authID Inc. reported its financial and operating results for the third quarter ended September 30, 2024, on November 7, 2024. Total revenue for the quarter increased to $0.25 million, a significant rise from $0.04 million in the same period a year ago. Operating expenses remained flat at $3.8 million compared to the prior year's third quarter.
The company reported a loss from continuing operations of $3.6 million for the three months ended September 30, 2024, which was consistent with the net loss from the prior year. Loss per share for the quarter improved to $0.38, compared with $0.46 a year ago. Adjusted EBITDA loss was $3.1 million, matching the figure from the third quarter of 2023.
Remaining Performance Obligation (RPO) as of September 30, 2024, stood at $14.2 million, a substantial increase from $4.0 million as of September 30, 2023. The gross and net Booked Annual Recurring Revenue (bARR) signed in Q3 2024 was $10.0 million, up from $0.0 million in the comparable period of 2023, driven by a major agreement in India.
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