations, growth, and revenue guidance for 2024, with a focus on booked Annual Recurring Revenue (bARR) and its components[11] - The Company disclaims any obligation to update or revise forward-looking statements, emphasizing the uncertainty of future performance[11] - The Company cautions investors about the risks that could affect actual results, including competition, customer retention, and economic conditions[11] Non-GAAP Financial Measures - The Company provides non-GAAP financial measures such as Adjusted EBITDA, which is used to assess operating performance and is adjusted for various expenses including interest, taxes, and stock-based compensation[12] - The presentation includes a reconciliation of Adjusted EBITDA to GAAP net loss, highlighting its importance in evaluating the Company's performance[12] Investor Relations - The Company plans to use the presentation for discussions with investors and analysts, indicating a proactive approach to investor relations[4]

Market Trends and Growth Potential - The global biometric technology market is projected to reach $50 billion by 2024, growing at a 20% CAGR to exceed $150 billion by 2030[29]. - Cybercrime costs in the U.S. are expected to rise from approximately $452 million in 2024 to over $1.8 billion by 2028, highlighting the increasing demand for secure identity solutions[25]. - The company's growth is significantly dependent on the adoption of its technology and solutions by various organizations, which is crucial for market penetration and customer retention[61]. - The market for the company's products is characterized by changing technology and increasing use of AI technologies, which may adversely affect its operations if not addressed promptly[55]. Financial Performance and Challenges - The company has an accumulated deficit of approximately $173.8 million as of December 31, 2024, and incurred an operating loss of approximately $14.3 million for the year ended December 31, 2024[46]. - Negative cash flow from operating activities was approximately $11.6 million and $8.4 million for the years ended December 31, 2024 and 2023, respectively[47]. - The company has never declared or paid cash dividends and does not anticipate doing so in the foreseeable future[115]. - The company may continue to incur net losses in 2025 due to various risks and unforeseen expenses[46]. - The company’s ability to continue as a going concern depends on financial support from stockholders and the ability to generate sufficient revenues[181]. Strategic Initiatives and Business Model - authID aims to expand its customer base by targeting key markets with high-assurance identity verification needs, focusing on regulated sectors[32]. - The company plans to invest in research and development to innovate and advance its platform, enhancing speed, accuracy, and user experience[32]. - authID's Verified platform operates on a subscription and usage-based model, generating revenue through transaction fees and active users[30]. - The company has shifted its focus towards developing a new range of software as a service (SaaS) products aimed at generating recurring revenue from a larger customer base, with contractual commitments ranging from $50,000 to $10,000,000[72]. Risks and Regulatory Environment - The company is subject to evolving AI regulations, such as the EU AI Act adopted in 2024, which may increase compliance costs and impact its operations[59]. - The company faces significant risks related to acquisitions, including integration challenges and potential dilution to stockholders[53]. - The company is subject to risks associated with governmental contracts, including competitive bidding processes and public budgetary restrictions, which could impact its financial condition and results of operations[64][66]. - Compliance with evolving cybersecurity and data privacy regulations may increase operational costs and expose the company to legal liabilities[100]. Cybersecurity and Operational Risks - Cybersecurity threats, including potential breaches of network security, pose risks to the company's operations and reputation, despite existing security measures[77][78]. - The company has established comprehensive cybersecurity risk management policies and practices, based on ISO/IEC 27001:2013 standards[119]. - The company's cybersecurity program includes regular assessments, audits, and independent reviews to ensure compliance and effectiveness[127]. - The company has seen an increase in cyberattack volume and sophistication, necessitating ongoing investments in cybersecurity measures[118]. Employee and Management Structure - The company has a total of 46 employees as of December 31, 2024, with a focus on strategic and technological leadership in the U.S.[39]. - Approximately 20% of the company's outstanding Common Stock is beneficially owned by its officers, directors, and holders of 5% of shares, giving them significant influence over corporate actions[92]. Stock and Financing Activities - The company raised approximately $10.0 million and $15.4 million in net proceeds through equity and debt financing in 2024 and 2023, respectively[49]. - The company issued 1,113,828 shares in a public offering and 1,121,482 shares in a private placement between May 23 and June 7, 2023, at a price range of $3.664 to $5.632 per share[149]. - The company plans to continue raising additional funds in 2025 to support operations and investments, although there is no guarantee that financing will be available on acceptable terms[214].