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Business Wire
3 days ago
- Business
- Business Wire
Intellicheck Announces Record Second Quarter 2025 Financial Results
MELVILLE, N.Y.--(BUSINESS WIRE)-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering on-demand digital and physical identity validation solutions, today announced its financial results for the second quarter ended June 30, 2025. Total revenue for the second quarter ended June 30, 2025 grew 10% to a record $5,123,000 compared to $4,672,000 in the same period of 2024. SaaS revenue increased 10% and totaled $5,080,000 compared to $4,627,000 in the same period of 2024. 'Intellicheck has achieved another record quarter successfully expanding our presence in new and existing market verticals. We are particularly excited by the signing of multiple multiyear agreements with our most prominent financial services clients. This success underscores the value of our industry-leading identity verification technology, which is accelerating customer onboarding and importantly stopping fraud with a 99.975% decisioning success rate when using our technology. We believe no competitor has such accuracy. Looking ahead, we will continue to drive growth with a keen focus on our sales and marketing efforts,' said Intellicheck CEO Bryan Lewis. Gross profit as a percentage of revenues remained strong at 90%, in line with expectations, for the three months ended June 30, 2025 compared to 91% in the same period in 2024. Operating expenses for the three months ended June 30, 2025, which consist of selling, general and administrative expenses and research and development expenses, increased 10% to $4,898,000 for the second quarter of 2025 compared to $4,443,000 for the same period of 2024. Included within operating expenses for the second quarters of 2025 and 2024 were $202,000 and $72,000, respectively, of non-cash stock-based compensation expense. Net loss for the three months ended June 30, 2025 was ($251,000) or ($0.01) per diluted share compared to a net loss of ($127,000) or ($0.01) per diluted share for the same period in 2024. Adjusted EBITDA (earnings before interest and other income, provision for income taxes, sales tax accruals, depreciation, amortization, stock-based compensation expense and certain non-recurring charges) improved by $145,000 to $75,000 for the second quarter of 2025 as compared to a loss of ($70,000) for the same period of 2024. A reconciliation of net loss to adjusted EBITDA is provided in this release. As of June 30, 2025, the Company had cash and cash equivalents that totaled $8.6 million and stockholders' equity totaled $18.0 million. Conference Call Information The Company will hold an earnings conference call today, August 12, 2025 at 4:30 p.m. ET/1:30 p.m. PT to discuss operating results. To listen to the earnings conference call, please dial 877-407-8037. For callers outside the U.S., please dial 201-689-8037. A replay of the conference call will be available shortly after completion of the live event. To listen to the replay, please dial 877-660-6853 and use conference identification number 13754628. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13754628. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until August 19, 2025. INTELLICHECK, INC. UNAUDITED CONDENSED STATEMENTS OF OPERATIONS OR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (in thousands, except share and per share amounts) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 REVENUES $ 5,123 $ 4,672 $ 10,017 $ 9,352 COST OF REVENUES (523 ) (444 ) (1,025 ) (879 ) Gross profit 4,600 4,228 8,992 8,473 OPERATING EXPENSES Selling, general and administrative 3,535 3,608 6,988 7,544 Research and development 1,363 835 2,650 1,653 Total operating expenses 4,898 4,443 9,638 9,197 Loss from operations (298 ) (215 ) (646 ) (724 ) OTHER INCOME AND EXPENSE Other income, net 47 88 77 157 Total other income, net 47 88 77 157 Net loss before provision for income taxes (251 ) (127 ) (569 ) (567 ) Provision for income taxes — — — 2 Net loss $ (251 ) $ (127 ) $ (569 ) $ (569 ) PER SHARE INFORMATION Loss per common share - Basic/Diluted $ (0.01 ) $ (0.01 ) $ (0.03 ) $ (0.03 ) Weighted average common shares used in computing per share amounts - Basic/Diluted 19,795,189 19,460,351 19,357,364 19,380,605 Expand INTELLICHECK, INC. UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (in thousands, except share amounts) Three months ended June 30, 2025 Common Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders' Equity BALANCE, March 31, 2025 19,816,043 $ 19 $ 152,390 $ (134,801 ) $ 17,608 Stock-based compensation – – 202 – 202 Stock option exercises, net of cashless exercises 181,256 1 445 – 446 Issuance of shares for vested restricted stock grants 28,544 – – – – Net loss – – – (251 ) (251 ) BALANCE, June 30, 2025 20,025,843 $ 20 $ 153,037 $ (135,052 ) $ 18,005 Expand Three months ended June 30, 2024 Common Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders' Equity Stock-based compensation – – 256 – 256 Stock option exercises, net of cashless exercises 4,875 – – – – Issuance of shares for vested restricted stock grants 83,266 – – — — Net loss – – – (127 ) (127 ) BALANCE, June 30, 2024 19,492,702 $ 19 $ 151,422 $ (134,134 ) $ 17,307 Expand INTELLICHECK, INC. UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024 (in thousands, except share amounts) Six months ended June 30, 2025 Common Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders' Equity Stock-based compensation – – 381 – 381 Stock option exercises, net of cashless exercises 181,256 1 445 – 446 Issuance of shares for vested restricted stock grants 62,276 – – – – Net loss – – – (569 ) (569 ) BALANCE, June 30, 2025 20,025,843 $ 20 $ 153,037 $ (135,052 ) $ 18,005 Expand Six months ended June 30, 2024 Common Stock Additional Paid-in Capital Accumulated Deficit Total Stockholders' Equity Stock-based compensation – – 600 – 600 Stock option exercises, net of cashless exercises 4,875 – – – – Issuance of shares for vested restricted stock grants 133,492 – – – – Net loss – – – (569 ) (569 ) BALANCE, June 30, 2024 19,492,702 $ 19 $ 