Index UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File No.: 001-15465 (Exact name of Registrant as specified in its charter) Delaware 11-3234779 (State or Other Juri ...

Intellicheck Announces Record First Quarter 2025 Financial Results MELVILLE, NY - May 13, 2025 - 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 first quarter ended March 31, 2025. Total revenue for the first quarter ended March 31, 2025 grew 5% to a record $4,894,000 compared to $4,680,000 in the same period of 2024. SaaS revenue increased 6% and totaled $4,868,000 c ...

Planet MicroCap April 23, 2025 NASDAQ:IDN Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the forward-looking statements in this presentation reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be mat ...

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Intellicheck Mobilisa, Inc. (IDN) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Industrial Products sector should help us answer this question. Intellicheck Mobilisa, Inc. is one of 199 individual stocks in the Industrial Products sector. Collectively, these companies sit at #11 i ...

Revenue and Profitability - Revenues for the year ended December 31, 2024 increased by $1,091 or 6% to $19,997 compared to $18,906 for the year ended December 31, 2023, primarily driven by higher SaaS revenue[137] - SaaS revenues increased by $1,215 or 7% to $19,810 for the year ended December 31, 2024, compared to $18,595 for the year ended December 31, 2023[137] - Gross profit for the year ended December 31, 2024 was $18,166, representing a 4% increase from $17,531 in 2023, with gross profit margin decreasing to 90.8% from 92.7%[138] - Net loss for the year ended December 31, 2024 was $(918) or $(0.05) per share, an improvement from a net loss of $(1,980) or $(0.10) per share in 2023[141] - Adjusted EBITDA for the year ended December 31, 2024 was $520, compared to $377 in 2023, reflecting operational improvements[150] Operating Expenses and Cash Flow - Operating expenses decreased by $473 or 2.4% to $19,334 for the year ended December 31, 2024, with research and development expenses decreasing by $823 or 18%[139] - Cash used in operating activities was $(2,694) for the year ended December 31, 2024, compared to $(647) in 2023, while cash provided by investing activities was $2,895[143] Financial Position - Cash and cash equivalents as of December 31, 2024 were $4,666, with total assets of $20,933 and stockholders' equity of $17,747[142] - As of December 31, 2024, the company had cash and cash equivalents of $4,666[157] - The company has approximately $28,500 in net operating loss carryforwards as of December 31, 2024, with $10,900 expiring between 2035 and 2037[151] - The company anticipates that available cash and expected cash from operations will be sufficient to meet working capital and capital expenditure requirements for at least the next 12 months[146] Investment Activities - The primary objectives of the company's investment activities are capital preservation, liquidity fulfillment, and fiduciary control of cash and investments[157] - The company does not expect a hypothetical 100 basis point change in interest rates to materially affect the fair market value of its investment portfolio[157] - The company has never entered into off-balance sheet financing arrangements or established special purpose entities[156] Regulatory and Accounting Updates - The FASB issued ASU 2024-03, requiring disaggregated disclosures for certain expenses, effective for annual reporting periods beginning after December 15, 2026[155]

