Financial Performance - For the three months ended March 31, 2025, the Company earned revenue of approximately $296,000, an increase from approximately $157,000 for the same period in 2024, primarily due to new customer contracts[93] - The Company incurred a net loss of approximately $4.3 million for the three months ended March 31, 2025, compared to a net loss of approximately $3.1 million for the same period in 2024[92] - Adjusted EBITDA for continuing operations was approximately $(3.9) million for the three months ended March 31, 2025, compared to approximately $(2.4) million for the same period in 2024[92] - The Company had an accumulated deficit of approximately $178.1 million as of March 31, 2025[81] Expenses - General and administrative expenses increased by approximately $0.6 million for the three months ended March 31, 2025, driven by higher employee-related expenses due to investment in client-facing sales resources[94] - Research and development expenses rose by approximately $0.8 million for the three months ended March 31, 2025, reflecting continued investment in product capabilities and performance[95] - Cash used in operating activities increased to approximately $5.4 million for the three months ended March 31, 2025, compared to $2.9 million for the same period in 2024[100] - Cash used in investing activities was approximately $2,000 for the three months ended March 31, 2025, compared to $0 for the same period in 2024[100] - Cash used in financing activities included approximately $0.2 million for offering costs related to the repayment of the March 2025 Convertible Notes[101] Funding and Capital - The Company raised approximately $8.6 million in April and May 2025 through the sale of common stock to support operations and investments[82] - The company raised approximately $8.6 million from existing and new stockholders through registered direct offerings in April and May 2025[102] - The company anticipates needing additional funds to support operations and investments to create a sustainable organization[102] Market Conditions - The Company’s financial results are impacted by market trends in identity verification and economic conditions, which may affect spending on security methods[77] - The global economy is experiencing high levels of volatility, impacting spending on identity verification and management products, which may negatively affect revenue growth[99] - The company has made significant cut-backs in expenditure due to economic uncertainty, including reductions in force and investment freezes[99] Business Strategy - The Company plans to grow by increasing service usage among existing customers and adding new customers through direct sales and channel partners[78] - There is no guarantee that the current business plan will not change, which may require additional capital for implementation[103] Financial Position - As of March 31, 2025, the company has approximately $2.9 million in cash and $3.0 million in working capital[100] - The company has no off-balance sheet arrangements that could materially affect its financial condition[104] Technology - The PrivacyKey technology provides biometric authentication without storing biometric data, ensuring compliance with privacy standards and achieving a False Match Rate accuracy of 1:1 billion[74]

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 ...

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 Achievements - This is the third time in four years that authID has received this award, having previously won in 2022 and 2023 [3] - The company is recognized for its innovative biometric identity verification technology, which emphasizes precision, speed, and data privacy [2] Technology and Solutions - authID's platform offers biometric authentication and identity verification solutions that are designed to be fast (sub-second) and accurate, while also prioritizing privacy and compliance [4] - The PrivacyKey™ solution developed by authID stores no biometric data, achieving a false-match accuracy rate of one-in-one-billion and an authentication speed of 25 milliseconds [4] - The technology includes features such as public/private key encryption, key-rotation capabilities, and advanced deepfake detection to enhance security and combat fraud [4] Industry Context - The FinTech Breakthrough Awards highlight the most innovative companies in the financial technology industry, showcasing those that have demonstrated exceptional performance and growth [2][5] - As consumer awareness of data privacy increases, the demand for secure digital identity management solutions is growing, positioning authID favorably within the market [4]