MELVILLE, NY - August 12, 2025 - 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 second quarter ended June 30, 2025. Total revenue for the second quarter ended June 30, 2025 grew 10% to a record $5,123,000 compared to $4,672,000 in the same period of 2024. SaaS revenue increased 10% and totaled $5,080,000 compared to $4,627,000 in the same period of 2024. 

“Intellicheck has achieved another record quarter successfully expanding our presence in new and existing market verticals. We are particularly excited by the signing of multiple multiyear agreements with our most prominent financial services clients. This success underscores the value of our industry-leading identity verification technology, which is accelerating customer onboarding and importantly stopping fraud with a 99.975% decisioning success rate when using our technology. We believe no competitor has such accuracy. Looking ahead, we will continue to drive growth with a keen focus on our sales and marketing efforts,” said Intellicheck CEO Bryan Lewis.

Gross profit as a percentage of revenues remained strong at 90%, in line with expectations, for the three months ended June 30, 2025 compared to 91% in the same period in 2024. 

Operating expenses for the three months ended June 30, 2025, which consist of selling, general and administrative expenses and research and development expenses, increased 10% to $4,898,000 for the second quarter of 2025 compared to $4,443,000 for the same period of 2024. Included within operating expenses for the second quarters of 2025 and 2024 were $202,000 and $72,000, respectively, of non-cash stock-based compensation expense. 

Net loss for the three months ended June 30, 2025 was ($251,000) or ($0.01) per diluted share compared to a net loss of ($127,000) or ($0.01) per diluted share for the same period in 2024. 

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 $145,000 to $75,000 for the second quarter of 2025 as compared to a loss of ($70,000) for the same period of 2024. A reconciliation of net loss to adjusted EBITDA is provided in this release.

As of June 30, 2025, the Company had cash and cash equivalents that totaled $8.6 million and stockholders’ equity totaled $18.0 million. 

Conference Call Information

The Company will hold an earnings conference call today, August 12, 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 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 13754628. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13754628. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until August 19, 2025.

Contact

Investor Relations: Gar Jackson (949) 873-2789 / gjackson@intellicheck.com 
Media and Public Relations: Sharon Schultz (302) 539-3747 / sschultz@intellicheck.com

‍About Intellicheck

Intellicheck, the industry leader in identity verification management, prevents the use of unauthorized IDs to stop identity-based fraud. Intellicheck is the only SaaS-based validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences across a wide variety of sectors, both in-person and digitally. Each year, we validate around 100 million identities across North America, providing a seamless, invisible ID verification with 99.75% decisioning in under a second. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, X, Facebook, and YouTube.

‍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 and auto dealerships; 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; 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.

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