Financial Data and Key Metrics Changes - Fourth quarter revenues increased by 15% year-over-year, reaching a record $5.936 million compared to $5.176 million in Q4 2023 [48][50] - SaaS revenues for Q4 grew 17% quarter-over-quarter, totaling $5.913 million, while full-year SaaS revenues increased by 7% to $19.8 million [13][55] - Adjusted EBITDA for the full year 2024 was positive at $520,000, an improvement from a loss of $377,000 in 2023 [49][59] - Gross profit margin for Q4 was 91%, down from 95% in the same period of 2023, primarily due to increased R&D costs [50][55] Business Line Data and Key Metrics Changes - The company focused on vertical channel diversification, with significant growth in new verticals such as automotive (13%), title insurance (2,500%), email (54%), social media (17%), and retail banking [14][17] - SaaS revenue for the full year was $19.8 million, just shy of the $20 million mark, indicating strong performance in the SaaS segment [13][55] Market Data and Key Metrics Changes - Retail still represents approximately 75% of the company's scan volume, but transaction volumes from major retailers were down 45% year-over-year in Q1 2025 [44][82] - The company anticipates that lower mortgage rates will drive significant refinancing and improved home purchasing activity, particularly benefiting the title insurance vertical [17] Company Strategy and Development Direction - The company is investing in IT initiatives and enhancing customer experience through new leadership in the customer success team [9][31] - A strategic focus on longer contracts with minimums and guarantees is expected to yield positive results [42] - The transition from Azure to AWS is anticipated to improve efficiency and reduce costs, while also enhancing AI capabilities [30][76] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for the first quarter of 2025, expecting revenues to align with sell-side consensus estimates of $4.78 million [45] - The company is aware of macroeconomic challenges affecting consumer confidence and spending, which could impact retail volumes [43][71] - Management believes that the diversification strategy is working, with a focus on higher-value transactions in new verticals [42][84] Other Important Information - The company reported a net loss of $918,000 for the full year 2024, an improvement from a loss of $1.98 million in 2023 [58] - The company has a $2 million revolving credit facility with Citibank, which was not utilized during 2024 [60] Q&A Session Summary Question: Visibility on stronger back half of the year - Management indicated that visibility is based on rollout schedules and proof of concepts, with expectations for growth in the back half of the year [65][68] Question: Disruption in sales conversations due to macro conditions - Management reported no disruption in sales conversations, as fraud remains a consistent issue across industries [70][72] Question: Potential operating expense savings from switching to AWS - Management expects significant savings from the transition to AWS, while balancing the need for extensive computing power for AI and machine learning [75][76] Question: Clarification on Q4 revenue strength and Q1 outlook - Management noted that Q4 strength was driven by non-retail improvements, with a significant drop in retail transaction volumes expected in Q1 [81][84] Question: Update on large social media customer - Management is finalizing procurement discussions and expects updates soon, with testing already completed [87][89] Question: Sales team composition and focus - The company has added three new sales associates, focusing on a consultative selling approach across various verticals [92][94] Question: Top priorities for 2025 - Management emphasized that sales growth is the top priority, alongside improving customer success and marketing strategies [98][100]

Intellicheck (IDN) Q4 2024 Earnings Call March 20, 2025 04:30 PM ET Company Participants Gar Jackson - Founder & PresidentBryan Lewis - CEOAdam Sragovicz - Chief Financial OfficerMike Grondahl - Head of Equities & Director of ResearchNeil Cataldi - Principal Conference Call Participants Scott Buck - Managing Director & Senior Technology AnalystRudy Kessinger - Managing Director - Senior Equity Research AnalystDaniel Hibshman - Research AnalystNone - Analyst Operator Greetings, and welcome to the IntelliJek ...

Intellicheck (IDN) Q4 2024 Earnings Call March 20, 2025 04:30 PM ET Company Participants Gar Jackson - Founder & PresidentBryan Lewis - CEOAdam Sragovicz - Chief Financial OfficerMike Grondahl - Head of Equities & Director of ResearchNeil Cataldi - Principal Conference Call Participants Scott Buck - Managing Director & Senior Technology AnalystRudy Kessinger - Managing Director - Senior Equity Research AnalystDaniel Hibshman - Research AnalystNone - Analyst Operator Greetings, and welcome to the IntelliJek ...

