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, 2024 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) | --- | |------------------------------------| | | | Delaware | | (State or ...

Achieves Milestone Revenue Growth for Q1 2024 With Live Production Status of Key Customers Signed in 2023Management to Host Conference Call Today at 5:30 p.m. EST DENVER, May 15, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ:AUID), a leading provider of innovative biometric identity verification and authentication solutions, today reported financial and operating results for the first quarter ended March 31, 2024. "authID continues to validate strong product market fit for our biometric identity solutions. a ...

authID to secure leading IAM provider's workforce and customer identity clients across North America from malicious, generative AI-driven cyberattacks DENVER, May 08, 2024 (GLOBE NEWSWIRE) --  authID.ai (NASDAQ:AUID), a leading provider of innovative biometric identity verification and authentication solutions, and IDMWORKS, an industry-leading identity and access management (IAM) solutions provider, today announced they have signed a reseller agreement to expand the availability of authID's biometric capab ...

Best-in-class identity fraud prevention, coupled with a secure, frictionless user experience to fortify a revolutionary online notary platform Denver, April 18, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ:AUID), a leading provider of secure, biometric identity verification and authentication solutions and National Notarial Centralized Verification System (NNCVS), today announced that NNCVS will deploy authID's biometric identity life-cycle platform to provide real-time identity assurance to the company's i ...

authID Inc. (NASDAQ:AUID) Q4 2023 Results Conference Call March 20, 2024 5:30 PM ET Company Participants Graham Arad - General Counsel Ed Sellitto - CFO Rhon Daguro - CEO Tom Szoke - CTO Graham Arad Good evening, everyone. My name is Graham Arad, General Counsel of authID. Welcome to the authID 2023 Annual Earnings Conference Call. At this time, all participants are in a listen only mode. A brief question-and-answer session will follow the formal presentation [Operator Instructions]. As a reminder, this con ...

Exhibit 99.1 authID Inc. Reports Financial and Operating Results for the Fiscal Year Ended December 31, 2023 ● Momentum drives $4 million in signed contract RPO value, a 4,800% increase over 2022 ● Accelerates realization of the Company's original June 2024 signed contracts bARR target of $3 million by 6 months Management to Host Conference Call Today at 5:30 p.m. EDT DENVER, March 20, 2024 (GLOBE NEWSWIRE) -- authID Inc. (Nasdaq: AUID), a leading provider of innovative biometric identity verification and a ...

Stock Split and Trading Symbol - The company completed a 1-for-8 reverse stock split effective July 7, 2023, with shares trading under the symbol "AUID" starting July 10, 2023[11] Biometric Identity Verification and Authentication - The Verified platform offers biometric identity verification, authentication, account recovery, and FIDO Passkey binding services[14] - Biometric identity verification matches government-issued ID documents with live user selfies, reducing fraud and speeding up onboarding[15] - Biometric identity authentication enables passwordless login and transaction validation using facial biometrics[16] - The company's biometric identity verification product, Proof, eliminates the need for in-person ID checks and provides verified identity in seconds[15] - The company's biometric identity authentication solution allows users to recover account access via facial biometrics, independent of any device[17] - The company's FIDO Passkey Binding solution enables passwordless login and transaction authentication tied to a trusted identity[18] Market Growth and Projections - The global market for identity verification and authentication is projected to grow from $48 billion in 2023 to $116 billion by 2027, with a 24.6% CAGR[27] - The global market for integrated identity platforms is estimated to reach $48 billion in 2023, growing at a 24.6% CAGR to $116 billion by 2027[27] Business Strategy and Growth - The company focuses on driving customer growth, accelerating onboarding, developing partner networks, and advancing platform innovation[28][29] - The company focuses on driving new customer growth by targeting key markets and verticals with high-assurance identity verification needs, including regulated sectors and high-risk transaction organizations[28] - The company plans to accelerate customer onboarding and usage by investing in platform integration to speed up time to revenue[28] - The company is strategically developing its partner network to expand customer reach through reseller and similar partnerships[29] - The company continues to invest in R&D and hiring top technical talent to innovate its platform, focusing on speed, accuracy, and user experience[29] - The company may pursue selective acquisitions to enhance technology capabilities, enter new markets, and develop new services[30] Sales and Pricing Model - Sales are conducted through a direct sales team and channel partners, with a subscription and usage-based pricing model[32][33] - The company operates on a subscription and usage-based model, with fees per transaction, enrolled, or active users[32] - The company expanded its sales force and technical sales support significantly in the last six months of 2023[32] Competition - The company faces competition from identity verification, authentication, and access management providers, including larger companies with significant resources[34][35] - The company faces competition from vendors offering biometric and non-biometric identity verification solutions, as well as passwordless authentication providers[34] Research and Development - Research and development efforts are focused on platform improvements, new technologies, and meeting evolving customer needs[36] Discontinued Operations - The company discontinued non-core operations, including the sale of the Cards Plus business and legacy payments software in 2022 and 2023[21] - The company completed the sale of its legacy payments software by MultiPay on June 30, 2023, and exited non-core activities in Colombia and South Africa[21] Employee and Subsidiary Information - The company has a total of approximately 22 employees as of December 31, 2023, with 17 located in the United States and the rest in Colombia[41] - The company operates through six subsidiaries, including four in the U.S., one in Colombia, and one in the United Kingdom[42] - The company has 22 employees as of December 31, 2023, with 17 based in the U.S. providing strategic and technological leadership[41] - The company has subsidiaries in the U.S., Colombia, and the U.K., including Innovation in Motion Inc., Fin Holdings, Inc., and MultiPay S.A.S.[42] Intellectual Property and Legal Compliance - The company relies on patents, trademarks, copyrights, and trade secrets to protect its proprietary technology[38] - The company is subject to data protection legislation and biometric information privacy regulations in various jurisdictions, which could significantly impact its business[40]

Momentum drives $4 million in signed contract RPO value, a 4,800% increase over 2022Accelerates realization of the Company's original June 2024 signed contracts bARR target of $3 million by 6 months Management to Host Conference Call Today at 5:30 p.m. EDT DENVER, March 20, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ:AUID), a leading provider of innovative biometric identity verification and authentication solutions, today reported financial and operating results for the full year ended December 31, 2023. ...

Conference webcast to follow at 5:30 p.m. EST DENVER, March 05, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ:AUID), a leading provider of secure identity verification and authentication solutions, today announced the Company will report financial results for the fourth quarter and fiscal year ended December 31, 2023 on Wednesday, March 20, 2024 after market close. Following the earnings release, authID Chief Executive Officer Rhon Daguro and Chief Financial Officer Ed Sellitto will host a webcast at 5:30 p. ...

Denver, Jan. 16, 2024 (GLOBE NEWSWIRE) --  authID Inc. (NASDAQ:AUID), a leading provider of secure identity verification and authentication solutions, today announced that on December 21, 2023 the Compensation Committee of the Company adopted an Inducement Grant Plan (the "Inducement Plan"), and allocated up to 185,000 shares of common stock of the Company ("Shares") to be subject to option awards under the Inducement Plan ("Options"). The Inducement Plan is intended for the grant of Options as an inducemen ...