Intellicheck, Ping Identity, Amadeus, RealNetworks report impressive growth
Intellicheck and Ping Identity have announced positive financial figures for the second quarter of 2021, with increased revenues from their Software as a service (SaaS) offerings. Amadeus, for its part, has reported gains across most of its solutions and services especially as the travel industry is gradually reviving from the setbacks of Covid-19, while RealNetworks says its revenue for the period doubled year-on-year with its Safr biometrics business witnessing a 282 percent growth.
Record quarterly revenue for Intellicheck
Intellicheck announced record revenue for its biometrics and authentication solutions in Q2 2021, to the tune of $4,797,000, compared to just under $2 million in the same period a year earlier.
Its SaaS revenue, the release notes, rose 93 percent to $3,234,000 as of June 30, and represents about 67 percent of the company’s total sales for the period. This SaaS revenue is about three times what the company earned from the same service in Q2 2020.
The company reported total cash of $11.9 million with shareholders’ equity totaling $22.1 million as of June 30, 2021. Intellicheck however clarified that the financial figures do not take into account any adjustments that may be required in connection with the completion of the company’s review process.
“We continue to execute our strategic plan for growth and expansion in current and new market verticals. Recognizing that this requires investment, we have increased our investments in sales and marketing and have added new developers to fuel our R&D efforts. This productive quarter demonstrates we are already seeing the impact,” said Intellicheck Chief Executive Officer Bryan Lewis.
However, the company reported a net loss for the quarter of $738,000 or $0.04 per diluted share.
Ping Identity reports ‘active’ second quarter
Ping Identity has announced that its second quarter performance – ending June 30 – was eventful as it not only registered revenue growth of 34 percent year-on-year to $78.9 million for Q2, but also completed the acquisition of SecuredTouch to integrate advanced fraud detection capabilities including behavioral biometrics into the PingOne Cloud Platform.
Its SaaS brought in revenue of $13.4 million grew 51 percent, up from the $8.9 million earned in the second quarter of 2020, the company notes in a press statement.
According to the statement, Ping Identity’s performance during the quarter under review include an Annual Recurring Revenue of $279.6 million representing a 19 percent increase compared with the same period last year; total revenue of $78.9 million for Q2 2021; and in the six months to June, a net cash flow of $44.0 million and a dollar-based net retention rate of 111 percent.
Reacting to the company’s performance, CEO Andre Durand said: “We had an active second quarter, where we announced several new solutions at Identiverse, acquired SecuredTouch, drove significant deal activity, and exceeded expectations across all of our key metrics. Results were bolstered by sustained improvement in the demand environment, which drove substantial growth in ARR and revenue that give us confidence for strong execution during the remainder of 2021.”
Raj Dani, Ping Identity’s Chief Financial Officer, also expressed delight at their strong performance, attributing the feat to an increase in the demand environment and growing adoption of its PingOne solution for the enterprise.
Amadeus notes steady improvement as air travel resumes
Amadeus recorded improvements across all of its business activities in the second quarter including distribution, IT and hospitality solutions, revenue, adjusted profit, free cash flow and net financial debts according to a release.
President and CEO Louis Maroto said they remain committed to their cost optimization and customer support efforts, and will try to build on the trend, notably, as air bookings and passenger boardings are gradually improving.
“During the first half of the year we have maintained commercial momentum, signing 37 new contracts or renewals in our Distribution business, and progressing with our NDC strategy. We have also signed new Airline IT solution agreements with major airlines, while in our Hospitality business, we expanded our portfolio of customers and saw continued demand for partnership developments,” said Maroto.
He added: “In the coming months, we are optimistic that, as vaccination programs keep progressing, travel restrictions are lifted, and traveler sentiment continues to improve, this should translate into a more consistent and stronger recovery over time.”
The Amadeus booking system has adopted IBM’s blockchain-based Covid-19 health pass and six airlines have just begun using it. The system keeps apace with countries’ constantly-changing entry requirements, meaning airport staff do not need to. 474 airlines are registered with the Madrid-based company, reports Quartz.
AI businesses drive RealNetworks quarterly growth
Safr and Kontxt formed the backbone of RealNetworks’ revenue growth for the second quarter 2021, accounting for 282 and 15 percent growth respectively, averaging a year-on-year rate of 101 percent.
A press release said RealNetwork’s strong growth and no debts, as of June 30, 2021, set the company on the right part to meeting its future growth objectives.
As of June 30, 2021, the company had $29.9 million in unrestricted cash and cash equivalents, as opposed to $17.0 million at March 31, 2021, and $23.9 million at December 31, 2020, the release states, noting that its balance sheet was further strengthened with the closing of an underwritten public offering that resulted in net proceeds to the company of approximately $20.1 million.
“In Q2 we continued to make great progress in our AI-based businesses, SAFR and KONTXT. In the aggregate, our AI businesses grew 101% year over year – 282% for SAFR and 15% for KONTXT. Further, we strengthened our balance sheet by raising $20.1 million in net proceeds through a public offering during the quarter. This enables us to continue to scale our investments in our AI growth businesses,” said Rob Glaser, Founder, Chairman, and Chief Executive Officer of RealNetworks.
The company also made projections into the third quarter saying it expects revenue within that period to be within the range of $13.5 million to $15.5 million, and also hope gains from their continuing operations as well as investments will set them up for double-digit revenue growth in the next two years.
Safr was recently recognized by Axis Communications for their collaboration on various biometric projects in the Middle East and Africa throughout the past year.