Intellicheck Announces Second Quarter Fiscal 2019 Financials

Year Over Year Revenue Increased 56% to $1,558,000 and SaaS Revenue Increased 79% to $1,121,000

MELVILLE, NY – August 1, 2019 -- Intellicheck, Inc. (NYSE American: IDN), a trusted industry leader in technology solutions that stop identity theft and fraud with real-time identity authentication and age verification, today announced its financial results for the second quarter ended June 30, 2019.

Revenue for the second quarter ended grew 56% to $1,558,000 versus $1,001,000 in the prior year comparable period. SaaS revenue in the second quarter grew 79% and totaled $1,121,000 versus $625,000 in the prior year comparable period. Gross profit as a percentage of revenues was 85.9% for the three months ended June 30, 2019 versus 91.8% in the prior year comparable period.

“We are excited about the continued momentum and interest in our SaaS-based product offerings focused on stopping the use of fake ID’s. This quarter our SaaS revenues eclipsed $1 million as we continue rolling out our technology solutions to our growing list of banks that includes four top ten banks and our first online bank as well as retailers focused on protecting customers and stopping fraud, and preventing youth from accessing age-restricted products like vaping tools and alcohol,” stated Intellicheck CEO Bryan Lewis.

“I believe our achievements demonstrate that we are a very different company today than when I joined just over one year ago and my sense is we are just scratching the surface as I look at the opportunities for growth in the months to come,” concluded Lewis.

The net loss for the three months ended June 30, 2019 was ($874,000) or ($0.06) per diluted share an improvement versus ($1,100,000) or ($0.07) per diluted share in the comparable prior year period. Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, stock-based compensation expense and certain non-recurring charges) improved to a loss of ($785,000) for the second quarter of 2019 versus a loss of ($1,018,000) in the prior year comparable period. A reconciliation of adjusted EBITDA to net loss is provided elsewhere in this release.

Cash at June 30, 2019 totaled $3,061,000 and stockholders’ equity totaled $11,543,000 at the end of the period.

The financial results reported today do not take into account 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 second quarter ended June 30, 2019.

Conference Call Information:

The Company will hold an earnings conference call on August 1 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 13692832. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13692832. The replay will be available beginning approximately two hours after the completion of the live event and will remain available until August 15th, 2019.