MELVILLE, N.Y.: $IDN #authentication--Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering on-demand digital and physical identity validation solutions, today announced its financial results for the third quarter ended September 30, 2024. Total revenue for the third quarter ended September 30, 2024 was relatively flat at $4,709,000 compared to $4,760,000 in the same period of 2023. SaaS revenue increased 1% and totaled $4,661,000 compared to $4,635,000 in the same period of 2023.

“The strategic moves we have made in expanding into new markets have yielded new sales and new sources of transaction volume. I remain laser focused on revenue growth and I will continue that intense focus for our shareholders and stakeholders alike,” said Intellicheck CEO, Bryan Lewis.

Gross profit as a percentage of revenues remained strong at 91%, in line with expectations, for the three months ended September 30, 2024, equaling the 91% in the same period in 2023.

Operating expenses for the three months ended September 30, 2024, which consist of selling, general and administrative expenses and research and development expenses, decreased 1% to $5,195,000 for the third quarter of 2024 compared to $5,227,000 for the same period of 2023. Included within operating expenses for the third quarters of 2024 and 2023 were $237,000 and $342,000, respectively, of non-cash stock-based compensation expense.

Net loss for the three months ended September 30, 2024 increased by $113,000 to ($837,000) or ($0.04) per diluted share compared to a net loss of ($724,000) or ($0.04) per diluted share for the same period in 2023.

Adjusted EBITDA (earnings before interest and other income, provision for income taxes, sales tax accruals, depreciation, amortization, stock-based compensation expense and certain non-recurring charges) improved by $104,000 to a loss of ($167,000) for the third quarter of 2024 as compared to a loss of $(271,000) for the same period of 2023. A reconciliation of adjusted EBITDA to net loss is provided in this release.

As of September 30, 2024, the Company had cash and cash equivalents that totaled $5.7 million and stockholders’ equity totaled $16.7 million.

The unaudited financial results reported today do not consider any adjustments that may be required in connection with the completion of the Company’s review process and should be considered preliminary until Intellicheck files its Form 10-Q for the three and nine months ended September 30, 2024.

Conference Call Information
The Company will hold an earnings conference call today, November 13, 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 U.S., please dial 201-689-8037.

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 13745589. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13745589. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until November 20, 2024.

INTELLICHECK, INC.   UNAUDITED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 (in thousands, except share and per share amounts)
	Three months ended September 30,								Nine months ended September 30,
		2024				2023				2024				2023
REVENUES	$	4,709			$	4,760			$	14,060			$	13,730
COST OF REVENUES		(424	)			(428	)			(1,303	)			(1,112	)
Gross profit		4,285				4,332				12,757				12,618
OPERATING EXPENSES
Selling, general and administrative		4,018				3,677				11,562				11,609
Research and development		1,177				1,550				2,829				4,134
Total operating expenses		5,195				5,227				14,391				15,743
Loss from operations		(910	)			(895	)			(1,634	)			(3,125	)
OTHER INCOME
Interest and other income		73				179				230				181
Total other income		73				179				230				181
Net loss before provision for income taxes		(837	)			(716	If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news U.S. Special Operations Command Expands Contract with Palantir to Deliver Advanced AI and Mission Manager Capabilities Remote Revolutionizes Hiring with AI That Finds the Best Global Talent Seamlessly Kinaxis Offers a Solution to Streamline Bel’s Supply Chain Media Alert: NightWare Launches Campaign to Disrupt Sleep Iron Mountain announces the election of June Yee Felix to the Board of Directors DeepGreenX Group and Hues Capital Launch $10 Billion USD Fund to Accelerate AI, Green Energy, and Computing Power CitiusTech Awarded a 2024 AWS Partner Award Extreme Introduces Extreme Platform ONE: Integrated AI-Powered Automation That Radically Simplifies the Customer Experience in Enterprise Networking and Security Last News RSA at Cybertech Europe 2024 Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for… Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes How Austria is making its AI ecosystem grow Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries Sparkle and Telsy test Quantum Key Distribution in practice Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing… Most read SnapLogic Named a Visionary in the 2024 Gartner® Magic Quadrant™ for Data… SnapLogic, the leader in generative integration, today announced that it has been named by Gartner as a Visionary in the 2024 “Magic Quadrant for Data… Saviynt Named an Overall Leader in KuppingerCole’s 2024 Identity and Access… Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced it has been named an Overall Leader in the 2024… JetBlue Names Justin Thompson Vice President, IT Data and Analytics JetBlue (Nasdaq: JBLU) today announced the promotion of Justin Thompson to vice president, IT data and analytics. In this role, Thompson will oversee… Gigamon Recognized by Frost & Sullivan with a 2024 Best Practices Market… #CloudSecurity--Gigamon, a leader in deep observability, announced Frost & Sullivan recently analyzed the network packet brokers (NPB) market and… Newsletter signup Join our mailing list to get weekly updates delivered to your inbox. Sign me up! G11 Media Networks BitCity ChannelCity ImpresaCity SecurityOpenLab GreenCity ImpresaGreen ItalianChannelAwards AgendaIct Home Newsletter Staff Copyright Contact us InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , n. 21/2007 del 11/10/2007- Registration ROC n. 15698 G11 MEDIA S.R.L. Registered office Via NUOVA VALASSINA, 4 22046 MERONE (CO) - P.IVA/C.F.03062910132 Como business register n. 03062910132 - REA n. 293834 CAPITALE SOCIALE Euro 30.000 i.v. Cookie Privacy