Intellicheck Announces Record Fourth Quarter and Full-Year 2024 Financial Results
Intellicheck (Nasdaq: IDN) reported record financial results for Q4 and full-year 2024. Q4 total revenue grew 15% to $5.94M, with SaaS revenue up 17% to $5.91M compared to 2023. Full-year revenue increased 6% to $20M, with SaaS revenue growing 7% to $19.81M.
The company reported Q4 net income of $488,000 ($0.03 per diluted share), down from $984,000 ($0.05 per diluted share) in Q4 2023. Full-year results showed an improved net loss of ($918,000) or ($0.05) per share, compared to ($1.98M) loss in 2023. Gross profit margin was 91.1% for Q4 and 90.8% for the full year.
As of December 31, 2024, Intellicheck maintained $4.7M in cash and stockholders' equity of $17.7M. The company faces challenges from retail contraction, consumer economic concerns, and reduced spending, but aims to expand into new market verticals and strengthen existing partnerships in 2025.
Intellicheck (Nasdaq: IDN) ha riportato risultati finanziari record per il Q4 e l'intero anno 2024. Le entrate totali del Q4 sono cresciute del 15% raggiungendo $5.94M, con le entrate SaaS aumentate del 17% a $5.91M rispetto al 2023. Le entrate annuali sono aumentate del 6% a $20M, con le entrate SaaS che sono cresciute del 7% a $19.81M.
L'azienda ha riportato un reddito netto di $488,000 ($0.03 per azione diluita) nel Q4, in calo rispetto ai $984,000 ($0.05 per azione diluita) nel Q4 2023. I risultati annuali hanno mostrato una perdita netta migliorata di ($918,000) o ($0.05) per azione, rispetto a una perdita di ($1.98M) nel 2023. Il margine di profitto lordo è stato del 91.1% per il Q4 e del 90.8% per l'intero anno.
Al 31 dicembre 2024, Intellicheck ha mantenuto $4.7M in contante e un patrimonio netto di $17.7M. L'azienda affronta sfide dovute alla contrazione del commercio al dettaglio, alle preoccupazioni economiche dei consumatori e alla riduzione della spesa, ma mira ad espandersi in nuovi settori di mercato e a rafforzare le partnership esistenti nel 2025.
Intellicheck (Nasdaq: IDN) reportó resultados financieros récord para el Q4 y el año completo 2024. Los ingresos totales del Q4 crecieron un 15% alcanzando $5.94M, con ingresos SaaS que aumentaron un 17% a $5.91M en comparación con 2023. Los ingresos anuales aumentaron un 6% a $20M, con ingresos SaaS creciendo un 7% a $19.81M.
La compañía reportó un ingreso neto de $488,000 ($0.03 por acción diluida) en el Q4, una disminución desde los $984,000 ($0.05 por acción diluida) en el Q4 de 2023. Los resultados anuales mostraron una pérdida neta mejorada de ($918,000) o ($0.05) por acción, en comparación con una pérdida de ($1.98M) en 2023. El margen de ganancia bruta fue del 91.1% para el Q4 y del 90.8% para el año completo.
Al 31 de diciembre de 2024, Intellicheck mantuvo $4.7M en efectivo y un patrimonio neto de $17.7M. La compañía enfrenta desafíos debido a la contracción del comercio minorista, preocupaciones económicas de los consumidores y reducción del gasto, pero tiene como objetivo expandirse a nuevos sectores de mercado y fortalecer las asociaciones existentes en 2025.
Intellicheck (Nasdaq: IDN)는 2024년 4분기 및 연간 기록적인 재무 결과를 보고했습니다. 4분기 총 수익은 15% 증가하여 $5.94M에 달했으며, SaaS 수익은 2023년 대비 17% 증가하여 $5.91M에 이르렀습니다. 연간 수익은 6% 증가하여 $20M에 도달했으며, SaaS 수익은 7% 증가하여 $19.81M에 이르렀습니다.
회사는 4분기 순이익이 $488,000 ($0.03 per diluted share)로 2023년 4분기 $984,000 ($0.05 per diluted share)에서 감소했다고 보고했습니다. 연간 결과는 ($918,000) 또는 ($0.05) per share의 개선된 순손실을 보여주었으며, 이는 2023년의 ($1.98M) 손실과 비교됩니다. 4분기 총 이익률은 91.1%, 연간 총 이익률은 90.8%였습니다.
