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Intellicheck nets positive fourth quarter and anticipates further growth

Intellicheck nets positive fourth quarter and anticipates further growth
 

Intellicheck netted $757,000 in income in the fourth quarter of its fiscal 2023, a dramatic improvement capping a year in which the company lost $1.98 million.

The full-year net loss, which works out to $0.10 per diluted share, represents a major reduction of the $4.16 million net loss, $0.22 per diluted share, in 2022. Intellicheck had a net loss of $869,000 in Q4 2022.

Revenue for Intellicheck in the year ended December 31 grew by 18 percent to $18.9 million, compared to a hair under $16 million in 2022. Gross profit ticked up on higher SaaS revenues, and operating expenses grew by just over a million dollars to $19.8 million.

Intellicheck has also hired a new CTO, Channel and Technology Alliances leader and VP of Marketing in the past year. Christine Elson joined as VP of Marketing in January.

“We anticipate continued growth driven by our expectations from our pipeline and the number of deals anticipated to go live in Q2 and Q3,” says Intellicheck CEO Bryan Lewis. “We believe that we are on the cusp of a number of sizeable revenue generators that will really move the needle in the back half of the year. These include the addition of new retailers with our long standing bank partners, global media companies, auto, title and now crypto currency, our latest vertical.”

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