authID Q1 revenue falls to $0.04M; loss $5.2M; CFO retention bonus of $240K secured

authID Inc.

Q1 revenue $0.04M (down from $0.2M); net loss $5.2M ($0.21 EPS) vs $5.1M ($0.22) prior year.
Adjusted EBITDA loss improved to $2.2M from $2.8M due to cost savings from restructuring.
Secured up to $3.6M in debt financing; initial drawdown $0.9M before fees and expenses.
CFO Annie Pham entered retention agreement with up to $240,625 bonus and accelerated equity vesting on termination.
Appointed Rhon Daguro as CEO, Joe Trelin as Chairman; four new directors elected.

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 first quarter ended March 31, 2023 results: revenue $0.04 million, net income $5.2 million loss, EPS $0.21 net loss per share.

Period: the first quarter ended March 31, 2023
Revenue: $0.04 million
Net income: $5.2 million loss
EPS: $0.21 net loss per share
Result: reported results

Exact text from the filing

Daguro. Financial Results for the First Quarter Ended March 31, 2023: The following highlights comprise results from continuing operations. ● Total revenue was $0.04 million for the first quarter ended March 31, 2023, compared with $0.2 million for the first quarter of 2022. The reduction was primarily attributed to revenue from a legacy

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authID Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-040545

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