Nov 14, 2024 – Engagement in new identity verification markets like real estate transaction security highlighted the third quarter of 2024 for Intellicheck, which resulted in relatively flat financials.
The company reports total revenues slightly over $4.7 million, compared to slightly under $4.8 million in the same period a year ago. The company reports a similarly modest change in net loss, which grew by $113,000 to $837,000, or $0.04 per diluted share.
Intellicheck cut its adjusted EBITDA loss over the same period from $271,000 in Q3 2023 to $167,000 in the most recent quarter.
CEO Bryan Lewis says: “The strategic moves we have made in expanding into new markets have yielded new sales and new sources of transaction volume.”
Intellicheck earnings flat as diversification sets up dividends
August 13, 2024 – Intellicheck reports revenues from its physical and digital identity validation software of just under $4.7 million in the second quarter of its fiscal 2024 year, down slightly from barely over $4.7 million in Q2 2023.
Net loss improved by $726,000 to a loss of $127,000, or $0.01 per diluted share, a significant improvement over a net loss of $853,000 a year earlier ($0.04 per diluted share). EBITDA went the other way, declining by $106,000 from a year ago to negative $70,000.
CEO Bryan Lewis notes in the announcement that the company has been focused on “innovation and market expansion” to set up future financial growth.
As noted in the company’s earnings call, that means extending beyond retail to verticals like insurance, where the company picked up Doma Title Insurance as a client just last week to prevent seller impersonation.
Lewis says that not only is diversification important for Intellicheck, “it is working.”
Intellicheck net jumps towards black ink in Q1
May 15, 2024 – Revenues from Intellicheck’s identity verification software grew by 10 percent during the company’s first fiscal quarter of 2024 to $4.68 million, from $4.25 million in the same quarter of 2023.
Net loss during the quarter improved dramatically, narrowing from nearly $1.4 million in Q1 2023 to $442,000, or $0.02 per diluted share, according to the company’s preliminary results.
“Unrelenting incidents of identity theft and fraud have led to a significant new focus on security and growing consumer concerns,” says Intellicheck CEO Bryan Lewis. “Not only must every business have the advanced technology in place to protect their bottom line, but they also must be responsive to the clear message from consumers.”
Positive Q4, anticipates further growth
March 25, 2024 – Intellicheck netted $757,000 in income in the fourth quarter of its fiscal 2023, a dramatic improvement capping a year in which the company lost $1.98 million. Read more here.
Narrows quarter loss, sees revenue rise
November 10, 2023 – Digital ID verification company Intellicheck is still reporting losses, but executives say revenue is growing. Software-as-a-service revenue rose 17 percent.
For the third quarter of fiscal 2023, ended September 30, the company reported a net loss of $644,000, or $0.03 basic and diluted shares, on revenue of $4.7 million. This compares with a $724,000 loss, $0.04, on revenue of $4 million in the same period a year ago.
For the first three quarters of the year, Intellicheck reported a loss of $2.7 million, $0.14, on revenue of $13.7 million. That compares with a loss of $3.2 million, $0.17, on revenue of $11.4 million for the same period last year.
Moving in the right direction
Aug 11, 2023 – Intellicheck shaved its second-quarter net loss compared to the same period last year. For the three months ended June 30, it reported a net loss of $777,000, or $0.04 per basic and diluted share, on revenue of $4.7 million. This compares favorably with a net loss of $1.1 million, or $0.06 basic/diluted, on revenue of $4 million.
For the six months ended June 30, the identity validation software company reported a net loss of $2.1 million, or $0.11, on revenue of $8.9 million. During the first half of fiscal 2022, the company reported a net loss of $2.6 million, $0.14, on revenue of $7.4 million.
Executives say trailing 12-month SaaS revenue has increased for the previous 42 consecutive months (in this case, as of June 30). Known as TTM, this metric looks at financial performance over the previous 12 months. It can give investors an updated picture of a company that is seasonally adjusted.
Revenues up in Q1
May 10, 2023 – Intellicheck reported a loss of $1.3 million, or $0.07 per share, compared to a slightly higher loss of $1.4 million, or $0.08 per share a year ago. Read more here.
Higher cloud ID verification revenue
March 22, 2023 – Year-end financial results for Intellicheck indicate a steady uptick in cloud-based identity verification adoption, providing a source of optimism for future earnings. Read more here.
Losses widespread in tough third quarter
Nov 15, 2022 – All but on-demand identity validation vendor Intellicheck saw the red ink spread farther compared to third quarter 2021. Read more here.
SaaS revenues up
Aug 12, 2022 – SaaS revenues were up at Intellicheck, by 21 percent, though total revenue declined by 16 percent y-o-y to just over $4 million for the second quarter. Net loss for the three months was slightly higher than a year earlier. Read more here.
Revenue increase cuts net loss
June 20, 2022 – Intellicheck has preliminarily announced revenues of $3,3950,000 from its physical and digital identity validation solutions for the fiscal first quarter of 2022. Read more here.
Year-over-year growth in revenues
March 10, 2022 – Intellicheck has reported 38 percent year-over-year growth in revenues from its software-as-a-service (SaaS) for physical and digital identity validation in its fiscal 2021 year. Read more here.
Building the foundations for biometric verification and fraud protection
The true goal of fraud detection and prevention techniques is to allow as many legitimate users as possible, as easily as possible, with as little fraud as you can. This is why techniques like effective and efficient risk profiling are so important, Intellicheck CEO Bryan Lewis tells Biometric Update. Read more here.
More financial and industry news about Intellicheck here.
Article Topics
biometrics | digital identity | financial results | Intellicheck | stocks
