Good day, thank you for standing by. Welcome to the authID first quarter 2026 earnings conference call. At this time, all participants are in a listen only mode. After the speaker's presentation, there'll be a question and answer session. Please be advised today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Graham Arad, General Counsel. Please go ahead. Thank you, operator. Welcome to the authID first quarter 2026 results conference call. As a reminder, this conference is being recorded. Joining me on today's call are our CEO, Rhon Daguro, and our CFO, Ed Sellitto. By now, you should have access to today's press release announcing our first quarter 2026 results. If you have not received this, the release can be found on our website at investors.authid.ai under the news and events section. 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 to 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. 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-Q for the first quarter ended March 31, 2026, and other filings which are made available at www.sec.gov. I'd now like to introduce our CEO, Rhon Daguro. Thank you, Graham, and thank you all for joining us today. Q1 2026 represents an inflection point for authID. Rather than simply reporting incremental progress, the company executed a deliberate and multidimensional strategy, simultaneously strengthening the balance sheet, restructuring the cost base, advancing its technology, and deepening its enterprise pipeline. The compounding effect of these actions is expected to materially improve our business performance across the remaining three quarters of fiscal 2026 and position the company for a substantially stronger entry into fiscal year 2027. The compounding effect of these actions is expected to materially improve our business performance across the remaining three quarters of fiscal 2026 and position the company for a substantially stronger entry into fiscal year 2027. In late April 2026, authID secured $4.2 million in bridge loan financing, enabling the company to continue advancing its engagements with some of the largest enterprises in the world, organizations that operate on long procurement cycles and rigorous vendor evaluation. These are not sprint to close engagements. They are structured, deliberate evaluations with high value outcomes. The bridge financing ensures that authID continues to work with these organizations for the duration of their evaluation and decision-making. It also allows the company to work on converting its pipeline into contracted revenue. Additionally, as communicated in our recent financing press release, our financial advisors continue to actively evaluate a broader range of strategic opportunities, including capital markets initiatives, partnership structures, and other alternatives aimed at enhancing shareholder value and supporting long-term growth. Starting in Q2 2026, the company made a targeted reduction in operating expenses, yielding approximately $3.5 million in annualized savings. The company will realize this benefit during the remainder of 2026 and into 2027. This was a strategic reallocation of capital designed to concentrate resources on the highest value activities and preserve full operational and technical capacity from organizational efficiency achieved through the use of AI automation tools. Next, I'll provide an update on our technology and sales pipeline. Let me start with a recent technology milestone that customers have been asking for and I truly believe is one of the most significant announcements in our company's history. Last month, we launched the industry's first quantum-resistant biometric authentication platform, which is a technology milestone with significant commercial implications. Quantum computing is no longer a theoretical future risk. There's now commercially available quantum technology that is already capable of compromising conventional encryption. The window for enterprises to harden their identity infrastructure against quantum threats is dramatically shrinking every day. authID's PrivacyKey platform addresses this threat through a dual layer approach: Layer one, NIST standard quantum resistant encryption algorithms. Layer two, cryptographic key sharding, which distributes key segments across separate storage locations, eliminating single point of failure vulnerabilities. Importantly, unlike other biometric systems, the authID platform generates and immediately destroys cryptographic keys and biometric data upon the transaction completion, meaning there is no stored biometric data to steal. Between these two approaches, we are ensuring defense against any single breach or insider attack. That is the heart of PrivacyKey. We believe we now offer the only biometric identity platform purpose-built to withstand quantum era threats, and we are ready to provide this solution to the market. It's incredibly powerful, and the deployment of this tech is completely transparent to the customer. The company is already in discussion with one of the world's largest banks regarding testing and deployment of this capability. Given the scale of potential enterprise contracts in the financial services sector, a single production win could represent transformative revenue