authID launches IDX platform for passwordless identity verification

DENVER - authID (NASDAQ:AUID), a technology company currently trading near its 52-week low of $3.57, unveiled its new Identity Exchange (IDX) platform on Thursday, designed to address gaps in enterprise identity and access management through biometric-bound, passwordless credentials. According to InvestingPro data, the company has seen remarkable revenue growth of 231% in the last twelve months, though it remains in investment phase.

Developed in partnership with NESIC, a subsidiary of NEC Corporation, the platform enables organizations to create centralized credentials usable across multiple subsidiaries, aiming to eliminate ghost accounts and shared credentials while automating onboarding processes. The company maintains a strong liquidity position with a current ratio of 2.39, indicating sufficient resources to fund its growth initiatives.

The IDX platform is built on the Accountable Digital Identity Association specification, now part of the Secure Identity Alliance, and incorporates privacy-preserving biometrics through authID’s PrivacyKey technology. According to the company, this approach authenticates users without storing sensitive biometric data, supporting compliance with regulations like GDPR and HIPAA.

"IDX helps redefine how identity verification should work in a Zero Trust world: unphishable, privacy-first, frictionless, and built to secure every identity across the extended enterprise," said Rhon Daguro, CEO of authID.

The platform combines authID’s PrivacyKey biometric protocol with FIDO2 authentication standards and integrates with identity management platforms including Microsoft Entra ID, Okta, and Ping Identity.

Initial deployment use cases include enterprise workforce authentication, contractor onboarding, supply chain security, government credentials, and call center authentication.

Osamu Kikuchi, EVP at NEC Networks & System Integration Corporation, noted that NESIC and authID "share a vision for a more secure and connected digital future where every identity is verified, protected, and interoperable."

The announcement comes as organizations seek solutions to strengthen security posture while reducing friction in authentication processes, according to the press release statement. While the stock has faced significant headwinds, declining over 61% in the past year, InvestingPro subscribers can access 12 additional investment tips and a comprehensive Pro Research Report, offering deeper insights into authID’s growth trajectory and market position.

In other recent news, Authid Inc. reported its financial results for the first quarter of 2025, highlighting a notable increase in revenue. However, the company also experienced a widening net loss compared to the same period last year. This mixed financial performance was discussed during their recent earnings call. Meanwhile, Dominari Holdings Inc. has achieved significant milestones through its subsidiary, Dominari Securities. The investment bank has raised approximately $287.5 million in capital and executed over 35 transactions, including more than 19 private placements and IPOs in U.S. markets. Dominari Securities has also played a pivotal role in assisting Unusual Machines, Inc., a company in the American drone industry, with their IPO and a subsequent $40 million capital raise. These developments reflect the ongoing strategic efforts and financial activities of both companies.

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