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) 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.
authID.ai (Nasdaq: AUID) reported financial results for Q1 2022, achieving total revenue of $0.6 million, unchanged from Q1 2021. However, net loss increased to $5.3 million, compared to $2.5 million a year prior, with a net loss per share of $0.22. The company secured $22.5 million in financing to support growth initiatives. Key accomplishments included new customer agreements, integration with Microsoft, and recognition as the 'Best ID Management Platform' by the FinTech Breakthrough Awards. The company aims for positive cash flow by 2024.
authID.ai (Nasdaq: AUID) announces the appointment of Annie Pham as Chief Financial Officer effective June, following Stuart Stoller's retirement after serving since 2017. During his tenure, Stoller significantly contributed to the company’s growth and its Nasdaq uplisting in 2021, alongside a funding raise of over $22 million. Pham, with over 20 years of finance experience, comes from SonicWall, where she led a team of over 30 professionals. She aims to execute the company's growth strategy and enhance financial management, driving value for customers and shareholders.
authID.ai (Nasdaq: AUID) will report its financial results for the first quarter ending March 31, 2022, on May 9, 2022, after market close. Following this, CEO Tom Thimot and CFO Stu Stoller will host a conference call at 5:30 p.m. EDT to discuss the results and provide updates. Investors can access the call via a dedicated link or by dialing in, and a replay will be available until May 16. The company specializes in biometric identity authentication solutions, aiming to enhance security and privacy for users.
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