authID Reports Second Quarter 2026 Financial Results and Announces Evaluation of Strategic and Financing Alternatives (Form 8-K)

authID Reports Second Quarter 2026 Financial Results and Announces Evaluation of Strategic and Financing Alternatives

DENVER, Aug. 14, 2026 (GLOBE NEWSWIRE) -- authID^® (Nasdaq: AUID) ("authID" or the "Company"), a leading provider of biometric identity verification and authentication solutions, today announced financial results for the second quarter ended June 30, 2026, and announced that its Board of Directors is evaluating a range of strategic and financing alternatives to maximize shareholder value.

Second Quarter 2026

The Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, has been filed with the Securities and Exchange Commission and is available on the SEC's website at www.sec.gov and on the Investor Relations section of the Company's website at https://investors.authid.ai/.

During the quarter and subsequently, the Company has continued to sign and onboard customers and partners, as indicated in recent announcements, as well as investing significant resources in an extensive POC for a major financial institution. This POC effort focuses on a range of consumer use cases and technology requirements. These include hosting, model governance, scalability and performance, and user experience. We are also in the final stage of a contract negotiation with a major manufacturer for workforce verification. They have had problems with remote workers who weren't who they claimed to be.

In addition, a critical workforce use case on which we are focused is account recovery and reset through the call center. Solving this vulnerability has been a major objective for our customers due to numerous cases of social engineering and infiltration through the call center, affecting many organizations in retail, healthcare, and gaming.

Call center compromise has literally crippled some organizations, disrupting their ability to deliver services, including critical care. It has shut down supply chains, shut down payment systems, and caused losses in the hundreds of millions. We not only provide identity assurance, but we do it in a way that makes the entire verification process faster and more efficient for both the caller and the call center support teams. Our integration with ServiceNow and Zendesk is particularly relevant to our solution, which enables handing off of a verified identity to the service desk platform.

Finally, our channel partners continue to bring us excellent opportunities. We have upcoming workforce verification POCs planned for an athletic wear retailer and a medical manufacturer.

Evaluation of Strategic and Financing Alternatives

The Company's Board of Directors is evaluating a range of strategic and financing alternatives to enhance shareholder value and support the Company's long-term growth. These alternatives may include, among others, a strategic partnership or investment, additional debt or equity financing, or a sale or merger of the Company. The goal is to identify the path that best positions authID for success and delivers the strongest possible outcome for all stakeholders.

The Company has not set a definitive timeline for completion of this process and does not intend to disclose further developments unless and until its Board of Directors has approved a specific transaction or otherwise determined that further disclosure is appropriate or required by law. There can be no assurance that this process will result in any transaction or other strategic outcome.

Conference Call

In light of the Company's ongoing review of strategic and financing alternatives, the Company has determined not to hold a conference call to discuss its second quarter results at this time.