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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 14, 2025
authID Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-40747 | 46-2069547 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification Number) |
1580 N. Logan St, Suite 660, Unit 51767, Denver, Colorado 80203
(Address of principal executive offices) (zip code)
516-274-8700
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||
| Common Stock par value $0.0001 per share | AUID | The Nasdaq Stock Market, LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On August 14, 2025, authID Inc. (the “Company”) issued a press release regarding its financial results for the fiscal quarter ended June 30, 2025. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The Company also published a presentation used in connection with a conference call hosted on August 14, 2025. The full text of the presentation published in connection with the announcement is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information contained in this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Index of Exhibits
| Exhibit Number |
Description | |
| 99.1 | Press Release dated August 14, 2025 | |
| 99.2 | Presentation dated August 14, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| authID Inc. | ||
| Date: August 14, 2025 | By: | /s/ Edward Sellitto |
| Name: | Edward Sellitto | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
authID Reports Financial and Operating Results for the Second Quarter 2025; Delivers the Highest Revenue in the Company’s History
DENVER, Aug. 14, 2025 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today reported financial and operating results for the second quarter ended June 30, 2025.
Second Quarter 2025 vs. Second Quarter 2024 Financial Summary
| · | Total revenue for the quarter increased significantly to a record $1.4 million, compared to $0.3 million a year ago. |
| · | Operating expenses were $5.9 million, compared to $3.6 million a year ago. |
| · | Net loss was $4.5 million, or $0.33 per share, compared to a loss of $3.3 million, or $0.34 per share a year ago. |
| · | Adjusted EBITDA Loss of $3.4 million (non-GAAP measure as defined below), compared with $2.5 million a year ago. |
| · | Gross bARR (Booked Annual Recurring Revenue) of $2.2 million (non-GAAP measure as defined below), compared with $0.6 million a year ago. |
“In the second quarter, we delivered our highest quarterly revenue in the history of our business, further demonstrating that we are executing our plan to drive growth and value for shareholders,” said Rhon Daguro, authID’s Chief Executive Officer. “Overall, our strong second quarter results reflect both the dedication of our team and the progress we’ve made in strengthening our technology and expanding our market reach. More recently, we launched IDX, a major step forward in delivering value to our customers and significantly expanding our total addressable market. Alongside these achievements, combined with ongoing product enhancements and a robust sales pipeline, we believe we are positioned for continued momentum.”
Recent Business and Operational Highlights
| · | Launched IDX, one of the biggest advances in the identity industry, with NEC, the largest global biometric hardware provider. This launch dramatically increases the Company’s total addressable market in the identity management industry. |
| · | Launched a paid live production trial agreement with a Fortune Global 500 company in the UK to deliver authID’s solution in a controlled rollout. Upon completion, authID expects to secure a longer-term agreement. |
| · | Signed an agreement with Prove, one of the largest identity fraud platforms in the world, and are in the final stages of launching with the Company’s first joint customer. |
| · | Enhanced PrivacyKeyTM with a one-to-many search capability, giving companies the ability to scan multiple faces, and launched it in production pilots. PrivacyKey offers our customers the fastest speed and highest accuracy in the market. |
| · | Added highly qualified board members to strengthen authID’s mission and drive value creation for all stakeholders. |
Financial Results for the Second Quarter and Six Months Ended June 30, 2025
Total revenue for the three months ended June 30, 2025 was $1.4 million, compared with $0.3 million a year ago. Total revenue for the six months ended June 30, 2025 was $1.7 million, compared to $0.4 million in the year-ago period.
Operating expenses for the three months ended June 30, 2025, were $5.9 million, compared to $3.6 million a year ago. Operating expenses for the six months ended June 30, 2025 were $10.6 million, compared with $6.9 million in the year-ago period. The 2025 increase is primarily due to increased headcount and continued investment in sales and R&D. There was also an increase of $0.8M in provision for estimated credit loss expense, which represents the Company’s updated assessment of credit risk as of June 30, 2025 related to certain customer contracts.
