Quarterly ResultMay 14, 2026, 04:22 PM
authID Q1 Revenue +62% to $0.48M; Net Loss $(4.46M); Going Concern Warning
AI Summary
authID Inc. reported a 62% increase in Q1 2026 revenue to $0.48 million, up from $0.30 million in Q1 2025. Despite the revenue growth, the company's net loss widened to $(4.46) million from $(4.34) million year-over-year, and it issued a going concern warning due to an accumulated deficit of $196.2 million and continued operational cash burn. Subsequent to the quarter, authID raised approximately $3.6 million in net proceeds through a private placement of Senior Secured Debentures and warrants. The company also faces a class action lawsuit alleging BIPA violations.
Key Highlights
- Q1 2026 revenue increased 62% to $480,151 from $296,256 in Q1 2025.
- Net loss for Q1 2026 was $(4,463,536), compared to $(4,339,467) in Q1 2025.
- Basic and diluted net loss per share improved to $(0.28) from $(0.40) year-over-year.
- Cash used in operating activities was $(3,416,791) in Q1 2026, an improvement from $(5,358,306) in Q1 2025.
- Cash balance at March 31, 2026, was $1,191,282, down from $4,608,073 at December 31, 2025.
- Subsequent to quarter-end, authID raised approximately $3.6 million in net proceeds from a private placement.
- Remaining Performance Obligation (RPO) was $2.0 million as of March 31, 2026.
- Three customers represented 81% of gross revenue for Q1 2026.