Financial Data and Key Metrics Changes - The company's first quarter revenues increased by 5% year-over-year, reaching a record of $4,894,000 compared to $4,680,000 in the same period of 2024 [25] - Adjusted EBITDA improved by $100,000 year-over-year, resulting in a small loss of $17,000 for the quarter [25] - SaaS revenue grew by 6% to $4,868,000, representing over 99% of total revenue for the quarter [25] - Gross profit margin was 89.7%, with an adjusted gross margin of 91.8%, up from 91.2% in Q1 2024 [26][27] Business Line Data and Key Metrics Changes - Revenue from title insurance increased by approximately 350% in Q1 2025, indicating strong growth in this vertical [35] - Retail banking revenue rose by about 50% compared to Q1 2024, showcasing significant expansion in this area [36] - Retail revenue declined by 26% year-over-year, reflecting challenges in the retail sector [40] Market Data and Key Metrics Changes - The company has diversified its client base beyond retail credit cards, now seeing growth in sectors such as retail banking, title insurance, and logistics [9][22] - The logistics and shipping market is identified as a significant opportunity due to high levels of theft and fraud [9][62] Company Strategy and Development Direction - The company is focused on diversifying its market presence and reducing reliance on retail, which has been a drag on growth [22][41] - A strategic initiative includes migrating clients from Azure to AWS, expected to enhance operational efficiency and reduce costs [8][28] - The appointment of a new senior vice president of sales is anticipated to drive revenue growth and improve client relationships [11][105] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence is down nearly 8% year-over-year, impacting retail purchases [22] - The company expects to continue seeing positive cash flow and growth in revenue throughout 2025 [30] - Management expressed optimism about the future, highlighting the importance of new partnerships and marketing efforts [105] Other Important Information - The company has a $2,000,000 revolving credit line with Citibank, which was not utilized during 2025 [30] - Marketing changes have led to increased engagement, with LinkedIn followers up 16% and website visitors up 34% [18] Q&A Session Summary Question: What is the company's penetration in the title market? - Management indicated that they have exposure to about 40% of the title market, with revenue from title insurance up 350% in Q1 [34][35] Question: What are the next largest verticals after retail? - The next largest verticals are banking and auto, with retail banking revenue up 50% year-over-year [36] Question: What percentage of revenue does retail represent now? - Retail revenue is down 26% year-over-year, and it is now roughly equal to retail banking in terms of revenue contribution [40][50] Question: What drove the increase in deferred revenue and SaaS RPOs? - The increase was attributed to moving customers to a pricing model that encourages upfront payments [52][53] Question: Any updates on the large social media customer and regional bank? - Management confirmed ongoing discussions with both, with procurement processes underway for the regional bank [56][57] Question: How is the company addressing the shipping and logistics market? - The company is addressing fraud in logistics by verifying truckers' identities, which is a significant concern in the industry [62] Question: What is the status of the reseller strategy? - The reseller strategy is still developing, with ongoing efforts to engage more resellers, particularly in banking [66][68] Question: What is the current state of accounts receivable? - The increase in accounts receivable is primarily due to changes in the pricing model, moving away from billing in arrears [69] Question: What are the leading indicators for future growth? - Management highlighted a robust pipeline of committed customers and contracts as indicators of future growth [74][75]

Financial Data and Key Metrics Changes - The company's first quarter revenues increased by 5% year-over-year, reaching a record of $4,894,000 compared to $4,680,000 in the same period of 2024 [22] - SaaS revenue grew by 6% to $4,868,000, representing over 99% of total revenue for the quarter [22] - Adjusted EBITDA improved by $100,000, resulting in a small loss of $17,000 for the quarter, indicating a near breakeven performance [22] - Gross profit margin was 89.7%, slightly down from 90.7% in the previous year, while adjusted gross margin improved to 91.8% from 91.2% [23][24] - Operating expenses decreased by 1% to $4,740,000, with a notable reduction in selling, general, and administrative expenses [25] Business Line Data and Key Metrics Changes - The company has diversified its client base beyond retail credit cards, now seeing significant growth in retail banking, title insurance, auto, email account security, and background checks [6][7] - Revenue from title insurance increased by approximately 350% in Q1, indicating strong market penetration [32] - Retail banking revenue grew by 50% year-over-year, showcasing the effectiveness of the company's diversification strategy [33] Market Data and Key Metrics Changes - The company reported a 26% decline in revenue from retail, reflecting challenges in the retail sector [36] - Despite the retail decline, the overall revenue growth was driven by gains in other sectors, demonstrating the success of the diversification strategy [39] Company Strategy and Development Direction - The company is focused on a diversification strategy, moving away from a retail-first emphasis to capture opportunities in various sectors [20] - The migration from Azure to AWS is expected to yield cloud savings and improve client onboarding processes [6][15] - The appointment of a new senior vice president of sales is anticipated to drive revenue growth and enhance client relationships [10][90] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer confidence is down nearly 8% from the previous year, impacting retail purchases [20] - The company remains optimistic about future growth, driven by strategic initiatives and a revitalized sales team [90] - Management emphasized the importance of adapting to market changes and economic conditions as they evolve [21] Other Important Information - The company had cash and cash equivalents of $5,100,000 at the end of Q1, exceeding consensus estimates [26] - The company has a $2,000,000 revolving credit line with Citibank, which was not utilized during 2025 [28] Q&A Session Summary Question: What is the company's penetration in the title insurance market? - The company estimates it has exposure to about 40% of the title insurance market, with revenue from title insurance up 350% in Q1 [31][32] Question: What are the next largest verticals after credit cards? - The next largest verticals are banking and auto, with retail banking revenue up 50% year-over-year [33] Question: What percentage of revenue does retail represent now? - Retail revenue was down 26% year-over-year, indicating a declining percentage of total revenue [36] Question: What drove the increase in deferred revenue and SaaS RPOs? - The increase was largely due to moving customers to a pricing model that encourages upfront payments [45] Question: Any updates on the large social media customer and regional bank? - The social media customer is progressing well, while the regional bank is in procurement discussions [48][49] Question: How is the company addressing the shipping and logistics market? - The company is addressing fraud in shipping and logistics, with significant losses reported per truck due to organized crime [52][53] Question: What is the status of the reseller strategy? - The company sees plenty of room for improvement in its reseller strategy and is actively engaging with potential partners [55] Question: What is the current state of accounts receivable? - The increase in accounts receivable is primarily due to changes in the pricing model, moving towards prepayment [58]

