Intellicheck : Investor Deck - May 12, 2026
IDN
Published on 05/12/2026 at 04:51 pm EDT
May 2026 NASDAQ: IDN
The only SaaS-based identity validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, realtime customer identity verification experiences.
"A true gamechanger in stopping fraud, top 5 all time."
SVP of Fraud, top 5 Financial Services Company with over $1.7 trillion in assets
Confidently prove identity in real-time with the only platform that leverages proprietary access to authoritative data in ID barcodes
"Prior to us using it in the field, we scanned over 1,000 known counterfeits each one was detected."
New York State DMV Director of Investigations
Validate identity and stop fraud losses while meeting AML/KYC requirements
Leverage a unique approach that is highly accurate, instant, and fully automated
Revenue
grew to a Q1 Record
$5.5M
13% increase vs 2025
Gross Margin
improved to
91.0%
Operating expenses
Decreased by
5%
to $4.5 million
Net Income
Improved to Q1 Record
$636,000
EPS
Improved to
$0.03
per diluted share
Adjusted EBITDA
improved to Q1 Record
$935,000
3.5
2.5
$18.9M $20.0M
$22.7M
$16.0M
$10M
+$1.3M
+$0.5M
$0M
-$1.0M
-$0.9M
-$1.5M
-$2.2M
Net Income ($M)
Adj. EBITDA ($M)
Revenue ($M)
+$2.6M
$20M
Net Income Swing
FY22 → FY25
Adj. EBITDA Swing
FY22 → FY25
Revenue ($M)
Net Income & Adj. EBITDA ($M)
1.5
0.5
Revenue Growth
4-year cumulative
-0.5
-1.5
-2.5
-3.5
First Profitable Year Full-year operating net income positive
-$3.9M
-4.5
-5.5
FY2022 FY2023 FY2024 FY2025
$27B
In U.S. Fraud in 2024, impacting
15 million people1
1.5B+
Victims of data breaches worldwide2
$16B
In account takeover fraud -a 19% increase1
29%
of identity fraud attributed to new account creation in 20243
79%
of auto dealerships had an identity fraud related loss within the last year4
Bottom Line:
Fraud Isn't Going Away!
Javelin
Identity Theft Resource Center
Experian 2024 Global Identity & Fraud Report
eLEND study
To Detect a Fraudulent ID
AI-generated fakes can fool visual-template checkers instantly. IDN checks hidden security features embedded in the barcode - invisible to fraudsters and unmatched by any peer.
- American
Association of Motor Vehicle Administrators -longstanding relationship sets us apart
major federal and state
law enforcement
agencies
Unique DMV Barcode Formats Mastered
Every state issues IDs with different barcode formats. IDN has worked for more than 25 years as the official test lab for state DMVs. No competitor has this knowledge base.
Identity Checks
Processed Annually
IDN processes approximately 100 million identity checks annually across all verticals it serves - creating a proprietary intelligence advantage and network effects that no competitor can replicate.
No state, province or territory DMV uses the same AAMVA standard on its own-each DMV adds additional unique security features
No two states, provinces or territories use the same format, there are over 250 unique ID encryptions in circulation between the US, Canada and Mexico
Which means…parsing the data and comparing it to the front of the ID with traditional document templating won't cut it.
Intuitive and easy to use technology
Cloud SaaS integrates with existing in-person, online and desktop workflows via existing hardware, mobile app, web portal or webhooks
Integrates with existing retail / branch hardware
Point-of-sale scanner
Branch check scanner
Mobile app
Frictionless and customer friendly
Fast, accurate validation eliminates "good customer frustration" and reduces abandonment
Easy one step process-no need for front, back and selfie
We continued to increase our penetration for authentication with significant organizations and new use cases
Now live Alloy, one of the leading providers of banking software that serves as a platform for many small banks and credit unions is anticipated to be a significant growth driver for the channel program.
grew significantly yr/yr. Intellicheck now works with two of the top four LTO companies.
Title
Insurance
GROWING
First American
Title
Top 2 title insurance
companies signed incl.
First American Title (subsidiary of First American Financial).
Higher revenue per scan; interest rate cuts should drive refinancing tailwind.
Cargo
Freight
EMERGING
~$300K Avg
Theft per Load
Rising losses per tractor-
trailer are driving identity validation amongst shipping companies.
Banking
Channel Partner
SIGNED
Alloy Platform
New banking software
provider partnership creates scalable distribution opportunity for credit unions and smaller regional banks.
