**CID Holdco, Inc. Reports Financial Results in Form 10-K Filing**
CID Holdco, Inc., formerly known as SEE ID Inc., filed its annual report on Form 10-K, revealing its financial performance and strategic developments. The company, which specializes in asset tracking solutions, reported revenue of $5.8 million for the fiscal year ended December 31, 2025, a significant increase from $172,661 in the previous year. Cost of goods sold also increased substantially to $3.1 million, compared to $43,634 in 2024, resulting in a gross profit of $2.7 million and a gross margin of 46.0%. The company attributed the revenue growth to higher hardware sales, which are often the initial step in customer adoption of their SaaS subscription platform.
Operating expenses for CID Holdco also saw considerable changes. Research and development expenses increased to $1.4 million, while sales and marketing expenses rose to $3.7 million. General and administrative expenses experienced a substantial increase to $6.8 million, primarily due to increased labor costs and expenses related to operating as a public company. The company reported a net loss of $36.7 million for 2025, compared to a net loss of $21.5 million in 2024, with the increased loss largely attributed to a $17.4 million change in the fair value of SAFE notes and a $5.7 million loss on debt extinguishment.
Key operational developments included the completion of a business combination with ShoulderUp Technology Acquisition Corp. on June 18, 2025, and a $10.8 million private placement (PIPE) investment. The company also entered into a $50 million equity line of credit agreement with New Circle Principal Investments LLC, drawing $555,016 from it during the year. As of December 31, 2025, CID Holdco had 68 full-time equivalent employees across its locations in Las Vegas, Bethesda, Worcester, and Manati, Puerto Rico.
The filing also included a going concern warning, with the company acknowledging substantial doubt about its ability to continue as a going concern due to recurring losses and a working capital deficit. CID Holdco plans to address this by raising additional capital and improving cash flow from operations. The company is also focusing on strategic initiatives such as customer acquisition, expansion within its existing customer base, and international expansion to drive future growth.
About CID Holdco, Inc.
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