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Intellicheck Inc. (IDN-10.85%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $19,997,000, an increase from $18,906,000 in the previous year. This growth is attributed primarily to higher SaaS revenues.
Cost of revenues increased to $1,831,000, resulting in a gross profit of $18,166,000, compared to $17,531,000 in the prior year.
Operating expenses decreased to $19,334,000 from $19,807,000, with a noted decrease in research and development expenses due to capitalized software development costs.
The company reported a net loss of $918,000, compared to a net loss of $1,980,000 in the previous year.
Intellicheck's cash and cash equivalents increased to $4,666,000, and the company had a working capital of $6,726,000 as of December 31, 2024.
The filing discusses Intellicheck's focus on expanding its market share in identity validation solutions, targeting sectors such as financial services, retail, and government.
Intellicheck's primary revenue sources include sales of its products and services, SaaS revenue, and support services.
The company highlights risks related to competition, technological changes, and regulatory compliance, which could impact its business operations.
Intellicheck does not anticipate paying cash dividends in the foreseeable future, opting instead to reinvest in business operations and growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Intellicheck Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.