2024년 12월 31일 기준으로, Intellicheck는 $4.7M의 현금과 $17.7M의 주주 자본을 유지하고 있었습니다. 회사는 소매 축소, 소비자 경제 우려 및 지출 감소로 인한 도전에 직면해 있지만, 2025년에는 새로운 시장 분야로 확장하고 기존 파트너십을 강화하는 것을 목표로 하고 있습니다.
Intellicheck (Nasdaq: IDN) a annoncé des résultats financiers records pour le 4ème trimestre et l'année complète 2024. Les revenus totaux du 4ème trimestre ont augmenté de 15% pour atteindre 5,94 millions de dollars, avec des revenus SaaS en hausse de 17% à 5,91 millions de dollars par rapport à 2023. Les revenus annuels ont augmenté de 6% pour atteindre 20 millions de dollars, avec des revenus SaaS croissant de 7% à 19,81 millions de dollars.
L'entreprise a rapporté un revenu net de 488 000 dollars (0,03 $ par action diluée) pour le 4ème trimestre, en baisse par rapport à 984 000 dollars (0,05 $ par action diluée) pour le 4ème trimestre 2023. Les résultats annuels ont montré une perte nette améliorée de (918 000 dollars) ou (0,05 $) par action, comparativement à une perte de (1,98 million de dollars) en 2023. La marge brute était de 91,1% pour le 4ème trimestre et de 90,8% pour l'année entière.
Au 31 décembre 2024, Intellicheck a maintenu 4,7 millions de dollars en espèces et des capitaux propres de 17,7 millions de dollars. L'entreprise fait face à des défis liés à la contraction du commerce de détail, aux préoccupations économiques des consommateurs et à la réduction des dépenses, mais vise à s'étendre à de nouveaux secteurs de marché et à renforcer les partenariats existants en 2025.
Intellicheck (Nasdaq: IDN) hat für das 4. Quartal und das gesamte Jahr 2024 Rekordergebnisse bekannt gegeben. Die Gesamteinnahmen im 4. Quartal stiegen um 15% auf $5.94M, wobei die SaaS-Einnahmen um 17% auf $5.91M im Vergleich zu 2023 zunahmen. Die Gesamteinnahmen für das Jahr erhöhten sich um 6% auf $20M, während die SaaS-Einnahmen um 7% auf $19.81M wuchsen.
Das Unternehmen berichtete für das 4. Quartal von einem Nettoeinkommen von $488,000 ($0.03 pro verwässerter Aktie), ein Rückgang von $984,000 ($0.05 pro verwässerter Aktie) im 4. Quartal 2023. Die jährlichen Ergebnisse zeigten einen verbesserten Nettoverlust von ($918,000) oder ($0.05) pro Aktie, verglichen mit einem Verlust von ($1.98M) im Jahr 2023. Die Bruttogewinnmarge betrug 91.1% im 4. Quartal und 90.8% für das gesamte Jahr.
Zum 31. Dezember 2024 hielt Intellicheck $4.7M in Bargeld und ein Eigenkapital von $17.7M. Das Unternehmen sieht sich Herausforderungen durch den Rückgang des Einzelhandels, wirtschaftliche Bedenken der Verbraucher und reduzierte Ausgaben gegenüber, strebt jedoch an, in neue Marktsegmente zu expandieren und bestehende Partnerschaften im Jahr 2025 zu stärken.
- Record Q4 revenue with 15% growth to $5.94M
- Q4 SaaS revenue grew 17% year-over-year
- Full-year net loss improved by 54% to ($918,000)
- Strong gross profit margins maintained above 90%
- Healthy cash position of $4.7M
- Q4 net income declined 50% year-over-year
- Gross profit margin decreased from 94.9% to 91.1% in Q4
- Operating expenses increased 21% in Q4
- Facing headwinds from retail contraction and reduced consumer spending
- Full-year revenue growth slowed to 6% compared to Q4's 15%
Insights
Intellicheck's Q4 results reflect robust revenue momentum with total revenue increasing
Despite the revenue growth, Q4 profitability metrics show pressure points: gross margin contracted to
For the full year, Intellicheck narrowed its net loss substantially to
Management's commentary about offsetting retail headwinds through expansion into new market verticals appears to be gaining traction, evidenced by the accelerated Q4 growth. The company's ability to maintain over
Fourth Quarter SaaS Revenues Grew
“Our strategic decision to move into new market verticals has been key in allowing us to offset the headwinds we continue to see given the ongoing and growing issues of retail contraction, consumer economic concerns, reduced spending, and market turmoil. We believe we will show progress in 2025 as we remain focused on expanding our customer base, growing our presence in new market verticals and building on our partnerships with existing customers,” said Intellicheck CEO Bryan Lewis.
