viewIpsidy Inc.

Ipsidy posts narrower 2Q loss after launch of web browser-based service, the Identity Portal

The company reported a net loss of nearly $2.2 million, better than the almost $2.5 million posted in 2018

Facial recognition technology
During the quarter, the company launched a new web browser-based service, known as the Identity Portal

Ipsidy Inc (OTCMKTS:IDTY), an Identity-as-a-Service company, posted second quarter results after the bell Monday that saw narrower losses although revenues declined.

The firm reported a net loss of nearly $2.2 million, better than the almost $2.5 million loss seen in 2018. On a per share basis, its loss shrank from $0.01 per share to breakeven.

The company posted revenue of $628,905, well below the $1.8 million it brought in a year ago which was boosted by a one-time deal with the Zimbabwe Electoral Commission to supply its automated fingerprint identification system.

READ: Ipsidy unveils its biometric Identity Portal security platform

During the quarter, the company launched a new web browser-based service, known as the Identity Portal. It offers full versions of the company’s identity offerings, Proof and Verified. 

With Proof, the company can collect identification documents from anywhere in the world using a mobile app, which allows a driver’s license or passport to then be used for facial matching. Verified, meanwhile, lets businesses receive biometric authentication from their customers to approve transactions, simply by having them take a selfie on their phone.

"We believe that we can build on Ipsidy's established presence in Latin America in an effective way, to provide our solutions to this important market,” CEO Philip Beck said in a statement  

“We look forward to growing our platform revenue with more customers and users over the coming year, as we focus in on our active sales pipeline.”

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Ipsidy Inc.

Price: 0.094875 USD

Market: OTCQB
Market Cap: $49.59 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ipsidy Inc. named herein, including the promotion by the Company of Ipsidy Inc. in any Content on the Site, the Company receives from said...



Ipsidy's new CEO excited to join biometrics firm during its inflection point

Ipsidy Inc (OTCQB:IDTY) CEO Phillip Kumnick tells Proactive the former Visa Inc (NYSE:V) executive has been appointed new CEO of the company, while former CEO Philip Beck will continue as chairman of the board. Kumnick says the New York-based company has also brought on Philip Broenniman as...

3 weeks, 1 day ago

2 min read