Like **Okta** but specializing in **biometric identity verification and authentication**.

The **Stripe** for digital identity and authentication.

A combination of **Onfido** (for initial identity verification) and **Okta** (for ongoing authentication and access management).

• VERIFIED: A multi-factor authentication solution for secure identity verification and transaction consent.
• PROOF: A service for establishing trusted user identities through verification of electronic IDs, national registries, and international databases.
• AUTHENTIFID: Provides FIDO2 authentication for secure, passwordless login and transaction authentication linked to a trusted identity.
• IDENTITY – PORTAL: An enterprise portal designed for customer enrollment and identity management.
• SEARCH: Biometric matching software used for desktop fingerprint capture and image processing.
• CARDPLUS: Products offering secure plastic identity credentials and loyalty cards.
• TRANXA: A multi-application payment gateway and switch facilitating online and physical merchant payment solutions.
• Unattended Kiosk System: An application and backend management system integrated with transit ticketing for unattended operations.

Rhon Daguro, Chief Executive Officer & Director

Rhon Daguro brings over 20 years of sales, marketing, technology, and venture capital experience, having successfully built multiple profitable software and professional services firms. He previously served as Chief Revenue Officer at Socure Inc., where he was instrumental in helping the company achieve "unicorn" status by growing its annual recurring revenue to over $100 million. His background includes identity management roles at Oracle and building the identity management team at Persistent as General Manager.

Edward C. Sellitto, Chief Financial Officer

Edward Sellitto is a seasoned financial executive with over 15 years of experience in revenue optimization and financial operations for high-growth B2B and SaaS organizations. Prior to joining AuthID, he served as Vice President, Revenue Operations at Zero Hash. His career also includes roles at Sprinklr (Head of Go-To-Market Financial Planning & Analysis), Socure (Vice President of Revenue Operations), American Express, and NewsCorp/Dow Jones. Mr. Sellitto holds an MBA in corporate finance and strategy from the Stern School of Business at New York University.

Thomas Robert Szoke, Chief Technology Officer & Founder

Thomas Robert Szoke is a founder of AuthID and leads the core technology development of its patented biometric platform. He possesses over 25 years of experience in engineering, global sales, and operations management. Previously, he held positions as Chief Solutions Architect of AuthID, and prior to that, President and CEO of the company, and Chief Operating Officer of Innovation In Motion Inc. Mr. Szoke is also the inventor of IIM Global Corps HDR Intelligent Accessory product lines and spent over 20 years in various sales and management positions with Motorola, Inc.

Erick Soto, Chief Product Officer

Erick Soto has over 15 years of experience in product management, with a strong focus on SaaS, financial services, identity management, and fraud prevention. He has overseen the development of identity and payments solutions at various companies, including Socure, BBVA, Oxygen, and Capital One. Mr. Soto also serves as a cybersecurity adviser.

Dale Daguro, VP of Solutions

Dale Daguro has over 15 years of experience in sales and solutions architecture within the Identity & Technology Solutions sector. His previous roles include Director, Solutions Consulting at Socure, Senior Solutions Architect at Persistent Systems and Oracle, Solutions Architect, MCS Ecommerce, and Database Analyst at Experian and Aon/Hewitt Assoc.

1. Financial Distress and Profitability Challenges: AuthID faces significant financial challenges, as evidenced by declining revenue, consistently negative operating and net margins, and ongoing net losses. The company's Altman Z-Score indicates a high risk of financial distress. Its 2025 Booked Annual Recurring Revenue (bARR) target was substantially reduced, and the company reported negative net revenue in Q3 2025, highlighting severe profitability issues.
2. Sales Execution and Market Adoption: The company struggles with converting sales opportunities into consistent revenue, particularly with large enterprise customers. AuthID has experienced longer enterprise sales cycles and underperformance in major contracts, leading to revenue concessions and payment delays from some clients, which directly impacts its financial performance and growth trajectory.
3. Intense Competition and Rapid Technological Change: Operating in the fast-evolving identity verification and biometric solutions market, AuthID is exposed to sector-specific risks such as rapid technological advancements and the constant threat of cybersecurity breaches. The company faces significant competition from other players in the computer software industry, necessitating continuous innovation to maintain relevance and competitive advantage.

AuthID (AUID) faces the following clear emerging threats:

• Decentralized Identity (DID) / Self-Sovereign Identity (SSI): This emerging paradigm aims to give individuals complete control over their digital identities, storing verifiable credentials on their own devices rather than relying on centralized third-party platforms. Should DID/SSI gain widespread adoption, the need for AuthID's centralized Identity as a Service (IDaaS) platform, which acts as an intermediary for identity verification and authentication, could diminish significantly as users directly manage and selectively present their verified attributes to service providers.
• Widespread Adoption of Government-issued Digital IDs / Mobile IDs: Governments worldwide are increasingly developing and implementing digital versions of official identification documents (e.g., mobile driver's licenses, national ID cards stored on smartphones). If these digital IDs become universally accepted and legally recognized as the primary source of identity, it could directly impact AuthID's "CARDPLUS" offering for physical identity credentials and potentially reduce the reliance on third-party services for identity verification and proofing for certain use cases, as the government itself would provide the verifiable digital identity.

