DENVER, June 25, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of innovative biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell 1,464,965 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 $7.50 (however, if the Purchaser is a director of the Company, the ...

Expands reach of authID's next-gen biometric identity platform with integration to Syntrove's risk and fraud technology platform Denver, June 18, 2024 (GLOBE NEWSWIRE) -- authID Inc. (NASDAQ:AUID), a leading provider of innovative biometric identity verification and authentication solutions, and Syntrove, a leading consulting and professional services firm specializing in providing risk, data, delivery and technology expertise, today announced they have signed an OEM agreement that will integrate authID's b ...

DENVER, June 04, 2024 (GLOBE NEWSWIRE) -- authID (NASDAQ:AUID), a leading provider of innovative biometric identity verification and authentication solutions, today announced the Company's executive leadership team will participate in an investor-focused webinar with Deep Knowledge Investing (DKI) on Wednesday, June 5, 2024 at 12:00pm EDT. DKI Founder, Gary Brode, will moderate the conversation with authID CEO Rhon Daguro, CFO Ed Sellitto, CTO Thomas Szoke and Board Director Kunal Mehta on the company's go ...

DENVER, May 20, 2024 (GLOBE NEWSWIRE) -- authID® (NASDAQ:AUID) a leading provider of innovative biometric identity verification and authentication solutions, today announced that its 2024 Annual Meeting of Stockholders will be held virtually on June 26, at 10:00 a.m. EDT. At the meeting, proposals will be submitted to elect directors, ratify the appointment of auditors, reduce the number of authorized shares in order to save expenses, ratify the adoption of the 2024 Equity Incentive Plan and approve "Say-on ...

Company Announcements - The 2024 Annual Meeting of Stockholders will be held virtually on June 26, 2024, at 10:00 a m EDT [1] - Proposals include electing directors, ratifying auditors, reducing authorized shares to save expenses, adopting the 2024 Equity Incentive Plan, and approving "Say-on-Pay" resolutions [1] - The company proposes the election of all seven current directors [1] Meeting Logistics - The Proxy Statement has been filed with the SEC and materials are being mailed to stockholders [2] - Stockholders with brokerage accounts will receive materials via brokers, either by mail or electronically [2] - The meeting will be webcast, and investors must register in advance [2] - A short management presentation will follow the formal business of the meeting [2] Webcast Details - The webcast will use the Zoom Events platform, and participants are advised to pre-register with a validated email or existing Zoom account [3] - Registrants will receive a confirmation email and calendar notice [3] - Attendees can ask questions through the Q&A option in the Zoom Meeting portal [3] - Stockholders can view materials electronically on the company's Investor Relations site or at www investorvote com/AUID [3] - Electronic voting is available, and stockholders are encouraged to vote by proxy ahead of the meeting [3] Company Overview - authID provides biometric identity verification and authentication solutions for enterprises [4] - The company's platform verifies user identity in 700ms, combining digital onboarding, FIDO2 login, and biometric authentication [4] - authID aims to prevent cybercriminals from taking over accounts and eliminate password risks and costs [4] - The platform delivers a fast, accurate, and user-friendly identity experience for digital ecosystems [4]

authID Inc. (NASDAQ:AUID) Q1 2024 Earnings Conference Call May 15, 2024 5:30 PM ET Company Participants Graham Arad - General Counsel Ed Sellitto - Chief Financial Officer Rhon Daguro - Chief Executive Officer Tom Szoke - Chief Technology Officer Conference Call Participants George Sutton - Craig-Hallum Alan Sasserath - Sasserath & Co. Graham Arad Greetings, and good afternoon. This is Graham Arad, General Counsel of authID. Welcome to the authID First Quarter 2024 Results Conference Call. At this time, all ...

Exhibit 99.1 authID Inc. Reports Financial and Operating Results for the First Quarter Ended March 31, 2024 ● Achieves Milestone Revenue Growth for Q1 2024 With Live Production Status of Key Customers Signed in 2023 ● Management 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 end ...

Financial Performance - For the three months ended March 31, 2024, the Company earned revenue from continuing operations of approximately $157,000, a significant increase from approximately $38,000 in the same period of 2023, primarily due to new customer contracts signed in the second half of 2023 [87]. - The Company incurred a net loss of approximately $3.1 million for the three months ended March 31, 2024, compared to a loss of approximately $1.8 million for the same period in 2023 [81]. - Adjusted EBITDA for continuing operations was approximately $(2.39) million for the three months ended March 31, 2024, compared to approximately $(2.20) million for the same period in 2023 [86]. - Cash used in operating activities was approximately $2.9 million for the three months ended March 31, 2024, compared to $2.2 million for the same period in 2023 [93]. Expenses - General and administrative expenses increased by approximately $1.2 million during the three months ended March 31, 2024, due to a one-time event related to stock-based compensation reversals in Q1 2023 [88]. - Research and development expenses rose by approximately $1.1 million for the three months ended March 31, 2024, primarily due to the absence of a one-time stock-based compensation reversal from Q1 2023 [89]. - Interest expense, net decreased by approximately $0.8 million during the three-month period ended March 31, 2024, mainly due to the exchange of Convertible Notes for common stock in May 2023 [91]. Financial Position - The Company had an accumulated deficit of approximately $162.6 million as of March 31, 2024 [81]. - As of March 31, 2024, the Company has approximately $7.2 million in cash and $6.7 million in working capital [93]. - The Company has no off-balance sheet arrangements that could materially affect its financial condition [99]. Future Plans and Risks - The Company plans to grow its business by increasing service usage among existing customers and expanding into new markets, with expectations of continued revenue growth if successful [79]. - The Company is focused on raising additional funds in 2024 and 2025 to support operations and investments, with no guarantee that such financing will be available on acceptable terms [81]. - The Company will need to raise additional funds in 2024 and 2025 to support operations and investments, with no guarantee that financing will be available on acceptable terms [94]. - The ongoing war in Ukraine and the Middle East may disrupt operations and increase costs, impacting the market for the Company's products [95][97]. - Increased volatility in financial markets due to geopolitical tensions may affect the Company's stock price and ability to raise capital [98]. Other Information - The Company completed the sale of its legacy payments software for approximately $96,000 in June 2023, recognizing a gain of approximately $216,000 [92]. - Recent material accounting policies critical to understanding financial results are discussed in Note 1 of the unaudited financial statements [100].

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 ...