Revenue Performance - Revenues for the three months ended September 30, 2024 decreased by $51, or 1%, to approximately $4,709 compared to $4,760 for the same period of 2023[116] - Revenues for the nine months ended September 30, 2024 increased by $330, or 2%, to approximately $14,060 compared to $13,730 for the same period of 2023[119] - Equipment revenue decreased by $93, or 88%, to $13 for the three months ended September 30, 2024, while SaaS revenue increased by $26, or 1%, to $4,661[116] - SaaS revenue for the nine months ended September 30, 2024 increased by $370, or 2%, to $13,896 compared to $13,526 for the same period of 2023[119] Profit and Loss - Gross profit for the three months ended September 30, 2024 decreased by $47, or 1%, to $4,285, maintaining a gross profit margin of 91%[117] - The net loss for the three months ended September 30, 2024 was $(837), compared to a net loss of $(724) for the same period in 2023[118] - The net loss for the nine months ended September 30, 2024 was $(1,406), significantly improved from a net loss of $(2,964) for the same period in 2023[124] - Net loss for the three months ended September 30, 2023, was $(837) million, while the net loss for the nine months ended September 30, 2023, was $(1,406) million[134] Operating Expenses - Operating expenses for the nine months ended September 30, 2024 decreased by $1,352, or 9%, to $14,391 compared to $15,743 for the same period of 2023[123] - Restructuring severance expenses amounted to $376 million for the three months ended September 30, 2023, and $548 million for the nine months ended September 30, 2023[134] - Stock-based compensation, including liability classified awards, was $237 million for the three months ended September 30, 2023, and $1,347 million for the nine months ended September 30, 2023[134] Cash and Assets - As of September 30, 2024, the company had cash and cash equivalents of $5,747 and total assets of $20,682[125] - The company anticipates that available cash and expected cash from operations will be sufficient to meet working capital and capital expenditure requirements for at least the next 12 months[127] Other Financial Information - Adjusted EBITDA for the three months ended September 30, 2023, was $(167) million, compared to $(341) million for the nine months ended September 30, 2023[134] - Interest and other income for the three months ended September 30, 2023, was $(73) million, while for the nine months it was $(230) million[134] - The company reported a provision for income taxes of $8 million for the three months ended September 30, 2023[134] - Depreciation and amortization for the three months ended September 30, 2023, was $130 million[134] Financing and Risk - The company has not entered into any off-balance sheet financing arrangements or established any special purpose entities[135] - There were no guarantees of debt or commitments of other entities by the company[135] - The company has not disclosed any market risk applicable to smaller reporting companies[135]

Core Viewpoint - Investors reacted negatively to Intellicheck's slight revenue miss, resulting in a 12% drop in shares, but management highlighted potential growth in identity verification services, particularly in real estate and banking sectors [1] Financial Performance - Third-quarter revenue was $4.7 million, approximately flat year-over-year and about 3% below consensus estimates [2] - Software-as-a-Service (SaaS) revenue increased by 1%, contributing significantly to the overall revenue [2] - Pricing power remained robust, with new business pricing per transaction rising by 25% year-on-year and 8% sequentially [2] Business Development - The appointment of Sandra Bower as vice president of customer success is expected to enhance revenue from existing customers through a deeper focus on the product pipeline [3] - A large regional bank has signed a multiyear agreement, fully implementing Intellicheck's services in 1,200 branches, with expectations of mid-6-figure annual revenue [5] - Another regional bank with over 2,700 branches is finalizing a multiyear deal for in-branch implementations, with potential for a seven-figure revenue increase by 2025 [6] Sector Growth - The real estate sector is experiencing solid growth, driven by the need for identity verification due to fraud schemes that have resulted in billions in losses [7] - Fraudsters often exploit stolen personal information in real estate transactions, highlighting the importance of Intellicheck's ID verification tools [8] - Westcor Land Title Insurance Company is utilizing Intellicheck's technology for advanced ID verification, contributing to growth in the automobile segment, which saw a 28% year-on-year increase [9] Market Challenges - The retail segment has faced pressures, including bankruptcies of three clients and reduced consumer spending, impacting overall revenue stability [10] - Management expressed hope that declining inflation could reverse current headwinds into tailwinds for the business [11] - The company is actively exploring other verticals for growth, indicating that many customers have not fully implemented their solutions yet [12]