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Intellicheck, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a slight decrease in revenues to $4,709,000 from $4,760,000 in the same quarter the previous year. This decrease is primarily attributed to lower equipment revenues.
Gross profit for the quarter was $4,285,000, compared to $4,332,000 in the previous year. The gross profit margin remained consistent at 91%.
Operating expenses decreased slightly to $5,195,000 from $5,227,000 in the same period of the previous year. This decrease was mainly due to lower stock-based compensation expenses.
The company reported a net loss of $837,000 for the quarter, compared to a net loss of $724,000 in the previous year.
Cash and cash equivalents were $5,747,000 as of September 30, 2024, with a working capital of $5,699,000.
Intellicheck's total assets amounted to $20,682,000, with total liabilities of $3,947,000 and stockholders' equity of $16,735,000.
The filing also discusses the company's liquidity position, stating that existing cash and expected cash from operations are anticipated to meet working capital requirements for at least the next 12 months.
Intellicheck continues to focus on developing and marketing identity verification solutions, with a particular emphasis on preventing identity fraud in commercial retail and banking sectors.
The company is not currently involved in any material legal proceedings, although it is defending a class action complaint related to the Illinois Biometric Information Privacy Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Intellicheck Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.