AUTHID INC Stock Price, News & Analysis

authID (Nasdaq: AUID) reported financial results for Q2 2024, showing significant year-over-year growth. Total revenue increased to $0.28 million, up from $0.04 million in Q2 2023. The company's Remaining Performance Obligation (RPO) grew to $4.24 million, compared to $0.40 million a year ago. Despite progress, authID still reported a net loss of $3.3 million, or $0.34 per share, an improvement from the $10.9 million loss in Q2 2023.

authID highlighted recent partnerships with DataVisor, FinClusive, and Syntrove, expanding its market reach in cybersecurity and identity verification. The company also completed an $11 million direct offering, netting approximately $10 million. authID confirmed its 2024 revenue guidance of $1.4 million to $1.6 million, building on the $0.4 million YTD revenue.

authID Inc. (Nasdaq: AUID) has partnered with DataVisor, a leading AI-powered fraud and risk prevention platform, through a global OEM agreement. This collaboration aims to integrate authID's advanced biometric identity solutions into DataVisor's platform, enhancing defenses against identity fraud and AI-driven deepfakes for global financial services and large enterprise customers.

Key highlights of the partnership include:

• Integration of authID's biometric services to combat fraud and deepfakes
• Streamlined account onboarding and enhanced security against account takeovers
• authID's 700 milliseconds biometric processing speed
• Automated identity verification for over 14,000 government-issued ID documents
• Presentation Attack Detection (PAD) Level 2 accuracy to thwart deepfakes and other attacks

This partnership is expected to accelerate customer enrollment, reduce abandonment, and enhance revenue for DataVisor's enterprise customers while providing robust security measures.

authID Inc. (Nasdaq: AUID) and Kaiasoft.com have partnered to enhance SaaS applications with biometric identity assurance. This collaboration aims to combat AI-driven cyberattacks and deepfakes for Kaiasoft.com's clients across America and Europe. Key points include:

1. Kaiasoft.com will resell and integrate authID's biometric solutions.
2. authID's platform offers document-based identity verification and facial biometric matching.
3. The partnership targets improved security, user experience, and reduced support costs.
4. authID's solution processes images and identifies users within 700 milliseconds.
5. A cannabis ecommerce platform is their first joint customer.

This partnership addresses the growing threat of sophisticated fraud in digital enterprises, particularly in ecommerce and healthcare sectors.

authID Inc. (Nasdaq: AUID), a provider of secure identity verification and authentication solutions, has announced it will report its Q2 2024 financial results on August 8, 2024, after market close. Following the earnings release, CEO Rhon Daguro and CFO Ed Sellitto will host a webcast at 5:30 p.m. EDT to discuss the results and provide a corporate update.

Investors can register for the webcast through the provided link. The event will use the Zoom Events platform, and participants are advised to pre-register with a validated email address or existing Zoom account. Attendees will have the opportunity to ask questions live or through the Q&A option. A replay of the event and a copy of the presentation will be available for 90 days on authID's Investor Relations Events page.

authID Inc. [Nasdaq: AUID] and FinClusive Capital, Inc. have announced a partnership to integrate authID's biometric services into FinClusive's Compliance-as-a-Service (CaaS) platform. This collaboration aims to combat financial crimes, identity fraud, and deepfakes while providing a seamless user identity experience.

Key points:

• authID's automated identity document authentication covers over 13,000 U.S. and international government-issued ID documents
• The integration streamlines digital onboarding and ongoing authentication for FinClusive's global customer base
• The combined solution offers dynamic risk scoring, monitoring, and advanced deepfake detection
• authID's platform ensures 'Knows Who's Behind the Device™' with speed, accuracy, and precision
• The partnership supports FinClusive's mission of global financial inclusion with secure and accessible identity assurance

authID announced the closing of an $11,000,000 registered direct offering on June 27, 2024. The company sold 1,464,965 shares of its common stock at $7.50 per share, with directors purchasing at $8.16 per share. Madison Global Partners acted as the sole placement agent. The proceeds will be used to expand sales, operations, and the customer success team to accommodate growth. CEO Rhon Daguro highlighted the company's 10x market cap increase and 12x sales bookings growth over the past year. The offering was made under a shelf registration statement declared effective by the SEC in November 2021.

authID.ai [Nasdaq: AUID], a provider of biometric identity verification and authentication solutions, held its 2024 Annual Shareholder Meeting via webcast on June 26, 2024. During the meeting, all nominated directors were re-elected, and all proposed resolutions were adopted. CEO Rhon Daguro updated shareholders on the company's activities following the meeting adjournment.

authID announced a definitive agreement to sell 1,464,965 shares of its common stock in a registered direct offering, expected to generate $11 million in gross proceeds. The shares are priced at $7.50 each, except for company directors, who will pay $8.16 per share. Closing is anticipated around June 27, 2024, pending customary conditions. Madison Global Partners is the sole placement agent. The funds will support authID's expansion in sales, operations, and customer support to handle new clients. The shares are offered per a shelf registration statement effective November 10, 2021.

authID has partnered with Syntrove to integrate its biometric identity verification and authentication solutions into Syntrove's risk and fraud technology platform. This collaboration aims to combat AI-driven fraud, deepfakes, and cyberattacks by providing a robust identity assurance system. Syntrove will distribute authID's technology to its enterprise clients in banking, insurance, gaming, crypto, and supply chains. The joint effort promises to offer the fastest biometric processing on the market, enhancing security and user experience. AuthID's solutions will help enterprises secure digital interactions and reduce risks associated with cyber threats.