Intellicheck (IDN) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 revenue of $5.52 million, up 13% year-over-year, with SaaS accounting for nearly all revenue and net income improving to $636,000 from a prior-year loss.

• Adjusted EBITDA reached $935,000 (17% margin), marking the fourth consecutive quarter of positive adjusted EBITDA and third consecutive quarter of positive net income.

• Ended the quarter with over $10 million in cash, no debt, and strong working capital and stockholders' equity.

• Diversification strategy reduced retail to 31% of revenue, with banking & lending at 49%-50% and new verticals gaining traction.

• Expanded partnerships and customer base, including major banks, title insurance, and lease-to-own companies.

Financial highlights

• Total revenue grew 13% year-over-year to $5,524,000; SaaS revenue also up 13% to $5,514,000.

• Gross profit margin improved to 91% (GAAP) and 93.4% (adjusted), reflecting operating efficiency.

• Operating expenses decreased 5% year-over-year, with SG&A down 6% and R&D down 4%.

• Net income swung to $636,000 from a $318,000 loss year-over-year; EPS improved to $0.03 per diluted share.

• Cash and equivalents at $10.1M as of 3/31/26; stockholders’ equity increased to $21.53M.

Outlook and guidance

• Expects positive EBITDA margins to continue, with potential acceleration in the second half of 2026 and positive net income for the full year.

• Gross margin expected to remain in the 90%-91% GAAP range, with adjusted margins at 92%-93%.

• Management expects incremental revenue to flow meaningfully to the bottom line at the current operating run rate.

• Alloy partnership and new verticals (title insurance, cargo freight, background checks, BNPL) expected to drive scalable growth.

• Operating expenses will grow at a rate below revenue growth to maintain operating leverage.