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 ...

Core Insights - authID reported a total revenue of $0.30 million for Q1 2025, an increase from $0.16 million in Q1 2024, indicating growth in the biometric identity verification market [6][9] - The company experienced an operating loss of $4.3 million in Q1 2025, compared to a loss of $3.1 million in the same period last year, reflecting increased operating expenses primarily due to headcount investments [10][11] - authID aims to achieve $18 million in bookings for 2025 and is in advanced discussions with multiple Fortune 500 clients [5][6] Financial Performance - Total revenue for Q1 2025 was $0.30 million, up from $0.16 million in Q1 2024 [6][9] - Operating expenses rose to $4.7 million in Q1 2025 from $3.3 million in Q1 2024, driven by increased investments in sales and R&D [9][11] - The net loss for Q1 2025 was $4.3 million, or $0.40 per share, compared to a loss of $3.1 million, or $0.32 per share in Q1 2024 [10][30] Business Developments - The company secured nearly $9 million in capital through two financing rounds to strengthen its balance sheet and expand its investor base [4][7] - authID signed a paid live production trial agreement with a Global Fortune 500 prospect, aiming for a longer-term contract upon successful completion [7] - The company is advancing integration with a blockchain-based data privacy platform and exploring opportunities in the Indian banking sector [7][8] Market Position and Recognition - authID was awarded "Best ID Management Platform" at the 2025 FinTech Breakthrough Awards, highlighting its innovative biometric identity verification technology [8] - The company is focusing on large enterprise and channel OEM segments to drive growth in the biometric authentication market [3][5] Remaining Performance Obligations - As of March 31, 2025, the Remaining Performance Obligation (RPO) was $13.85 million, significantly up from $4.03 million a year ago, indicating strong future revenue potential [12]

Core Viewpoint - authID Inc. announced a definitive agreement for a registered direct offering to sell 373,060 shares of common stock at a price of $5.60 per share, aiming to raise approximately $2,100,000 in gross proceeds before expenses [1][2]. Group 1: Offering Details - The closing of the registered direct offering occurred on May 7, 2025, with all closing conditions satisfied [2]. - Dominari Securities LLC and Madison Global Partners, LLC acted as Co-Placement Agents for the offering [2]. - The shares were offered under a shelf registration statement filed with the SEC, which was declared effective on December 13, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes [2]. Group 3: Company Overview - authID Inc. provides biometric identity verification and authentication solutions, ensuring enterprises "Know Who's Behind the Device™" for customer and employee logins [5]. - The company’s biometric identity platform offers rapid identity proofing in 700 milliseconds and authentication in 25 milliseconds, with a false match rate of 1 in 1 billion [5].

Core Viewpoint - authID Inc. has announced a definitive agreement to sell approximately 373,060 shares of its common stock at a price of $5.60 per share, aiming to raise approximately $2.1 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The Registered Direct Offering is expected to close on or about May 7, 2025, pending customary closing conditions [2]. - Dominari Securities LLC and Madison Global Partners, LLC are acting as Co-Placement Agents for the offering [2]. - The shares are being offered under a shelf registration statement filed with the SEC, which was declared effective on December 13, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes [2]. Group 3: Company Overview - authID Inc. specializes in biometric identity verification and authentication solutions, ensuring enterprises can accurately identify users behind devices [5]. - The company’s biometric identity platform offers rapid identity proofing in 700 milliseconds and authentication in 25 milliseconds, with a high accuracy rate and no storage of biometric data [5].

Core Viewpoint - authID is set to report its financial results for Q1 2025 on May 13, 2025, after market close, followed by a webcast for discussion [1] Group 1: Financial Reporting - The financial results for the first quarter ended March 31, 2025, will be announced on May 13, 2025 [1] - A webcast will be hosted by the CEO and CFO at 5:00 p.m. ET to discuss the results and provide a corporate update [1] Group 2: Participation Details - Participants can register for the live conference call through a provided link to receive dial-in details [2] - It is recommended that participants join the call 15 minutes early to avoid delays [2] - A live webcast will also be available on the company's website [2] Group 3: Company Overview - authID provides biometric identity verification and authentication solutions, ensuring enterprises "Know Who's Behind the Device™" [4] - The company offers a patented biometric identity platform with rapid biometric identity proofing in 700ms and authentication in 25ms [4] - The PrivacyKey Solution boasts a 1-to-1-billion false match rate while storing no biometric data, effectively preventing fraud and account takeovers [4]

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 ...