Intellicheck Announces Second Quarter 2024 Financial Results

MELVILLE, NY - August 8, 2024 - 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, 2024. Total revenue for the second quarter ended June 30, 2024 declined 0.9% to $4,672,000 compared to $4,716,000 in the same period of 2023. SaaS revenue declined 0.8% and totaled $4,627,000 compared to $4,663,000 in the same period of 2023.

“Our focus on innovation and market expansion has set the stage for future financial growth. We believe our market diversification strategy is already showing its value in the face of economic variability in key markets such as retail. Going forward, we expect those headwinds will become tailwinds that will contribute to our growth and profitability,” said Intellicheck CEO Bryan Lewis.

Gross profit as a percentage of revenues was 90.5%, in line with expectations, for the three months ended June 30, 2024 compared to 92.5% in the same period in 2023.

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