Gross profit as a percentage of revenues was
Operating expenses for the three months ended December 31, 2024, which consist of selling, general and administrative expenses and research and development expenses were
Net income for the three months ended December 31, 2024 was
Adjusted EBITDA (earnings before interest and other income, provision for income taxes, sales tax accrual, depreciation, amortization, stock-based compensation expense and certain non-recurring charges) was
Full Year 2024 Results
Total revenue for the full year ended December 31, 2024 increased
Gross profit as a percentage of revenue was
Operating expenses for the year ended December 31, 2024 were
Net loss for the year ended December 31, 2024 improved to (
As of December 31, 2024, the Company had cash that totaled
The financial results reported today do not consider any adjustments that may be required in connection with the completion of the Company’s financial statement audit process and should be considered preliminary until Intellicheck files its Form 10-K for the fiscal year ended December 31, 2024.
Conference Call Information
The Company will hold an earnings conference call on March 20, 2025 at 4:30 p.m. ET/1:30 p.m. PT to discuss operating results. To listen to the earnings conference call, please dial 877-407-8037. For callers outside the
A replay of the conference call will be available shortly after completion of the live event. To listen to the replay, please dial 877-660-6853 and use conference identification number 13751782. For callers outside the
INTELLICHECK, INC. |
|||||||
CONDENSED BALANCE SHEETS |
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DECEMBER 31, 2024 and 2023 |
(unaudited) |
||||||
|
2024 |
|
|
|
2023 |
|
|
|
(in thousands, except share and
|
||||||
ASSETS |
|
|
|
||||
CURRENT ASSETS: |
|
|
|
||||
Cash and cash equivalents |
$ |
4,666 |
|
|
$ |
3,980 |
|
Short-term investments |
|
— |
|
|
|
5,000 |
|
Accounts receivable, net of allowance for credit losses of |
|
4,675 |
|
|
|
4,703 |
|
Other current assets |
|
571 |
|
|
|
692 |
|
Total current assets |
|
9,912 |
|
|
|
14,375 |
|
|
|
|
|
||||
PROPERTY AND EQUIPMENT, NET |
|
536 |
|
|
|
666 |
|
GOODWILL |
|
8,102 |
|
|
|
8,102 |
|
INTANGIBLE ASSETS, NET |
|
2,374 |
|
|
|
575 |
|
OTHER ASSETS |
|
9 |
|
|
|
90 |
|
|
|
|
|
||||
Total assets |
$ |
20,933 |
|
|
$ |
23,808 |
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||||
|
|
|
|
||||
CURRENT LIABILITIES: |
|
|
|
||||
Accounts payable |
$ |
443 |
|
|
$ |
884 |
|
Accrued expenses |
|
1,742 |
|
|
|
3,245 |
|
Equity awards liability |
|
— |
|
|
|
4 |
|
Liability for shares withheld |
|
— |
|
|
|
190 |
|
Deferred revenue, current portion |
|
1,001 |
|
|
|
2,209 |
|
Total current liabilities |
|
3,186 |
|
|
|
6,532 |
|
|
|
|
|
||||
Total liabilities |
|
3,186 |
|
|
|
6,532 |
|
|
|
|
|
||||
COMMITMENTS AND CONTINGENCIES (Note 10) |
|
|
|
||||
|
|
|
|
||||
STOCKHOLDERS’ EQUITY: |
|
|
|
||||
Preferred stock – |
|
— |
|
|
|
— |
|
Common stock – |
|
19 |
|
|
|
19 |
|
Additional paid-in capital |
|
152,211 |
|
|
|
150,822 |
|
Accumulated deficit |
|
(134,483 |
) |
|
|
(133,565 |
) |
Total stockholders’ equity |
|
17,747 |
|
|
|
17,276 |
|
|
|
|
|
||||
Total liabilities and stockholders’ equity |
$ |
20,933 |
|
|
$ |
23,808 |
|
INTELLICHECK, INC. |
