authID Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
AUID$0.19-12.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-14.
0001213900-25-076641
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-12.
0001213900-25-109217
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 56 previous paragraphs and 60 current paragraphs.
43 unchanged; 12 reworded; 5 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 19 previous and 22 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (5)
Current report
Identity Exchange (IDXTM) Platform
Current report
authID’s Identity Exchange (IDX) is a next-generation platform purpose-built to allow authorized personnel to create or claim a central credential that can be leveraged across multiple subsidiaries of a large enterprise, simplifying and securing the management of workforce identities. IDX modernizes identity management with biometric-bound, passwordless, interoperable and reusable credentials that stop phishing attacks, ensuring only verified users can access sensitive systems and data. IDX is the first enterprise platform built on the Accountable Digital Identity Association (ADI Association) specification, ensuring it is aligned with global interoperability and data sovereignty standards.
Current report
Three and Nine Months Ended September 30, 2025 and September 30, 2024
Current report
Interest income
Current report
Interest income includes bank interest earned on the Company’s cash balances. Interest income was flat during the three months ended September 30, 2025 compared to the three ended September 30, 2024. During the nine months ended September 30, 2025, interest income increased $0.1 million compared to the nine months ended September 30, 2024.
Removed paragraphs (1)
Previous report
Three and Six Months Ended June 30, 2025 and June 30, 2024 – Continuing Operations
Reworded paragraphs (12)
Previous wording
As of June 30, 2025, the Company had an accumulated deficit of approximately $182.5 million. For the six months ended June 30, 2025, the Company earned revenue of approximately $1.7 million, used approximately $8.4 million to fund its operations, and incurred a net loss of approximately $8.7 million.
Current wording
As of September 30, 2025, the Company had an accumulated deficit of approximately $187.7 million. For the nine months ended September 30, 2025, the Company earned net revenue of approximately $1.6 million, used approximately $11.8 million to fund its operations, and incurred a net loss of approximately $13.9 million.
Previous wording
During the three and six months ended June 30, 2025, the Company’s revenues were approximately $1.4 million and $1.7 million, respectively, compared to approximately $0.3 million and $0.4 million, respectively, in the three and six months ended June 30, 2024, principally due to the recognition of revenue from new customer contracts.
Current wording
During the three and nine months ended September 30, 2025, the Company’s revenues, net of discounts and concessions, were approximately a negative $0.1 million and positive $1.6 million, respectively, compared to approximately $0.2 million and $0.7 million, respectively, in the three and nine months ended September 30, 2024. The decline in net revenue over the three months ended September 30, 2025 is principally driven by the following two customer contracts:
Previous wording
During the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, general and administrative expense increased by approximately $1.6 million and $2.2 million, respectively. The increase was driven by increases in employee related expenses, shares issued to management advisors, as well as approximately $0.8 million in provision for estimated credit loss expense related to certain customer contracts.
Current wording
During the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, general and administrative expense increased by approximately $1.2 million and $3.5 million, respectively. The increase was driven by increases in employee related expenses, shares issued to management advisors, as well as credit loss expense related to certain customer contracts of approximately $0.0 million and $0.8 million, respectively.
Previous wording
During the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024, research and development expenses increased by approximately $0.6 million and $1.4 million, respectively. The increase was due to continued investment in employees and contractors to deliver required product capabilities and performance for existing customers and sales prospects.
Current wording
During the three and nine months ended September 30, 2025 compared to the three and nine months ended September 30, 2024, research and development expenses increased by approximately $0.2 million and $1.5 million, respectively. The increase was due to continued investment in employees and contractors to deliver required product capabilities and performance for existing customers and sales prospects.
Previous wording
Depreciation and amortization expenses remained flat during the three and six months ended June 30, 2025 compared to June 30, 2024.
Current wording
Depreciation and amortization expenses remained flat during the three and nine months ended September 30, 2025 compared to September 30, 2024.
Previous wording
Interest expense includes interest expense, debt issuance and discount amortization expense. Interest expense remained flat during the three and six months ended June 30, 2025 compared to June 30, 2024.
Current wording
Interest expense includes interest expense, debt issuance and discount amortization expense. Interest expense remained flat during the three and nine months ended September 30, 2025 compared to September 30, 2024.
Previous wording
The Company has approximately $8.3 million of cash on hand and approximately $8.7 million of working capital as of June 30, 2025.
Current wording
The Company has approximately $4.9 million of cash on hand and approximately $4.6 million of working capital as of September 30, 2025.
Previous wording
Cash used in operating activities was approximately $8.4 million and $5.7 million in the six months ended June 30, 2025 and 2024, respectively.
Current wording
Cash used in operating activities was approximately $11.8 million and $8.5 million in the nine months ended September 30, 2025 and 2024, respectively.
Previous wording
Cash used in investing activities for the six months ended June 30, 2025 was approximately $2,000, compared with $16,000 for six months ended June 30, 2024, for the payment of patent costs.
Current wording
Cash used in investing activities for the nine months ended September 30, 2025 was approximately $2,000, compared with $18,000 for nine months ended September 30, 2024, for the payment of patent costs and purchases of intangible assets.
Previous wording
Cash provided by financing activities in the six months ended June 30, 2025 consisted of approximately $8.2 million in proceeds from the sale of common stock, net of offering costs.
Current wording
Cash provided by financing activities in the nine months ended September 30, 2025 consisted of approximately $8.2 million in proceeds from the sale of common stock, net of offering costs.
Previous wording
Cash provided by financing activities in the six months ended June 30, 2024 consisted of approximately $10.0 million in proceeds from the sale of common stock, net of offering costs.
Current wording
Cash provided by financing activities in the nine months ended September 30, 2024 consisted of approximately $10.0 million in proceeds from the sale of common stock, net of offering costs.
Previous wording
In 2025, the Company will need to raise additional funds to support its operations and investments as it seeks to create a sustainable organization. Our growth-oriented business plan to offer products to our customers will require continued capital investment and there is no guarantee that such financing will be available, or available on acceptable terms.
Current wording
The Company will need to raise additional funds to support its operations and investments as it seeks to create a sustainable organization. Our growth-oriented business plan to offer products to our customers will require continued capital investment and there is no guarantee that such financing will be available, or available on acceptable terms.