authID Achieves 12x Year Over Year Growth 2x Faster Than Planned - Seite 2

authID expects to broaden its ability to provide fast, accurate, and user-friendly solutions to fight authentication fraud for both consumers and workforce employees by identifying who is the living and breathing person behind the device for many authentication use cases. By simply using a camera and processing a biometric transaction in 700 milliseconds, authID delivers fast, frictionless, and precise identity authentication that far outshines the competition, who at best offer speeds of 4 to 9 seconds, as tested by customers.

Continued Daguro, “We greatly appreciate the patience and guidance of our investors who put their faith in our ability to leverage what they’d already built and gave us the opportunity to succeed. I believe the work done in 2023 puts us on a path to reward that trust by delivering an innovative product roadmap, an expanded sales pipeline, and bookings leading to revenue that allow us to realize our previously stated target of $9 million in bARR for 2024, a triple growth target over 2023.”

It should be noted the Company will issue financial results for the fourth quarter and full year of 2023 with its Annual Report for the year in March.

For further information on how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks, and account takeover, schedule a demo.

Non-GAAP Financial Information

The Company provides certain non-GAAP financial measures in this statement. These non-GAAP key business indicators, which include bARR and ARR, should not be considered replacements for and should be read in conjunction with the GAAP financial measures for the period, which will be published in due course with our Annual Report on Form 10-K for the period ended December 31, 2023. Please note that the definitions of these non-GAAP financial measures have changed as compared to the non-GAAP financial measures reported in previous periods. Management believes that bARR , when viewed with our results under GAAP, provides useful information about our period-over-period activities. bARR is presented because management believes it provides additional information with respect to the trends in the performance of our fundamental business activities. We also rely on bARR as one of a number of primary measures to review and assess the sales performance of our Company and our management team in connection with our executive compensation. In particular bARR is a forward-looking measure and does not give any indication of the likely results of operations of the Company for the period just ended, nor of the GAAP financial measures which will be reported in Form 10-K for the quarter and year just ended.