Intellicheck, Inc. announced record financial results for the fourth quarter and full year ended December 31, 2024. Total revenue for Q4 2024 grew 15% year-over-year to a record $5,936,000, with SaaS revenue increasing 17% to $5,913,000. For the full year 2024, total revenue increased 6% to $19,997,000, and SaaS revenue grew 7% to $19,810,000.
The company's net income for Q4 2024 was $488,000, or $0.03 per diluted share, compared to $984,000, or $0.05 per diluted share, in Q4 2023. Full-year 2024 net loss improved to ($918,000), or ($0.05) per diluted share, from ($1,980,000), or ($0.10) per diluted share, in 2023. Adjusted EBITDA for the full year 2024 improved to $520,000 from $377,000 in 2023.
CEO Bryan Lewis attributed the progress to the strategic decision to expand into new market verticals, which helped offset ongoing retail contraction and consumer economic concerns. Gross profit as a percentage of revenues was 91.1% for Q4 2024 and 90.8% for the full year. As of December 31, 2024, Intellicheck held $4.7 million in cash.
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