Net loss for the three months ended June 30, 2025 was $4.4 million, of which non-cash charges were $1.1 million, compared with a net loss of $3.3 million a year ago, of which non-cash charges were $0.8 million. Net loss for the six months ended June 30, 2025 was $8.7 million, of which non-cash charges were $1.6 million, compared with a net loss of $6.3 million a year ago, of which non-cash charges were $1.6 million.
Loss per share for the three months ended June 30, 2025 was $0.33, compared with $0.34 a year ago. Loss per share for the six months ended June 30, 2025 was $0.72, compared with $0.67 a year ago.
Adjusted EBITDA loss was $3.4 million for the three months ended June 30, 2025, compared with a loss of $2.5 million a year ago. Adjusted EBITDA loss was $7.3 million for the six months ended June 30, 2025, compared with a loss of $4.9 million a year ago. The increase in adjusted EBITDA loss is primarily driven by the increase in headcount investment in sales and R&D as well as the provision for estimated credit loss expense. Please refer to Table 1 for reconciliation of net loss to adjusted EBITDA (a non-GAAP measure).
Remaining Performance Obligation (RPO) as of June 30, 2025, was $13.8 million, of which $1.2 million is held as deferred revenue and $12.6 million is related to other non-cancellable contracted amounts, compared to RPO of $4.2 million as of June 30, 2024. The Company expects to recognize the full RPO of $13.8 million over the entire life of the contracts, which are typically signed with a 3-year term.
The gross amount of Booked Annual Recurring Revenue or bARR, (a non-GAAP measure, as defined below), signed in the second quarter of 2025 was $2.2 million, up from $0.63 million of gross bARR a year ago. The net amount of bARR was $1.9 million compared to $0.63 million of net bARR signed in the comparable period in 2024. The Q2 bARR is comprised of $0.9 million in Committed Annual Recurring Revenue (cARR) and $1.2 million in estimated Usage Above Commitments (UAC).
The gross amount of Booked Annual Recurring Revenue or bARR, signed in the six months ended June 30, 2025 was $2.2 million, up from $0.73 million of gross bARR a year ago. The net amount of bARR was $1.8 million compared to $0.73 million of net bARR signed in the comparable period in 2024. The 2025 bARR is comprised of $0.9 million in Committed Annual Recurring Revenue (cARR) and $1.3 million in estimated Usage Above Commitments (UAC).
The net amount of bARR reflects the deduction of the bARR of contracts previously included in reported bARR, due to certain customers experiencing delays in Production Go-Live timing and volume ramping.
The amount of Annual Recurring Revenue or ARR, (a non-GAAP measure, as defined below) as of June 30, 2025 was $5.8 million, compared to $1.1 million of ARR as of Q2 2024 and $1.2 million as of Q1 2025.
See below for further definition and explanation of ARR and bARR, non-GAAP measures.
Conference Call
A conference call and webcast will be held today at 5:00p.m. EDT, hosted by authID Chief Executive Officer Rhon Daguro and Chief Financial Officer Ed Sellitto to discuss the financial results and provide a corporate update.
To participate on the live conference call, please access this registration link and you will be provided with dial-in details. To avoid delays, participants are encouraged to dial into the conference call 15 minutes ahead of the scheduled start time. A live webcast of the call will be available at webcast registration and on the “Events & Presentations” page of the Company’s website at investors.authid.ai. Only participants on the live conference call will be able to ask questions.
A replay of the event and a copy of the presentation will also be available for 90 days at authID’s Investor Relations site.
About authID Inc.
authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.
For further information please visit authid.ai
Investor Relations Contacts
authID Investor Relations
investor-relations@authID.ai
Media Contacts
Walter Fowler
1-631-334-3864
wfowler@nexttechcomms.com
Forward-Looking Statements
This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the future results of operations, growth and sales, potential contract signings, booked Annual Recurring Revenue (bARR) (and its components cARR and UAC), Annual Recurring Revenue (ARR), cash flow, cash position and financial position, business strategy, plans and objectives of management for future operations of both authID Inc. and its business partners, are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in which authID expects to operate in the future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the Company’s ability to attract and retain customers; successful implementation of the services to be provided under new customer contracts and their adoption by customers’ users; the Company’s ability to compete effectively; changes in laws, regulations and practices; the increase in international tariffs and uncertainty over international trading conditions, changes in domestic and international economic and political conditions, the impact of the wars in Ukraine and the Middle East, inflationary pressures, changes in interest rates, and others. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024 filed at www.sec.gov and other documents filed with the SEC for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.
