Core Insights - authID has reported financial and operational results for Q3 2025, highlighting a transformational year with a focus on large enterprise accounts and partnerships with respected companies in various sectors [3][5][7]. Financial Summary - Gross revenue for Q3 2025 was $0.6 million, up from $0.2 million in Q3 2024. However, net revenue was negative $(0.1) million after accounting for one-time concessions, compared to $0.2 million a year ago [5][7]. - 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 [8]. - The 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 the previous year [9][10]. - Adjusted EBITDA loss was $4.1 million for Q3 2025, compared to a loss of $2.9 million in Q3 2024 [11]. Business Highlights - The company signed a full production agreement with a top 20 global retailer in Europe to secure its identity verification and password reset system, indicating strong validation of authID's technology [6]. - Launched Identity Exchange (IDX™) in collaboration with NESIC, enhancing accountability and trust in the use of Agentic AI technology within enterprise networks [6]. - Entered into agreements with MajorKey Technologies and an international bank to integrate authID's identity verification and authentication solutions, expanding its market reach [6][15]. Annual Recurring Revenue (ARR) Metrics - The gross 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]. - The Annual Recurring Revenue (ARR) as of September 30, 2025, was $1.7 million, compared to $1.0 million in Q3 2024 [14]. Remaining Performance Obligation (RPO) - The Remaining Performance Obligation (RPO) as of September 30, 2025, was $3.6 million, slightly down from $3.8 million a year ago, with expectations to recognize the full amount over the life of the contracts [12].