DENVER—Thomas Szoke, Chief Technology Officer of authID Inc. (NASDAQ:AUID), recently sold a portion of his holdings in the company, according to a filing with the Securities and Exchange Commission. The transactions, which took place on December 10 and 11, involved the sale of 2,000 shares of common stock at prices ranging from $6.30 to $6.34 per share, totaling $12,640. The sale comes as the stock shows significant momentum, with a 14.8% return over the past week, though trading at current levels suggests the stock is slightly overvalued according to InvestingPro analysis.
Following these transactions, Szoke holds 15,518 shares directly. Additionally, he has indirect ownership of 12,500 shares through his wife, Ginta Ozola-Szoke. The filing also reveals Szoke's substantial holdings in stock options, which include various exercise prices and expiration dates. With a market capitalization of approximately $70 million and notable stock price volatility, investors seeking deeper insights can access comprehensive analysis and 6 additional key tips through InvestingPro's detailed research reports.
These transactions are part of routine insider trading activities that are disclosed to the SEC and provide insight into the ownership changes of company insiders. The company maintains strong liquidity with a current ratio of 7.0 and holds more cash than debt on its balance sheet.
In other recent news, biometric identity verification solutions provider authID has been making significant strides in its financial journey. The company reported a surge in its third-quarter revenue, reaching $249,000, a substantial increase from $43,000 in the same period last year. The company's nine-month revenue total also rose to $687,000, up from $118,000 the previous year, reflecting strong revenue growth. Despite these positive developments, authID adjusted its full-year revenue guidance to between $800,000 and $900,000 due to delays in customer Go-Live dates and adjustments in volume expectations.
In other developments, authID announced a new partnership with Berify, a company specializing in authentication and consumer engagement. This partnership aims to integrate authID's biometric technologies into Berify's platform for enterprise use cases in the Asia Pacific region, a move expected to bolster Berify's commitment to preventing identity fraud. According to InvestingPro data, authID has demonstrated strong revenue growth over the last twelve months.
Furthermore, authID has secured significant contracts, including a $10 million deal in India and a global retail technology firm contract. The company's Proof product usage grew 25x, processing nearly 800,000 Proofs in the third quarter, and Verified product user registrations saw a 42x increase to over 94,000 in the same period. These are the recent developments in authID's financial journey.
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