- Intellicheck Inc (NASDAQ:IDN) reported first-quarter revenue growth of 19% year-over-year to $3.40 million, above the consensus of $3.39 million.
- Quarter-over-Quarter SaaS revenue grew 21% Y/Y to $3.35 million.
- EPS was $(0.08), above the consensus of $(0.10).
- The gross margin was 90.7% compared to 92.3% in 1Q21. Loss from operations reduced to $1.47 million versus $4.62 million a year ago.
- Adjusted EBITDA loss was $806 thousand, versus $51 thousand in 1Q21.
- Net cash used in operating activities for the quarter totaled $2.4 million, compared to $471 thousand in 1Q21.
- As of March 31, 2022, Intellicheck held cash in hand of $11.1 million.
- “The growth that we experienced during the quarter shows that our clients continue to find new uses for our products and demonstrates that we continue to expand in our core markets and are successfully entering new markets. At the same time, we have continued to advance our strategic priorities to achieve our longer-term growth objectives. The investments we have made in technology and operations are yielding results in serving our market growth and expansion and our clients well,” commented Intellicheck CEO Bryan Lewis.
- Price Action: IDN shares are trading higher by 5.56% at $1.71 during the post-market session on Monday.
