Intellicheck(US:IDN)2025-11-12 21:09Financial Performance - Third quarter revenue increased by 28% to a record $6,014,000 compared to $4,709,000 in the same period of 2024[2] - Net income improved to $290,000 or $0.01 per diluted share, compared to a net loss of ($837,000) or ($0.04) per diluted share for the same period in 2024[6] - Adjusted EBITDA improved by $798,000 to $631,000 for the third quarter of 2025, compared to a loss of ($167,000) for the same period in 2024[7] - Revenues for the nine months ended September 30, 2025, were $16,031 million, up from $14,060 million in 2024, representing a growth of approximately 14%[21] - Adjusted EBITDA for the nine months ended September 30, 2025, was $688 million, compared to a loss of $341 million in the same period of 2024[18] - The company achieved a $1.1 million improvement in net income and a $798,000 improvement in adjusted EBITDA versus the prior year[3] Revenue Breakdown - SaaS revenue increased by 26% to $5,868,000 compared to $4,661,000 in the same period of 2024[2] - Adjusted Gross Profit for the nine months ended September 30, 2025, was $14,797 million, compared to $12,828 million in 2024, indicating an increase of about 15%[21] - Adjusted Gross Profit as a percentage of revenues for the nine months ended September 30, 2025, was 92.3%, compared to 91.2% in 2024[21] Cash and Equity - Cash and cash equivalents totaled $7.2 million as of September 30, 2025[8] - Total stockholders' equity increased to $18.9 million as of September 30, 2025, up from $17.7 million at the end of 2024[11] - The cash provided by operating activities for the nine months ended September 30, 2025, was $2,147 million, a significant turnaround from cash used in operating activities of $1,373 million in 2024[15] - The company reported a net increase in cash of $2,557 million for the nine months ended September 30, 2025, compared to an increase of $1,767 million in 2024[15] Operating Expenses - Operating expenses were relatively flat at $5,205,000 for the third quarter of 2025 compared to $5,195,000 for the same period in 2024[5] Market Strategy - The company plans to continue growing its customer base and advancing existing customer usage of its technology[3] - The company is focused on expanding its market presence, particularly in healthcare and auto dealerships, as part of its growth strategy[23] Identity Validation - The company validated around 100 million identities across North America annually, achieving a 99.75% decisioning rate in under a second[22] Financial Metrics Clarification - The company emphasizes that Adjusted EBITDA should not be considered in isolation from GAAP net loss, highlighting the importance of both metrics for evaluating financial performance[17] Loss Improvement - For the nine months ended September 30, 2025, the net loss was $279 million, an improvement from a net loss of $1,406 million in the same period of 2024[15]