Non-GAAP Financial Information
The Company provides certain non-GAAP financial measures in this statement. These non-GAAP key business indicators, which include Adjusted EBITDA, bARR and ARR should not be considered replacements for and should be read in conjunction with the GAAP financial measures.
Management believes that Adjusted EBITDA, when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period results. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of our fundamental business activities and is also frequently used by securities analysts, investors, and other interested parties in the evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our Company and our management.
Adjusted EBITDA is a non-GAAP financial measure that represents GAAP net income (loss) adjusted to exclude (1) interest expense and debt discount and debt issuance costs amortization expense, (2) interest income, (3) provision for income taxes, (4) depreciation and amortization, (5) stock-based compensation expense and certain other items management believes affect the comparability of operating results.
Please see Table 1 below for a reconciliation of Adjusted EBITDA – continuing operations to net loss – continuing operations, the most directly comparable financial measure calculated and presented in accordance with GAAP.
TABLE 1
Reconciliation of Loss from Continuing Operations to Adjusted EBITDA Continuing Operations.
| Three Months Ended June 30, |
Six Months Ended June 30, |
|||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Loss from continuing operations | $ | (4,384,779 | ) | $ | (3,261,241 | ) | $ | (8,724,246 | ) | $ | (6,318,818 | ) | ||||
| Addback: | ||||||||||||||||
| Interest expense, net | 171 | 10,369 | 12,883 | 23,507 | ||||||||||||
| Interest income | (86,846 | ) | (73,957 | ) | (138,390 | ) | (182,877 | ) | ||||||||
| Severance cost | - | 8,638 | - | 14,251 | ||||||||||||
| Depreciation and amortization | 30,249 | 44,004 | 60,441 | 87,412 | ||||||||||||
| Stock compensation | 1,078,201 | 725,704 | 1,532,540 | 1,448,675 | ||||||||||||
| Adjusted EBITDA continuing operations (Non-GAAP) | $ | (3,363,004 | ) | (2,546,483 | ) | (7,256,772 | ) | (4,927,850 | ) | |||||||
Management believes that bARR and ARR, when viewed with our results under GAAP, provide useful information about the direction of future growth trends of the Company’s revenues. We also rely on bARR as one of several primary measures to review and assess the sales performance of our Company and our management team in connection with our executive compensation. The Company defines Booked Annual Recurring Revenue or bARR, as the amount of annual recurring revenue represented by the estimated amounts of annual recurring revenue we believe will be earned under contracted orders, looking out eighteen months from the date of signing of each customer contract. This estimate is comprised of two components (1) Committed Annual Recurring Revenue (cARR), which represents the minimum amounts that customers are contractually committed to pay each year over the life of the contract and (2) Usage Above Commitments (UAC), which represents our estimate of the rate of annual recurring revenue arising from actual usage of our services above the contractual minimums, that we believe the Customer will achieve after 18 months. The net amount of bARR reflects the deduction of the bARR of contracts previously included in reported bARR, which were subject to attrition, or other downward adjustments during the quarter.
The Company defines Annual Recurring Revenue or ARR, as the amount of recurring revenue recognized during the last three months of the relevant period as determined in accordance with GAAP, multiplied by four.
