Authid Inc (AUID) 2024 Q4 法說會逐字稿

Good afternoon everyone and thank you for your participation in today's conference call to discuss authID fourth quarter and full year 2024 financial results.

大家下午好，感謝您參加今天的電話會議，討論 authID 第四季度和 2024 年全年財務業績。

I would now like to turn the call over to authID General Counsel, Graham Arad. Graham, please go ahead.

現在我想將電話轉給 authID 總法律顧問 Graham Arad。格雷厄姆，請繼續。

Thank you operator, greetings and good afternoon. This is Graham Arad, General Counsel at authID. Welcome to the authID fourth quarter and full year 2024 earnings conference call. As a reminder, this conference is being recorded.

謝謝接線員，您好，下午好。我是 authID 的總法律顧問 Graham Arad。歡迎參加 authID 2024 年第四季和全年財報電話會議。提醒一下，本次會議正在錄製中。

With me on today's call are our CEO, Rhon Daguro; our CFO, Ed Sellitto; and our Founder and CTO, Tom Szoke. By now, you should have access to today's press release announcing our fiscal year 2024 results. If you have not received this, the release can be found on our website at www.authid.ai under the Investor Relations section.

和我一起參加今天電話會議的還有我們的執行長 Rhon Daguro；我們的財務長 Ed Sellitto；以及我們的創辦人兼首席技術長 Tom Szoke。現在，您應該可以閱讀今天的新聞稿，其中宣布了我們 2024 財年的業績。如果您尚未收到此新聞稿，您可以在我們的網站 www.authid.ai 的「投資者關係」部分找到該新聞稿。

Throughout this conference call, we will be presenting certain non-GAAP financial information. This information is not calculated in accordance with GAAP and may be calculated differently from other companies similarly titled non-GAAP information. Quantitative reconciliation of our non-GAAP adjusted EBITDA information to the most directly comparable GAAP financial information appears in today's press release.

在整個電話會議期間，我們將提供某些非公認會計準則財務資訊。該資訊並非按照 GAAP 計算，並且可能與其他公司類似標題的非 GAAP 資訊的計算方式不同。今天的新聞稿中列出了我們非 GAAP 調整後 EBITDA 資訊與最直接可比較的 GAAP 財務資訊的定量對帳。

Before we begin our formal remarks, let me remind everyone that part of our discussion today will include forward-looking statements. Such forward-looking statements are not guarantees of future performance and therefore you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Some of these risks are mentioned in today's press release. Others are discussed in our Form 10-K and other filings which are made available at www.sec.gov.

在我們開始正式發言之前，請容許我提醒大家，我們今天的討論內容將包含前瞻性陳述。此類前瞻性陳述並非對未來業績的保證，因此您不應過度依賴它們。這些聲明受到許多風險和不確定性的影響，可能導致實際結果與我們的預期有重大差異。今天的新聞稿中提到了其中一些風險。其他內容已在我們的 10-K 表格和其他文件中討論，這些文件可在 www.sec.gov 上查閱。

I'd now like to introduce our CEO, Rhon Daguro.

現在我想介紹我們的執行長 Rhon Daguro。

Thank you, Graham and thank you all for joining us today to discuss our fourth quarter and full year 2024 results. authID is a biometric authentication company focused on knowing who's behind the device. While artificial intelligence has made incredible strides across many use cases within the last two years, it has also brought advances in deepfake capabilities, which make it increasingly difficult to verify a person's identity. I want to start off the call by sharing the statement which captures the role authID plays in today's world.

謝謝格雷厄姆，也謝謝大家今天加入我們討論我們的第四季和 2024 年全年業績。 authID 是一家生物辨識身分驗證公司，專注於了解裝置背後的使用者。雖然人工智慧在過去兩年中在許多用例上取得了令人難以置信的進步，但它也帶來了深度偽造功能的進步，這使得驗證一個人的身份變得越來越困難。我想透過分享一份聲明來開始這通通話，這份聲明概括了 authID 在當今世界所扮演的角色。

Artificial intelligence is producing the most realistic inauthentic content the world has ever seen. The only way to allow companies to ensure authenticity is to give them the capability to trust the physical presence of an individual human being. This is what authID delivers. I'm very proud of our 2024 growth, not only across our financial metrics, but also in the foundation we have built to be a dominant player in this rapidly expanding market.

人工智慧正在製作世界上迄今為止最逼真的虛假內容。讓公司確保真實性的唯一方法是讓他們能夠信任個人的實際存在。這就是 authID 所提供的。我對我們 2024 年的成長感到非常自豪，不僅因為我們的財務指標，還因為我們為成為這個快速擴張的市場中的主導者而建立的基礎。

When I began my tenure as CEO, authID created a product that I believe had the potential to be a winner, but the team was down to bare minimum. The company was in financial strain. My mandate was to rebuild authID to deliver strong financial and operational results and rebuild a company that lacked market credibility.

當我開始擔任執行長時，authID 創建了一款我認為有潛力成為贏家的產品，但團隊只剩下最低限度的人員。該公司陷入了財務困境。我的任務是重建 authID，以實現強勁的財務和營運業績，並重建一家缺乏市場信譽的公司。

So in 18 months ago, we set ambitious goals, not to just turn the business around, but to quickly grow by assembling a world-class team, positioning the technology to be market leading in every category of biometric authentication. I am proud to say that we have quickly made great progress in positioning for aggressive growth and our business has improved across all key metrics.

因此，18 個月前，我們設定了雄心勃勃的目標，不僅要扭轉業務局面，還要透過組建世界一流的團隊實現快速發展，使該技術在生物識別認證的各個領域都處於市場領先地位。我很自豪地說，我們在實現積極成長的定位方面迅速取得了巨大進展，我們的業務在所有關鍵指標上都有所改善。

We built a proven go-to-market plan to execute a high growth year-over-year strategy where we centered our entire organization around 300 core accounts divided into three categories, fast high growth companies, large enterprise companies, and channel partners.

我們制定了行之有效的市場進入計劃，以執行高成長的逐年策略，其中我們整個組織圍繞 300 個核心帳戶，分為三類：快速高成長公司、大型企業公司和通路合作夥伴。

We calibrated our sales pipeline to the rate of $9 million a quarter and we closed many fast customers as we could while nurturing large accounts for our 2025 pipeline. To this end, we assembled a team of identity domain experts that large companies can trust and feel confident to do business with.

我們將銷售管道調整為每季 900 萬美元的水平，並儘可能簽下快速客戶，同時為我們的 2025 年管道培育大客戶。為此，我們組建了一支身分領域專家團隊，大公司可以信賴他們並有信心與他們開展業務。

We also had to refine our software to be enterprise ready to service large brand name accounts. We did it all in just 18 months time and here's what authID achieved in 2024. Let's start with booked ARR, which is the total of committed ARR plus estimated usage above committed ARR, 18 months from signing the contract. We set out to achieve a five-year T2D3 growth target which is triple growth year one, triple growth year two, and double growth in years three, four, and five to get to $100 million in ARR.

