authID Q2 2023 revenue down to $0.04M; loss widens on $9.2M non-cash charges

authID Inc.

Revenue $0.04M (Q2 2023) vs $0.07M (Q2 2022); legacy product discontinued Apr 2022.
Net loss $10.9M (including $9.2M non-cash); net loss per share $2.15 vs $2.06 YoY.
Adjusted EBITDA loss improved to $1.7M from $3.0M YoY on cost cuts.
Secured $8.2M financing; converted ~$8.9M debt to equity; 1-for-8 reverse split completed in July.
Signed ABM (Fortune 500) as customer; appointed Ed Sellitto CFO effective Aug 15.

item 2.02 item 9.01

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 second quarter and six months ended June 30, 2023 results: revenue $0.04 million, EPS $2.15.

Period: the second quarter and six months ended June 30, 2023
Revenue: $0.04 million
EPS: $2.15
Result: reported results

Exact text from the filing

for the Second Quarter Ended June 30, 2023 The following highlights comprise results from continuing operations. ● Total revenue for the three months ended June 30, 2023 was $0.04 million, compared with total revenue of $0.07 million for the three months ended June 30, 2022. For the six months ended June 30, 2023, total revenue was $0.07 million, compared with

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Source: SEC EDGAR

accession 0001213900-23-065723

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