MELVILLE, NY - November 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 third quarter ended September 30, 2025. Total revenue for the third quarter ended September 30, 2025 grew $1,305,000, or 28%, to a record $6,014,000 compared to $4,709,000 in the same period of 2024. SaaS revenue increased 26% and totaled $5,868,000 compared to $4,661,000 in the same period of 2024. 

“We had an excellent third quarter as evidenced by the 28 percent increase in revenue. We achieved a $1.1 million improvement in net income and $798,000 improvement in adjusted EBITDA versus the prior year. We believe our continued market diversification and progress in advancing existing customer usage of our technology demonstrates our strategy is working. We are looking forward to continuing to grow our customer base and delivering the results that have made us an industry leader in identity verification,” said Intellicheck CEO Bryan Lewis. 

Gross profit as a percentage of revenues remained strong at 91%, in line with expectations, for both the three months ended September 30, 2025 and 2024. 

Operating expenses for the three months ended September 30, 2025, which consist of selling, general and administrative expenses and research and development expenses, were relatively flat at $5,205,000 for the third quarter of 2025 compared to $5,195,000 for the same period of 2024. Included within operating expenses for the third quarters of 2025 and 2024 were $204,000 and $237,000, respectively, of non-cash stock-based compensation expense. 

Net income for the three months ended September 30, 2025 improved to $290,000 or $0.01 per diluted share compared to a net loss of ($837,000) or ($0.04) 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 $798,000 to $631,000 for the third quarter of 2025 as compared to a loss of ($167,000) for the same period of 2024. A reconciliation of net loss to adjusted EBITDA is provided in this release.

As of September 30, 2025, the Company had cash and cash equivalents that totaled $7.2 million and stockholders’ equity that totaled $18.9 million. 

Conference Call Information

The Company will hold an earnings conference call today, November 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 13755708. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13755708. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until November 19, 2025.

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