我們還必須改進我們的軟體，以便為大型品牌客戶提供服務。我們僅用 18 個月就完成了所有工作，以下是 authID 在 2024 年取得的成就。讓我們從預訂 ARR 開始，它是從簽訂合約起 18 個月內承諾 ARR 加上超過承諾 ARR 的預計使用量的總和。我們設定了實現五年 T2D3 成長目標，第一年成長三倍，第二年成長三倍，第三、四、五年成長一倍，達到 1 億美元的 ARR。

For the first year, we originally targeted $3 million in booked ARR over 12 months but we achieved that target within six months. $3 million represented more than 3x in booked ARR from previous years. For 2024, we aim for our second 3x growth year targeting $9 million and I'm very happy to report that we achieved that 3x goal of $9 million this year.

第一年，我們最初的目標是 12 個月內實現 300 萬美元的預定 ARR，但我們在六個月內就實現了這一目標。 300 萬美元相當於前幾年預定 ARR 的 3 倍以上。對於 2024 年，我們的目標是實現第二個 3 倍增長年，目標是 900 萬美元，我很高興地報告，我們今年實現了 3 倍增長 900 萬美元的目標。

We also improved our remaining performance obligation or RPO by 3.5x from $4 million to over $14 million. To reiterate, we have performed at least 3x in booked ARR and RPO. Despite our size, we have positioned ourselves to partner with very large customers, some of whom are in the late stages of our sales cycle.

我們也將剩餘履約義務或 RPO 提高了 3.5 倍，從 400 萬美元增加到 1,400 萬美元以上。重申一下，我們的預訂 ARR 和 RPO 表現至少是原來的 3 倍。儘管我們的規模很大，但我們已準備好與非常大的客戶合作，其中一些客戶正處於我們的銷售週期的後期階段。

We expect to close multiple Fortune 500 and multinational customers in 2025. We have increased our pipeline generation activity with an open pipeline of over 3x the $18 million in bookings we are targeting. We are adding over $20 million in bookings pipeline per quarter which we will continue to ramp up and we are also working diligently to bring our new customers live on the platform and convert our bookings to revenue.

我們預計在 2025 年將與多家財富 500 強企業和跨國客戶達成交易。我們增加了通路產生活動，開放通路的預訂金額是我們目標 1800 萬美元的 3 倍以上。我們每季都會增加超過 2000 萬美元的預訂量，我們將繼續增加預訂量，同時我們也在努力將新客戶引入平台，並將預訂量轉化為收入。

Moving to our fourth-quarter highlights, authID closed the largest deal in the company's history in Q4. A $10 million contract over three years with our next generation AI partner in India. We also expanded our relationship with EinStrong to enable larger initiative to provide basic income payments to individuals and families in need around the world. This represents a satisfied customer who increased their usage of authID, a land and expand model we are working to replicate with more customers.

談到我們第四季的亮點，authID 在第四季度完成了公司歷史上最大的交易。我們與印度的下一代人工智慧合作夥伴簽訂了為期三年、價值 1000 萬美元的合約。我們也擴大了與 EinStrong 的關係，以便開展更大的計劃，為世界各地有需要的個人和家庭提供基本收入補助。這表明客戶很滿意，他們增加了對 authID 的使用，我們正在努力將這種落地和擴展模式複製到更多客戶。

We also added several new customers and partners in Q4 including TurboCheck to a help verify identity of job candidates; Imperial Technologies to support onboarding for new telecom customers, a FinTech for financing major recreational purposes; Berify to power reusable identities for onboarding and authenticating users across their portfolio brands; and Salus to report -- to support the automated underwriting of consumer microloans.

我們還在第四季度增加了幾個新客戶和合作夥伴，包括 TurboCheck，以幫助驗證求職者的身份； Imperial Technologies 為新電信客戶的入職提供支持，這是一家為主要娛樂用途提供融資的金融科技公司； Berify 為其投資組合品牌中的用戶提供可重複使用的身份認證和入職培訓；和 Salus 報告——支持消費者小額貸款的自動承保。

We continue to build our partner ecosystem and seamlessly work with other platforms in order to leverage mutual market opportunities. These partnerships help us reach their existing customer bases as well as new verticals.

我們將繼續建立我們的合作夥伴生態系統，並與其他平台無縫合作，以利用共同的市場機會。這些合作關係幫助我們接觸到他們現有的客戶群以及新的垂直市場。

In Q4, we announced a partnership with Zendesk to enable their customers to seamlessly access authID through their customer support software and to better address call center use cases. We announced our membership in the Accountable Digital Identity Association or ADIA, which is a critical step as we work to advance the adoption of reusable digital identities and collaborate closely in the growth of ADIA standardized framework and ecosystem which is rooted in biometrics.

在第四季度，我們宣布與 Zendesk 建立合作夥伴關係，使他們的客戶能夠透過他們的客戶支援軟體無縫存取 authID，並更好地解決呼叫中心使用案例。我們宣布加入負責任數位身分協會 (ADIA)，這是我們致力於推動可重複使用數位身分的採用以及密切合作發展以生物識別技術為基礎的 A​​DIA 標準化框架和生態系統的關鍵一步。

The ADIA was founded by Ramesh Kesanupalli who also founded the FIDO Alliance, the most successful standards body solving for passwords. Our mutual goal is to validate every identity in an interoperable format controlled through biometrics. authID is working with a major biometric hardware provider to showcase our reusable identity solution by deploying the first identity exchange between the United States and Japan.

ADIA 的創辦人是 Ramesh Kesanupalli，他也是 FIDO 聯盟的創辦人，FIDO 聯盟是解決密碼問題最成功的標準機構。我們的共同目標是以透過生物辨識技術控制的可互通格式驗證每個人的身分。 authID 正在與一家主要的生物識別硬體供應商合作，透過部署美國和日本之間的首次身份交換來展示我們的可重複使用的身份解決方案。

Our plan is to demonstrate this identity exchange between two different entities across two different countries all based on the ADIA standard. This has never been done before. This addresses the challenges enterprises face in managing multiple identities for their global employee and contractor workforces.

我們的計劃是基於 ADIA 標準來展示兩個不同國家不同實體之間的身份交換。這是以前從未做過的事。這解決了企業在管理其全球員工和承包商隊伍的多重身分時所面臨的挑戰。

In addition, having a single-trusted identity bound to a person's biometrics and reusable across business units and geographical territories reduces the cost and time and unnecessary friction of onboarding individuals multiple times. Enterprises we talk to are excited about the release of the capability for reusable identities.

此外，將單一可信賴身分與個人的生物特徵綁定，並可跨業務部門和地理區域重複使用，可減少多次入職個人的成本和時間，並減少不必要的摩擦。與我們交談的企業對於可重複使用身分功能的發布感到興奮。

On the technology side, in our 4.0 release, we offer PrivacyKey, which represents a quantum leap forward in biometric authentication providing frictionless security while maintaining the highest standards of data privacy and protection.

在技​​術方面，在我們的 4.0 版本中，我們提供了 PrivacyKey，它代表了生物識別身份驗證的巨大飛躍，可提供無摩擦的安全性，同時保持最高標準的資料隱私和保護。

As we recently highlighted in a press release, the Prism project conducted an independent analysis of authID's approach to privacy and compliance-first biometric authentication, classifying authID as a luminary, their highest level of distinction for our leading edge platform. I'm proud of the team's efforts and accomplishments in 2024.

