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 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.
authID (Nasdaq: AUID) reported Q2 2022 results with a net loss of $6.4 million, up from $3.0 million a year ago. Total revenue remained flat at $0.1 million. However, the company achieved significant milestones, including ISO 27001 certification and a perfect score for biometric security standards, enhancing its market position. Recent client wins include the American Board of Radiology and various financial institutions, indicating growth in the healthcare and financial services sectors. The firm aims for positive cash flow by 2024, despite macroeconomic challenges.
authID (Nasdaq: AUID) announced a partnership with the American Board of Radiology (ABR) to implement its facial biometric solution, Verified, for certification exams. This collaboration enhances identity assurance for candidates through a seamless verification process. The ABR launched an online exam platform in May 2021, necessitating remote identity verification due to pandemic-related restrictions. The Verified solution allows candidates to self-verify via a simple selfie, improving exam integrity and candidate experience.
authID (Nasdaq: AUID) announced it will release its financial results for Q2 2022 on August 9, following which CEO Tom Thimot and CFO Annie Pham will host a conference call at 5:30 p.m. EDT. This earnings release is expected to shed light on the company's performance in the biometric identity authentication sector. Investors can access the webcast and presentation through provided links, with a replay available for 90 days on authID’s Investor Relations page.
FAQ
What is the current stock price of authID (AUID)?
What is the market cap of authID (AUID)?
What does authID Inc. do?
What is the significance of authID's biometric identity platform?
Which industries does authID serve?
What recent achievements has authID reported?
How does authID support its enterprise clients?
What are the financial targets for authID in 2024?
How can investors participate in authID’s 2024 Annual Meeting?
What security features does authID's platform offer?
How does authID ensure a user-friendly experience?
Where can I find more information about authID?
