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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 (NASDAQ: AUID) has announced a registered direct offering of approximately 1,811,111 shares of common stock and/or Pre-Funded Warrants at $4.50 per share, expecting to raise gross proceeds of approximately $8.15 million. The offering is scheduled to close around April 1, 2025.
The company will establish an Advisory Board featuring Eric Swider, former CEO of Digital World Acquisition Corp, and Donald Nitti, Founder and CIO of Chroma Ventures. Dominari Securities and Madison Global Partners, served as Co-Placement Agents for the offering.
The net proceeds will be used for working capital and general corporate purposes. The offering is made pursuant to a shelf registration statement (Registration No. 333-283580) declared effective by the SEC on December 13, 2024.
authID (Nasdaq: AUID), a biometric verification and authentication solutions provider, has won the 'Best ID Management Platform' award at the 2025 FinTech Breakthrough Awards. This marks the company's third recognition in four years, having previously won in 2022 and 2023.
The company's platform features include sub-second fast authentication, advanced deepfake detection, and their innovative PrivacyKey™ solution, which maintains one-in-one-billion false-match accuracy and 25ms authentication speed while storing zero biometric data. The platform utilizes public/private key encryption and key-rotation capabilities to enhance security.
The award, presented by FinTech Breakthrough in their 9th annual ceremony, recognizes exceptional performance and innovation in the financial technology industry. Winners were selected by an independent panel of experts based on various criteria in financial services and technology.
authID (NASDAQ: AUID) reported its Q4 and FY2024 financial results, showing mixed performance. Q4 revenue increased to $0.20M from $0.07M YoY, while operating expenses rose to $4.9M from $3.3M. The company's Q4 loss widened to $4.6M ($0.49/share) from $3.2M ($0.41/share).
For FY2024, revenue grew to $0.89M from $0.19M, with Annual Recurring Revenue (ARR) reaching $0.80M. Operating expenses increased to $15.6M from $10.9M, while the yearly loss improved to $14.3M ($1.40/share) from $19.6M ($3.19/share).
Notable achievements include:
- Signing a $10M multi-year agreement with an AI company for biometric authentication in India
- Launch of PrivacyKey™ for enhanced biometric authentication privacy
- Gross Booked Annual Recurring Revenue (bARR) of $9.01M in 2024, up from $2.94M in 2023
- Remaining Performance Obligation (RPO) of $14.26M, compared to $4.03M YoY
authID (Nasdaq: AUID) has released a comprehensive whitepaper on combating deepfake fraud in digital authentication systems. The report, titled 'Deepfake Countermeasures,' highlights the company's proprietary multi-layered detection system, which achieves a billion-to-one false-match accuracy rate and a 35-millisecond matching speed.
The whitepaper reveals that manual document review identifies sophisticated deepfakes less than 1% of the time, while over 40% of financial sector fraud attempts are AI-driven. authID's platform features advanced liveness detection technology and builds upon their recent launch of PrivacyKey™, a biometric solution that ensures secure authentication without storing facial data.
The solution integrates with authID's Proof™ and Verified™ platforms, offering enterprises key-rotation capabilities for controlled access to sensitive data while maintaining regulatory compliance and user privacy.
authID (Nasdaq: AUID), a provider of biometric identity verification and authentication solutions, has scheduled its Fourth Quarter and Full Year 2024 financial results announcement for March 13, 2025, after market close.
CEO Rhon Daguro and CFO Ed Sellitto will host a webcast at 5:00 p.m. EDT to discuss the results and provide a corporate update. Participants are encouraged to join 15 minutes before the start time. The presentation will be available for replay for 90 days on the company's investor relations website.
authID (Nasdaq: AUID) has been featured in a new Prism Project report by Acuity Market Intelligence, highlighting its leadership in biometric identity verification and authentication solutions. The report names authID as a 'luminary' for its platform, which achieves a one-in-one-billion false-match accuracy rate while maintaining zero-knowledge architecture for data protection.
The company's newly launched PrivacyKey™ technology, along with solutions Proof™ and Verified™, represents a significant advancement in balancing security and privacy. The Prism Project forecasts 300% growth in demand for privacy-focused biometric solutions over the next three years.
The report emphasizes authID's recent partnership with Salus to enhance credit union services for 120 million underserved individuals. The company has also secured partnerships with financial institutions, technology companies, and firms in staffing, philanthropy, and customer service sectors.
authID (Nasdaq: AUID), a biometric identity verification provider, has been selected by Salus, a microlending platform, to handle onboarding and authentication for their financial services targeting underprivileged communities. Salus, launched in 2023, partners with credit unions to provide credit access to over 120 million young, under-served adults without prime credit scores.
The partnership aims to deliver fast, accurate verification while protecting user privacy and maintaining regulatory compliance. Salus chose authID after evaluating various vendors, finding their biometric solutions superior to previous probabilistic fraud detection systems. The platform will help credit unions build trust with members and expand financial access to individuals typically excluded from traditional banking services.
authID (Nasdaq: AUID) has announced the granting of stock options as inducement awards to two new employees. The first employee received options to purchase 20,000 shares at an exercise price of $5.99 per share, while the second employee received options to purchase 30,000 shares at $5.89 per share. These options will vest monthly over three years in 36 equal installments, contingent on continued employment, and have a 10-year term. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).
authID (Nasdaq: AUID) has launched PrivacyKey™, a groundbreaking solution for its biometric identity authentication platform that eliminates biometric data storage risks and compliance issues. The technology enhances authID's Proof™ and Verified™ solutions by implementing a key-pair system that processes facial biometrics without storing actual biometric data.
The new system, available in Version 4.0, creates public and private key pairs during identity proofing, immediately destroying the private key and storing only the public key. During authentication, the private key is recreated and matched with the public key through an encrypted message. The platform maintains high performance with 700ms processing speeds and one-in-one billion false-match accuracy.
PrivacyKey™ also features advanced key-management capabilities, allowing enterprises to rotate and revoke keys while ensuring authorized-only access. This innovation addresses growing concerns about biometric data security and compliance with increasing regulatory requirements across different jurisdictions.
authID (Nasdaq: AUID) has been recognized as an Identity Proofing and Verification Luminary in The Prism Project's 2024 Biometric Digital Identity Flagship Report. The report, published by Acuity Market Intelligence, evaluated over 130 vendors in the global digital identity ecosystem.
The report highlights authID's key differentiators, including their proven team of identity-industry veterans, successful customer implementations with organizations like the American Board of Radiologists and ABM, and technical capabilities featuring one-in-one-billion false-match accuracy and 700ms-verification speeds.
According to The Prism Project, the global biometric digital identity industry is projected to generate over $315 billion in aggregate revenue, with biometric transactions expected to reach 5.6 trillion from 2024 through 2028. The report emphasizes biometrics' important role in reducing fraud, improving operational efficiency, preserving privacy, and enhancing user experience in digital transformation.