AuthID offers a favorable peek at Q4

AuthID has published some non-GAAP financial data that paint its fourth quarter in a positive light. Complete GAAP information for the quarter ended December 31 will wait. Specifically, the biometric ID verification and authentication firm says it signed new customer contracts with gross booked annual recurring revenue valued at $1.7 million in the quarter. That is a 64 percent increase over the third quarter of the same year.

Many caveats come with the news. Comparing consecutive quarters can be misleading because some sales are seasonal. A big rise could be less important than a year-over-year rise. Or it could be significant is the preceding quarter usually is bigger than the following quarter. A complete non-GAAP year-over-year accounting is necessary.

And issuing non-GAAP numbers, while useful in analyzing factors that are unique or idiosyncratic to an industry, don’t match figures required that help investors gauge performance against the national business performance.

One of the new customers was an unnamed “international digital wallet” firm that serves a “network of banks, merchants and customers.”

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authID  |  biometrics  |  financial results  |  identity verification  |  stocks