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]

Financial Data and Key Metrics Changes - The company ended the quarter with 31.2 million total members, up 42.3% year over year, indicating strong growth in the ClearONE platform [16] - Total bookings reached $207 million, representing a growth of 14.8% year over year, while free cash flow was $91 million, reflecting a 17.6% increase [17][20] - Active Clear plus members grew to 7.4 million, marking a 9.1% increase [17] - Gross dollar retention was 87.1%, down 140 basis points sequentially due to significant price increases implemented in 2023 and 2024 [17][18] Business Line Data and Key Metrics Changes - The travel business continued to show strong growth, with Clear active in 59 Clear plus airports and four domestic Clear mobile airports, reaching 74% of U.S. airline passengers [5][6] - The TSA PreCheck enrollment program is expanding, with 165 locations now operational, contributing to increased market share [18][19] Market Data and Key Metrics Changes - U.S. air travel demand increased, with TSA checkpoint volumes growing almost 1% [6] - The company is actively addressing the challenges faced by air travelers, with 64% citing long lines at security as a major pain point [7] Company Strategy and Development Direction - The company is focused on enhancing member experience through new products like NV Pods, ePassport, and eGates, which aim to create a seamless travel experience [8][10][11] - Clear is positioning itself to capitalize on major global events like the World Cup in 2026 and the Olympics in 2028, offering automated lanes at no cost to the government [12] - The company is also expanding its ClearONE platform to enhance security and trust across various sectors, including healthcare and finance [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's resilience despite macroeconomic uncertainties, noting that gross adds and conversion rates remain healthy [25][30] - The company is optimistic about future growth opportunities, particularly in expanding the Clear network and enhancing the B2B business [64] Other Important Information - The company ended the quarter with $533 million in cash and marketable securities, having returned $168 million to shareholders through share repurchases and dividends [21][39] - The company is reaffirming its free cash flow guidance of at least $310 million for the full year 2025 [21] Q&A Session Summary Question: What macro factors are being considered for bookings guidance? - Management noted that gross adds and conversion rates remain healthy, and they are not seeing softness in the business due to broader macro sentiment [25][30] Question: What is happening with family member retention after price increases? - Management indicated that overall member retention trends remain consistent, with net adds improving compared to the previous year [31][32] Question: How will the company express flexibility around long-term investments in a downturn? - Management emphasized the importance of automation and operating leverage, which are expected to drive efficiencies and support growth [34][38] Question: How does the company view pricing as a lever moving forward? - Management stated that pricing remains a key lever to drive bookings and revenue, with opportunities to refine the strategy using a data-driven approach [41][42] Question: What opportunities exist for growth outside the U.S.? - Management highlighted the potential for international travelers to utilize the ePassport product, expanding the total addressable market significantly [46][48] Question: What progress is being made in the B2B business? - Management discussed growth in healthcare partnerships and the importance of platform integration for both workforce and patient solutions [54][56]

Core Insights - Clear Secure, Inc. has released its first quarter financial results for 2025 in a shareholder letter available on its Investor Relations website [1] - The company will host a conference call to discuss these results, providing access for both U.S. and international participants [2] - CLEAR's mission focuses on enhancing security while providing seamless experiences for its members, with over 31 million members and a growing global partner network [3] Financial Results - The financial results for the first quarter of 2025 are detailed in the shareholder letter, which is accessible online [1] - A conference call is scheduled to elaborate on these results, indicating the company's commitment to transparency with investors [2] Company Overview - CLEAR aims to transform everyday experiences by connecting members to secure and frictionless services, applicable in various settings such as travel and events [3] - The company emphasizes privacy, ensuring that members retain control over their personal information and that their data is not sold [3]

