authID Inc. Reports Financial and Operating Results for the Fiscal Year Ended December 31, 2023
DENVER, March 20, 2024 (GLOBE NEWSWIRE) -- authID Inc. (Nasdaq: AUID), a leading provider of innovative biometric identity verification and authentication solutions, today reported financial and operating results for the full year ended December 31, 2023.
- The reduction was primarily attributed to revenue from a legacy authentication product that was discontinued in April 2022.
- Operating expenses for the twelve-month period in 2023 declined by 52% to $10.9 million, compared with $22.8 million for 2022.
- Adjusted EBITDA loss (Non-GAAP, as defined below) for Fiscal Year 2023 improved to $8.7 million, compared with $11.4 million, for 2022.
- The Company will host a webcast today at 5:30 p.m. EDT to discuss the financial results and provide a corporate update.