Intellicheck (IDN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue grew 16% year-over-year to $5.941 million, with SaaS revenue comprising nearly all of it and marking four consecutive quarters of profitability.

• Net income for Q2 2026 was $0.7 million, reversing a prior-year loss, and adjusted EBITDA was $1.1 million, positive for the fifth straight quarter.

• Gross margin reached 91% for Q2 2026, with adjusted gross profit margin at 93.6%.

• Customer diversification strategy is driving growth, but a major customer representing 29% of revenue is transitioning to a multi-vendor approach, though volume reductions have not yet materialized and a new purchase order was signed.

• Operating expenses were $4.9 million, down 1% year-over-year, primarily due to lower headcount.

Financial highlights

• Six-month revenue totaled $11.5 million, with net income of $1.3 million and adjusted EBITDA of $2 million.

• Cash from operations for the first half was $2.2 million; ended Q2 with $11.8 million in cash and no debt.

• Adjusted EBITDA margin was 17.7% for Q2 and 17.3% for the first half.

• Basic and diluted EPS for Q2 2026 was $0.03; for the six months, $0.06.

• Total assets stood at $25.6 million as of June 30, 2026.

Outlook and guidance

• Management expects positive adjusted EBITDA for the second half of 2026 and full-year profitability.

• A major customer transition may reduce 2026 revenue compared to 2025, with anticipated 70–75% volume reduction in the second half, but current reductions are less than planned.

• No plans to raise capital in the near term; anticipate some cash usage in operations due to invoicing timing.