Financial Data and Key Metrics Changes - Q2 2024 revenue decreased by 1% to $4.672 million compared to $4.716 million in Q2 2023 [31] - SaaS revenue for Q2 2024 decreased by 0.8% to $4.627 million from $4.663 million in the same period last year, representing 99% of total revenue [31] - Net income improved by $726,000 to a net loss of $127,000 for Q2 2024 compared to a net loss of $853,000 for Q2 2023 [33] - Adjusted EBITDA decreased by $106,000, resulting in a loss of $70,000 compared to a gain of $36,000 for the same period in 2023 [34] Business Line Data and Key Metrics Changes - SaaS revenues were $4.6 million, down $36,000 year-over-year [8] - Operating expenses decreased by $770,000 or 17% to $4.443 million for Q2 2024 compared to $5.213 million for Q2 2023 [32] - The average price per scan increased by 11% sequentially from Q1 to Q2 2024, indicating a positive trend in pricing strategy [10][58] Market Data and Key Metrics Changes - Retail sector saw a 16% year-over-year decline in volumes, with significant impacts from bankruptcies and store closures [44] - New customer acquisition in non-retail sectors is showing positive growth, helping to offset declines in the retail sector [50][56] - The electronics vertical and new categories like auto and title insurance are performing better, partially offsetting declines in traditional retail categories [11] Company Strategy and Development Direction - The company is diversifying its market presence beyond traditional retail to include sectors like title insurance, automotive, and background checks [11][21] - A focus on enhancing customer experience and account management through new leadership roles is expected to drive growth [13][14] - Continued investment in technology and product enhancements is planned to address evolving fraud tactics and improve service delivery [24][25] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant increase in identity theft and fraud, emphasizing the importance of their technology in combating these issues [5][6] - The economic environment is seen as a headwind, particularly affecting the retail sector, but diversification into other verticals is expected to provide growth opportunities [47][56] - Management remains optimistic about future growth, particularly if the economy improves, which could provide a tailwind for retail recovery [45][47] Other Important Information - The company completed a successful proof of concept with a large lease-to-own retail client and is expanding its services [17] - New technology initiatives, including a self-administration hub for clients, are set to launch in Q3 2024 [24] - The company is actively cultivating partnerships with hardware companies to enhance its service offerings [39] Q&A Session Summary Question: Retail customer usage and deployment - Management noted that retail customers are using solutions in fewer locations due to store closures and economic factors affecting consumer spending [42][43] Question: Year-over-year retail volume decline - Retail volumes are down approximately 16% year-over-year, with variations across different sectors [44] Question: Future SaaS revenue expectations - Management refrained from providing specific revenue guidance but indicated that other market verticals are accelerating, which may offset retail declines [55][56]

Core Insights - The second quarter for Intellicheck showed pressure in retail verticals and customers, but diversification efforts are expected to yield long-term benefits [1] - Total revenues decreased by 0.9% to $4.7 million, with SaaS revenue down 0.8% at $4.6 million; net loss improved to $127,000 from $853,000 a year ago [1][2] Retail Segment Performance - Customers in the retail segment are reducing spending, particularly on cards, impacting transaction volumes and ID verification on a "per scan" basis [3] - Retail bankruptcies and store closures among clients led to a 16% volume decline in the quarter, worsening from a 10% decline in the first quarter [3] - There is a bifurcation within retail, with volume gains in sporting goods and electronics, while other categories are losing ground [3] Identity Fraud Concerns - Identity fraud remains a significant issue, with increasing breaches resulting in tens of billions of dollars in losses; the cost of stolen identity information is alarmingly low [4] - Knowledge-based security protocols are becoming less effective due to compromised challenge questions and answers [4] Diversification Efforts - The company is expanding into verticals beyond retail, including a partnership with Doma Title Insurance to combat seller impersonation amid rising real estate scams [5] - New business lines have seen an 11% average price increase per transaction compared to older retail lines, indicating successful diversification strategies [6] - Management emphasizes that diversification is a crucial strategy that is proving effective [6]

Intellicheck, Inc. (IDN) is expected to release second-quarter 2024 results on Aug 8, after market close. In the last reported quarter, the company reported an adjusted loss of 2 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 6 cents per share. Let's see how things have shaped up for Intellicheck this earnings season. Factors to Note Intellicheck's second-quarter performance is likely to have been aided by higher Software as a Service (SaaS) revenues, which consist of sof ...

One other Industrial Products stock that has outperformed the sector so far this year is Napco (NSSC) . The stock is up 42% year-to-date. In Napco's case, the consensus EPS estimate for the current year increased 3.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Intellicheck Mobilisa, Inc. (IDN) one of those stocks right n ...

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, 2024 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 Intellicheck, Inc. (Exact name of Registrant as specified in its charter) 200 Broadhollow Road, ...

As identity fraud continues to plague business verticals from banking to automotive and even higher education, verification company Intellicheck posted record Q1 earnings Monday (May 13). "The landscape of the market for identity verification is evolving against the backdrop of a growing sense of urgency being fueled by across-the-board incidents of identity theft and fraud," Intellicheck CEO Bryan Lewis told the company's earnings call. "This has led to a significant new focus on security and the consumers ...

Intellicheck Announces Record First Quarter 2024 Financial Results Total Revenues Grew 10% Year Over Year Continued Net Income and EBITDA Improvements MELVILLE, NY – May 13, 2024 - 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, 2024. Total revenue for the first quarter ended March 31, 2024 grew 10% to $4,680,000 compared to $4,254,000 in ...

MELVILLE, N.Y.--(BUSINESS WIRE)--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering on-demand digital and physical identification validation solutions, will report financial results for the first quarter ended March 31, 2024 on May 13, 2024 after the close of the U.S. stock markets. The Company will hold an earnings conference call on May 13 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 calle ...

MELVILLE, N.Y.--(BUSINESS WIRE)--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering on-demand digital and physical identification validation solutions, will report financial results for the first quarter ended March 31, 2024 on May 13, 2024 after the close of the U.S. stock markets.The Company will hold an earnings conference call on May 13 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 caller ...

From a technical perspective, Intellicheck Mobilisa, Inc. (IDN) is looking like an interesting pick, as it just reached a key level of support. IDN's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a long ...