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CONDENSED STATEMENTS OF OPERATIONS |
|||||||
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 |
|||||||
|
(unaudited) |
||||||
|
|
2024 |
|
|
|
2023 |
|
|
(in thousands, except share and
|
||||||
REVENUES |
$ |
19,997 |
|
|
$ |
18,906 |
|
COST OF REVENUES |
|
(1,831 |
) |
|
|
(1,375 |
) |
Gross profit |
|
18,166 |
|
|
|
17,531 |
|
|
|
|
|
||||
OPERATING EXPENSES |
|
|
|
||||
Selling, general and administrative |
|
15,477 |
|
|
|
15,127 |
|
Research and development |
|
3,857 |
|
|
|
4,680 |
|
Total operating expenses |
|
19,334 |
|
|
|
19,807 |
|
|
|
|
|
||||
Loss from operations |
|
(1,168 |
) |
|
|
(2,276 |
) |
|
|
|
|
||||
OTHER INCOME |
|
|
|
||||
Interest and other income |
|
283 |
|
|
|
234 |
|
Total other income |
|
283 |
|
|
|
234 |
|
|
|
|
|
||||
Net loss before provision for (benefit from) income taxes |
|
(885 |
) |
|
|
(2,042 |
) |
Provision for (benefit from) income taxes |
|
33 |
|
|
|
(62 |
) |
|
|
|
|
||||
Net loss |
$ |
(918 |
) |
|
$ |
(1,980 |
) |
|
|
|
|
||||
PER SHARE INFORMATION: |
|
|
|
||||
Loss per common share - |
|
|
|
||||
Basic/Diluted |
$ |
(0.05 |
) |
|
$ |
(0.10 |
) |
|
|
|
|
||||
Weighted average common shares used in computing per share amounts - |
|
|
|
||||
Basic/Diluted |
|
19,327,132 |
|
|
|
19,243,179 |
|
INTELLICHECK, INC. |
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CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY |
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FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 (Unaudited) |
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(in thousands, except number of shares) |
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|
Common Stock |
|
Additional
|
|
Accumulated Deficit |
|
Total Stockholders’ Equity |
||||||||||
|
Shares |
|
Amount |
|
|
|
|||||||||||
BALANCE, December 31, 2022 |
18,957,366 |
|
|
$ |
19 |
|
$ |
149,233 |
|
|
$ |
(131,585 |
) |
|
$ |
17,667 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
— |
|
|
|
— |
|
|
1,646 |
|
|
|
— |
|
|
|
1,646 |
|
Issuance of common stock for vested restricted stock grants and earned performance stock grants |
421,689 |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Shares forfeited in exchange for withholding taxes |
(24,720 |
) |
|
|
— |
|
|
(57 |
) |
|
|
— |
|
|
|
(57 |
) |
Net loss |
— |
|
|
|
— |
|
|
— |
|
|
|
(1,980 |
) |
|
|
(1,980 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||
BALANCE, December 31, 2023 |
19,354,335 |
|
|
$ |
19 |
|
$ |
150,822 |
|
|
$ |
(133,565 |
) |
|
$ |
17,276 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
— |
|
|
|
— |
|
|
1,082 |
|
|
|
— |
|
|
|
1,082 |
|
Stock option exercises, net of cashless exercises |
179,875 |
|
|
|
— |
|
|
307 |
|
|
|
— |
|
|
|
307 |
|
Issuance of shares for vested restricted stock grants |
248,101 |
|
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net loss |
— |
|
|
|
— |
|
|
— |
|
|
|
(918 |
) |
|
|
(918 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||
BALANCE, December 31, 2024 |
19,782,311 |
|
|
$ |
19 |
|
$ |
152,211 |
|
|
$ |
(134,483 |
) |
|
$ |
17,747 |
|
INTELLICHECK, INC. |
|||||||
CONDENSED STATEMENTS OF CASH FLOWS |
|||||||
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 |
|||||||
|
(unaudited) |
||||||
|
|
2024 |
|
|
|
2023 |
|
|
(In thousands) |
