authID (AUID) Registration Filing summary

Company overview and business model

• Provides a cloud-based, biometric identity platform for enterprises to verify and authenticate users for logins and transactions, focusing on eliminating account takeovers and fraud.

• Platform integrates digital onboarding, passwordless authentication, and account recovery, using facial biometrics and government-issued ID verification.

• Offers device-agnostic solutions with rapid, sub-second identity verification and broad document coverage.

• Key products include Proof (identity verification), Verified (biometric authentication), and PrivacyKey (privacy-first authentication with no biometric storage).

• Targets enterprises seeking secure, seamless user experiences and compliance in digital ecosystems.

Market opportunity and competitive landscape

• Market trends include rising identity theft, fraud, and account takeover risks due to digital transformation and AI-assisted fraud.

• Growth drivers include increased electronic payments, remote work, and demand for frictionless, secure transactions.

• Plans to expand through existing customer growth, new customer acquisition, channel partners, and innovation.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including potential acquisitions, strategic investments, working capital, and technology development.

• Management retains broad discretion over allocation; no current commitments for acquisitions or investments.

• Proceeds may be temporarily invested in capital preservation instruments or held as cash.