Rhoniel Daguro
authIDAbout Rhoniel Daguro
Rhoniel A. Daguro is authID’s Chief Executive Officer and a director, appointed CEO on March 23, 2023 after joining the Board on March 9, 2023. He is 50, with over 20 years in sales, marketing, technology and venture roles, including CRO at Socure (2018–2022) and prior executive sales positions at Persistent Systems, Hortonworks and Oracle . Under his tenure, Q3 2025 gross revenue was $0.6M vs $0.2M YoY, net loss was $(5.2)M, Adjusted EBITDA loss was $(4.1)M, and ARR reached $1.7M vs $1.0M YoY .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Socure Inc. | Chief Revenue Officer | 2018–2022 | Scaled identity verification go-to-market; relevant expertise for authID’s biometric authentication strategy |
| Persistent Systems | Executive sales roles | Not disclosed | Enterprise sales leadership; GTM experience |
| Hortonworks | Executive sales roles | Not disclosed | Big data ecosystem sales; partnerships and pipeline development |
| Oracle | Executive sales roles | Not disclosed | Large enterprise software sales and channels |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed | — | — | — |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (Amount) | Actual Bonus Paid ($) | Option Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2024 | 400,000 | Up to 375,000 (milestone-based; ≈94% of base) | 300,000 | — | 13,800 | 713,800 |
| 2023 | 310,769 | Up to 375,000 (milestone-based; ≈94% of base) | 225,000 | 1,185,100 | 8,000 | 1,728,869 |
Performance Compensation
| Year | Metric | Target Structure | Actual (Bookings) | Payout ($) | Vesting |
|---|---|---|---|---|---|
| 2023 | Bookings (TCV less clawbacks) | $75k per $1M increments up to $5M; then $75k per $4M increments up to $17M | Not disclosed | 225,000 | Options granted vesting subject to performance and service conditions |
| 2024 | Bookings (TCV less clawbacks) | Same as above | Not disclosed | 300,000 | Options vesting tied to performance and service conditions |
Equity Ownership & Alignment
| As-of Date | Total Beneficial Ownership (shares) | Ownership % | Direct Shares | Options Outstanding | Notes |
|---|---|---|---|---|---|
| May 5, 2025 | 466,181 | 3.4% (out of 13,070,680 outstanding) | 24,833 | 490,000 (306,875 @ $3.176; 183,125 @ $5.48; vesting on performance/service) | 441,348 options projected vested by July 5, 2025 |
Outstanding equity awards detail (as of Dec 31, 2024):
| Grant | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| Stock Option (Initial Grant) | 229,134 | 77,741 | 3.18 | 4/10/2033 |
| Stock Option (Additional Grant) | 127,157 | 55,968 | 5.48 | 6/28/2033 |
Additional alignment/pressure indicators:
- Rule 10b5-1 plans: No director or officer adopted or terminated a Rule 10b5-1 or non-Rule plan during nine months ended Sep 30, 2025 .
- Pledging/hedging: No pledging disclosure identified; company-wide clawback policy adopted Oct 6, 2023, covering incentive-based compensation after accounting restatements .
Employment Terms
| Item | Daguro Terms |
|---|---|
| Start dates | Director March 9, 2023; CEO March 23, 2023 |
| Base salary | $400,000 initial annual salary |
| Bonus plan | Annual target up to $375,000 with milestone-based structure tied to Bookings (TCV less clawbacks) |
| Equity | Two option grants totaling 490,000 shares, 10-year term, strike prices $3.176 and $5.48, vesting on performance and service conditions |
| Severance/Change-of-Control | Upon termination upon a change of control or an involuntary termination: 100% of base salary, actual unpaid prior-year bonus, any earned unpaid bonus pre-termination; COBRA reimbursement up to 12 months; accelerated vesting of equity awards |
| Clawback | Nasdaq-compliant policy adopted Oct 6, 2023 for recovery of erroneously awarded incentive compensation after restatements |
Board Governance
- Board service history and roles: Director since March 9, 2023; currently also CEO; member of the Governance Committee (committee indicator “(2)” next to his name) .
- Leadership structure: CEO and Chair roles separated since 2021, but after the Chair’s resignation on Feb 20, 2024, the Company had not appointed a new Chair; Daguro chairs meetings of the Directors, with a Lead Independent Director (Michael L. Koehneman) providing counterbalance .
- Independence oversight: Majority independent Board; Audit and Compensation Committees comprised of independent directors; committee charters posted and active (Audit held 4 meetings; Compensation held 2 meetings in 2024) .
Director Compensation
| Year | Cash | Equity | Notes |
|---|---|---|---|
| 2023 | $2,000 (pre-CEO period director compensation) | — | As an executive director, not eligible for non-employee director retainer; non-employee policy set at $8,000 cash ($10,000 for chairs) plus ~$117,000 in annual options from Aug 2024 policy update . |
Related Party Transactions and Conflicts
- The Pipeline Group (TPG): Outsourced sales services; director Ken Jisser is TPG’s founder/CEO, and director Kunal Mehta later became an officer at TPG; fee reduced from $70,000/month to $42,000/month effective Oct 1, 2025; expenses $210k for Q3 2025 and $630k for 9M 2025; new agreement for authID to provide biometric authentication services to TPG (annual license $2,500; monthly minimum ramping to $1,000) .
- Family employment: Since June 2023, Dale Daguro (brother of CEO) employed as VP Sales; at-will; earned ~$77k base salary and commissions in Q3 2025 and ~$227k for 9M 2025 .
Performance & Track Record
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Gross revenue ($M) | 0.2 | 0.6 |
| Net revenue ($M) | 0.2 | (0.1) |
| Operating expenses ($M) | 3.8 | 5.1 |
| Net loss ($M) | (3.4) | (5.2) |
| Adjusted EBITDA loss ($M) | (2.9) | (4.1) |
| ARR ($M, period-end) | 1.0 | 1.7 |
Selected operational highlights during 2025:
- Signed full production agreement with a top-20 global retailer in Europe following successful live trial, initially for back-office workforce with potential retail store expansion .
- Launched Identity Exchange (IDX) with NESIC to bind human identity to AI Agents, expanding TAM in identity management and Agentic AI .
Investment Implications
- Pay-for-performance alignment: CEO cash incentive formula explicitly ties payouts to Bookings milestones; bonus earned in 2023–2024 reflects sales execution rather than GAAP profitability, aligning near-term incentives with growth/contracting but risking misalignment if collections or go-live timing slip .
- Equity alignment and potential selling pressure: Significant vested options (projected 441,348 by July 5, 2025) may create future selling overhang; however, no Rule 10b5-1 plan changes in 9M 2025 and no pledging disclosures reduce immediate forced-selling risk .
- Retention and change-of-control economics: 1x base salary plus bonus and 12 months COBRA with accelerated vesting upon termination tied to change of control or involuntary termination provides moderate protection; acceleration could be value-dilutive in an acquisition scenario if equity awards are large .
- Governance watchpoints: CEO chairs Board meetings in absence of a Chair, mitigated by a Lead Independent Director and independent committees; continued Chair vacancy elevates independence concerns and should be monitored .
- Related-party exposure: TPG arrangements and family employment introduce conflict-of-interest optics; fee reductions and disclosure mitigate but investors should monitor services efficacy, pricing, and Board oversight .
- Execution risk: Despite ARR growth and enterprise wins, Q3 2025 net revenue was negative due to concessions; adjusted EBITDA losses widened, indicating continued cash burn and the need for disciplined sales ramp-to-revenue conversion .