Authid Inc's stock surged by 22.22% in pre-market trading as it crossed above the 5-day SMA, reflecting strong investor interest.
The company has secured a partnership with a global personal care retailer generating over $6 billion in annual sales, leveraging its biometric identity verification technology alongside MajorKey's identity security solutions. This collaboration aims to enhance employee and contractor identity verification, significantly mitigating the risk of hiring fraud amid the rise of AI-generated fake identities. The solution combines selfie and document verification to protect sensitive system access, optimizing user experience and ensuring efficient verification processes.
This contract win positions authID favorably in the expanding digital authentication market, projected to exceed $20 billion by 2032, and highlights its critical role in modern hiring and access workflows.
authID Inc. is a provider of biometric identity verification and authentication solutions. The Company enables enterprises Know Who’s Behind the Device for every customer or employee login and transaction. Through its integrated, patented, biometric identity platform, the Company verifies a user’s identity, eliminating any assumption of who is behind a device and preventing cybercriminals from taking over accounts. The Company combines digital onboarding, biometric passwordless authentication and account recovery, with a fast, accurate, user-friendly experience delivering identity verification in 700ms. Its cloud-based platform offers services such as Biometric Identity Verification-Proof, Biometric Identity Authentication-Verified, PrivacyKey Privacy Preserving Biometrics, and Account/Access Recovery. Biometric identity verification establishes the trusted identity of users based on a variety of ground truth sources, including government-issued identity documents.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
