Intellicheck(IDN)2025-03-31 12:47Revenue 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]