authID (AUID) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2025 increased to $0.30 million, up 87.5$0.16 million in Q1 2024[5] - Net loss for Q1 2025 was $4.3 million, or$0.40 per share, compared to a net loss of $3.1 million, or$0.32 per share in Q1 2024[5] - Adjusted EBITDA loss for Q1 2025 was $3.9 million, compared to a loss of$2.4 million in Q1 2024, driven by increased investments[9] - Net loss for the three months ended March 31, 2025, was $4,339,467, compared to a net loss of$3,057,577 for the same period in 2024, indicating an increase in losses of about 42%[33] - Net cash flows from operating activities for the three months ended March 31, 2025, were $(5,358,306), compared to$(2,947,528) for the same period in 2024, indicating a worsening cash flow situation[33] Operating Expenses - Operating expenses for Q1 2025 were $4.7 million, compared to$3.3 million in Q1 2024, primarily due to increased headcount investment in sales and R&D[7] - The company incurred stock-based compensation expenses of $454,339 for the three months ended March 31, 2025, down from$722,971 in the same period of 2024, a decrease of about 37.1%[33] Assets and Liabilities - Total current assets decreased from $10,074,427 as of December 31, 2024, to$5,601,296 as of March 31, 2025, representing a decline of approximately 44.8%[31] - Total liabilities remained stable at $2,339,901 as of March 31, 2025, compared to$2,956,188 as of December 31, 2024, reflecting a decrease of about 20.9%[31] - Stockholders' equity decreased from $11,515,189 as of December 31, 2024, to$7,629,853 as of March 31, 2025, a decline of approximately 33.5%[31] Revenue and Bookings - Remaining Performance Obligation (RPO) as of March 31, 2025, was $13.85 million, significantly up from$4.03 million as of March 31, 2024[10] - Gross Booked Annual Recurring Revenue (bARR) for Q1 2025 was $0.01 million, down from$0.10 million in Q1 2024[11] - The company expects to close multiple Fortune 500 and multinational customers in 2025, aiming for an $18 million bookings target[5] Capital and Financing - authID secured nearly$9 million in capital through two financing rounds to enhance its balance sheet and support growth initiatives[4] - The company repaid $245,000 in convertible notes during the three months ended March 31, 2025, indicating ongoing debt management efforts[33] - Cash paid for interest increased from$9,023 in the three months ended March 31, 2024, to $13,137 in the same period of 2025, an increase of approximately 45.5$215,237 as of December 31, 2024, to $1,011,448 as of March 31, 2025, representing an increase of approximately 369.5%[31]