正如我們最近在新聞稿中強調的那樣，Prism 計畫對 authID 的隱私和合規性優先生物特徵認證方法進行了獨立分析，將 authID 評為傑出人物，這是我們領先平台的最高榮譽。我為球隊在2024年的努力和取得的成就感到自豪。

As I mentioned earlier, the rise of artificial intelligence is challenging identity verification solutions to contend with the most sophisticated fraud attacks that leverage deepfakes, public available AI models, and camera injection software.

正如我之前提到的，人工智慧的興起正在挑戰身份驗證解決方案，使其能夠應對利用深度偽造、公開可用的人工智慧模型和攝影機注入軟體的最複雜的詐欺攻擊。

At authID, we are meeting this rising AI threat by combining the sophistication of biometric liveness and injection attack detection while also delivering speed, accuracy, and privacy to allow broad adoption for all organizations.

在 authID，我們透過結合生物識別活體技術和注入攻擊檢測的複雜性來應對這一日益增長的人工智慧威脅，同時也提供速度、準確性和隱私性，以便所有組織廣泛採用。

The market has told us that there are three key pillars for adoption of biometric solutions and our foundation for differentiating authID in the market. Starting with speed. Instead of traditional 7 to 10 seconds for other vendors, authID can process new identities in a blazing 700 milliseconds for the best possible user experience or even faster at 25 milliseconds for simple self-lead biometric authentication.

市場告訴我們，採用生物辨識解決方案有三大關鍵支柱，也是我們在市場上區分 authID 的基礎。從速度開始。其他供應商通常需要 7 到 10 秒，而 authID 可以在短短 700 毫秒內處理新身份，從而提供最佳的用戶體驗，甚至可以在 25 毫秒內完成簡單的自助生物識別身份驗證。

Next is accuracy, which we measure by false match rate, meaning the probability of matching a face to the wrong user account. No other vendor matches our 1 to 1 billion false match rate, which leads the market by at least 4x. More importantly, even with our speed, there is no compromise to accuracy.

接下來是準確度，我們透過錯誤匹配率來衡量，即將人臉與錯誤的用戶帳戶匹配的機率。沒有其他供應商能與我們 1 比 10 億的錯誤匹配率相匹敵，這至少領先市場 4 倍。更重要的是，即使我們的速度很快，準確性也不會受到影響。

The third key to adoption is privacy and compliance. Stringent legislation already exists in the form of CCPA, BIPA, CUBI, and GDPR, with new laws being enacted globally all the time. The potential liability for compliance failures around biometric data creates a amount of hesitation around the use of biometrics.

採用的第三個關鍵是隱私和合規性。目前已經存在以 CCPA、BIPA、CUBI 和 GDPR 形式出現的嚴格立法，並且在全球範圍內一直在頒布新的法律。生物特徵資料合規性失敗的潛在責任導致人們對使用生物特徵識別技術產生了一定程度的猶豫。

With the introduction of PrivacyKey, we are the first to offer biometric authentication without needing to store any biometrics. By leveraging public key technology, the baseline for all enterprise encryption and crypto, this helps authID customers implement biometrics with built-in compliance.

隨著 PrivacyKey 的推出，我們率先提供無需儲存任何生物特徵的生物辨識認證。透過利用公鑰技術（所有企業加密和加密的基礎），這可以幫助 authID 客戶實現具有內建合規性的生物辨識技術。

We also achieved an industry first with the ability to revoke biometrics to comply with corporate password rotation policies. It's a challenge in biometrics without requiring the person to effectively get a new face. This capability unlocks critical enterprise use cases where revocability is necessary in any company's IT compliance policy. This commitment to privacy and the market-leading ability to deliver it further helps our customers eliminate the biggest hurdle in adoption, the fear of biometric data being stolen.

我們也率先實現了撤銷生物辨識技術以遵守公司密碼輪替政策的能力。這是生物辨識領域的一個挑戰，無需人們有效地獲得一張新面孔。此功能可解鎖關鍵企業用例，其中任何公司的 IT 合規政策都需要可撤銷性。這種對隱私的承諾以及市場領先的隱私保護能力有助於我們的客戶消除採用過程中的最大障礙，即對生物特徵資料被盜的擔憂。

Identity verification technology is critical to corporations and governments. As AI continues to advance, authID offers a critical solution for our customers while also eliminating barriers to biometric adoption. Customers choose us because we fulfill the requirements of speed, accuracy, and data privacy.

身份驗證技術對企業和政府來說至關重要。隨著人工智慧的不斷發展，authID 為我們的客戶提供了關鍵的解決方案，同時也消除了生物辨識技術採用的障礙。客戶選擇我們是因為我們滿足速度、準確性和資料隱私的要求。

Before I turn to Ed to cover the financials, Dale will show you a three-minute demo so you can see for yourselves how we help our customers' combat AI-generated fraud.

在我請 Ed 介紹財務狀況之前，Dale 將向你們展示一個三分鐘的演示，以便你們親眼看到我們如何幫助客戶打擊人工智能引發的欺詐行為。

So I'd love to talk about the type of fraud that our prospective customers experience. So across the top we have examples of the same fraudster impersonating different victims. The victims are across the bottom. They steal someone's likeness either from social media, LinkedIn, Facebook, Instagram, find those likenesses, train a model, and overlay that likeness on top of themselves. And unfortunately, they can use this very effectively to bypass some of the legacy tools for account opening and authentication.

所以我很樂意談談我們的潛在客戶所遭遇的詐騙類型。因此，我們可以看到同一個詐騙犯冒充不同受害者的例子。受害者就在底部。他們從社群媒體、LinkedIn、Facebook、Instagram 上竊取某人的肖像，找到這些肖像，訓練模型，然後將這些肖像疊加在自己身上。不幸的是，他們可以非常有效地利用這一點來繞過一些傳統的開戶和身分驗證工具。

All right, so I wanted to show some of the the tooling that these fraudsters use to commit this type of fraud. So on the bottom left, we have my actual face. Then, we introduce a mapping of my face so we can track data points. Then, we load up our target model of the person we wish to impersonate, and then ultimately we merge the two to create this likeness, so that it appears live to be used for fraudulent purposes across digital account opening and biometric authentication. This type of tool is becoming more widespread and easily accessible, and these types of fraud attacks are what often is well positioned to stop.

好吧，所以我想展示這些騙子用來實施此類詐欺的一些工具。左下角是我的真實面孔。然後，我們引入我的臉部映射，以便我們可以追蹤數據點。然後，我們加載我們想要模仿的人的目標模型，最終將兩者合併以創建這種相似性，以便它看起來像真的一樣，可用於在數位帳戶開設和生物識別身份驗證中進行欺詐目的。這種類型的工具正變得越來越普及和容易獲得，而這些類型的詐欺攻擊往往是可以很好地阻止的。

Now to go through an example of how one would use us in practice for account opening, a fraudster would steal potentially the ID of the victim through a data breach. It could be legitimate or it could be some digitally rendered version of that ID credential.

