secwatch.observer — SEC 8-K summary
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Issuer:     authID Inc. (AUID)
CIK:        0001534154
Form:       8-K
Filed at:   2022-05-09T23:59:59+00:00
Accession:  0001213900-22-024943
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 2.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

authID.ai Q1 revenue flat at $0.6M; net loss widens to $5.3M; plans exit of legacy businesses
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- Net loss $5.3M ($0.22/share) vs $2.5M ($0.13/share) YoY; Adjusted EBITDA loss $2.9M vs $1.3M.
- Revenue unchanged at $0.6M; company cites increased investment in tech, marketing, and sales.
- Board approved exit of MultiPay (Colombia) and Cards Plus (South Africa); cash costs for MultiPay <$250K; Cards Plus write-down $144K.
- Completed $22.5M financing in March to support working capital through 2023; reiterates positive cash flow target by 2024.
- CFO Stuart Stoller retiring; Annie Pham appointed successor effective June 2022; new board member Joe Trelin named.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534154/000121390022024943/0001213900-22-024943-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534154/000121390022024943/ea159574-8k_ipsidyinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-024943

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