151,422 $ (134,134 ) $ 17,307 Expand INTELLICHECK, INC. UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024 Six months ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (569 ) $ (569 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities Depreciation and amortization 325 145 Stock-based compensation 379 405 Credit loss expense 47 18 Changes in assets and liabilities: Decrease in accounts receivable 1,920 1,371 (Increase) Decrease in other current assets and other assets (94 ) 47 (Decrease) in accounts payable and accrued expenses (161 ) (1,318 ) Increase (Decrease) in deferred revenue 2,037 (411 ) Net cash provided by (used in) operating activities 3,884 (312 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (22 ) (19 ) Proceeds from maturity of short-term investments — 5,000 Software development costs (210 ) (1,389 ) Net cash (used in) provided by investing activities (232 ) 3,592 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercises of stock options 445 — Repayment of insurance financing arrangements (190 ) — Net cash provided by financing activities 255 — Net increase in cash 3,907 3,280 CASH, beginning of period 4,666 3,980 CASH, end of period $ 8,573 $ 7,260 Supplemental disclosures of cash flow information: Cash paid for interest $ (4 ) $ — Cash paid for income taxes $ — $ — Expand Adjusted EBITDA We use Adjusted EBITDA as a non-GAAP financial performance measurement. Adjusted EBITDA is calculated by adjusting net loss for certain reductions such as interest and other income and certain addbacks such as income taxes, depreciation, amortization, and stock-based compensation expense. Adjusted EBITDA is provided to investors to supplement the results of operations reported in accordance with GAAP. Management believes that Adjusted EBITDA provides an additional tool for investors to use in comparing our financial results with other companies that also use Adjusted EBITDA in their communications to investors. By excluding non-cash charges such as amortization, depreciation, and stock-based compensation, as well as non-operating charges for interest and income taxes, investors can evaluate our operations and can compare the results on a more consistent basis to the results of other companies. In addition, Adjusted EBITDA is one of the primary measures management uses to monitor and evaluate financial and operating results. We consider Adjusted EBITDA to be an important indicator of our operational strength and performance of our business and a useful measure of our historical operating trends. However, there are significant limitations to the use of Adjusted EBITDA since it excludes interest and other income and stock-based compensation expense, all of which impact our profitability, as well as depreciation and amortization related to the use of long-term assets which benefit multiple periods. We believe that these limitations are compensated by providing Adjusted EBITDA only with GAAP net loss and clearly identifying the difference between the two measures. Consequently, Adjusted EBITDA should not be considered in isolation or as a substitute for net loss presented in accordance with GAAP. Adjusted EBITDA as defined by us may not be comparable with similarly named measures provided by other entities. Adjusted Gross Profit We use Adjusted Gross Profit as a non-GAAP financial performance measurement. Adjusted Gross Profit is calculated by adjusting gross profit for the reduction of amortization expense. Adjusted Gross Profit is provided to investors to supplement the results of operations reported in accordance with GAAP. We believe Adjusted Gross Profit is important because it focuses on the current operating performance, as amortization expense does not accurately reflect the current costs required to maintain the operational usage of our service. Rather, amortization expense reflects the allocation of historical software development costs over their estimated useful lives. As an indicator of our operating performance, Adjusted Gross Profit should not be considered an alternative to, or more meaningful than, gross profit as determined in accordance with GAAP. Our Adjusted Gross Profit may not be comparable to a similarly titled measure of another company because other entities may not calculate Adjusted Gross Profit in the same manner. About Intellicheck Intellicheck, the industry leader in identity verification management, prevents the use of unauthorized IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 99.75% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube. Safe Harbor Statement Statements in this news release about Intellicheck's future expectations, including: the advantages of our products, future demand for Intellicheck's existing and future products, whether revenue and other financial metrics will improve in future periods, whether Intellicheck will be able to execute its turn-around plan or whether successful execution of the plan will result in increased revenues, whether sales of our products will continue at historic levels or increase, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, whether there will be any impact on sales and revenues due to an epidemic, pandemic or other public health issue and all other statements in this release, other than historical facts, are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like 'anticipate,' 'assume,' 'believe,' 'continue,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'plan,' 'potential,' 'predict,' 'project,' 'sense', 'strategy,' 'target' and similar terms, and future or conditional tense verbs like 'could,' 'may,' 'might,' 'should,' 'will' and 'would' are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care and auto dealerships; customer results achieved using our products in both the short and long term; success of future research and development activities; the impact of inflation on our business and customer's businesses and any effect this has on economic activity with our customer's businesses; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to the our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information.