現在舉一個例子來說明人們如何在實踐中利用我們來開立帳戶，詐欺者可能會透過資料外洩竊取受害者的身分證。它可能是合法的，也可能是該身分證件的某種數位版本。

Then secondly, as you saw me do live, I can steal the likeness of my target victim, create a deepfake video feed, or overlay their likeness onto a live version of myself to pass biometric and liveness detection. Then ultimately what the fraudster will then do is go through an account opening flow through a bank.

其次，正如您在現場看到的那樣，我可以竊取目標受害者的肖像，創建深度偽造視頻，或將他們的肖像疊加到我自己的真人版本上，以通過生物識別和活體檢測。然後，詐欺者最終要做的就是透過銀行完成開戶流程。

Let's say that flows on the left and on the right, the fraudster would have tooling that allows them to push in stolen copies of identities for this digital account opening. So here we see a fraudster pushing in a stolen copy of someone's ID digitally, both for the front and the back. And then secondly, they'll take that biometric that they've created through a deepfake or generative AI and use that biometric impersonation of that individual to pass a biometric match plus a liveness detection.

假設流程在左側和右側，詐欺者就會擁有工具，允許他們推送被盜的身份副本來開設數位帳戶。所以在這裡我們看到一個詐騙者以數位方式推銷某人的身分證的偷來的副本，包括正面和背面。其次，他們會利用深度偽造或生成式人工智慧創建的生物特徵，並使用該個人的生物特徵模擬來透過生物特徵匹配和活體檢測。

Now unfortunately this works with some of our competitors in the market. Thankfully, authID solution is well positioned to detect these types of fraud attacks.

不幸的是，現在市場上我們的一些競爭對手也採用了這種方式。值得慶幸的是，authID 解決方案能夠很好地偵測這些類型的詐欺攻擊。

Thanks, Dale. We are very excited about our technology and our customers are equally excited. I'd like to pass the call to Ed Sellitto, our CFO.

謝謝，戴爾。我們對我們的技術感到非常興奮，我們的客戶也同樣興奮。我想將電話轉給我們的財務長 Ed Sellitto。

Thank you, Rhon. And thank you all for joining us today. Looking at slide 9, total revenue for the quarter was approximately $0.2 million compared to $0.07 million a year ago. For the year, total revenue was $0.89 million compared with $0.19 million a year ago, and at the top of our expected range of $800,000 to $900,000.

謝謝你，Rhon。感謝大家今天的到來。從投影片 9 可以看出，本季總收入約為 20 萬美元，而去年同期為 7 萬美元。全年總收入為 89 萬美元，而去年為 19 萬美元，處於我們預期的 80 萬至 90 萬美元的最高水平。

Operating expenses for Q4 were $4.9 million compared with $3.3 million last year. For the full year, operating expenses were $15.6 million compared with $10.9 million in 2023. The 2024 increase is primarily due to a one-time non-cash expense reversal in Q1 2023 of $3.4 million of certain stock-based compensation related to employee terminations, which was not repeated in 2024, as well as reinvestment in employees and contractors following the Q1 2023 restructuring.

第四季的營運費用為 490 萬美元，而去年同期為 330 萬美元。全年營運費用為 1,560 萬美元，而 2023 年為 1,090 萬美元。2024 年的成長主要由於 2023 年第一季一次性非現金支出沖銷，其中 340 萬美元為與員工解僱相關的某些股票薪酬，而 2024 年沒有再次發生這種情況，以及 2023 年第一季度重組後對員工和承包商的再投資。

Net loss from continuing operations for the quarter was $4.6 million, of which non-cash charges were $0.6 million, compared with a net loss of $3.2 million a year ago, of which non-cash charges were $0.5 million. For the full year, net loss from continuing operations was $14.3 million, including $2.8 million in non-cash charges. This compares to a net loss of $19.6 million for the same period last year, which included $10.9 million in non-cash and one-time severance charges, with approximately $7.5 million related to the exchange of convertible notes for common stock in 2023. Net loss per share for the quarter was $0.49 compared with $0.41 a year ago. For the full year, net loss per share improved to $1.40 compared with $3.19 last year.

本季持續經營淨虧損為 460 萬美元，其中非現金費用為 60 萬美元，去年同期淨虧損為 320 萬美元，其中非現金費用為 50 萬美元。全年持續經營淨虧損為 1,430 萬美元，其中包括 280 萬美元的非現金費用。相較之下，去年同期的淨虧損為 1,960 萬美元，其中包括 1,090 萬美元的非現金和一次性遣散費，其中約 750 萬美元與 2023 年可轉換票據兌換普通股有關。本季每股淨虧損為 0.49 美元，去年同期為 0.41 美元。全年每股淨虧損從去年的 3.19 美元改善至 1.40 美元。

Next, let's turn to RPO on slide 10. Remaining performance obligation, or RPO, provides a measure of the minimum revenue expected to be recognized from our signed contracts based on our customers' contractual commitments.

接下來，讓我們轉到第 10 張投影片上的 RPO。剩餘履約義務（RPO）是根據我們客戶的合約承諾衡量我們簽訂的合約預計確認的最低收入。

As of December 31, 2024, our total RPO was $14.26 million, an increase of $10.43 million over the prior quarter due to the impact of the large $10 million contract secured in the fourth quarter. This compares favorably with the RPO at the same period last year, which was approximately $4 million and is above our expectation of $13 million to $14 million. We expect to recognize the full RPO of $14.26 million over the entire life of the contracts, which are typically signed with a three-year term.

截至 2024 年 12 月 31 日，我們的 RPO 總額為 1,426 萬美元，較上一季增加 1,043 萬美元，這歸因於第四季度獲得的 1,000 萬美元大合約的影響。這與去年同期的 RPO 相比表現良好，後者約為 400 萬美元，並且高於我們預期的 1,300 萬至 1,400 萬美元。我們預計在整個合約期間內確認全部 1426 萬美元的 RPO，合約期限通常為三年。

On to our non-GAAP results on slide 11. Adjusted EBITDA loss was $4.1 million for Q4 compared with a $2.7 million loss for the same period last year. For the full-year period, adjusted EBITDA loss was $11.9 million compared with an $8.7 million loss for the same period last year. The increase in EBITDA loss is primarily due to reinvestment in employees and contractors following the Q1 2023 restructuring.

請參閱第 11 張投影片上的非 GAAP 結果。第四季調整後 EBITDA 虧損為 410 萬美元，而去年同期虧損為 270 萬美元。全年調整後 EBITDA 虧損為 1,190 萬美元，而去年同期虧損 870 萬美元。EBITDA 損失的增加主要是由於 2023 年第一季重組後對員工和承包商的再投資。

We also monitor and report on ARR, or annual recurring revenue, which is defined as the amount of recurring revenue earned during the last three months of the relevant period as determined in accordance with GAAP, multiplied by 4. The amount of ARR as of Q4 is $0.8 million compared to $1 million of ARR as of Q3 and $0.3 million of ARR for the same period last year. The temporary quarter-over-quarter decrease was driven by the accounting impact of the modification of a customer contract due to a delayed go-live timeline, as we previously discussed in Q3.

