AuthID Aims for $18M in Bookings by 2025 with Expanded IDX Platform Launch

authID Inc. reported its highest quarterly revenue at $1.4 million in Q2 2025, attributed to the company's strategy of signing clients and bringing them live. The CEO aims for $18M in bookings by 2025, with the IDX platform launch expanding the total addressable market.

July 2, 2025

authID Inc. (AUID) has reported its highest quarterly revenue of $1.4 million for the second quarter of 2025, marking a significant milestone for the company. The achievement is attributed to the company's strategy of signing clients and bringing them live, as highlighted by CEO Rhoniel A. Daguro during the earnings call [1].

The company's performance can be attributed to several strategic initiatives. The late July launch of the IDX platform is expected to be a major advancement in the identity industry, aiming to eliminate identity fraud, particularly within supply chain workforces. The IDX platform integrates biometric authentication with a comprehensive standard, enabling identity management for complex supply chains [1].

The quarter also saw the successful go-live of a PrivacyKey product with a U.K.-based Fortune Global 500 customer, demonstrating the potential for significant financial upside. Additionally, authID signed a partnership with NEC, a global biometric hardware provider, which will allow for the demonstration of interoperability between companies across different countries without altering existing identity management systems [1].

Further, the company announced a new partnership with Prove, one of the largest identity fraud platforms in the world, which is expected to have a revenue impact in the third quarter. The company's board also welcomed former NEC executive Ram Menghani as a director, strengthening ties with NEC [1].

CFO Edward C. Sellitto reported that total revenue for the quarter increased significantly to $1.4 million compared to $0.3 million last year and $0.3 million in Q1. Operating expenses for Q2 were $5.9 million compared to $3.6 million a year ago and $4.7 million last quarter. The net loss for the quarter was $4.4 million, including $1.1 million in noncash charges. The company's cash balance stood at $8.3 million following capital raises in April and May 2025 [1].

authID remains confident in its goal to deliver $18 million in bookings by 2025 and expects revenue impact from the Prove partnership to appear in Q3. The company is also optimistic about securing a long-term commitment with a large Fortune 500 international human capital company [1].

References

[1] https://seekingalpha.com/news/4485845-authid-targets-18m-in-2025-bookings-as-idx-platform-launch-expands-total-addressable-market