authID (US:AUID)2025-11-12 21:31Financial Performance - Gross revenue for Q3 2025 was $0.6 million, up from $0.2 million in Q3 2024, while net revenue was negative $(0.1) million compared to $0.2 million a year ago[4] - Net loss for Q3 2025 was $5.2 million, or $0.38 per share, compared to a loss of $3.4 million, or $0.31 per share in Q3 2024[9][10] - Adjusted EBITDA loss for Q3 2025 was $4.1 million, compared to a loss of $2.9 million in Q3 2024, driven by increased investments in sales and R&D[11] - Revenues for the three months ended September 30, 2025, were $596,337, compared to $248,920 for the same period in 2024, representing a significant increase[31] - Net loss for the nine months ended September 30, 2025, was $(13,897,567), compared to $(9,683,619) for the same period in 2024, indicating a worsening financial position[35] - The company reported a basic and diluted net loss per share of $(0.38) for the three months ended September 30, 2025, compared to $(0.31) for the same period in 2024[31] Operating Expenses - Operating expenses increased to $5.1 million in Q3 2025 from $3.8 million in Q3 2024, primarily due to increased headcount and investments in sales and R&D[7] - Total operating expenses for the three months ended September 30, 2025, were $5,126,873, up from $3,762,317 in the same period of 2024, reflecting increased costs[31] - Research and development expenses for the three months ended September 30, 2025, were $1,785,387, compared to $1,615,970 in the same period of 2024, indicating ongoing investment in innovation[31] Revenue Metrics - Booked Annual Recurring Revenue (bARR) for Q3 2025 was $0.2 million, down from $1.2 million a year ago, with a net bARR of negative $6.8 million[13][14] - Annual Recurring Revenue (ARR) as of September 30, 2025, was $1.7 million, compared to $1.0 million as of Q3 2024[14] - Remaining Performance Obligation (RPO) as of September 30, 2025, was $3.6 million, down from $3.8 million a year ago[12] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were $4,899,658, down from $8,471,561 at the beginning of the period, showing a decrease in liquidity[35] - The company generated net cash flows from financing activities of $8,219,327 for the nine months ended September 30, 2025, compared to $10,041,399 for the same period in 2024, indicating reliance on external financing[35] Assets and Liabilities - Total assets decreased from $14,471,377 as of December 31, 2024, to $10,729,416 as of September 30, 2025, reflecting a decline in overall company value[33] - The company had total current liabilities of $1,816,010 as of September 30, 2025, down from $2,956,188 at the end of 2024, indicating improved short-term financial health[33] - Stockholders' equity decreased from $11,515,189 as of December 31, 2024, to $8,913,406 as of September 30, 2025, showing a reduction in net worth[33] Market Developments - Signed a full production agreement with a top 20 global retailer for identity verification solutions, indicating strong market validation[8] - Launched Identity Exchange (IDX) in collaboration with NESIC, enhancing enterprise scalability and identity assurance, significantly expanding the total addressable market[8] - Entered into multiple agreements to integrate authID's technologies into various platforms, including a digital infrastructure platform for financial institutions and MajorKey Technologies for Microsoft customers[8]