bARR may be distinguished from ARR, as bARR does not take specifically into account the time to implement any contract for authID’s services, nor for any ramp in adoption, or seasonality of usage of our biometric products but is based on the assumption that 18 months after signing these matters will have been generally resolved. Furthermore, bARR is based on estimates of future revenues under particular contracts, whereas ARR, whilst also forward-looking, is based on historical revenues recognized in accordance with GAAP during the relevant period. A reconciliation of bARR and ARR to a GAAP measure is not provided as there are no comparable GAAP measures and we believe that any attempt at such reconciliation may be confusing to investors. bARR and ARR have limitations as analytical tools, and you should not consider them in isolation from, or as a substitute for, analysis of our results as reported under GAAP. Some of these limitations are:
| · | bARR & ARR should not be considered as predictors of future revenues but only as indicators of the direction in which revenues may be trending. Actual revenue results in the future as determined in accordance with GAAP may be significantly different to the amounts indicated as bARR or ARR at any time. |
| · | bARR and ARR are to be considered “forward-looking statements” and subject to the same risks, as other such statements (see note on “Forward-Looking Statements” above). |
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| Three Months Ended June 30 |
Six Months Ended June 30 |
|||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues, net | 1,444,599 | 280,438 | 1,740,855 | 437,816 | ||||||||||||
| Operating Expenses: | ||||||||||||||||
| General and administrative | 3,906,933 | 2,169,160 | 6,552,633 | 4,231,521 | ||||||||||||
| Research and development | 1,978,871 | 1,392,103 | 3,977,534 | 2,597,071 | ||||||||||||
| Depreciation and amortization | 30,249 | 44,004 | 60,441 | 87,412 | ||||||||||||
| Total operating expenses | 5,916,053 | 3,605,267 | 10,590,608 | 6,916,004 | ||||||||||||
| Loss from continuing operations | (4,471,454 | ) | (3,324,829 | ) | (8,849,753 | ) | (6,478,188 | ) | ||||||||
| Other Income (Expense): | ||||||||||||||||
| Interest expense, net | (171 | ) | (10,369 | ) | (12,883 | ) | (23,507 | ) | ||||||||
| Interest income | 86,846 | 73,957 | 138,390 | 182,877 | ||||||||||||
| Other income (expense), net | 86,675 | 63,588 | 125,507 | 159,370 | ||||||||||||
| Loss from continuing operations before income taxes | (4,384,779 | ) | (3,261,241 | ) | (8,724,246 | ) | (6,318,818 | ) | ||||||||
| Income tax expense | - | - | - | - | ||||||||||||
| Net loss | $ | (4,384,779 | ) | $ | (3,261,241 | ) | $ | (8,724,246 | ) | $ | (6,318,818 | ) | ||||
| Net Loss Per Share - Basic and Diluted | $ | (0.33 | ) | $ | (0.34 | ) | $ | (0.72 | ) | $ | (0.67 | ) | ||||
| Weighted Average Shares Outstanding - Basic and Diluted: | 13,222,454 | 9,501,691 | 12,078,039 | 9,475,956 | ||||||||||||
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash | $ | 8,300,280 | $ | 8,471,561 | ||||
| Accounts receivable, net | 1,079,776 | 97,897 | ||||||
| Contract assets | 564,070 | 426,859 | ||||||
| Deferred contract costs | 697,304 | 617,918 | ||||||
| Other current assets, net | 833,875 | 460,192 | ||||||
| Total current assets | 11,475,305 | 10,074,427 | ||||||
| Intangible Assets, net | 154,977 | 213,718 | ||||||
| Goodwill | 4,183,232 | 4,183,232 | ||||||
| Total assets | $ | 15,813,514 | $ | 14,471,377 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable and accrued expenses | $ | 1,357,194 | $ | 1,715,410 | ||||
| Commission liability | 308,194 | 459,657 | ||||||
| Severance liability | - | 325,000 | ||||||
| Convertible debt, net | - | 240,884 | ||||||
| Deferred revenue | 1,154,402 | 215,237 | ||||||
| Total current liabilities | 2,819,790 | 2,956,188 | ||||||
| Total liabilities | $ | 2,819,790 | $ | 2,956,188 | ||||
| Commitments and Contingencies (Note 8) | ||||||||
| Stockholders’ Equity: | ||||||||
| Common stock, $0.0001 par value, 150,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 13,443,740 and 10,920,909 shares issued and outstanding as of June 30, 2025 and December 31, 2024 | 1,344 | 1,092 | ||||||
