authID Q3 revenue drops to $0.03M; net loss widens to $6.3M; launches Verified 3.0

authID Inc.

Revenue $0.03M (all Verified licenses) vs $0.2M in Q3 2021; nine-month revenue $0.3M vs $0.5M.
Net loss $6.3M ($0.25 per share) vs $5.2M ($0.22) in Q3 2021; nine-month net loss $18.2M.
Adjusted EBITDA loss $3.3M vs $2.6M in Q3 2021; nine-month loss $9.1M vs $5.0M.
Launched Verified 3.0 with Human Factor Authentication in October; signed customer Kompliant and financial services firms.
CEO: cash and credit support operations through 2023; target positive cash flow in late 2024; sales cycles lengthened by macro headwinds.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

authID Inc. reported the nine months ended September 30, 2022 results: revenue $0.3 million, net income $18.2 million, EPS $0.73.

Period: the nine months ended September 30, 2022
Revenue: $0.3 million
Net income: $18.2 million
EPS: $0.73
Result: reported results

Exact text from the filing

● For both the three and nine-month periods, Verified software license revenue increased year over year. Total revenue for the three months ended September 30, 2022 was $0.03 million comprising only Verified software license revenue, compared with total revenue of $0.2 million for the same period in 2021, of which $0.01 million was from licenses of Verified software. For the nine months ended September 30, 2022, total revenue was $0.3 million, of which $0.1 million comprised Verified software license revenue. This compared with total revenue for the nine months ended September 30, 2021 of $0.5 million, of which $0.05 million was from Verified software license sales. ● Net loss for the three months ended September 30, 2022 was $6.3 million, compared with $5.2 million a year ago. For the nine-month period in 2022, net loss totaled $18.2 million, of which non-cash charges were $8.3 million. This compared with a net loss of $10.7 million, of which $5.3 million were non-cash charges, for th

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

authID Inc. reported the three months ended September 30, 2022 results: revenue $0.03 million, net income $6.3 million, EPS $0.25.

Period: the three months ended September 30, 2022
Revenue: $0.03 million
Net income: $6.3 million
EPS: $0.25
Result: reported results

Exact text from the filing

● For both the three and nine-month periods, Verified software license revenue increased year over year. Total revenue for the three months ended September 30, 2022 was $0.03 million comprising only Verified software license revenue, compared with total revenue of $0.2 million for the same period in 2021, of which $0.01 million was from licenses of Verified software. For the nine months ended September 30, 2022, total revenue was $0.3 million, of which $0.1 million comprised Verified software license revenue. This compared with total revenue for the nine months ended September 30, 2021 of $0.5 million, of which $0.05 million was from Verified software license sales. ● Net loss for the three months ended September 30, 2022 was $6.3 million, compared with $5.2 million a year ago. For the nine-month period in 2022, net loss totaled $18.2 million, of which non-cash charges were $8.3 million. This compared with a net loss of $10.7 million, of which $5.3 million were non-cash charges, for th

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authID Inc. filing history →

Source: SEC EDGAR

accession 0001213900-22-071321

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