Intellicheck Mobilisia ( (IDN) ) has released its Q3 earnings. Here is a breakdown of the information Intellicheck Mobilisia presented to its investors.
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Intellicheck Mobilisia is a leading identity company that provides on-demand digital and physical identity validation solutions across various sectors including financial services, fintech, and government agencies in North America.
In its third-quarter 2024 financial report, Intellicheck showed a stable revenue performance with a total revenue of $4.709 million, slightly down from the same period last year. Despite a flat revenue, SaaS revenue saw a modest increase of 1%, indicating a positive trend in their subscription-based business model.
Key financial metrics highlighted include a strong gross profit margin maintained at 91% and a minor decrease in operating expenses by 1%, primarily attributed to reduced stock-based compensation expenses. However, the company reported a widened net loss of $837,000 compared to the previous year, while adjusted EBITDA showed improvement, reducing the loss to $167,000 from $271,000.
Looking ahead, Intellicheck’s management remains focused on growth through strategic market expansions, as emphasized by CEO Bryan Lewis. The company’s financial position remains solid with $5.7 million in cash and cash equivalents, positioning it well for future developments and potential market opportunities.
