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authID Inc. reports developments in biometric identity verification and authentication for enterprise logins, transactions, onboarding, account recovery, and passwordless access. Its platform includes PrivacyKey, Identity Verification, Biometric Authentication, IDX for distributed workforces, and authID Mandate for Agentic AI governance, with product updates tied to privacy-preserving biometrics, quantum-resistant authentication, digital identity credentials, and fraud prevention.
Company updates also cover financial results, corporate updates, strategic reseller and OEM partnerships, integrations with Microsoft-oriented identity environments, workforce and customer access use cases, and applications in financial crime intelligence. Recurring announcements connect authID's biometric root-of-trust approach with account-takeover prevention, deepfake detection, Zero Trust security architectures, and enterprise identity assurance.
authID.ai (Nasdaq: AUID) reported financial results for Q1 2022, achieving total revenue of $0.6 million, unchanged from Q1 2021. However, net loss increased to $5.3 million, compared to $2.5 million a year prior, with a net loss per share of $0.22. The company secured $22.5 million in financing to support growth initiatives. Key accomplishments included new customer agreements, integration with Microsoft, and recognition as the 'Best ID Management Platform' by the FinTech Breakthrough Awards. The company aims for positive cash flow by 2024.
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authID.ai (Nasdaq: AUID) announces the appointment of Annie Pham as Chief Financial Officer effective June, following Stuart Stoller's retirement after serving since 2017. During his tenure, Stoller significantly contributed to the company’s growth and its Nasdaq uplisting in 2021, alongside a funding raise of over $22 million. Pham, with over 20 years of finance experience, comes from SonicWall, where she led a team of over 30 professionals. She aims to execute the company's growth strategy and enhance financial management, driving value for customers and shareholders.
authID.ai (Nasdaq: AUID) will report its financial results for the first quarter ending March 31, 2022, on May 9, 2022, after market close. Following this, CEO Tom Thimot and CFO Stu Stoller will host a conference call at 5:30 p.m. EDT to discuss the results and provide updates. Investors can access the call via a dedicated link or by dialing in, and a replay will be available until May 16. The company specializes in biometric identity authentication solutions, aiming to enhance security and privacy for users.
authID.ai (Nasdaq: AUID) has appointed Joe Trelin to its Board of Directors, significantly enhancing its leadership with his extensive experience from CLEAR and NBC Universal. Trelin's expertise in technology product management and identity service innovation comes at a critical growth phase for the company, especially following their recent funding of over $22 million. His background in developing identity platforms across various sectors positions authID to innovate in the biometric authentication market, aiming to combat digital fraud effectively.
authID.ai has successfully completed a financing round of $22.5 million, which will support operations through 2023. For the year ended December 31, 2021, the company reported total revenue of $2.3 million, up from $2.1 million in 2020, but suffered a net loss of $17.7 million, compared to $11.3 million in the prior year. The adjusted EBITDA loss increased to $8.96 million. The company aims to strengthen its position in the identity authentication market by enhancing its Verified Identity as a Service (IDaaS) platform and leveraging strategic partnerships.
authID.ai (Nasdaq: AUID) has successfully closed financing totaling approximately $22.5 million, which is expected to cover working capital needs through 2023. The financing includes:
- $9.2 million through senior secured convertible promissory notes at a conversion price of $3.70.
- $3 million from the sale of common stock at $3.03 per share and $300,000 from management shares at $3.70.
- $10 million borrowing capacity under a credit facility.
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authID.ai (Nasdaq: AUID) will report its financial results for the fiscal year ended December 31, 2021, on March 21, 2022, before the market opens, a day earlier than previously scheduled. Following the release, CEO Tom Thimot, President & CTO Tripp Smith, and CFO Stu Stoller will host a conference call and webcast at 8:30 a.m. EDT to discuss the results and recent developments. Investors can access the presentation and call via the company's Investor Relations website. For participation, dial-in numbers are provided for toll-free and international callers.
authID.ai (Nasdaq: AUID) will report its financial results for the fiscal year ended December 31, 2021, on March 22, 2022, after market close. The conference call, hosted by CEO Tom Thimot and other executives, will begin at 5:00 p.m. EDT. Investors can join via phone or webcast. This event follows the company’s strategic focus on secure, mobile biometric identity verification solutions, enhancing customer trust and security through innovative technology.