Intellicheck, Inc. IDN
We originally were incorporated in the state of New York in 1994 as Intelli-Check, Inc. In August 1999, we reincorporated in Delaware. On March 14, 2008, our corporation was renamed Intelli-Check - Mobilisa, Inc. after the consummation of the merger with Mobilisa, Inc. ("Mobilisa") (references to "Intelli-Check" in this annual report refer to the Company prior to the merger with Mobilisa). At the closing of the merger, our headquarters were moved to Mobilisa's offices in Port Townsend, Washington. On October 27, 2009, we made a further change in our name to Intellicheck Mobilisa, Inc. On May 4, 2017, with the approval of our shareholders, we changed our name to Intellicheck, Inc. ("Intellicheck," "we," "our," "us," or "the Company"). On August 31, 2009, the Company acquired 100% of the common stock of Positive Access Corporation ("Positive Access"), a developer of driver's license reading technology. The acquisition of Positive Access expanded the Company's technology portfolio and related product offerings and allowed the Company to reach a larger number of customers through Positive Access's extensive distribution network. On December 31, 2018, we formally merged the Mobilisa and Positive Access subsidiaries into one corporation under the name Intellicheck, Inc.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.7M | $20.0M | $18.9M | $16.0M | $16.4M | $10.7M | $7.7M | $4.4M | $3.6M | $3.8M |
| Cost of revenue | $2.2M | $1.8M | $1.4M | $1.3M | $3.5M | $1.4M | $995.8K | $386.6K | $521.8K | $769.0K |
| Gross profit | $20.5M | $18.2M | $17.5M | $14.7M | $12.9M | $9.3M | $6.7M | $4.0M | $3.1M | $3.1M |
| R&D | $5.3M | $3.9M | $4.7M | $6.0M | $5.5M | $3.7M | $3.7M | $2.9M | $1.9M | $2.4M |
| SG&A | $14.1M | $15.5M | $15.1M | $12.7M | $14.9M | $8.9M | $5.7M | $5.2M | $5.9M | $6.4M |
| Total operating expenses | $19.4M | $19.3M | $19.8M | $18.7M | $20.4M | $12.6M | $9.3M | $8.1M | $9.2M | $8.8M |
| Operating income | $1.1M | -$1.2M | -$2.3M | -$4.0M | -$7.5M | -$3.3M | -$2.6M | -$4.1M | -$6.1M | -$5.7M |
| Pre-tax income | $1.3M | -$885.0K | -$2.0M | -$4.0M | -$7.5M | — | — | — | — | — |
| Income tax | $58.0K | $33.0K | $62.0K | $124.0K | $0 | — | — | — | — | — |
| Net income | $1.3M | -$918.0K | -$2.0M | -$4.2M | -$7.5M | -$2.5M | -$2.5M | -$4.0M | -$6.0M | -$5.7M |
| EPS, basic | 0.07 | -0.05 | -0.10 | -0.22 | -0.40 | -0.14 | -0.16 | — | — | — |
| EPS, diluted | 0.06 | -0.05 | -0.10 | -0.22 | -0.40 | -0.14 | -0.16 | -0.26 | -0.48 | -0.58 |
| Shares, diluted (wtd. avg.) | $20.2M | $19.3M | $19.2M | $18.8M | $18.6M | $17.3M | $15.8M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $9.7M | $4.7M | $4.0M | $5.2M | $13.7M | — | — | — | $8.0M | $3.1M |
| Receivables | $3.4M | $4.7M | $4.7M | $2.6M | $2.2M | $2.1M | $1.7M | $1.0M | $652.6K | $502.1K |
| Inventory | — | — | — | — | — | — | $6.1K | $82.3K | $85.3K | $70.5K |
| Total current assets | $13.9M | $9.9M | $14.4M | $13.3M | $16.5M | $15.6M | $5.4M | $5.7M | $9.0M | $3.8M |
| Property, plant and equipment | $394.0K | $536.0K | $666.0K | $749.0K | $737.0K | $139.0K | $181.7K | $264.6K | $211.6K | $270.8K |
| Goodwill | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M | $8.1M |
| Other intangibles | $2.1M | $2.4M | $575.0K | $273.0K | $378.0K | $483.0K | $174.2K | $306.6K | $463.6K | $2.2M |
| Total assets | $24.5M | $20.9M | $23.8M | $22.5M | $25.7M | $24.3M | $14.0M | $14.5M | $17.9M | $14.5M |
| Accounts payable | $226.0K | $443.0K | $884.0K | $358.0K | $368.0K | $46.0K | $95.4K | $73.3K | $71.6K | $14.1K |
| Total current liabilities | $3.8M | $3.2M | $6.5M | $4.8M | $6.1M | $2.1M | $2.2M | $1.5M | $1.6M | $1.4M |
| Total liabilities | $3.8M | $3.2M | $6.5M | $4.8M | $6.1M | $2.1M | $2.2M | $1.5M | $1.9M | $1.6M |
| Retained earnings | -$133.2M | -$134.5M | -$133.6M | -$130.1M | -$127.4M | -$119.4M | -$116.9M | -$114.4M | -$110.4M | -$104.4M |
| Total equity | $20.7M | $17.7M | $17.3M | $17.7M | $19.0M | $22.2M | $11.8M | $12.9M | $16.0M | $12.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.5M | -$2.7M | -$647.0K | -$3.5M | $1.1M | -$19.0K | -$1.8M | -$4.2M | -$3.7M | -$4.2M |
| Depreciation and amortisation | $195.0K | $187.0K | $177.0K | $180.0K | $64.0K | $88.0K | $117.6K | $88.5K | $96.8K | $118.7K |
| Stock-based compensation | $777.0K | $876.0K | $1.6M | $2.5M | $6.4M | $3.5M | $584.9K | $186.7K | $435.7K | $935.9K |
| Capital expenditure | $52.0K | $57.0K | $93.0K | $192.0K | $662.0K | $45.0K | $20.1K | $141.5K | $37.6K | $64.1K |
| Investing cash flow | -$265.0K | $2.9M | -$414.0K | -$5.1M | -$662.0K | -$416.0K | $22.0K | -$101.1K | $4.8K | -$28.5K |
| Financing cash flow | $708.0K | $485.0K | -$155.0K | $97.0K | $76.0K | $10.2M | $793.7K | $687.5K | $8.7M | $1.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001040896-26-000009.
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