Background
Checks
GROWING
Traction in
New Pipeline
Growing pipeline of
background check firms seeking accurate realtime identity validation.
Opportunities include:
Employment Screening
Property Management
Supply Chain Vendors
Lease-to-Own
& BNPL
SCALING
LTO up
Significantly
Working with 2 of the
top 4 lease-to-own companies.
BNPL is another opportunity as underwriters try and combat fraud that is often difficult to detect in a timely manner.
Very sticky customer base with
a positive NRR of 111%* in 2025
~90+%
Gross margins consistently
Solid balance sheet at 3/31/26
$10.1 million and no debt**
Renewed focus on sales and marketing to drive growth
Achieved positive Net Income and Adjusted EBITDA in 2025 that positions us to drive significant operating leverage going forward
* Excluding bars and restaurants
** No interest-bearing debt; current liabilities consist of accounts payable, accrued expenses, and deferred revenue
Revenue
$22,666,000
$22,436,000
90.4%
Balance Sheet
(as of December 31, 2025)
$9,650,000
$20.7 million
$0
$2,566,000
$1,273,000
Net Income &
Adjusted EBITDA
$6.6M in Q4 2025 -the highest quarterly revenue in company history.
Retail now less of a focus and represented 31%* of revenue in 2025. Banking & Lending was ~49%* of revenue and grew ~82%* Y/Y. Other new verticals include automotive, title insurance, background checks and cargo transportation.
$1.6M net income in Q4 2025 Adj. EBITDA of $1.9M in Q4 2025
$1.3M net income in 2025 Adj. EBITDA of $2.6M in 2025
25+ years of DMV partnerships and 250+ proprietary barcode formats
- no competitor can replicate IDN's barcode intelligence platform.
* Management estimates
AWS migration complete, saving $380K+ annually. OpEx flat while revenue scales.
IDC MarketScape Leader in Financial Services 2025.
Clean cap table with
approximately
of common shares
outstanding institutionally held as of 12/31/25
Northland Securities
DA Davidson
Craig-Hallum
We use Adjusted EBITDA as a non-GAAP financial performance measurement. Adjusted EBITDA is calculated by adjusting net loss for certain reductions such as interest and other income (expense) and certain addbacks such as non-restructuring severance expenses, provisions for income taxes, depreciation, amortization and stock-based compensation expense. Adjusted EBITDA is provided to investors to supplement the results of operations reported in accordance with GAAP. Management believes that Adjusted EBITDA provides an additional tool for investors to use in comparing our financial results with other companies that also use Adjusted EBITDA in their communications to investors. By excluding non-cash charges such as impairments of long-lived assets and goodwill, amortization, depreciation and stock-based compensation, as well as non-operating charges for interest and provisions for income taxes, investors can evaluate our operations and can compare the results on a more consistent basis to the results of other companies. In addition, Adjusted EBITDA is one of the primary measures management uses to monitor and evaluate financial and operating results.
The reconciliation of GAAP net loss to Non-GAAP Adjusted EBITDA is as follows in thousands:
We consider Adjusted EBITDA to be an important indicator of our operational strength and performance of our business and a useful measure of our historical operating trends. However, there are significant limitations to the use of Adjusted EBITDA since it excludes non-restructuring severance expenses, provisions for income taxes, interest and other (expense) income, impairments of long-lived assets and goodwill, stock-based compensation expense, all of which impact our profitability, as well as depreciation and amortization related to the use of long-term assets which benefit multiple periods. We believe that these limitations are compensated by providing Adjusted EBITDA only with GAAP net loss and clearly identifying the difference between the two measures.
Consequently, Adjusted EBITDA should not be considered in isolation or as a substitute for net loss presented in accordance with GAAP. Adjusted EBITDA as defined by us may not be comparable with similarly named measures provided by other companies.
Q1 2026
Q1 2025
Net income (loss)
$636
$(318)
Reconciling items:
Restructuring severance
expenses
Provision for income taxes
Other income, net
(94)
(30)
Depreciation and
amortization
193
154
Stock-based compensation
200
177
Adjusted EBITDA
$935
$(17)
in thousands, unaudited
2025
2024
Net income (loss)
$1,273
$(918)
Reconciling items:
Restructuring severance expenses
-
376
Provision for income taxes
58
33
Other income, net
(245)
(283)
Depreciation and amortization
703
436
Stock-based compensation
777
876
Adjusted EBITDA
$2,566
$520
in thousands, unaudited
Bryan Lewis
516.453.6647
Adam Sragovicz
516.992.1985
Disclaimer
IntelliCheck Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 20:50 UTC.