Intellicheck (IDN) investor relations material

Key business highlights

• Provides SaaS-based identity verification with proprietary barcode analysis, enabling rapid and accurate detection of fake IDs and fraud.

• Validates nearly 100 million identities in North America, covering about half of the US adult population.

• Serves diverse markets including banking, retail, automotive, law enforcement, and employee onboarding, primarily as a white-label solution.

• Maintains a sticky customer base with a 100% renewal rate among major revenue-generating clients through Q2 2025.

• Holds 90% gross margins and expects positive adjusted EBITDA through 2025, with inbound leads up 30%.

Financial performance and customer growth

• Q2 revenue reached $5.1 million, with SaaS revenue just over $5 million and $8.6 million in cash and short-term investments.

• Net loss was $251,000, but EBITDA was positive at $75,000, with expectations for continued improvement.

• Major customers include four of the top 10 banks, two leading credit card issuers, and significant law enforcement agencies.

• Recent deals include a high seven-figure, three-year contract with a regional bank and expansion in title insurance and buy now, pay later markets.

• Top 100 customers represent 88% of revenue, with the top four accounting for a significant but diversified share.

Market trends and regulatory drivers

• Identity fraud remains a $27 billion problem, with account takeover and remote onboarding as growing threats.

• Increasing regulatory pressure around fraud prevention and KYC compliance is driving demand, especially in remote hiring and age-restricted online services.

• State mandates for age verification on the internet and potential voting security requirements present new revenue opportunities.

• Customers value the solution's 99.996% accuracy rate, which supports pricing power and customer retention.

• The company is positioned to benefit as regulatory standards for identity verification become more stringent.