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 (Nasdaq: AUID) has integrated its Verified CloudConnect with BeyondTrust’s Privilege Management for enhanced security. This collaboration aims to combat cyberattacks by providing unphishable multi-factor authentication (MFA) through its Human Factor Authentication (HFA), ensuring only authorized users gain access. Key features include strong FIDO2 passwordless authentication and anti-spoofing measures. The integration supports a zero-trust model across enterprise endpoints, significantly decreasing the risk of password-related attacks and unauthorized access. The strategy fits into the broader trend of advanced identity and access management solutions.
authID (Nasdaq: AUID) is partnering with Juniper Research to host a webinar titled “Accelerating Zero Trust with Unphishable Human Factor Authentication” on February 15, 2023, at 1 pm ET. This educational event will address the growing threat of phishing attacks and the shortcomings of legacy multi-factor authentication (MFA) systems. Experts Nick Maynard and Jeremiah Mason will explore unphishable human factor authentication, its role in enhancing security, and its alignment with a zero-trust identity strategy. Key topics include the identity authentication market's state, MFA limitations, the zero-trust framework, and practical use cases for workforce and consumer applications.
authID (Nasdaq: AUID) has announced the integration of Verified CloudConnect with Okta’s Workforce Identity Cloud, enhancing their Human Factor Authentication™ (HFA). This collaboration aims to eliminate the need for passwords and mitigate risks related to phishing and credential compromise. By combining strong passwordless authentication with biometric verification, authID enhances security for both workforce and customer applications. The integration supports seamless user experiences while accelerating the move to zero trust security within organizations.
authID (Nasdaq: AUID) has partnered with Tax Status, a provider of IRS account monitoring, to enhance security for its enterprise partners. By implementing authID's Human Factor Authentication (HFA), Tax Status aims to protect sensitive tax data and streamline account onboarding. HFA integrates FIDO2 passwordless authentication and biometrics to prevent identity fraud. This collaboration supports compliance with IRS identity authentication mandates while ensuring a user-friendly experience. CEO Tom Thimot emphasized the importance of ethical data security in combating cybercrime.
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.
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