我們也監控並報告 ARR 或年度經常性收入，其定義為根據 GAAP 確定的相關期間最後三個月內獲得的經常性收入金額乘以 4。截至第四季的 ARR 金額為 80 萬美元，而截至第三季的 ARR 金額為 100 萬美元，去年同期的 ARR 金額為 30 萬美元。正如我們之前在第三季所討論的那樣，暫時的環比下降是由於上線時間延遲導致的客戶合約修改產生的會計影響。

Turning to BARR, or booked annual recurring revenue, which is the projected amount of annual recurring revenue we believe will be earned under contracted orders looking at 18 months from the date of signing of each customer contract.

談到 BARR，即預定年度經常性收入，這是我們認為從簽署每個客戶合約之日起 18 個月內根據合約訂單預計獲得的年度經常性收入金額。

The gross amount of BARR signed in the fourth quarter of 2024 was $7.13 million, up from $1.67 million of gross BARR a year ago. Our Q4 BARR was driven by the large deal with our next-generation AI partner in India. For the full year, 2024 gross BARR was $9.01 million, up from $2.94 million in 2023, and in line with our expectation.

2024 年第四季簽署的 BARR 總金額為 713 萬美元，高於去年同期的 167 萬美元。我們第四季的 BARR 是由與印度下一代人工智慧合作夥伴達成的大型交易推動的。就全年而言，2024 年總 BARR 為 901 萬美元，高於 2023 年的 294 萬美元，符合我們的預期。

Net BARR, which reflects the deduction in BARR from contracts previously included in reported BARR that were subject to attrition during the quarter, was approximately $6.86 million, compared with $1.67 million of net BARR signed in the fourth quarter of 2023. 2024 net BARR was $7.38 million, compared with $2.94 million in 2023. The reduction from gross to net BARR in 2024 is due to the impact from certain customers that have delayed their go lives and expected usage ramp.

淨 BARR 反映了先前包含在報告的 BARR 中的合約在本季度​​遭受人員流失的扣除額，約為 686 萬美元，而 2023 年第四季度簽署的淨 BARR 為 167 萬美元。 2024 年淨 BARR 為 738 萬美元，而 2023 年為 294 萬美元。2024 年 BARR 從總 BARR 降至淨 BARR 是由於某些客戶推遲了其使用壽命和預期使用量成長的影響。

As previously explained during our quarterly earnings call, BARR comprises two components which we refer to as cARR and UAC. The Q4 2024 cARR, or committed annual recurring revenue, represents $3.68 million, with 2024 full-year cARR representing $4.68 million, both approximately 52% of reported BARR.

正如我們之前在季度收益電話會議上所解釋的那樣，BARR 由兩個部分組成，我們稱之為 cARR 和 UAC。2024 年第四季 cARR（承諾年度經常性收入）為 368 萬美元，2024 年全年 cARR 為 468 萬美元，兩者均約為報告 BARR 的 52%。

UAC, or estimated usage above commitment, is an estimate of annual customer usage that will exceed contractual commitments. The UAC comprises the remaining $3.45 million of Q4 BAAR and $4.33 million of full-year 2024 BAAR, both approximately 48% of reported BARR.

UAC（超出承諾的預估使用量）是超出合約承諾的年度客戶使用量的估計。UAC 包括第四季度 BAAR 剩餘的 345 萬美元和 2024 年全年 BAAR 的 433 萬美元，兩者均約佔報告 BARR 的 48%。

Turning to our revenue growth stages on slide 12. I'll take a moment now to summarize our progress through the following revenue growth stages. The first milestone we use to monitor our growth is bookings, as measured by BARR. In 2024, we realized a total gross BARR of $9.01 million, approximately a 3x increase over the same period in 2023.

轉到第 12 張投影片上的收入成長階段。現在我將花一點時間來總結我們在以下收入成長階段所取得的進展。我們用來監控成長的第一個里程碑是預訂量，以 BARR 來衡量。2024 年，我們實現了 BARR 總總額 901 萬美元，比 2023 年同期成長了約 3 倍。

The next milestone is our remaining performance obligation, or RPO. As I detailed earlier, as of the end of the year we've secured approximately $14.3 million in RPO, a $10.2 million increase over the RPO secured by the end of 2023.

下一個里程碑是我們剩餘的履約義務，或稱為RPO。正如我之前詳細介紹的那樣，截至今年年底，我們已獲得約 1,430 萬美元的 RPO，比 2023 年底獲得的 RPO 增加了 1,020 萬美元。

Our third milestone is revenue, recognized in accordance with GAAP. Our 2024 revenue is $0.89 million, grew approximately $0.7 million over the same period in 2023. And as we've called out in prior earnings calls, we will increase our focus in monitoring our customer retention and expansion in 2025 as our customer contracts mature. We'll optimize our sales and support efforts to deepen our customer relationships and increase the value added by our services through renewals, usage growth, and customer expansions through additional use cases and product upsells.

我們的第三個里程碑是按照 GAAP 確認的收入。我們的 2024 年營收為 89 萬美元，比 2023 年同期成長約 70 萬美元。正如我們在先前的收益電話會議上所呼籲的那樣，隨著客戶合約的成熟，我們將在 2025 年更加關注客戶保留和擴張。我們將優化銷售和支援工作，以加深我們的客戶關係，並透過續約、使用量成長以及透過增加用例和產品追加銷售來擴展客戶來增加我們服務的附加價值。

With that, operator, we would now like to open up for questions.

接線員，現在我們可以開始提問了。

Thank you, sir. (Operator Instructions)

謝謝您，先生。（操作員指示）

Ricky Solomon, Wilmot.

里奇所羅門，威爾莫特。

Yeah. Hey, Rhon, in your sales conversations, what are the things that customers are looking at and why are they choosing authID over other options?

是的。嘿，Rhon，在你的銷售對話中，客戶關注的是什麼，為什麼他們選擇 authID 而不是其他選項？

Thanks, Ricky. Can you hear me?

謝謝，瑞奇。你聽得到我嗎？

Yes. All right. Awesome.

是的。好的。驚人的。

Yeah. Hey, thanks for the question. So, what's really exciting with the last release of the software, we've actually been placed in a lot of these large enterprise organizations' POCs. So, in these POCs, we are having use cases around new customer onboarding, workforce authentication, time and attendance, so people showing up to work and they don't want to log in, they just want to scan their face. Real big issues around downloading sensitive documents like [W-2s], tax forms. The very big one right now that's really taking a lot by storm is this account takeover where people are coming in and they're impersonating somebody else and they're moving stuff around personal data and money.

是的。嘿，謝謝你的提問。因此，該軟體最新版本真正令人興奮的是，我們實際上已經部署到許多大型企業組織的 POC 中。因此，在這些 POC 中，我們有圍繞新客戶入職、員工身份驗證、考勤等用例，因此人們上班時不想登錄，只想掃描他們的臉。下載敏感文件（如 [W-2s]、稅務表格）確實存在大問題。目前最嚴重、最嚴重的網路犯罪是帳戶盜用，有人進入帳戶，冒充他人，轉移個人資料和資金。

Wire transfer is a big use case. Personal information changes, high-risk transactions, even stuff like deleting databases. These are very critical things that they need really strong authentication. Single-identity source of truth, so making sure that there's no duplicate Ricky Solomons inside anybody's identity database or making sure everybody's unique. And then more recently, replication of biometrics.

