Business DiversificationYear over year revenue growth of 27.7% highlights the progress the company has made in diversifying away from the retail channel.
Cost EfficiencyIDN has also now migrated 100% of its clients to the AWS platform with no further capitalization expenses, anticipating annual savings exceeding $380K going forward.
New Market OpportunitiesThe longer term opportunity for ID authentication, both within financial services and potential new markets in healthcare, auto, and real estate, all at more than 90.0% gross margins, warrants significant multiple expansion over time.