authID Announces $2 Million Agreement with the EinStrong Foundation
Key Highlights
- ➤$2 million agreement combines a $1 million license and $1 million engineering commitment
- ➤EinStrong will use authID biometric technology to verify cash-transfer recipients
- ➤Additional funding supports biometric de-duplication functionality and engineering support
- ➤authID monthly cash operating expenses fell roughly 40% versus first quarter 2026
Expert Statements
Thomas Szoke, CEO of authID
“For over two years we have been proud participants in EinStrong’s mission to assist less fortunate, at-risk communities”
Thomas Szoke, CEO of authID
“Their commitment to supporting impoverished societies has inspired our designers and developers to further enhance our tech, allowing them to deter fraudsters and duplicates, and put precious funds in the hands of deserving individuals.”
Thomas Szoke, CEO of authID
“We are excited about our business outlook and the execution of this important agreement.”
Thomas Szoke, CEO of authID
“Having now reduced our monthly cash operating expenses by roughly 40% as compared to the first quarter 2026, we start the fourth quarter from a leaner base that gives us real leverage as the business grows.”
Thomas Szoke, CEO of authID
“We remain committed to disciplined execution and to pursuing the best path forward for authID, its customers and its shareholders.”
Steven Cho, Chief Operating Officer of EinStrong
“Over the last two years, our use of authID’s biometric platform has given our sponsors the confidence to fund our mission knowing that their donations will go only to people in need.”
Steven Cho, Chief Operating Officer of EinStrong
“By deepening our investment and partnership with authID, EinStrong will further extend its innovation and achieve even greater impact as we scale.”
EinStrong invests $2M in authID’s biometric identity technology to secure its mission to fight poverty and educational inequality
DENVER, Oct. 06, 2026 (GLOBE NEWSWIRE) -- authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced a $2 million technology licensing, services, and support agreement with the EinStrongCharitableFoundation, an organization dedicated to alleviating poverty and providing secure and transparent support to vulnerable groups of people around the world.
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