to authID. I am pleased to report on another significant engineering achievement. Built to service not just domestic banking and other industries, but also to address regulatory requirements in the EU and around the world. We have added support for biometrically secured digital IDs, including mobile driver licenses. Per Juniper Research, the digital ID marketplace was $51 billion last year and will continue to grow. At the same time, there will be close to 150 million mobile driver licenses issued by 2030. AuthID can secure these digital IDs with biometric assurance while protecting user privacy. We have also included an even more powerful feature, verifiable credentials or VCs. These allow consumers to establish a biometric root of trust that helps them onboard to critical platforms such as banking, retail, and healthcare services in just two clicks. This is a game-changing onboarding process long awaited by the market, which is used to seeing 15 clicks to achieve the same result. Digital IDs with verifiable credentials represents the current demand by consumers wanting to control and secure their own online journey. We are already working with our partners to bring our solution to the market to address their customers' streamlined onboarding and verifiable credential demand. Looking at our sales. The forward revenue story for AuthID is anchored in its proof of concept pipeline. As of Q1 2026, the company is actively engaged with more than 12 prospective customers spanning retail, banking, fintech, crypto, industrial and chip manufacturing, and healthcare. These are not exploratory conversations. They are structured evaluations being conducted by household name enterprises that manage assets, transactions, and user bases comparable in scale to sovereign economies. There are four key dynamics worth highlighting. First, top-tier enterprise concentration. The pipeline includes top three companies in retailing, banking, and technology hardware. Winning even one of these represents a potentially company-defining contract. Second, rigorous evaluation process. The fact that these organizations are conducting thorough technical evaluations is a signal of commercial seriousness, not hesitation. When organizations of this scale engage in a proof of concept testing, they are evaluating vendors for long-term, high-value partnerships. Third, successful channel leverage. Nearly half of the largest pipeline accounts have been sourced through channel partners, including Formula5 and MajorKey, both Microsoft ecosystem specialists. This channel infrastructure dramatically reduces customer acquisition costs and accelerates access to regulated industry verticals. Fourth, cross-industry validation. The breadth of industries represented in the pipeline demonstrates that authID's biometric identity platform is not a single vertical solution. It is a horizontal infrastructure for enterprise identity assurance. The conversion of even a modest portion of this pipeline into production contracts during Q2 through Q4 2026 would represent a step change in future revenue. Given the recurring transactional-based nature of authID's revenue model, each new production customer adds to the company's compounding monthly revenue base. Now let me address our Q1 2026 financials. Q1 2026 continued to reflect meaningful progress in our revenue trajectory. We generated approximately $480,000 in revenue during the quarter, compared to approximately $296,000 in the same period last year, representing a year-over-year growth of approximately 62%. This growth reflects continued adoption by our existing enterprise customers and the ramp of new customer deployments we brought live over the past year. At the same time, we took specific steps to reduce our operating expenses while maintaining the full operational and technical capacity needed to serve our customers and advance our pipeline. I would like to leave you with the following. Looking at the full year of 2026 and into fiscal year 2027, the financial structure of authID is materially more favorable than it was entering 2026. This is based on six key structural improvements now in place. First, our revenue base grew 62% year-over-year, with production customers expanding transaction volumes. Second, we reduced our annualized cost structure by $3.5 million, improving burn efficiency moving forward. Third, $4.2 million in bridge financing is securing the runway to close active pipeline engagements. Fourth, a new release of quantum-resistant biometric authentication, a digital ID-enabled platform that is technologically ahead of the entire market. Fifth, a channel partner ecosystem generating nearly half of the top pipeline accounts. Sixth, conducting more than 12 active enterprise POCs with the potential for multiple production conversions in the second half of 2026. The combination of accelerating revenue, structural cost savings, and expanding enterprise pipeline creates the conditions for authID to reach cash flow sustainability and long-term financial independence. I will now hand it over to Ed Sellitto to walk us through the first quarter financials. Thank you, Rhon, and thank you all for joining us today. I'll now review the financial results for the first quarter of