DENVER—Daguro Rhoniel, the Chief Executive Officer of authID Inc. (NASDAQ:AUID), recently acquired 4,000 shares of the company's common stock. According to a filing with the Securities and Exchange Commission, the shares were purchased at a weighted average price of $6.48, amounting to a total transaction value of $25,920. This purchase was executed on December 9, 2024, through a broker-dealer in open market transactions. The purchase comes as the stock shows significant volatility, with InvestingPro data indicating a 9.8% gain over the past week, despite a 33.4% decline year-to-date.
Following this transaction, Rhoniel now directly owns 24,833 shares of authID Inc. The acquisition reflects Rhoniel's ongoing commitment to the company, which specializes in prepackaged software services. With a market capitalization of $71.2 million and a price-to-book ratio of 4.4x, InvestingPro analysis suggests the stock is currently trading above its Fair Value.
In addition to his recent stock purchase, Rhoniel holds substantial stock options, including 183,125 shares at an exercise price of $5.48 and 306,875 shares at an exercise price of $3.176. These options are subject to vesting conditions based on performance and service, or may vest entirely upon a change of control.
AuthID Inc., formerly known as Ipsidy Inc., continues to adapt and evolve in the technology sector, with its leadership maintaining a vested interest in its future performance.
In other recent news, authID has secured a partnership with Berify to expand its biometric technologies, Proof and Verified, in the Asia Pacific region. This collaboration is expected to enhance Berify's security measures and prevent identity fraud across multiple platforms. Notably, authID has reported a significant surge in revenue, reaching $249,000 in the third quarter, a substantial increase from the same period last year. The company's nine-month revenue total also rose to $687,000, up from $118,000 the previous year. However, due to delays in customer Go-Live dates and adjustments in volume expectations, authID adjusted its full-year revenue guidance to between $800,000 and $900,000. Despite these adjustments, the company has secured significant contracts, including a $10 million deal in India and a global retail technology firm contract. AuthID's Proof product usage grew 25x, processing nearly 800,000 Proofs in the third quarter, and Verified product user registrations saw a 42x increase to over 94,000 in the same period. The company reported a $1.1 million de-booking of booked annual recurring revenue due to Go-Live delays. Despite new contracts, the company's bARR projection remains at $9 million due to the timing of revenue recognition associated with customer ramp-up.
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