Addressable Markets for AuthID's Products and Services:

• Identity as a Service (IDaaS) Platform: The global Identity as a Service (IDaaS) market was valued at approximately USD 8.75 billion in 2024 and is projected to grow to USD 65.19 billion by 2033, exhibiting a CAGR of 25.0% during the forecast period. Another estimate places the global IDaaS market at USD 9.68 billion in 2025, expanding to USD 73.68 billion by 2034 with a CAGR of 25.30%. North America is a leading region in this market, holding about 36.67% share in 2025, valued at USD 3.55 billion.
• Multi-factor Authentication (VERIFIED) and FIDO2 Authentication (AUTHENTIFID): AuthID's multi-factor authentication and FIDO2 authentication solutions address a significant global market. The global Multi-factor Authentication (MFA) market was valued at USD 20.22 billion in 2024 and is expected to reach USD 78.09 billion by 2033, growing at a CAGR of 16.2%. Another report estimates the global MFA market at USD 21.46 billion in 2025, projected to grow to USD 69.79 billion by 2034. For FIDO authentication specifically, the global market size was valued at approximately USD 2.30 billion in 2024 and is projected to reach USD 12.53 billion by 2035, with a CAGR of 16.7%. North America held the largest revenue share in the FIDO authentication market in 2024, at 37.4%. The global passwordless authentication market, which includes FIDO solutions, was valued at USD 18.82 billion in 2024 and is estimated to reach USD 60.34 billion by 2032.
• Identity Verification (PROOF): AuthID's identity verification solutions contribute to the broader digital identity and identity verification markets. The global identity verification market generated a revenue of USD 11.49 billion in 2023 and is anticipated to reach USD 33.93 billion by 2030, with a CAGR of 16.7%. The global digital identity solutions market size is projected to grow from USD 44.20 billion in 2025 to USD 132.14 billion by 2031. North America was the largest revenue-generating market for identity verification in 2023.
• Biometric Matching Software (SEARCH): The company's biometric solutions are part of the growing biometrics market. The global biometric authentication and identification market size was valued at USD 6.57 billion in 2024 and is expected to grow to USD 26.38 billion by 2033. More broadly, the global biometrics market size was valued at USD 50.08 billion in 2024 and is predicted to increase to approximately USD 307.24 billion by 2034. The U.S. biometrics market alone was valued at USD 12.02 billion in 2024 and is projected to reach around USD 75.39 billion by 2034.
• Payment Processing Solutions (TRANXA): AuthID's payment processing solutions operate within a substantial global market. The global payment processing solutions market was valued at USD 66.8 billion in 2024 and is projected to grow at a CAGR of 11.7% to USD 198.9 billion by 2034. Another estimate states the global payment processing solutions market was valued at USD 173.38 billion in 2025 and is projected to hit around USD 1051.93 billion by 2035. North America dominated this market in 2025 with the largest market share of 47%.
• Financial Crime Compliance: AuthID also addresses the financial crime compliance market. This global market was valued at USD 26.52 billion in 2025 and is projected to exceed USD 69 billion by 2034.
• Secure Plastic Identity Credentials (CARDPLUS): null

AuthID (NASDAQ: AUID) is focusing on several key areas to drive its future revenue growth over the next 2-3 years, primarily centered around expanding its customer base, leveraging strategic partnerships, and increasing adoption of its innovative biometric identity solutions.

1. Expansion with Enterprise Clients: AuthID is actively targeting and pursuing large enterprise and Fortune 500 clients, referred to as "FAT 100" accounts. The company has engaged in contract negotiations and signed trial agreements with such prospects, expecting these significant deals to close and materially contribute to revenue as these large customers go live and ramp up their usage.
2. Strategic Partnerships: Key partnerships are a cornerstone of AuthID's growth strategy. Collaborations with companies like NEC for the Identity Exchange (IDX), Prove Identity, MajorKey, and Section 2, Inc. are crucial for expanding AuthID's market reach and technological integration. These alliances are expected to drive growth by opening doors to new customer segments, such as financial institutions through fraud platforms.
3. Growth of Recently Launched and Enhanced Products: AuthID continues to innovate with products such as PrivacyKey and the Identity Exchange (IDX), alongside its focus on solutions compliant with the ADIA standard for reusable digital identities. These offerings aim to provide advanced biometric authentication and AI governance capabilities, attracting new clients and increasing the adoption rate of their secure identity platform.
4. Customer Retention and Expansion: A significant driver involves increasing focus on retaining existing customers and expanding the scope of their services with these clients as their contracts mature. By adding tangible value to current customer relationships, AuthID aims to broaden its revenue streams from its established base.
5. Conversion of Booked Annual Recurring Revenue (bARR) and Remaining Performance Obligation (RPO): AuthID maintains a focus on converting its substantial booked annual recurring revenue (bARR) and remaining performance obligation (RPO) into recognized revenue. These metrics represent contracted revenue that is expected to be realized over the typical three-year contract terms as customers transition from proof-of-concept trials to paid pilots and full production.

Share Issuance

• AuthID completed an Initial Public Offering (IPO) on August 24, 2021, raising $10 million by issuing 1,400,000 shares at $7.00 per share.
• On April 1, 2025, AuthID closed a registered offering, issuing 1,361,120 shares of common stock at $4.50 per share and pre-funded warrants for 450,000 shares at $4.4999 each, generating approximately $8.15 million in gross proceeds for working capital and general corporate purposes.
• In May 2025, AuthID conducted a registered direct offering for approximately 373,060 shares of common stock at $5.60 per share, expecting to raise around $2.1 million in gross proceeds for working capital and general corporate purposes. Additionally, in November 2025, the company completed a registered direct offering, selling approximately 2,688,747 shares of common stock and/or pre-funded warrants, which generated approximately $3,675,000 in gross proceeds for working capital and general corporate purposes.

Inbound Investments

• AuthID raised $10 million through its Initial Public Offering (IPO) on August 24, 2021.
• The company's cash position was bolstered by $8.5 million in net proceeds from capital raises in April and May 2025.
• Between November 2023 and November 2025, institutional investors collectively purchased 961,643 shares of AUID stock, representing approximately $4.87 million in transactions.