Ipsidy announces 2018 results
11 March 2019 17:22 GMT

Identity as a Service (IDaaS) platform Ipsidy, which delivers a suite of mobile, biometric identity solutions has announced its results for the year ended December 31, 2018.

Total revenue for the year ended December 31, 2018 was $3.8 million compared to $2.3 million for the year ended December 31, 2017.

Net loss for the year ended December 31, 2018 was $10.0 million compared to a net loss of $17.5 million for the year ended December 31, 2017.  In 2017, there was a negative impact of $4.1 million from the elimination of debt and modification of warrants.

The loss from operations was $9.3 million in 2018 compared to $12.0 million in 2017.
Basic and fully diluted net loss per share for the year ended December 31, 2018 was $0.02 cents compared to $0.05 cents for the year ended December 31, 2017.

Adjusted EBITDA loss for the year ended December 31, 2018 was $6.0 million compared to an Adjusted EBITDA loss of $5.7 million for the year ended December 31, 2017, as the Company invested in the technical and operational resources required to support on-going and future operations.

Secured approximately $9.6 million of additional equity investment and prepaid $1.2 million of debt and interest.

Total liabilities reduced to $3.6 million as of December 31, 2018, compared to liabilities of $4.1 million as of December 31, 2017, and stockholders' equity increased to $14.6 million as of December 31, 2018, compared to stockholders' equity of $12.9 million as of December 31, 2017.