Intellicheck Reports 10% Revenue Growth in Q2 2025, Net Loss Increases

Intellicheck, Inc. reported its financial results for the second quarter and first half of 2025, revealing a revenue increase of 10% year-over-year for the quarter, totaling approximately $5.1 million, compared to $4.7 million in the same period of 2024. For the six months ended June 30, 2025, revenues rose by 7% to $10 million, up from $9.4 million in the prior year. The growth in revenue was primarily driven by an increase in Software-as-a-Service (SaaS) revenue, which accounted for $5.1 million in the second quarter and $9.9 million for the first half of the year, reflecting a 10% and 8% increase, respectively.

Despite the revenue growth, Intellicheck reported a net loss of $251,000 for the second quarter of 2025, compared to a loss of $127,000 in the same quarter of 2024. The net loss for the first half of 2025 remained unchanged at $569,000, consistent with the previous year. The company's gross profit margin slightly decreased to 90% for both the second quarter and the first half of 2025, down from 91% in the same periods of 2024. Operating expenses increased by 10% to $4.9 million for the second quarter, primarily due to reduced capitalization of research and development costs.

Intellicheck's balance sheet as of June 30, 2025, showed total assets of $23.1 million, an increase from $20.9 million at the end of 2024. The company had cash and cash equivalents of $8.6 million, up from $4.7 million at the end of the previous year. Working capital also improved to $7.1 million, indicating a stronger liquidity position. The total stockholders' equity rose to $18 million, reflecting an increase from $17.7 million at the end of 2024.

In terms of operational metrics, Intellicheck's customer base and engagement levels have shown positive trends, although specific user statistics were not disclosed in the filing. The company continues to focus on expanding its market presence and enhancing its product offerings, which include identity verification solutions aimed at preventing fraud in various sectors. The company has also indicated plans to leverage its existing cash and operational revenues to meet working capital needs for at least the next 12 months.

Looking ahead, Intellicheck anticipates that its current cash reserves, along with expected operational cash flow, will be sufficient to support its business objectives. The company remains open to raising additional funds to facilitate growth initiatives, including potential acquisitions and market expansion efforts. However, it acknowledges the inherent uncertainties in securing such funding on favorable terms.