| Additional paid-in capital | 195,515,123 | 185,312,508 | ||||||
| Accumulated deficit | (182,532,775 | ) | (173,808,529 | ) | ||||
| Accumulated comprehensive income | 10,032 | 10,118 | ||||||
| Total stockholders’ equity | 12,993,724 | 11,515,189 | ||||||
| Total liabilities and stockholders’ equity | $ | 15,813,514 | $ | 14,471,377 | ||||
authID INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Six Months Ended | ||||||||
| June 30, | ||||||||
| 2025 | 2024 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net loss | $ | (8,724,246 | ) | $ | (6,318,818 | ) | ||
| Adjustments to reconcile net loss with cash flows from operations: | ||||||||
| Stock-based compensation | 1,532,540 | 1,448,675 | ||||||
| Non-cash severance expense | 206,000 | - | ||||||
| Depreciation and amortization expense | 60,441 | 87,412 | ||||||
| Provision for expected credit losses | 576,038 | - | ||||||
| Amortization of debt discounts and issuance costs | 4,116 | 8,230 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (1,557,917 | ) | (101,390 | ) | ||||
| Contract assets | (137,211 | ) | (201,610 | ) | ||||
| Deferred contract costs | (79,386 | ) | (76,973 | ) | ||||
| Other current assets | (373,683 | ) | (295,769 | ) | ||||
| Accounts payable and accrued expenses | (683,216 | ) | (411,552 | ) | ||||
| Commissions liability | (151,463 | ) | - | |||||
| Deferred revenue | 939,165 | 112,144 | ||||||
| Net cash flows from operating activities | (8,388,822 | ) | (5,749,651 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchase of intangible assets | (1,700 | ) | (15,582 | ) | ||||
| Net cash flows from investing activities | (1,700 | ) | (15,582 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from sale of common stock, net of offering costs | 8,464,327 | 10,001,398 | ||||||
| Repayment of convertible notes | (245,000 | ) | - | |||||
| Net cash flows from financing activities | 8,219,327 | 10,001,398 | ||||||
| Effect of Foreign Currencies | (86 | ) | (5,871 | ) | ||||
| Net Change in Cash | (171,281 | ) | 4,230,294 | |||||
| Cash, Beginning of the Period | 8,471,561 | 10,177,099 | ||||||
| Cash, End of the Period | $ | 8,300,280 | $ | 14,407,393 | ||||
| Supplemental Disclosure of Cash Flow Information | ||||||||
| Cash paid for interest | $ | 10,370 | $ | 15,276 | ||||
| Warrants issued as offering costs | $ | 864,165 | 877,392 | |||||
| Cashless option and warrant exercises | $ | 438,000 | $ | 78,042 | ||||
Exhibit 99.2
© 2025 authID Inc. All Rights Reserved. Ǫ2 2025 Results Conference Call August 14, 2025
© 2025 authID Inc. All Rights Reserved. This Presentation and information provided at a webcast or meeting at which it is presented (the “Presentation") has been prepared on the basis of information furnished by the management of authID Inc . (“authID” or the “Company”) and has not been independently verified by any third party . This Presentation is provided for information purposes only . This Presentation is not an offer to sell nor a solicitation of an offer to buy any securities . While the Company is not aware of any inaccuracies, no warranty or representation is made by the Company or its employees and representatives as to the completeness or accuracy of the information contained herein . This Presentation also contains estimates and other statistical data made by independent parties and us relating to market size and other data about our industry . This data involves a number of assumptions and limitations, and you should not give undue weight to such data and estimates . Information contained in this Presentation or presented during this meeting includes “forward - looking statements . ” All statements other than statements of historical facts included herein, including, without limitation, those regarding the future results of operations, growth and sales, potential contract signings, booked Annual Recurring Revenue (bARR) (and its components cARR and UAC), Annual Recurring Revenue (ARR), cash flow, cash position and financial position, business strategy, plans and objectives of management for future operations