Intellicheck (IDN) Q3 2026 earnings summary

Executive summary

• Fifth consecutive profitable quarter and sixth consecutive quarter of positive Adjusted EBITDA; Q3 net income and Adjusted EBITDA increased YoY.

• Q3 revenue was $5.739 million, down 5% YoY; nine-month revenue was $17.204 million, up 7%.

• Q3 net income was $471,000 and Adjusted EBITDA was $892,000; cash reached $13.172 million with no debt.

• A large customer's staged vendor transition reduced volumes and may materially lower future revenue; FY2026 net income and positive Adjusted EBITDA are still expected.

Financial highlights

• Q3 operating income was $367,000 versus $238,000; net income was $471,000 versus $290,000 YoY.

• Nine-month net income was $1.770 million versus a $279,000 loss; operating income was $1.482 million versus an operating loss of $408,000.

• Q3 operating expenses were $4.9 million versus $5.2 million; R&D and SG&A both declined YoY.

• Q3 SaaS revenue was $5.721 million, down 3%; other revenue was $17,000 versus $139,000, mainly reflecting lower non-recurring engineering revenue. Nine-month SaaS revenue rose 8% to $17.155 million.

• Adjusted EBITDA was $892,000 versus $631,000 in Q3; nine-month Adjusted EBITDA was $2.877 million versus $688,000.

Outlook and guidance

• If the customer's transition proceeds substantially as communicated, FY2026 revenue is expected to decline versus 2025; management expects FY2026 net income and positive Adjusted EBITDA.

• Available cash and expected operating cash are expected to cover working capital and capital expenditure needs for at least 12 months from the report date.

• Priorities include Desktop delivery, channel partnerships, engineering and go-to-market investment, and expansion into new verticals while controlling costs.