10-Q · May 12, 2026
Intellicheck, Inc. reported Q1 2026 results with revenue of $5,524,000, reflecting a 13% increase compared to the prior year period's revenue of $4,894,000. The company's gross margin improved to 91%, and it achieved…
Earnings analysis · 10-Q
IDN earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Intellicheck delivered Q2 revenue of $5.941 million, beating consensus by 4.4%, while diluted EPS of $0.03 matched estimates. Revenue grew approximately 18.8% year over year, but operating margin fell to negative 5.8%…
Read full summary
Intellicheck delivered Q2 revenue of $5.941 million, beating consensus by 4.4%, while diluted EPS of $0.03 matched estimates. Revenue grew approximately 18.8% year over year, but operating margin fell to negative 5.8% from positive 9.8% in the prior quarter, despite reported net income of $0.663 million and adjusted EBITDA of $1.050 million. Free cash flow improved to approximately $3 million, but the planned 70%–75% second-half transaction-volume reduction from a customer representing 29% of first-half revenue creates a substantial forward risk.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.03
What stood out
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Revenue beat estimates, up year over year
Q2 revenue was $5.941 million, up approximately 18.8% from $5 million in Q2 2025 and down approximately 0.98% from $6 million in Q1 2026. Revenue exceeded the $5.690 million consensus estimate by 4.4%.
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Gross margin remained near 90%
Gross margin was 89.8%, down from 91.0% in Q1 2026 but essentially flat versus 89.8% in Q2 2025.
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EPS improved year over year
Diluted EPS was $0.03, unchanged from Q1 2026 and improved from a $(0.01) loss in Q2 2025; EPS was in line with the $0.03 consensus estimate.
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Free cash flow strengthened
Free cash flow was approximately $3 million, improving from $0.412 million in Q1 2026 and $(2) million in Q3 2025.
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Quarter remained profitable
Management reported adjusted EBITDA of $1.050 million and net income of $0.663 million for the quarter, supporting the expectation of positive adjusted EBITDA in the second half of 2026 and full-year profitability.
What to watch
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Major customer volume transition
A customer representing 29% of revenue for the first six months of 2026 is transitioning certain use cases to a multi-vendor architecture. The customer’s plan contemplates a 70%–75% reduction in transaction volumes with Intellicheck during the second half of 2026, although reductions through August 13, 2026 were less than the planned pace and magnitude.
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High customer concentration
Customer concentration remains significant: the top ten customers represented approximately 77% of total revenue in 2025 and 71% in 2024, while one customer represented approximately 31% of 2025 revenue and 29% of first-half 2026 revenue.
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Geopolitical and inflation exposure
The filing added geopolitical and macroeconomic risk, including potential supply-chain and cloud infrastructure cost pressure from sanctions, trade restrictions and energy volatility. Lower customer transaction activity could also reduce revenue; the company stated it does not currently anticipate material near-term impacts.
Management's outlook
No formal numeric revenue or EPS guidance was provided. Management expects positive adjusted EBITDA in the second half of 2026 and profitability for full-year 2026.
Earlier filings 4
10-K · March 19, 2026
Intellicheck positions itself as a SaaS-first identity verification provider focused on KYC, age verification and fraud prevention, leveraging proprietary parser technology, biometrics and third-party data to validate…
10-Q · May 13, 2025
Intellicheck reported Q1 revenue of $4,894,000, up $214,000 (≈4.6%) versus Q1 2024, with gross profit of $4,392,000 (89.7% margin). The company narrowed operating loss to $(348,000) (operating margin -7.1%) from…
10-Q · November 14, 2024
Intellicheck reported Q3 revenue of $4,709,000 (down from $4,760,000 a year ago) and GAAP diluted loss per share of $(0.04). Gross profit remained high at $4,285,000 (≈91.0% margin) but the company recorded an operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.