Business Wire
06-08-2025
- Business
- Business Wire
Intellicheck CEO Bryan Lewis To Present at the Sidoti Micro-Cap Virtual Conference on August 20 th
MELVILLE, N.Y.--(BUSINESS WIRE)--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation solutions, today announced that CEO Bryan Lewis will present at the Sidoti Micro-Cap Virtual Conference taking place on August 20-21, 2025. Joining him at the conference will be CFO Adam Sragovicz. The presentation will begin at 10:45 a.m. ET on Wednesday, August 20 th. Intellicheck CEO Lewis and CFO Sragovicz will also host virtual one-on-one meetings with investors on August 20 th and 21 st, 2025. To register to view the presentation or to schedule one-on-one meetings, visit Sidoti Investor Conferences — SIDOTI & Company. Registration is free and participants do not need to be a Sidoti client. About Intellicheck Intellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube.
Yahoo
17-07-2025
- Business
- Yahoo
Intellicheck To Announce Second Quarter 2025 Financial Results on August 12, 2025
Conference Call at 4:30 p.m. ET/1:30 p.m. PT MELVILLE, N.Y., July 17, 2025--(BUSINESS WIRE)--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation solutions, will report financial results for the second quarter ended June 30, 2025 on August 12, 2025 after the close of the U.S. stock markets. The Company will hold an earnings conference call on August 12 at 4:30 p.m. ET/1:30 p.m. PT to discuss operating results. To listen to the earnings conference call, please dial 877-407-8037. For callers outside the U.S., please dial 201-689-8037. A replay of the conference call will be available shortly after completion of the live event. To listen to the replay, please dial 877-660-6853 and use conference identification number 13754628. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13754628. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until August 19, 2025. About IntellicheckIntellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube. View source version on Contacts Intellicheck Investor Relations: Gar Jackson (949) 873-2789/ gjackson@ Intellicheck Media and Public Relations: Sharon Schultz (302) 539-3747/ sschultz@
Business Wire
17-07-2025
- Business
- Business Wire
Intellicheck To Announce Second Quarter 2025 Financial Results on August 12, 2025
MELVILLE, N.Y.--(BUSINESS WIRE)-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation solutions, will report financial results for the second quarter ended June 30, 2025 on August 12, 2025 after the close of the U.S. stock markets. The Company will hold an earnings conference call on August 12 at 4:30 p.m. ET/1:30 p.m. PT to discuss operating results. To listen to the earnings conference call, please dial 877-407-8037. For callers outside the U.S., please dial 201-689-8037. A replay of the conference call will be available shortly after completion of the live event. To listen to the replay, please dial 877-660-6853 and use conference identification number 13754628. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13754628. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until August 19, 2025. About Intellicheck Intellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube.
Yahoo
04-06-2025
- Business
- Yahoo
Intellicheck Now Integrates with Ping Identity's PingOne DaVinci to Advance Access to Industry-Leading Identity Verification
MELVILLE, N.Y., June 04, 2025--(BUSINESS WIRE)--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering proprietary on-demand digital and physical identity validation technology solutions, announced a new integration with Ping Identity, a leader in securing digital identities for the world's largest enterprises, leveraging PingOne DaVinci™, a no-code identity orchestration service. The strategic relationship provides another channel to access Intellicheck's unique identity verification technology that enables the rapid onboarding of good clients while providing the highest level of security. Intellicheck joins a growing network of technology partners developing integrations with DaVinci through the Ping Identity Global Technology Partner Program. Partner solutions that integrate with DaVinci deliver an improved customer experience in a fraction of the time, through easy drag-and-drop design of digital user journeys across multiple applications and ecosystems. Intellicheck's state-of-the-art technology solutions deliver an unparalleled level of security and a frictionless customer experience while seamlessly fitting into existing workflows using existing technology, scanning devices or Intellicheck's mobile app. Intellicheck CEO Bryan Lewis said the integration partnership with Ping Identity underscores the Company's commitment to continue to expand opportunities for businesses to benefit from the most effective identity verification technology solutions available. "Our technology is a game changer. Businesses utilizing Intellicheck's innovative technology solutions experience an unmatched level of security that protects them and all consumers with the added advantage of increased revenue generation capabilities as it accelerates the onboarding of good customers," said Intellicheck CEO Bryan Lewis. "Ping Identity is committed to expanding our technology partner ecosystem to deliver better, more frictionless customer experiences," said Loren Russon, the SVP of product management at Ping Identity. "Our collaboration with Intellicheck leverages DaVinci's seamless orchestration to ensure dynamic user journeys are delivered quickly and efficiently at every stage of the user journey." For more information on Intellicheck's work with Ping Identity visit Intellicheck. About IntellicheckIntellicheck, the industry leader in identity verification management, prevents the unauthorized use of IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 100% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube. View source version on Contacts Media and Public Relations: Sharon Schultz (302) 539-3747 / sschultz@ Investor Relations: Gar Jackson (949) 873-2789 / gjackson@ Sign in to access your portfolio