||||||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
||||
Net loss |
$ |
(918 |
) |
|
$ |
(1,980 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
||||
Depreciation and amortization |
|
436 |
|
|
|
282 |
|
Stock-based compensation |
|
876 |
|
|
|
1,596 |
|
Allowance for credit losses |
|
248 |
|
|
|
49 |
|
Change in accrued interest and accretion of discount on short-term investments |
|
— |
|
|
|
(206 |
) |
Changes in assets and liabilities: |
|
|
|
||||
(Increase) in accounts receivable |
|
(219 |
) |
|
|
(2,115 |
) |
Decrease (increase) in other current assets |
|
121 |
|
|
|
(84 |
) |
Decrease (increase) in other assets |
|
82 |
|
|
|
(82 |
) |
(Decrease) increase in accounts payable and accrued expenses |
|
(1,946 |
) |
|
|
616 |
|
(Decrease) increase in deferred revenue |
|
(1,209 |
) |
|
|
1,302 |
|
(Decrease) in liability for shares surrendered |
|
(190 |
) |
|
|
— |
|
Increase (decrease) in other current liabilities |
|
25 |
|
|
|
(25 |
) |
Net cash used in operating activities |
|
(2,694 |
) |
|
|
(647 |
) |
|
|
|
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
||||
Purchase of property and equipment |
|
(57 |
) |
|
|
(93 |
) |
Proceeds from maturity of short-term investments |
|
5,000 |
|
|
|
5,000 |
|
Purchases of short-term investments |
|
— |
|
|
|
(4,914 |
) |
Software development costs |
|
(2,048 |
) |
|
|
(407 |
) |
Net cash provided by (used in) investing activities |
|
2,895 |
|
|
|
(414 |
) |
|
|
|
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
||||
Proceeds from exercises of stock options |
|
307 |
|
|
|
— |
|
Proceeds from insurance financing arrangement |
|
320 |
|
|
|
49 |
|
Withholding taxes paid on RSU vesting |
|
— |
|
|
|
(57 |
) |
Repayment of insurance financing arrangement |
|
(142 |
) |
|
|
(147 |
) |
Net cash provided by (used in) provided by financing activities |
|
485 |
|
|
|
(155 |
) |
|
|
|
|
||||
Net increase (decrease) in cash |
|
686 |
|
|
|
(1,216 |
) |
|
|
|
|
||||
CASH, beginning of year |
|
3,980 |
|
|
|
5,196 |
|
|
|
|
|
||||
CASH, end of year |
$ |
4,666 |
|
|
$ |
3,980 |
|
|
|
|
|
||||
Supplemental disclosures of cash flow information: |
|
|
|
||||
Cash paid for interest |
$ |
— |
|
|
$ |
2 |
|
Cash paid for income taxes |
$ |
— |
|
|
$ |
80 |
|
Adjusted EBITDA
We use Adjusted EBITDA as a non-GAAP financial performance measurement. Adjusted EBITDA is calculated by adjusting net loss for certain reductions such as interest and other income and certain addbacks such as income taxes, sales tax accrual, depreciation, amortization, and stock-based compensation expense. Adjusted EBITDA is provided to investors to supplement the results of operations reported in accordance with GAAP. Management believes that Adjusted EBITDA provides an additional tool for investors to use in comparing our financial results with other companies that also use Adjusted EBITDA in their communications to investors. By excluding non-cash charges such as sales tax accrual, amortization, depreciation, and stock-based compensation, as well as non-operating charges for interest and income taxes, investors can evaluate our operations and can compare the results on a more consistent basis to the results of other companies. In addition, Adjusted EBITDA is one of the primary measures management uses to monitor and evaluate financial and operating results.
