Intellicheck(IDN) - 2025 Q4 - Annual Results

Financial Performance - Net income for the year ended December 31, 2025 improved to $1,273,000 or $0.06 per diluted share compared to a net loss of $918,000 or ($0.05) per diluted share in the same period of 2024[8] - Total revenue for the full year ended December 31, 2025 increased 13% to $22,666,000 compared to $19,997,000 in the same period of 2024[6] - Adjusted EBITDA improved to $2,566,000 for the year ended December 31, 2025 compared to $520,000 for the same period of 2024[8] - Net income for the fourth quarter improved significantly to $1,552,000 or $0.08 per diluted share compared to net income of $488,000 or $0.03 per diluted share for the same period in 2024[4] - Net income for 2025 was $1,273,000, a significant improvement from a net loss of $918,000 in 2024[19] - Adjusted EBITDA for 2025 reached $2,566,000, compared to $520,000 in 2024, indicating strong operational performance[19] Revenue Growth - Fourth quarter total revenue grew 12% to a record $6,635,000 compared to $5,936,000 in the same period of 2024[1] - Fourth quarter SaaS revenue grew 12% and totaled $6,620,000 compared to $5,913,000 in the same period of 2024[1] - Revenues increased to $22,666,000 in 2025, up from $19,997,000 in 2024, reflecting a growth of approximately 8.3%[22] - Adjusted gross profit for 2025 was $20,999,000, compared to $18,347,000 in 2024, representing an increase of about 9%[22] Operating Expenses - Operating expenses for the year ended December 31, 2025 were $19,414,000 compared to $19,334,000 for the same period of 2024[7] - Operating expenses for the fourth quarter of 2025 decreased by 7% to $4,571,000 compared to $4,928,000 for the same period of 2024[3] - Stock-based compensation expense was $777,000 in 2025, down from $876,000 in 2024[19] Cash Position - Cash balance totaled $9,650,000 at year end December 31, 2025, an increase from $4,666,000 in 2024[9] - Cash provided by operating activities was $4,541,000 in 2025, a turnaround from cash used of $2,694,000 in 2024[16] - Cash and cash equivalents at the end of 2025 totaled $9,650,000, up from $4,666,000 at the end of 2024[16] Accounts Receivable - The company reported a decrease in accounts receivable by $1,165,000 in 2025, compared to an increase of $219,000 in 2024[16] Market Reach - The company is processing identity transactions for nearly half of the adult population in the U.S. and Canada annually, showcasing its market reach[23]