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 Insights - Interactive Data, LLC (IDI) has announced a strategic integration with Ping Identity to enhance identity verification and risk mitigation services using PingOne DaVinci, a no-code identity orchestration service [1][5] - This partnership aims to improve access to IDI's AI/ML-powered technology platform and comprehensive identity graph, facilitating identity verification, risk management, and fraud prevention while enhancing consumer experience [1][5] Company Overview - IDI specializes in identity intelligence solutions, focusing on identity verification, risk mitigation, fraud detection, and regulatory compliance, catering to organizations of all sizes [6] - The company's coreIDENTITY™ DaVinci connector provides a suite of identity solutions for the entire consumer lifecycle, including identity data verification, data refresh, application pre-fill, fraud detection, and KYC compliance [3][4] Partnership Details - The collaboration with Ping Identity is part of the Ping Identity Global Technology Partner Program, which aims to deliver improved customer experiences through easy integration and design of digital user journeys [2] - Both companies emphasize the importance of innovation and seamless integration of identity insights into business workflows to empower organizations in making informed decisions [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]

Group 1 - Clear Secure, Inc. will report its financial results for Q1 2025 on May 8, 2025, at 6:00 a.m. ET [1] - A live webcast and teleconference will be held at 8:00 a.m. ET to discuss the results [1][2] - Investors can access the teleconference via specific toll-free numbers for U.S. and international participants [2] Group 2 - CLEAR's mission focuses on enhancing security and providing frictionless experiences for its over 30 million members [3] - The company is expanding its network of partners globally, aiming to transform everyday experiences in travel, work, and leisure [3] - CLEAR emphasizes privacy, ensuring that members control their own information and that their data is not sold [3]

Financial Data and Key Metrics Changes - Fourth quarter revenues increased by 15% year-over-year, reaching a record $5,936,000 compared to $5,176,000 in Q4 2023 [31][32] - SaaS revenues for Q4 grew 17% quarter-over-quarter, totaling $5,900,000, while full-year SaaS revenues increased by 7% to $19,800,000 [9][36] - Adjusted EBITDA for the full year improved to a positive $520,000 compared to $377,000 in 2023 [39][42] - Gross profit margin for Q4 was 91%, down from 95% in the same period of 2023, primarily due to increased R&D costs [34][37] Business Line Data and Key Metrics Changes - Significant growth was observed in new verticals, with automotive, title insurance, email, social media, and retail banking verticals growing by 13%, 2,500%, 54%, and 17% respectively [10] - The title insurance vertical is particularly strong, with direct title clients accounting for approximately 45% of the market [11] - The company faced headwinds from retail bankruptcies and customer churn, particularly in bars, restaurants, and hardware-focused manufacturers [12] Market Data and Key Metrics Changes - Retail still represents approximately 75% of the company's scan volume, but transaction volumes from major retailers were down about 45% from Q4 2023 [29][55] - The company is diversifying away from retail, which is crucial given the current economic climate affecting consumer spending [29][51] Company Strategy and Development Direction - The company is focused on vertical channel diversification and enhancing ID validation services [6][7] - Investments in IT initiatives and customer success leadership are aimed at improving customer experience and marketing capabilities [7][21] - The migration from Azure to AWS is expected to yield cost savings and improve implementation speed [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth in the back half of 2025, driven by rollout schedules and proof of concepts [45][46] - Concerns about consumer confidence and macroeconomic factors are acknowledged, but the company remains focused on fraud prevention as a consistent need across industries [49][50] - The company anticipates a cautious outlook for Q1 2025, aligning with sell-side consensus estimates of $4,780,000 [28][39] Other Important Information - The company has a $2,000,000 revolving credit facility with Citibank, which was not utilized during 2024 [40] - The company expects to finish Q1 2025 with a cash balance of approximately $5,000,000, indicating strong cash generation capabilities [39] Q&A Session Summary Question: Visibility on stronger back half of the year - Management indicated that visibility is based on rollout schedules and proof of concepts, with delays potentially leading to easier implementations in the future [45][46] Question: Disruption in sales conversations due to macro conditions - No significant disruption was noted in sales conversations, as fraud remains a consistent issue across industries [49][50] Question: Potential operating expense savings from switching to AWS - Management expects significant savings from the AWS transition, with ongoing negotiations for better rates from cloud providers [52] Question: Clarification on Q4 revenue strength and Q1 expectations - The strength in Q4 was attributed to non-retail improvements, while Q1 is expected to see a drop due to worsening retail conditions [55][58] Question: Update on large social media customer - The company is finalizing procurement discussions and expects updates soon [60][61] Question: Expectations for EBITDA improvement in 2025 - Management anticipates continued improvement in EBITDA for 2025, with a focus on maintaining positive growth [62]