Ipsidy Inc. ( (AUID) ) has released its Q4 earnings. Here is a breakdown of the information Ipsidy Inc. presented to its investors.
authID Inc., a prominent player in the biometric identity verification and authentication sector, provides solutions that ensure secure digital onboarding and account protection for enterprises. The company recently released its financial results for the fourth quarter and fiscal year ending December 31, 2024, highlighting significant growth in revenue and recurring revenue metrics. authID reported a substantial increase in total revenue for the fourth quarter, rising to $0.20 million from $0.07 million in the previous year. The annual revenue also saw a notable rise to $0.89 million compared to $0.19 million in 2023. Despite the revenue growth, the company faced increased operating expenses, resulting in a loss from continuing operations of $14.3 million for the year, an improvement from the previous year’s loss of $19.6 million. The company’s strategic initiatives included signing a landmark $10 million deal with a next-generation AI company and expanding partnerships to enhance global social welfare initiatives. authID also launched PrivacyKey™, a pioneering solution in biometric authentication privacy, and joined the Accountable Digital Identity Association to influence global standards for digital identities. Looking ahead, authID’s management is optimistic about 2025, with expectations of securing contracts with Fortune 500 and multinational clients, and a focus on converting bookings into revenue to drive future growth.
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