電匯是一個很大的用例。個人資訊變更、高風險交易，甚至刪除資料庫之類的事情。這些都是非常關鍵的事情，他們需要真正強大的身份驗證。單一身分真相來源，從而確保任何人的身分資料庫中都沒有重複的 Ricky Solomons，或確保每個人都是獨一無二的。最近，又出現了生物辨識技術的複製。

As these companies are actually looking to solve these use cases and looking at biometric providers, really they're centering their like scorecard around like three major pillars. First one, how fast can we do the biometrics so speed? Second one is, how accurate is it? Because right now the when standard is only [100,000] false match rate, where we're at one in a 1 billion.

由於這些公司實際上正在尋求解決這些用例並專注於生物識別提供商，因此他們實際上將記分卡集中在三大支柱上。第一個問題，我們能以多快的速度進行生物辨識？第二個問題是，它的準確性如何？因為現在的標準只有 [100,000] 錯誤匹配率，也就是十億分之一。

And then the last piece is, do I get in trouble for deploying biometrics because I'm not complying to law? And so we had this story around a chief compliance officer saying, I'd love to use biometrics, but I just simply can't because I'm not a biometric expert and I don't want to subject myself to any liability. So we basically have to hit all three of these categories, which is speed, accuracy, and privacy. So it's those scorecard items against those use cases is what our customers are looking at with us.

最後一個問題是，我部署生物辨識技術是否會因為不遵守法律而惹上麻煩？因此，我們有一個故事，一位首席合規官說，我很想使用生物辨識技術，但我不能，因為我不是生物辨識專家，而且我不想讓自己承擔任何責任。所以我們基本上必須滿足這三個類別，即速度、準確性和隱私。因此，我們的客戶與我們一起關注的正是針對這些用例的記分卡項目。

Yeah. And if you look at, let's say, PrivacyKey and ADIA coming all together. I mean, how are customers looking at that? Like, could we be looking at something where a solution based on ADIA can be instead of like a business use cases you laid out, like consumer facing where businesses trust one identification source for, say if I log onto my Chase app or if I log onto my Fidelity app or like, how do you see that going forward?

是的。如果你看一下，比如說，PrivacyKey 和 ADIA 結合在一起。我的意思是，顧客對此有何看法？例如，我們是否可以考慮基於 ADIA 的解決方案，而不是像您列出的業務用例那樣，面向消費者，企業信任一個身分識別來源，例如我登入我的 Chase 應用程式或登入我的 Fidelity 應用程式等，您如何看待未來的發展？

Thank you. I love that question because there's actually two really big parts around ADIA. The first big part around ADIA is exactly how you described. Can an organization like Wells Fargo trust an identity that's been banking with Bank of America or trust an identity that's been banking with Chase? And so how does one bank be able to leverage the history and the activity and the longevity of that identity's behavior at a different institution as a form of knowing that that's Ricky Solomon, as opposed to just doing a simple KYC check, which is what's your favorite color? What year car did you drive? Or what was your address 10 years ago?

謝謝。我很喜歡這個問題，因為 ADIA 實際上包含兩個非常重要的部分。關於 ADIA 的第一個重要部分正是您所描述的。像富國銀行這樣的機構可以信任在美國銀行或大通銀行進行過銀行業務的身份嗎？那麼，一家銀行如何能夠利用該身分在不同機構的行為歷史、活動和持續時間來識別那是 Ricky Solomon，而不是僅僅進行簡單的 KYC 檢查（您最喜歡的顏色是什麼？）您開的是哪一年的車？或是你十年前的地址是？

They would rather trust another institution who has had history with you as opposed to just answering KYC questions. So that reusability has actually been requested of us. And in fact, many institutions have been trying to produce this. Name your favorite, credit bureau. They're going to have this thing called their name plus the word ID right behind it. And they've been trying to, a lot of organizations have been trying to create a unified ID. The problem is they were never built on a standard.

他們寧願相信與您有過合作歷史的另一個機構，而不是只回答 KYC 問題。因此我們實際上已經要求了可重複使用性。事實上，許多機構一直在努力實現這一點。說出您最喜歡的信用局。他們將會有一個叫做他們的名字加上後面的單字 ID 的東西。許多組織一直在嘗試建立統一的 ID。問題是它們從來都不是按照標準建造的。

So what ADIA does is create that standard that everybody can use. The beauty of that standard is it was founded by Ramesh Kesanupalli, who founded the FIDO Alliance. So that means that all 84 members of the FIDO Alliance, including the major top five enterprise tech organizations, they're all part of it. And the hope and what we're starting to see is people are adopting that standard. So one, you got to have an adoption. Two, you have to have a standard that everybody can follow. And three, can you actually demonstrate it? So that's use case number one is company-to-company trust.

因此，ADIA 所做的就是創建每個人都可以使用的標準。這個標準的美妙之處在於它是由 FIDO 聯盟的創始人 Ramesh Kesanupalli 創立的。這意味著 FIDO 聯盟的所有 84 個成員，包括五個主要企業技術組織，都是該聯盟的一部分。我們開始看到的希望是人們正在採用該標準。首先，你必須收養孩子。二，你必須有一個每個人都能遵循的標準。第三，你真的能證明這一點嗎？所以第一個用例是公司之間的信任。

The second more exciting use case is what we're seeing right now is like seeing an organization who has multiple business entities that they acquired over a period of time, but yet they did not integrate the business.

第二個更令人興奮的用例是我們現在看到的，就像看到組織在一段時間內收購了多個業務實體，但他們卻沒有整合業務。

I'll give you an example because this is my favorite company, Disney. Disney owns many brands, ESPN, all the way down to Marvel, all the way down to Hulu, all the way down to Pixar. And if you can imagine, they're not going to blend all of those companies together and have them all work in a unified system or the same payroll system or the same identity system. They're actually each operating entity, but they're still part of the same family. So how does one manage an identity that where they onboard into Hulu, but they still need to log into Pixar, or they need to log into Marvel, or they need to log into ESPN, because they're also part of the same parent company?

我舉個例子，因為這是我最喜歡的公司，迪士尼。迪士尼擁有許多品牌，從 ESPN 到漫威，再到 Hulu，再到皮克斯。你可以想像，他們不會將所有這些公司融合在一起，讓它們都在統一的系統、相同的工資系統或相同的身份系統中工作。它們實際上是各自的營運實體，但它們仍然是同一個家族的一部分。那麼，人們如何管理身份呢？他們登入了 Hulu，但仍然需要登入 Pixar，或需要登入 Marvel，或需要登入 ESPN，因為他們也屬於同一家母公司？

And so that same ADIA solution can work within an organization who has many entities, or it can help us work with independent entities that have nothing to do with that without each other, but they could still trust that identity if they follow the standards. So that's the big opportunity. That's the holy grail for actually eradicating fraud completely. And authID has been really focused on delivering that through ADIA because what we love about the standard, because this standard is rooted all in biometrics.

因此，相同的 ADIA 解決方案可以在擁有許多實體的組織內工作，或者它可以幫助我們與彼此無關的獨立實體合作，但如果他們遵循標準，他們仍然可以信任該身分。所以這是一個巨大的機會。這才是真正徹底根除詐欺的聖杯。authID 一直致力於透過 ADIA 實現這一目標，因為我們喜歡這個標準，因為這個標準完全植根於生物辨識技術。

And so we've been very active in that forefront. And then obviously, PrivacyKey allows us and allows every organization that participates in ADIA to be fully, fully compliant around storage of biometrics and making sure that nobody's going to get in trouble for keeping people's biometrics stored. And again, we don't store it. So that helps with enterprises adopting the standard.

因此我們一直非常活躍於這一前沿。顯然，PrivacyKey 允許我們以及每個參與 ADIA 的組織完全遵守生物識別儲存的規定，並確保沒有人會因為儲存人們的生物識別資訊而陷入麻煩。再說一次，我們不儲存它。這有助於企業採用該標準。

Great. Thanks. Hey, one more question. I'll let someone else ask a question. So you mentioned closing Fortune -- I forget the language in the press release, but large enterprises this year. What gives you confidence that that's actually going to happen in the near future here?

偉大的。謝謝。嘿，還有一個問題。我會讓其他人提問。所以你提到關閉《財星》雜誌——我忘記了新聞稿中的措辭，但今年是大型企業。是什麼讓您有信心這件事在不久的將來就會發生？

Yeah, thanks for the question. And that's what I'm super, super excited about. Because 2024, we made a bet early in the year saying, okay, what will allow large Fortune 500 companies adopt biometrics? And so that's why it was very specific saying, hey, what are the blockers? One was speed. We got that nailed. Second one was accuracy. We got that one nailed. Privacy and compliance was the third one, and we got that nailed. And it took us a little longer in 2024 to do that.

是的，謝謝你的提問。這就是讓我非常非常興奮的事情。因為 2024 年，我們在年初打賭說，好吧，什麼將使大型財富 500 強公司採用生物識別技術？這就是為什麼它要非常具體地說，嘿，阻礙因素是什麼？一是速度。我們搞定了。第二個是準確性。我們成功了。隱私和合規性是第三個問題，我們已經解決了這個問題。而我們在 2024 年花了更長的時間才達成這個目標。

So we had set out back in April to say, let's go solve this. We were trying to go into TLCs with our customers and partners in the summer, but we're still delayed in building the tech. We finalized the tech. We got it into what I call MVP status, that we got it into beta, that we got the beta program. So we were a little bit later in the year to deliver it. But now that we're in TLCs with that technology, the results are just awesome right now.

所以我們早在四月就決定，讓我們來解決這個問題。我們在夏天嘗試與客戶和合作夥伴一起進入 TLC，但我們在技術建置方面仍然有所延遲。我們最終確定了技術方案。我們讓它達到了我所說的 MVP 狀態，讓它進入了測試階段，讓它有了測試程序。因此我們在今年晚些時候才交付它。但是現在我們已經有了這項技術的 TLC，目前的結果非常棒。

So we're in these very late stages of these sales cycles with a number of these major enterprises to date. It's only a matter of time before we sign them. The response to the outreach in regards to the performance and the privacy piece has just been phenomenal. So just super excited. I mean, privacy and compliance alone represent the biggest hurdles for these Fortune 500 accounts in terms of adopting biometrics. And we've basically gotten rid of every single one of them.

到目前為止，我們與許多大型企業的銷售週期都處於非常後期的階段。我們簽署這些協議只是時間問題。關於性能和隱私方面的外展活動所得到的回應非常驚人。所以非常興奮。我的意思是，隱私和合規性本身就是這些財富 500 強企業在採用生物辨識技術方面面臨的最大障礙。我們基本上已經把它們全部清除掉了。

So we're starting to see that again, we're in late stages of those particular deals. We're hoping that we would get a couple more right before this announcement, but we're very excited that we'll be able to close those this year.

因此，我們再次開始看到這種情況，我們正處於這些特定交易的後期階段。我們希望在宣布這項消息之前能夠完成更多任務，但我們非常高興能夠在今年完成這些任務。

Awesome. Thank you.

驚人的。謝謝。

Thanks, Ricky. Rhon, we've actually had a couple of questions on the same subject from listeners on the webcast asking about these major contracts. And can you give a little bit more color about how long it takes to sign such a contract, and then the time to bring them live and revenue generating? And also how long we might expect to see the length of those contracts?

謝謝，瑞奇。羅恩，實際上，我們在網路廣播中收到了一些聽眾就同一主題提出的有關這些主要合約的問題。您能否詳細介紹簽署此類合約需要多長時間，以及上線並產生收入需要多長時間？我們預計這些合約的期限有多長？

Well, the typical contract terms that we deal with anything in cybersecurity, and it's also represented here in authID, is that usually contracts are two to three years. That's the typical timeframe for how long the contracts will hold and what we sign them up for. And also we don't want to sign them up for too long because it also limits authID's ability to upsell and cross sell.

嗯，我們處理網路安全問題時的典型合約條款（在 authID 中也有體現）是，合約期限通常為兩到三年。這是合約有效期和我們簽訂合約的典型時間範圍。而且我們也不想與他們簽約太久，因為這也會限制 authID 的追加銷售和交叉銷售的能力。

We do give discounts early on, obviously to acquire customers. We don't want to extend the discounts all the way through to the point where our cost of goods go up and go down. So we want to have flexibility for what's right for the business and what's right for the customer at that time. So that's typically two to three years.

我們確實很早就給予折扣，顯然是為了吸引顧客。我們不想一直延長折扣以致商品成本上漲和下降。因此，我們希望能夠靈活地決定什麼對企業有利，什麼對客戶有利。通常需要兩到三年。

In terms of the large enterprise deals. If you think about like just the example I just gave you with Disney, where there could be many multiple lines of businesses. And so some of these large enterprises have this thing called a core enterprise service, where they will standardize the security program across all the various entities, or each division will have their own core security enterprises. And then they have to individually figure out how to work with each other.

就大型企業交易而言。如果您想想我剛才給您舉的迪士尼的例子，那裡可能有多條業務線。因此，一些大型企業擁有所謂的核心企業服務，他們將在所有不同實體中標準化安全計劃，或每個部門都有自己的核心安全企業。然後他們必須各自想出如何相互合作。

So when we come into an enterprise, our goal is to capture the entire, in the entire enterprise base. But obviously we want to get in there with one use case. And typically what happens when you're in a large enterprise, they say, hey, we got to stop buying one vendor for each thing. So anytime you have a vendor that does something very special or very unique, you must run it by the cybersecurity committee and get approval and also share it. Because we don't want to buy 13 different technologies.

因此，當我們進入一家企業時，我們的目標是佔領整個企業基礎。但顯然我們希望透過一個用例來實現這一點。通常情況下，當你在一家大型企業時，他們會說，嘿，我們必須停止為每件產品購買一個供應商。因此，任何時候，如果您的供應商做了一些非常特殊或非常獨特的事情，您都必須將其提交給網路安全委員會並獲得批准並與他人分享。因為我們不想購買 13 種不同的技術。

We don't want to have 13 different vendor contracts. We don't have 13 different account teams. We want to be able to standardize on the best and make sure there's best practices across. So for example, we went into this very large payroll provider on the planet, largest payroll provider in the planet. They brought us into a particular use case around downloading sensitive documents.

我們不想簽訂 13 份不同的供應商合約。我們沒有 13 個不同的客戶團隊。我們希望能夠對最佳做法進行標準化，並確保普遍採用最佳實踐。例如，我們進入了地球上最大的薪資提供者——這家。他們向我們介紹了下載敏感文件的特定用例。

And then when they shared it internally, another group that's been looking at biometrics had no idea that that was happening. But there was another group that was looking at biometrics and said, hey, well, what is that technology you're looking at? Can we speak to them? And then all of a sudden they introduced this to them and then we're in a different POC. And that keeps going and it keeps going. And then sometimes their evaluations will go for three months. Sometimes they'll go for one month.

然後，當他們在內部分享這項資訊時，另一個研究生物辨識技術的團隊並不知道發生了這樣的事情。但另一個研究生物辨識技術的團隊說，嘿，你們研究的是什麼技術？我們可以和他們說話嗎？然後他們突然向他們介紹了這一點，然後我們就處於不同的 POC 中。這種情況一直持續下去。有時他們的評估會持續三個月。有時他們會去一個月。

In our case, because biometrics is new, it's got to go through several committees for approval. But also at the same time, it's exposing authID to all the various use cases that they have. And it's allowing us to put together, we think, a very large deal. So we can go from a regional-use case to now a multi-state use case to now a full-country use case, and now even a global-use case.

在我們的情況下，由於生物辨識技術是新技術，因此必須經過幾個委員會的批准。但同時，它也向各種用例公開了 authID。我們認為，這使我們能夠達成一筆非常大的交易。因此，我們可以從區域用例發展到現在的多州用例，再到現在的全國用例，甚至是全球用例。

And so it takes time and we've built that into the deal cycle. We say anywhere between six to nine months. We're right around that timeframe, six to nine months on some of these deals that were in late stage. We did have a little delay when we were releasing the privacy technology, but those weren't lost deals. We just had a little push in terms of a delay in delivering. But that's like the DNA of these large deals. And it's no different than when I worked at Oracle or any other of these large enterprises where we're still trying to take down big cybersecurity initiatives.

所以這需要時間，我們已將其納入交易週期。我們說是六到九個月之間。我們正處於這個時間範圍內，對於一些處於後期階段的交易，需要六到九個月的時間。我們在發布隱私技術時確實遇到了一點延遲，但這並不是失去的交易。我們只是在交付方面稍微延遲了一些。但這就像是這些大型交易的 DNA。這與我在 Oracle 或其他大型企業工作時的情況沒有什麼不同，我們仍在努力推翻大型網路安全計畫。

That's great. Thank you very much. (Event Instructions)

那太棒了。非常感謝。（活動須知）

Yes (Operator Instructions)

是的（操作員指示）

(Event Instructions) Rhon, we have another question. Can you talk a little bit more about the progress we're making with channel partners and how you see that moving forward in the future?

（活動說明）Rhon，我們還有一個問題。您能否進一步談談我們與通路夥伴所取得的進展以及您對未來發展的看法？

Yeah. Thanks for your question. Channel partners for us is just super special. There's two types of channel partners that we look at. One is the OEM partner who says, hey, listen, we know biometrics are going to be used. We are lacking biometrics in our platform. We're not going to go and buy one. I'm sorry, we're not going to go buy a company and we're not going to go build one. So the best thing to do is partner with the best in the marketplace, integrate it into our platform and offer it to our customers.

是的。謝謝你的提問。通路夥伴對我們來說非常特別。我們專注於兩種類型的通路合作夥伴。一個是 OEM 合作夥伴，他說，嘿，聽著，我們知道將會使用生物辨識技術。我們的平台缺乏生物辨識技術。我們不會去買一個。抱歉，我們不會去收購一家公司，也不會去創建一家公司。因此，最好的方法是與市場上最好的公司合作，將其整合到我們的平台並提供給我們的客戶。

We love those deals because it doesn't require my sales team to go after them. It's built into their platform. They have their own sales team to go after them, and then they can go and sell to their own customer. So for us, we love those opportunities and we have spun up several of those OEM opportunities, including the India announcement that we just made. And we're about to sign up a couple more. So very excited about that OEM channel partner opportunity.

我們喜歡這些交易，因為它們不需要我的銷售團隊去追求。它內建在他們的平台中。他們有自己的銷售團隊來負責銷售，然後他們可以向自己的客戶進行銷售。因此，對於我們來說，我們喜歡這些機會，我們已經獲得了幾個 OEM 機會，包括我們剛剛發布的印度公告。我們即將簽約更多人。我對 OEM 通路合作夥伴機會感到非常興奮。

On the other side of the partner channel is those that want to resell our technology and they refer customers and clients. So we've actually had several partners already start to turn in more of their clients into us, referring their clients into us saying, hey, this client wants to use the authID technology. They go ahead and they set us up with their customer. They introduce us. Even this morning, we just had a phenomenal one where partner introduced us to a client. We got warmed intro because the client already had vetted the partner, the partner trust authID. So it was a very warm introduction. So the channel partnership business has been going very well. And I think it's going to help lead to some of the larger big deals that we've been talking about.

合作夥伴管道的另一端是想要轉售我們技術的人，他們會推薦客戶和客戶。因此，我們實際上已經有幾個合作夥伴開始將更多的客戶轉交給我們，將他們的客戶介紹給我們，說，嘿，這個客戶想要使用 authID 技術。他們繼續前進，並為我們安排了他們的客戶。他們給我們介紹。甚至今天早上，我們還遇到了一個非常了不起的事情，合夥人把我們介紹給了一位客戶。我們得到了熱情的介紹，因為客戶已經審查了合作夥伴，合作夥伴信任的授權ID。所以這是一個非常熱情的介紹。因此通路合作業務進展非常順利。我認為這將有助於促成我們一直在談論的一些更大的交易。

Okay. Well, thank you, Rhon. That seems to be all the questions we have right now. So perhaps you'd like to wrap it up.

好的。好吧，謝謝你，Rhon。這似乎就是我們現在所有的問題。所以也許你想結束它。

Fantastic. Well, thank you everyone for joining us. We'd like to thank you all for listening today, listening to the call. Look forward to speaking with you all when we report our first-quarter results for 2025. And again, thank you for joining us. Have a nice day.

極好的。好吧，謝謝大家加入我們。我們感謝大家今天的收聽，聆聽我們的電話。期待在我們報告 2025 年第一季業績時與大家交談。再次感謝您的參與。祝你今天過得愉快。

Thank you. And ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time.

謝謝。女士們、先生們，今天的電話會議到此結束。現在您可以斷開線路。

Thank you for your participation.

感謝您的參與。