Welcome to our dedicated page for authID news (Ticker: AUID), a resource for investors and traders seeking the latest updates and insights on authID stock.
authID Inc. (Nasdaq: AUID) is a prominent provider of biometric identity verification and authentication solutions, committed to ensuring that cyber-savvy enterprises “Know Who’s Behind the Device” for every customer or employee login and transaction. The company’s easy-to-integrate, patented biometric identity platform quickly and accurately verifies user identities, thereby eliminating any assumptions about the person behind a device and preventing cybercriminals from taking over accounts.
authID combines digital onboarding, FIDO2 login, biometric authentication, and account recovery to provide a fast, accurate, and user-friendly identity verification experience. The company’s platform delivers identity verification in just 700 milliseconds, establishing a biometric root of trust for each user that is bound to their accounts and provisioned devices. This approach stops fraud at onboarding, eliminates password risks and costs, and provides a faster, frictionless, and more accurate user identity experience demanded by operators of today’s digital ecosystems.
Headquartered in Denver, authID’s footprint spans North America, and its services cater to various industries including financial services, healthcare, gaming, and e-commerce. The company has recently achieved significant milestones, such as appointing new talent to key positions and expanding its sales, customer success, and engineering teams. authID is also exploring strategic partnerships, such as with Verified Inc. and IDMWORKS, to enhance its market reach and offer innovative identity verification solutions.
In terms of financial performance, authID has shown strong momentum with a significant increase in sales and revenue. For instance, the company reported a 1200% increase in sales in 2023 and has set ambitious targets for 2024. This growth is supported by a strong sales pipeline and an expanding list of enterprise customers. authID’s recent initiatives include launching new products and expanding its customer base through direct sales and channel partnerships.
authID is also committed to corporate governance and regularly engages with its shareholders. The company’s 2024 Annual Meeting of Stockholders will include proposals to elect directors, ratify the appointment of auditors, and approve other key measures. The meeting will be held virtually, ensuring broad participation and transparency.
For more information, visit authID.ai.
authID.ai (Nasdaq: AUID) has been granted U.S. Patent No. 11182777, set to be issued on November 23, 2021. This patent covers a method linking identity attributes to a Primary Account Number (PAN) for secure user authentication. It allows transactions to be authorized via biometrics without revealing sensitive data, enhancing security during identity verification processes across various platforms. CEO Tom Thimot emphasized the patent's significance in their vision of 'payments by face,' aiming for seamless and secure transactions.
authID.ai (Nasdaq: AUID) has appointed Neepa Patel as its fifth independent director amid its strategic expansion phase. With 15 years of expertise in blockchain and compliance, Patel strengthens the Board's depth in disruptive technologies. Her previous roles include CEO of Themis and Head of Compliance at R3. CEO Tom Thimot emphasizes that Patel's experience will enhance the company's efforts in new markets and value generation strategies. Patel acknowledges authID's role in evolving identity assurance and expresses confidence in its growth trajectory.
authID.ai (Nasdaq: AUID), a leader in biometric identity verification, announces that CEO Tom Thimot will present at the Ladenburg Thalmann Virtual Tech Expo on November 18, 2021, at 4:00 p.m. ET. This one-day event will feature around 50 prominent technology companies. Investors can engage in one-on-one meetings via the event's website. authID.ai offers a secure platform that utilizes biometric technology to enhance identity security without usernames or passwords.
authID.ai (formerly Ipsidy), a leader in mobile biometric identity authentication, reported a net loss of $5.2 million for Q3 2021, up from $1.9 million in Q3 2020. Revenue remained steady at $0.5 million for the quarter, totaling $1.7 million for nine months, compared to $1.6 million in 2020. The company rebranded and uplisted to NASDAQ under ticker AUID, launching its Verified™ service at Money 20/20. With a strengthened leadership team, authID.ai aims to expand its innovative biometric solutions amid growing cybersecurity demands.
authID.ai (Nasdaq: AUID) will report its financial results for Q3 FY2021 on November 8, after market close. A conference call will follow at 5:00 p.m. EST, featuring insights from CEO Tom Thimot and other executives. The call will cover financial results and a corporate update, including market and product launch discussions. Investors can access the webcast and presentation through authID.ai's investor relations page. The company specializes in biometric identity authentication, aiming to enhance security and trust through its innovative technology.
authID.ai (Nasdaq: AUID) has partnered with Hamilton Reserve Bank (HRB) to enhance its digital banking services using authID.ai’s identity verification solutions. The HRB will implement Verified™, a biometric multi-factor authentication system, to improve security and customer onboarding processes while eliminating passwords. This collaboration supports HRB’s goal to onboard one million new customers in the next year and ensures compliance with AML/KYC regulations. The integration aims to streamline operations and enhance customer experiences across over 150 countries.
authID.ai has launched its biometric authentication service, Verified™, to replace vulnerable one-time SMS passcodes, enhancing security for businesses. Available for a free 14-day trial, the service offers mobile facial biometric authentication, surpassing traditional methods like passwords. Companies can test APIs in a sandbox for free to ensure easy integration. This innovative solution aims to diminish account fraud while improving user experience. The launch was made on October 25, 2021, at Money20/20 in Las Vegas.
authID.ai (Nasdaq: AUID) has appointed Steven J. Fazio as Senior Vice President of Sales, reporting to CEO Tom Thimot. Fazio, with 25 years of experience in security and infrastructure, aims to drive the company’s expansion into key markets such as banking and healthcare. His previous clients include major companies like American Express and MLB. Fazio's compensation includes a grant of options for 210,000 shares at $11.75 each. The move is expected to enhance authID's biometric identity authentication solutions, potentially increasing revenue streams.
On August 26, 2021, authID.ai (Nasdaq: AUID) announced the closing of a public offering of 1,642,856 shares of common stock at $7.00 per share, raising approximately $11.5 million. This included 214,285 shares sold from the underwriter's option. The company plans to utilize the proceeds for software development, business expansion, and general corporate purposes. The common shares began trading on August 24, 2021. ThinkEquity served as the sole book-running manager for this offering.
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