Ken Jisser, a director at authID Inc. (NASDAQ:AUID), recently purchased 8,000 shares of the company's common stock. The shares were bought at an average price of $6.48 per share, totaling $51,840. Following this transaction, Jisser now holds 51,475 shares directly. The purchase comes as the stock shows significant momentum, gaining nearly 10% over the past week, though InvestingPro analysis suggests the stock is trading above its Fair Value. This purchase reflects Jisser's continued investment in the company, which specializes in prepackaged software services. The micro-cap company, valued at $71 million, maintains a strong liquidity position with a current ratio of 6.97 and minimal debt. For deeper insights into AUID's financial health and additional analysis, check out the comprehensive research report available on InvestingPro, which features 7 more key investment tips for this stock.
In other recent news, authID, a provider of biometric identity verification solutions, reported strong revenue growth and a significant partnership. The company's third-quarter revenue surged to $249,000, a substantial increase from $43,000 in the same period last year. Furthermore, authID's nine-month revenue total rose to $687,000, up from $118,000 the previous year. However, due to delays in customer Go-Live dates and adjustments in volume expectations, authID adjusted its full-year revenue guidance to between $800,000 and $900,000.
In addition, authID has secured a partnership with Berify, a company specializing in authentication and consumer engagement, to implement authID's biometric technologies in the Asia Pacific region. This partnership is expected to enhance Berify's commitment to preventing identity fraud and increase authID's market presence.
Despite some challenges, such as a $1.1 million de-booking of booked annual recurring revenue due to Go-Live delays, authID has secured significant contracts, including a $10 million deal in India. The company's Proof product usage grew 25 times, processing nearly 800,000 Proofs in the third quarter, and Verified product user registrations saw a 42 times increase to over 94,000 in the same period. These are some of the recent developments in authID's journey.
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