authID Expands OEM Partnership with Majorkey Technologies
AUID is trading near its 52-week low of $0.721 (11% above the low) on light trading volume (0.3× avg).
Summary
authID has expanded its OEM partnership with Majorkey Technologies, adding a new distribution channel for its biometric identity verification solutions. The expanded partnership embeds authID's Verified and PrivacyKey products across MajorKey's identity security portfolio. This follows a series of recent partnerships, including Rubidex and Trinsic, as the company works to scale revenue amid a going concern warning and a tight cash position. The deal could help drive bookings growth, but financial terms are undisclosed, making the immediate revenue impact unclear. With shares trading near $0.80 and a market cap of just $13 million, any new revenue stream is material. The company's Q1 revenue was only $0.5 million, so even modest contract wins can move the needle.
At the time of this announcement, AUID was trading at $0.80 on NASDAQ in the Technology sector, with a market capitalization of approximately $13.3M. The 52-week trading range was $0.72 to $4.70. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.