of both authID Inc . and its business partners, are forward - looking statements . Such forward - looking statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in which authID expects to operate in the future, which assumptions may or may not be fulfilled in practice . Actual results may vary materially from the results anticipated by these forward - looking statements as a result of a variety of risk factors, including the Company’s ability to attract and retain customers ; successful implementation of the services to be provided under new customer contracts and their adoption by customers' users ; the Company’s ability to compete effectively ; changes in laws, regulations and practices ; the increase in international tariffs and uncertainty over international trading conditions, changes in domestic and international economic and political conditions, the impact of the wars in Ukraine and the Middle East, inflationary pressures, increases in interest rates, and others . See the Company’s Annual Report on Form 10 - K for the Fiscal Year ended December 31 , 2024 , filed at www . sec . gov and other documents filed with the SEC for other risk factors which investors should consider . These forward - looking statements speak only as to the date of this presentation and cannot be relied upon as a guide to future performance . authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward - looking statements contained in this presentation to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based . This Presentation contains references to the Company’s and other entities’ trademarks . Such trademarks are the property of their respective owner . The Company does not intend its use or the display of other companies’ trade names or trademarks to imply a relationship with or endorsement of the Company by any other entity . By reading this Presentation or attending a webcast or meeting at which it is presented you accept and agree to these terms, disclaimers and limitations . Disclaimer G Forward Looking Statements - 2 -© 2025 authID Inc. All Rights Reserved. CEO Remarks
Largest Revenue Quarter 0.04M - 4 - © 2025 authID Inc. All Rights Reserved. 0.04M 0.07M 0.16M 0.28M 0.25M 0.20M 0.30M 1.44M Ǫ2 2023 Ǫ3 2023 Ǫ4 2023 Ǫ1 2024 Ǫ2 2024 Ǫ3 2024 Ǫ4 2024 Ǫ1 2025 Ǫ2 2025 Every Identity Stack Will Include Biometrics Biometrics Provides The Highest Level of Security - 5 - © 2025 authID Inc. All Rights Reserved.
AuthID G NEC Launch IDX – Protecting Enterprises 16 Billion Passwords Exposed Secure by Design – IDX Eliminates Attacks - 6 - © 2025 authID Inc. All Rights Reserved.
Second Ǫuarter 2025 Highlights UK - Based Fortune 500 Large Retailer • Successful pilot • Thousands of employees are live • PrivacyKey TM launch • Proof TM & Password Reset NEC – Large Biometric Hardware Provider • Global IDX TM deployment • Create interoperable IDs between companies and countries • Solves common supply chain security and authentication issues • Ram Menghani, former NEC Exec, added to the Board of Directors Prove – Large Fraud Platform • Integration with leading global anti - fraud solution • Press release, webinar series, launch event • PrivacyKey & Proof • First live customer expected in August Fortune 500 Intl. HCM & Benefits Co. • PrivacyKey pilot advancing • Planned Global rollout • 100 - plus countries • Multi - million potential users Getting Customers Live and Ramping Faster on a Global Scale - 7 - © 2025 authID Inc. All Rights Reserved.
POCs Shift to Pilots Testing Technology Verifying Use Case Applying Technology in Live Operations Live Production • Completed Vendor Onboarding • Integration to Customer Platform • Established Contractual Framework • Validated User Experience • Customer Investment in Capital and Resources Pre - Product General Availability Proof of Concept (POC) Product General Availability Today Paid Pilot Revenue Accelerate Time To Go - Live and Time To Revenue - 8 - © 2025 authID Inc. All Rights Reserved.
PrivacyKey Keeps Getting Better G8% 1.5% 0.5% User Acceptance Rate by Attempt 1 2 3 Tx Attempts Winning Performance and Capabilities in the Market - 9 - © 2025 authID Inc. All Rights Reserved.
