secwatch.observer — SEC 8-K summary
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Issuer:     authID Inc. (AUID)
CIK:        0001534154
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001213900-23-040545
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534154/000121390023040545/0001213900-23-040545-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534154/000121390023040545/ea178743-8k_authid.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-040545

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer