authID Signs $2 Million Agreement with EinStrong Foundation

DENVER, October 6, 2026 - authID (Nasdaq: AUID) has entered into a $2 million agreement with the EinStrong Charitable Foundation. The deal combines a technology license with new biometric de-duplication functionality and engineering support.

The EinStrong Foundation, a not-for-profit organization established in 2019 and headquartered in Southern California, paid $1 million for a non-exclusive license to authID's biometric identity technology. The foundation committed an additional $1 million for the development of new biometric de-duplication capabilities and ongoing engineering support. These funds will enable the further development of ESi, EinStrong's universal ID system.

EinStrong utilizes authID's technology to verify the identities of recipients for direct cash transfer programs targeting underprivileged populations, including single mothers living in poverty. The foundation states that the biometric verification process ensures funds are distributed only to eligible recipients while preventing fraud. The organization's broader mission includes alleviating poverty, supporting sustainable livelihoods, and assisting childhood education across multiple continents.

Thomas Szoke, CEO of authID, stated that the partnership has influenced the company's product development over the past two years. Szoke noted that the collaboration has inspired designers and developers to enhance the technology to deter fraudsters and duplicate entries. He reported that authID has reduced its monthly cash operating expenses by roughly 40% compared to the first quarter of 2026. According to Szoke, this reduction provides a leaner financial base for the fourth quarter, offering leverage as the business grows. He emphasized the company's commitment to disciplined execution for its customers and shareholders.

Steven Cho, Chief Operating Officer of EinStrong, commented that the use of authID's biometric platform over the last two years has provided sponsors with confidence that donations reach individuals in need. Cho stated that deepening the investment and partnership with authID will allow EinStrong to extend its innovation and achieve greater impact as it scales its operations.

The agreement is structured as a technology licensing, services, and support contract. EinStrong's proprietary app allows donors to provide direct cash donations, bypassing typical obstacles to philanthropy. AuthID's platform verifies user identity through biometric authentication, claiming a false match rate of 1 to 1 billion and processing times of 700 milliseconds. The company states that it stores no biometric data, ensuring privacy protection and regulatory compliance. The EinStrong Foundation aims to benefit one billion people globally within the next five to ten years, with support from individuals and organizations in Asia and Europe.