Production Data 07/01/25 - 08/01/25 PrivacyKey General Availability Performance • 98% Acceptance Rate on the First Attempt • 22ms Authentication Speed • 1:1Bn False Match Rate Accuracy • No Biometric Storage Launch of PrivacyKey One to Many Search • Sub - Second Performance • SDKs for On - Device Search • Time C Attendance and Pay - by - Face Use Cases Supply Chain ID Vulnerabilities – and the Solution $61B Identity Management Market by 2032 Suppliers Factories Warehouse Distributors PROBLEM: Contractors hand off to other parties who share their access without approval, endangering the enterprise with liability, fraud, and theft SOLUTION : IDX prevents Identity sharing while providing cross - org authentication while complying with global regulations Built on the ADIA standard with NEC HQ IDX ensures every ID has a known real human owner – Bound to their Biometric © 2025 authID Inc. All Rights Reserved. - 10 -© 2025 authID Inc. All Rights Reserved. CFO Remarks
2025 Ǫ2 GAAP Financial Results Non - Cash C One - Time Revenue Operating Expenses Net Loss Severance Charges Net Loss Per Share ($M) ($M) ($M) ($M) Continuing Operations $0.72 $0.67 $0.34 $0.33 ‘24 ‘25 ‘24 ‘25 3 months 6 months 1.6M 1.6M 1.1M 0.8M ‘24 ‘25 ‘24 ‘25 3 months 6 months 8.7M 6.3M 4.4M 3.3M ‘24 ‘25 ‘24 ‘25 3 months 6 months 10.6M 6.9M 5.9M 3.6M ‘24 ‘25 ‘24 ‘25 3 months 6 months 1.74M 1.44M 0.44M 0.28M ‘24 ‘25 ‘24 ‘25 3 months 6 months - 12 - © 2025 authID Inc. All Rights Reserved.
2025 Ǫ2 GAAP Financial Results - 13 - © 2025 authID Inc. All Rights Reserved. • RPO represents deferred revenue and non - cancelable contracted revenue over the life of the contract that has not yet been recognized. • Contracts are typically signed with a minimum 3 - year term. Change Period Ending Ǫ4 2024 Ǫ2 2025 +$0.93M $0.22M $1.15M Deferred Revenue ($1.42M) $14.04M $12.62M Additional non - cancelable contracted revenue ($0.49M) $14.26M $13.77M Total Remaining Performance Obligation (RPO) Remaining Performance Obligation Cash Balance Shares Outstanding $8.3M 13.4M - 14 - © 2025 authID Inc. All Rights Reserved. +$8.5M net proceeds from April & May 2025 Capital Raises +2.2M shares from April & May 2025 Capital Raises 2025 Ǫ2 GAAP Financial Results Balance Sheet Highlights
2025 Ǫ2 Non - GAAP* Financial Results Q2 2024 Q2 2025 * See Q2 2025 Earnings Press Release for important information about Non - GAAP Measures **cARR = Committed Annual Recurring Revenue, Est. UAC = Estimated Usage Above Commitment Q2 2023 Q2 2024 3m o 6 mo bARR Booked Annual Recurring Revenue** ARR Annual Recurring Revenue Adjusted EBITDA Loss 6 months ended June 30 3 months ended June 30 2024 Est. UAC 2025 Est. UAC 2024 cARR 2025 cARR $2.16M $2.15M $1.24M $1.25M $0.63M $0.73M $0.27M $0.91M $0.33M $0.91M $0.35M $0.39M 2024 2025 2024 2025 5.8M 1.1M Q2 Q2 2024 2025 7.3M 4.9M 3.4M 2.5M ‘24 ’25 ‘24 '25 3 months 6 months - 15 - © 2025 authID Inc. All Rights Reserved.
Revenue Growth Stages Progressing through our growth stages to build a sustainable, recurring revenue stream - 16 - © 2025 authID Inc. All Rights Reserved. 2025 Q2 YTD Results 2024 FY Results Measurement Stage $2.16M $9.01M Booked Annual Recurring Revenue (bARR) Secure new customer contracts with booked Annual Recurring Revenue Bookings 1 $13.77M $14.26M Remaining Performance Obligation (RPO) Establish contractual commitments from customers Financial Commitments 2 $1.74M $0.89M GAAP Revenue • Implement new customers and recognize revenue • Ramp usage and exceed minimum commitments Revenue 3 2025 Focus Retention Rate Net Revenue Retention Retain customer contracts and expand relationships with upsells and cross - sells Retention and Expansion 4 ǪGA © 2025 authID Inc. All Rights Reserved.
