Michael Charles Thompson, a director at authID Inc. (NASDAQ:AUID), has recently acquired additional shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Thompson purchased 5,000 shares of common stock on December 10 at an average price of $6.4924 per share. This transaction amounts to a total purchase value of $32,462. The purchase comes as the stock has shown significant volatility, with InvestingPro data showing a notable 14.59% return over the past week.
Following this acquisition, Thompson's total direct ownership in authID Inc. stands at 83,677 shares. The filing also provides insight into Thompson's holdings of stock options, which include various exercise prices and expiration dates. The recent transaction primarily highlights his increased stake in the $67.71M market cap company, which maintains strong liquidity with a current ratio of 6.97. InvestingPro subscribers can access additional insights, including 6 more ProTips and a comprehensive analysis of authID's financial health and valuation metrics in the Pro Research Report.
In other recent news, authID, a provider of biometric identity verification solutions, has reported a notable surge in its revenue. The company's third-quarter revenue rose to $249,000, a significant increase from $43,000 in the same period last year. The nine-month revenue total also rose to $687,000, up from $118,000 the previous year. Despite these positive developments, authID adjusted its full-year revenue guidance to between $800,000 and $900,000 due to delays in customer Go-Live dates and adjustments in volume expectations.
In addition to its financial performance, authID has secured a new partnership with Berify, a company specializing in authentication and consumer engagement. Berify will implement authID's biometric technologies for user onboarding and authentication in the Asia Pacific region. This partnership is expected to enhance Berify's commitment to preventing identity fraud and expand authID's market presence.
The company has also secured significant contracts, including a $10 million deal in India and a global retail technology firm contract. However, authID reported a $1.1 million de-booking of booked annual recurring revenue due to Go-Live delays. These are the recent developments in authID's business journey.
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