Slide 1: Q1 2024 Results Conference Call
Know Who Is Behind The Device™ NASDAQ : AUID Q1 2024 Results Conference Call May 15, 2024 Patented, Secure, Compliant, Independently Tested, and Award Winning © 2024 authID Inc. All Rights Reserved.
Slide 2: Disclaimer & Forward Looking Statements
Disclaimer & Forward Looking Statements • This Presentation and information provided at a webcast or meeting at which it is presented (the “Presentation") has been prepared on the basis of information furnished by the management of authID Inc. (“authID” or the “Company”) and has not been independent
Slide 3: CFO Remarks
Know Who Is Behind The Device™ NASDAQ : AUID CFO Remarks © 2024 authID Inc. All Rights Reserved.
Slide 4: Q1 2024 Financial Results: Key GAAP Measures
Q1 2024 Financial Results Key GAAP Measures Operating Loss from Continuing Non-Cash & One-Time Net Loss Per Share Revenue Expenses* Operations* Severance Charges Continuing Operations $3.31M $0.56 $3.06M $0.77M $0.16M $0.32 $1.78M $1.02M $0.04M ($0.42M) Q1’23 20232 Q1’24 2024 Q1’23 2023 Q1’24 2024 Q
Slide 5: Q1 2024 Financial Results: Remaining Performance Obligation
Q1 2024 Financial Results GAAP - Remaining Performance Obligation Period Ending Change Q4 2023 Q1 2024 Deferred Revenue $0.13M $0.31M +$0.2M Additional non-cancelable contracted revenue $3.89M $3.73M ($0.2M) Total Remaining Performance Obligation (RPO) $4.03M $4.03M - • RPO represents deferred reven
Slide 6: bARR Metric Breakdown
bARR Metric Breakdown Non-GAAP Measure In 2023, we reported bARR to measure In 2024+, we will add detail the value of new customer bookings metrics below, supporting bARR Component Illustration using $3.0M bARR Bookings in 2023 cARR UAC Committed Annual Recurring Revenue Usage above Commitment Reven
Slide 7: Q1 2024 Financial Results: Non-GAAP Measures
Q1 2024 Financial Results Non-GAAP Measures* Adjusted EBITDA Net bARR ARR Booked Annual Loss Recurring Revenue** Annual Recurring Revenue 2023 cARR 2024 cARR $0.63M 2023 Est. UAC 2024 Est. UAC $2.39M $2.20M $0.10M $0.06M $0.15M $0.01M $0.04M Q1 2023 Q1’23 Q1 2024 Q1’24 Q1 2023 Q1’23 Q1 2024 Q1’24 Q1
Slide 8: 2024 Targets & Guidance
2024 Targets & Guidance 2024 Target / Guidance $9.0M Non-GAAP Booked ARR Net New Bookings Growth (bARR) 3x YoY GAAP Customer Contractual Remaining $12 – 13M Commitments Performance Obligation (RPO) 3x YoY GAAP Revenue Growth Revenue $1.4 – 1.6M 7x YoY -8- © 2024 authID Inc. All Rights Reserved.
Slide 9: Revenue Growth Stages
Revenue Growth Stages Progressing through our growth stages will build a sustainable, recurring revenue stream Financial Retention and Stage Bookings Revenue Commitments Expansion Secure new Establish contractual • Implement new Retain customer customer contracts commitments from customers and recog
Slide 10: CEO Remarks: Our Value
Mission Statement Eliminate NASDAQ : AUID Authentication Fraud & Deliver 100% Zero Trust Identity Protection Our Value Know Who Is CEO Remarks Behind The Device™ -10- © 2024 authID Inc. All Rights Reserved.
Slide 11: Q1'24 - Continued Market Momentum & Revenue Growth
Q1’24 - Continued Market Momentum & Revenue Growth Customers Live - $0.16M Revenue 2024 RPO Pipeline $0.04M Revenue $4M $9M/Q Revenue Guidance Q1 2023 Q2 Q3 Q4 2024 Q1 May New Identity ISO Renewal NATIONAL NOTARIAL CENTRALIZED VERIFICATION $1.4M - Fundraise Domain Talent $1.6M SYSTEM Nov New Fundrai
Slide 12: Progressing Our Go-To-Market Strategy
Progressing Our Go-To-Market Strategy 2023 Direct Sales Team Channel Partners 2024 Direct Sales Team -12- © 2024 authID Inc. All Rights Reserved.
Slide 13: 2024 Pipeline Generation
2024 Pipeline Generation FinServ & FinTech Hospitality Workforce Pharma Estimated Pipeline Value $21.3M Number Deals in Pipeline ($100K+) 52 Deals in Pipeline ($500K+) 12 Assumed Win-Rate of 42% X $21.3M = $9.0M bARR -13- © 2024 authID Inc. All Rights Reserved.
Slide 14: The Problem We Solve For
NASDAQ : AUID THE PROBLEM WE SOLVE FOR -14- © 2024 authID Inc. All Rights Reserved.
Slide 15: Many authentication methods exist
Many authentication methods exist … Authentication End User • Passwords Business • Passkeys • Device Biometrics • Authenticator OTP • SMS/Email OTP • YubiKeys Recovery • KBA/Out of Wallet • Call Center Training & Awareness • ID Document Verification • SMS/Email OTP … and yet, we continue to see frau
Slide 16: Existing security measures rely on assumptions, proxies, knowledge
Security Measure Vulnerability Existing security • MFA is outsourced to an external mobile telco provider SMS & Email and email provider. OTP • Reliant on unknown security practices. measures rely on • Vulnerable to SIM SWAP attacks and Email ATO • Vulnerable to Social Engineering assumptions , prox
Slide 17: Stolen IDs and Deepfake Detection
Stolen IDs and Deepfake Detection To Defeat Liveness, Fraudsters Use Injection with Stolen IDs and Deepfake Biometrics Create Deepfake designed to move Buy Stolen IDs or and emote create a Deepfake Easy-to-find online tools can Fraudster buys stolen IDs take single or clusters of from darkweb, or cr
Slide 18: 2024 Targets & Guidance
2024 Targets & Guidance NASDAQ : AUID Quarterly Pipeline bARR RPO Revenue $9M $9M $12 – 13M $1.4 – 1.6M 3x YoY 3x YoY 7x YoY growth growth growth -18- © 2024 authID Inc. All Rights Reserved.
Slide 19: Q&A
Know Who Is Behind The Device™ NASDAQ : AUID Q&A -19- © 2024 authID Inc. All Rights Reserved.