Intellicheck(IDN)2024-11-14 21:09Revenue 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]