fiscal year 2026. Looking at our GAAP results, total revenue for Q1 was approximately $480,000 compared with $296,000 in Q1 of last year, and representing year-over-year growth of 62%. This increase reflects revenue from new enterprise customer contracts that have gone live over the past year. Operating expenses for the quarter were $5.0 million compared to $4.7 million in Q1 of last year. This is driven by $0.5 million in increased year-over-year stock-based compensation expense and also reflects the continued stabilization of our employee and vendor expenses. Going forward, we expect to realize more significant operating expense reductions as we start to see the benefits of the Q2 cost savings initiative that Rhon mentioned earlier. Net loss for Q1 2026 was $4.5 million, of which non-cash charges were approximately $1.0 million, primarily comprised of stock-based compensation. This compares to a net loss of $4.3 million in Q1 2025, of which non-cash charges were $0.5 million. Net loss per share for Q1 improved to $0.28 compared to $0.40 per share in Q1 of last year and remaining flat compared with the net loss of $0.28 per share we reported in Q4. Turning to RPO. Remaining performance obligation, or RPO, represents the minimum revenue expected to be recognized from our signed contracts based on our customers' contractual commitments. As of March 31, 2026, our total RPO was $2.0 million, down slightly from $2.2 million in Q4 due to the recognition of contracted revenue in Q1, which was greater than the new customer contract commitments signed in the quarter. We expect to resume RPO growth in the second half of 2026 as we work to complete proof of concept tests and close our key enterprise deals in the coming months. Onto our non-GAAP results. Adjusted EBITDA loss for Q1 2026 was $3.4 million compared to $3.9 million in Q1 2025, an improvement of $0.5 million year-over-year. This improvement reflects our continued focus on operating efficiency while maintaining the core capabilities needed to serve our customers and advance our pipelines. Next is annual recurring revenue, or ARR, which is defined as the amount of recurring revenue recognized during the last three months of the relevant period multiplied by four. ARR as of Q1 is $1.9 million compared to $1.8 million of ARR as of Q4 and $1.2 million for the same period last year. The year-over-year growth represents our continued efforts to sign and go live with established market leaders, including Prove Identity and the major global retailer signed last year. Turning to BAR, 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. The gross amount of BAR signed in Q1 was $0.08 million compared with $0.01 million of BAR signed in Q1 of last year. As previously explained during our quarterly earnings calls, BAR comprises two components, which we refer to as CAR and UAC. The Q1 2026 CAR, or committed annual recurring revenue, represents 38% of reported BAR. UAC, or estimated usage above commitment, is an estimate of the annual customer usage that will exceed contractual commitments. UAC represents the remaining 62% of reported Q1 BAR. Next, I'll revisit our progress aligned to the revenue growth stages we report each quarter. The first milestone we monitor is bookings as measured by BAR. As I just noted, Q1 2026 gross BAR was $0.08 million. We continue to see our pipeline progress through proof of concept evaluations and subsequent contract discussions. While the timeline for these larger enterprise deals continues to extend, the demand for our privacy-preserving biometric solutions is strong with these major enterprise prospects, and we remain committed to bringing these larger deals over the finish line in the remainder of 2026. The next milestone is our remaining performance obligation or RPO. Our Q1 2026 RPO of $2.0 million reflects our contracted customer commitments, and we expect this to grow in line with the additional enterprise deals that are signed later this year. Our third milestone is revenue recognized in accordance with GAAP. Our Q1 2026 revenue of approximately $480,000 represents 62% growth versus Q1 2025, continuing the trajectory of meaningful revenue expansion we've been building. As we called out in prior earnings calls, customer retention and expansion remains an important focus of ours, particularly in establishing that our customers get value from using our solutions. We're also pursuing multiple expansion opportunities with our customer base to explore new use cases and grow their scope of usage within their organizations. I'll conclude by noting that we ended Q1 with approximately $1.2 million in cash on hand. Cash used in operating activities was approximately $3.4 million for the quarter, compared with approximately $5.4 million in Q1 2025, a meaningful year-over-year improvement reflecting our initial efforts to reduce our expense base. We expect to see continued benefits from our recent Q2 expense reduction initiative. As Rhon noted, we also secured over $4 million in bridge financing in early Q2, which extends our runway as we continue to work towards closing the late-stage enterprise deals in our pipeline, as well as pursuing strategic opportunities that will enhance shareholder value and support long-term