Intellicheck(IDN)2024-08-14 20:06Revenue Performance - Revenues for the three months ended June 30, 2024 decreased by $44, or 1%, to approximately $4,672 compared to $4,716 for the same period of 2023[102] - SaaS revenue for the three months ended June 30, 2024 decreased by $36, or 1%, to $4,627 compared to $4,663 for the same period of 2023[102] - Revenues for the six months ended June 30, 2024 increased by $382, or 4%, to approximately $9,352 compared to $8,970 for the same period of 2023[104] - SaaS revenue for the six months ended June 30, 2024 increased by $345, or 4%, to $9,236 compared to $8,891 for the same period of 2023[104] Profitability and Loss - Gross profit for the three months ended June 30, 2024 decreased by $136, or 3%, to $4,228, with a gross profit margin of 91% compared to 93% for the same period of 2023[102] - The net loss for the three months ended June 30, 2024 was $(127), an improvement compared to a net loss of $(853) for the same period of 2023[103] - The net loss for the six months ended June 30, 2024 was $(569), an improvement compared to a net loss of $(2,240) for the same period of 2023[105] - Net loss for the six months ended June 30, 2024, was $(569) million, an improvement from $(2,240) million in the same period of 2023[112] Operating Expenses - Operating expenses for the three months ended June 30, 2024 decreased by $770, or 15%, to $4,443 compared to $5,213 for the same period of 2023[103] - Operating expenses for the six months ended June 30, 2024 decreased by $1,318, or 13%, to $9,197 compared to $10,515 for the same period of 2023[105] Cash and Financial Position - As of June 30, 2024, the company had cash and cash equivalents of $7,260 and working capital of $6,611[106] Adjusted EBITDA and Other Financial Metrics - Adjusted EBITDA for the three months ended June 30, 2024, was $(70) million, compared to $(174) million for the same period in 2023[112] - Depreciation and amortization for the three months ended June 30, 2024, was $73 million, compared to $69 million in the same period of 2023[112] - Stock-based compensation, including liability classified awards, was $72 million for the three months ended June 30, 2024, down from $323 million in the same period of 2023[112] - Interest and other income for the six months ended June 30, 2024, was $(157) million, compared to $(1) million in the same period of 2023[112] Off-Balance Sheet and Risk Information - The company has not entered into any off-balance sheet financing arrangements or established special purpose entities[113] - There are no guarantees of debt or commitments of other entities by the company[113] - The company has not disclosed any quantitative and qualitative market risk information as it is not applicable to smaller reporting companies[114]