authID Continues Growth Momentum With Strong Q4 Sales; Booked Annual Recurring Revenue Preliminarily Valued At $1.7M During Q4 2023; Continues The Momentum Seen Throughout The Entirety Of 2023, With Q4 Bookings Representing A 64% Increase Over The Co's Q3
Portfolio Pulse from Benzinga Newsdesk
authID (NASDAQ:AUID) reported strong Q4 sales with Booked Annual Recurring Revenue (bARR) of $1.7 million, a 64% increase from Q3. The company's biometric identity platform has attracted various customers, including an international digital wallet provider and a leading entertainment business software provider. CEO Rhon Daguro highlighted the company's ability to deliver value and the effectiveness of their go-to-market efforts. authID's platform offers fast, accurate identity verification and authentication, aiming to prevent fraud and account takeovers.
January 04, 2024 | 1:08 pm
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authID reported a significant increase in Q4 sales with $1.7M in bARR, indicating strong growth and market adoption of its biometric identity solutions. The company's success in securing new customers and partnerships suggests positive momentum.
The reported increase in bARR and the successful acquisition of new customers are strong indicators of growth and market confidence in authID's offerings. This positive news is likely to be well-received by investors and could lead to a short-term increase in stock price, reflecting the company's improved financial outlook and potential for future revenue growth.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100