growth. With that, I'll turn it back to the operator. Thank you. Ladies and gentlemen, if you have a question or a comment at this time, please press star one one on your telephone. If your question has been answered or you wish to remove yourself from the queue, please press star one one again. We'll pause for a moment while we compile our Q&A roster. One moment for our first question. Our first question comes from Ricky Solomon with Wilmot. Your line is open. Ricky, if your line is muted, could you please unmute the line? Your line is open to ask a question. Can you hear me now? Sorry about that. Hey, Rhon, can you, if possible, give any more detail you're comfortable with about the POCs you're working on now? Yeah. Hey, Ricky. Thank you for the question. This is probably the more exciting part of what's been happening here at authID. These POCs, there's roughly about 20 of them that we have on target. These represent, I would say, the top three of every single vertical that they're in, which is super exciting. These are the biggest and the best household names of the bunch. I think the thing that's that we have to navigate through, and what we're really good at, is that these organizations are very thorough, and they have a very specific onboarding process for the vendors, and we've gone through all of that, which is exciting. We get to go head-to-head with the other competitors, which again, is very exciting for us because we know we're gonna do well. We're in that process today. This is the most amount of POCs we've ever been with this highest caliber of clients. We're looking forward to being able to knock those down here in the next couple of quarters. Okay, thanks. Again, ladies and gentlemen, if you have a question or a comment at this time, please press star one one on your telephone. One moment for our next question. Alan, do you want me to go ahead and remove him because he put us on mute, on hold? One moment for our next question. Our next question is a follow-up from Ricky Solomon with Wilmot. Wilmot, your line is open. Yeah, hi. Just one more question. Can you describe the state of our technology? You know, I know we have the quantum resistant press release and all that. Can you just compare, like, where we stand in terms of our technology stack compared to, say, who our nearest couple of competitors are, in going, you know, going for these POCs you're talking to? Yeah. Thanks again for that question as well. I'm actually glad you brought up the quantum because I wanted to expand on that. Over the last over the last two years, and you've known this, over actually the last three years, as authID has been trying to get into the enterprise and to kind of prove our enterprise worthiness and to be world-class, each of these RFPs and each of these organizations have always asked us about quantum. They knew that it was that it's coming, but it wasn't necessarily here yet. This is not a new thing for us. When we had built our technology and retooled it with PrivacyKey, we knew that PrivacyKey was geared up and ready for, was ready to be quantum resistant. Actually last couple weeks ago when we actually made that release in quantum resistant biometrics with PrivacyKey, we were super excited about this. Why is this super important in this space? Right now, there's two major trends that are converging. One is obviously AI, and that's actually been bringing authID to the forefront in terms of fraud and attacks on identity. The second one is the actual increase in compute in quantum. Why is quantum such a big deal? That is the technology that's gonna be able to break encryption. All modern-day encryption that we know today will be at risk to quantum computing. There was a release just three weeks ago, how open a publicly available quantum was able to break a 15-bit encryption. With that being said, it is actually right around the corner for us. authID was super excited to be able to notify our customers and then also notify the public that we just released our quantum-resistant biometrics. We're already in the forefront around privacy, but now we're gonna be on the forefront of being future-proofed against all quantum compute threats in the future. That definitely has then enhanced our platform. There's nobody in the space that we know of right now that has a purpose-built quantum-resistant biometric authentication solution. I assume they're gonna start to put that in place because they saw the news of the threats just three weeks ago. We've had it built in, and we're activating, and we're releasing to the marketplace for our customers. We're super excited about that. Thank you for the question. Again, ladies and gentlemen, if you have a question or a comment at this time, please press star one one on your telephone. I'm not showing any further questions. I'd like to turn the call back over to Rhon Daguro. Okay. Thank you. Thank you everyone for joining us today. If you have any further questions about our progress, please reach out to the investor handle, investor-relations@authid.ai. Look forward to speaking to you again. Thank you. Ladies and gentlemen, this does conclude today's presentation. We thank you for your participation. You may now disconnect and have a wonderful day.