AUTHID INC Stock Price, News & Analysis

authID (Nasdaq: AUID) has announced the integration of Verified CloudConnect with Okta’s Workforce Identity Cloud, enhancing their Human Factor Authentication™ (HFA). This collaboration aims to eliminate the need for passwords and mitigate risks related to phishing and credential compromise. By combining strong passwordless authentication with biometric verification, authID enhances security for both workforce and customer applications. The integration supports seamless user experiences while accelerating the move to zero trust security within organizations.

authID (Nasdaq: AUID) has partnered with Tax Status, a provider of IRS account monitoring, to enhance security for its enterprise partners. By implementing authID's Human Factor Authentication (HFA), Tax Status aims to protect sensitive tax data and streamline account onboarding. HFA integrates FIDO2 passwordless authentication and biometrics to prevent identity fraud. This collaboration supports compliance with IRS identity authentication mandates while ensuring a user-friendly experience. CEO Tom Thimot emphasized the importance of ethical data security in combating cybercrime.

authID Inc. (Nasdaq: AUID) reported third-quarter and nine-month financial results for 2022, with total revenue of $0.03 million for Q3, down from $0.2 million year-over-year. The company incurred a net loss of $6.3 million for Q3, worsening from $5.2 million in 2021. Despite macroeconomic challenges affecting revenues, authID launched Verified 3.0, a platform enhancing secure identity authentication through Human Factor Authentication™. The company expects to reach positive cash flow by late 2024, supported by a strong sales pipeline and sufficient cash reserves.

authID Inc. (Nasdaq: AUID) will report its third-quarter financial results for the period ending September 30, 2022, on November 10, 2022, after market close. Following the announcement, a conference call and webcast will be held at 5:30 p.m. EST, featuring insights from CEO Tom Thimot and CFO Annie Pham. Investors can access the webcast via a provided link and register for questions during the live call. A replay will be available for 90 days on the company’s Investor Relations website.

authID (Nasdaq: AUID) has launched Verified 3.0, a next-gen platform utilizing Human Factor Authentication (HFA) to enhance security against cyber threats. This system combines strong FIDO2 passwordless authentication with biometric verification, addressing flaws in legacy multi-factor authentication (MFA) systems. With 82% of data breaches exploiting human error, Verified 3.0 aims to protect organizations by eliminating password reliance and enabling quick biometric checks through a simple selfie. The platform supports seamless integration with identity management systems, enhancing user experience and security for enterprises globally.

authID (Nasdaq: AUID), a leader in mobile biometric identity authentication, held its Annual Meeting of Shareholders on September 20, 2022. During the meeting, all nominated directors were re-elected, and all proposed resolutions were adopted. CEO Tom Thimot provided an update on the company's recent activities after the meeting. authID specializes in secure identity verification solutions through its Verified™ platform, utilizing facial matching technology to enhance security and trust between businesses and customers.

authID (Nasdaq: AUID) announced a partnership with Kompliant to integrate its Verified™ biometric authentication platform, enhancing identity fraud prevention and digital onboarding. This collaboration aims to streamline merchant application processing and compliance for financial institutions amid rising cybersecurity threats. Kompliant recently secured $14 million in funding to accelerate growth, while authID's solutions provide rapid identity verification through mobile technology, ensuring secure transactions and a seamless user experience.

authID Inc. (Nasdaq: AUID) announced its 2022 Annual Meeting of Stockholders will occur virtually on September 20, 2022, at 10:00 a.m. EDT. Key proposals at the meeting include the election of the current eight directors, the ratification of auditors, and a proposal to reduce authorized shares to save costs. The Proxy Statement has been filed with the SEC, and stockholders will receive meeting materials via brokers. Attendees can submit questions during the webcast and are encouraged to vote by proxy to ensure their votes are counted.