We consider Adjusted EBITDA to be an important indicator of our operational strength and performance of our business and a useful measure of our historical operating trends. However, there are significant limitations to the use of Adjusted EBITDA since it excludes interest and other income, sales tax accrual, stock-based compensation expense, all of which impact our profitability, as well as depreciation and amortization related to the use of long-term assets which benefit multiple periods. We believe that these limitations are compensated by providing Adjusted EBITDA only with GAAP net loss and clearly identifying the difference between the two measures. Consequently, Adjusted EBITDA should not be considered in isolation or as a substitute for net loss presented in accordance with GAAP. Adjusted EBITDA as defined by us may not be comparable with similarly named measures provided by other entities.
|
(Unaudited) |
||||||||||||||
|
Three Months Ended
|
|
Years Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net income (loss) |
$ |
488 |
|
|
$ |
984 |
|
|
$ |
(918 |
) |
|
$ |
(1,980 |
) |
Reconciling items: |
|
|
|
|
|
|
|
||||||||
(Benefit) Provision for income taxes |
|
31 |
|
|
|
(81 |
) |
|
|
33 |
|
|
|
(62 |
) |
Restructuring severance expenses |
|
- |
|
|
|
- |
|
|
|
376 |
|
|
|
548 |
|
Sales tax accrual |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
227 |
|
Interest and other expense (income) |
|
(53 |
) |
|
|
(54 |
) |
|
|
(283 |
) |
|
|
(234 |
) |
Depreciation and amortization |
|
161 |
|
|
|
72 |
|
|
|
436 |
|
|
|
282 |
|
Stock-based compensation expense including liability classified awards |
|
233 |
|
|
|
249 |
|
|
|
876 |
|
|
|
1,596 |
|
Adjusted EBITDA |
$ |
860 |
|
|
$ |
1,170 |
|
|
$ |
520 |
|
|
$ |
377 |
|
About Intellicheck
Intellicheck is the leader in fraud identity management, delivering on-demand digital and physical identity verification solutions for KYC, AML, fraud prevention, and age verification needs. Our solution enables you to bring revenue generating capabilities online faster, so you can achieve greater productivity gains and accelerate customer acquisition. With more than two decades of experience, our mission is to provide seamless, invisible customer experiences with
Safe Harbor Statement
Statements in this news release about Intellicheck’s future expectations, including: the advantages of our products, future demand for Intellicheck’s existing and future products, whether revenue and other financial metrics will improve in future periods, whether Intellicheck will be able to execute its turn-around plan or whether successful execution of the plan will result in increased revenues, whether sales of our products will continue at historic levels or increase, whether brand value and market awareness will grow, whether the Company can leverage existing partnerships or enter into new ones, whether there will be any impact on sales and revenues due to an epidemic, pandemic or other public health issue and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These statements, which express management’s current views concerning future events, trends, contingencies or results, appear at various places in this release and use words like “anticipate,” “assume,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “future,” “intend,” “plan,” “potential,” “predict,” “project,” “sense”, “strategy,” “target” and similar terms, and future or conditional tense verbs like “could,” “may,” “might,” “should,” “will” and “would” are forward-looking statements within the meaning of the PSLRA. This statement is included for the express purpose of availing Intellicheck, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as: market acceptance of our products and the presently anticipated growth in the commercial adoption of our products and services; our ability to successfully transition pilot programs into formal commercial scale programs; continued adoption of our SaaS product offerings; changing levels of demand for our current and future products; our ability to reduce or maintain expenses while increasing sales; our ability to successfully expand the sales of our products and services into new areas including health care, auto dealerships and title insurance; customer results achieved using our products in both the short and long term; success of future research and development activities; the impact of inflation on our business and customer’s businesses and any effect this has on economic activity with our customer’s businesses; potential retail contraction, consumer economic concerns, reduced spending, and market turmoil and how such broad economic aspects effect our customer’s businesses; our ability to successfully market and sell our products, any delays or difficulties in our supply chain coupled with the typically long sales and implementation cycle for our products; our ability to enforce our intellectual property rights; changes in laws and regulations applicable to the our products; our continued ability to access government-provided data; the risks inherent in doing business with the government including audits and contract cancellations; liability resulting from any security breaches or product failure, together with other risks detailed from time to time in our reports filed with the SEC. We do not assume any obligation to update the forward-looking information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250320929167/en/
Investor Relations: Gar Jackson (949) 873-2789 / gjackson@intellicheck.com
Media and Public Relations: Sharon Schultz (302) 539-3747 / sschultz@intellicheck.com
Source: Intellicheck, Inc.