The following is a summary of the Intellicheck, Inc. (IDN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Intellicheck reported a 10% increase in Q1 2024 revenues to $4,680,000, driven by a 9% increase in SaaS revenue representing 98% of total revenue.

• The gross profit margin remained strong at 90.7% for Q1 2024.

• Despite Q1 2024 net loss of $442,000, this represents a $945,000 improvement from Q1 2023.

• Adjusted EBITDA increased by $441,000 or 79% for Q1 2024.

• Intellicheck reported a healthy balance sheet with a strong cash and short-term investments balance of $9.2 million.

• The company anticipates maintaining year-end headcount at 2022 levels and projects 2024 gross margins of approximately 90% to 91%.

Business Progress:

• Intellicheck reported growth in SaaS revenues and improvement in adjusted EBITDA, net income, and EPS.

• Through entry into the educational sector and partnership with an international social media company, Intellicheck is diversifying end-use markets and client base.

• The company noted marketing efforts will boost in 2024, focusing on tradeshows and regional conferences.

• Implementations of Intellicheck's technology are scheduled by the top three banks in Q4 2024, further expanding its client portfolio.

• Intellicheck continues to target improved efficiency, with an 810 basis point decrease in adjusted operating expenses as a percentage of revenues, year-on-year drop in R&D expenses, and planned decrease in non-cash spending.

• Agreements with eight partners and impending signing of a ninth demonstrate solid momentum in pipeline growth and booking quota reach.

More details: Intellicheck IR

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