Intellicheck, Inc. (IDN) Bundle
A Brief History of Intellicheck, Inc. (IDN)
Company Overview
Intellicheck, Inc. (IDN) is a leading technology company specializing in providing secure identity verification solutions. The company focuses primarily on reducing fraud in various sectors, including retail and financial services. As of October 2023, Intellicheck operates with its headquarters in Melville, New York.
Founding and Early Years
Intellicheck was founded in 1996 under the name IDenticard Systems, Inc. In 2000, the company rebranded itself to Intellicheck. The original vision centered on using technology to enhance identity verification processes. Over the years, Intellicheck developed proprietary software solutions aimed at detecting counterfeit documents and verifying identity in real-time.
Technological Advancements
Intellicheck has made significant advancements in identity verification technology, leading to various product launches. Notable milestones include:
- 2011: Launch of the ID Checker product, which offered integrated barcode scanning.
- 2013: Introduction of the mobile verification application designed for tablets and smartphones.
- 2016: Acquired the technology of 3D facial recognition to enhance security measures.
- 2020: Launched its flagship product, 2D & 3D ID verification systems, utilized in retail and financial sectors.
Financial Performance
Intellicheck has witnessed fluctuating financial performance over the years. Below is a summary table of its key financial metrics for fiscal years 2021 to 2023:
| Year | Revenue (in millions) | Net Income (in millions) | Operating Expenses (in millions) | Market Capitalization (as of October 2023 in millions) |
|---|---|---|---|---|
| 2021 | $4.5 | -$2.1 | $6.0 | $37.0 |
| 2022 | $6.2 | -$1.8 | $5.5 | $45.0 |
| 2023 | $8.0 | $0.5 | $6.0 | $55.0 |
Market Presence
As of October 2023, Intellicheck’s products are used by over 1,200 retailers and various financial institutions across North America. The company's customer base includes:
- Top 10 U.S. banks
- Major retail chains such as Walmart and Target
- State and local government agencies
- Insurance companies
Strategic Partnerships and Collaborations
Intellicheck has engaged in numerous partnerships to expand its market reach and enhance its technology offerings. Notable collaborations include:
- 2021: Partnership with NCR Corporation to integrate Intellicheck’s identity verification software into NCR’s retail solutions.
- 2022: Collaboration with a leading insurance firm to streamline customer onboarding processes.
- 2023: Engaged with various fintech companies to enhance fraud prevention solutions.
Recent Developments
Intellicheck continues to innovate and expand its product offerings. As of October 2023, recent developments include:
- Expansion of API capabilities for seamless integration with third-party platforms.
- Launch of an AI-driven analytics platform aimed at improving fraud detection.
- Increased focus on mobile identity solutions to cater to the growing demand for remote services.
Future Outlook
Intellicheck's strategic initiatives position the company for potential growth in the identity verification market. The global identity verification market is projected to grow at a CAGR of 15.5% from 2022 to 2030, reaching $31.5 billion by the end of the forecast period.
A Who Owns Intellicheck, Inc. (IDN)
Current Ownership Structure
The ownership of Intellicheck, Inc. is comprised primarily of institutional investors, retail investors, and corporate insiders. The latest data reflects a diversified ownership landscape with varying stakes held by different entities.
| Owner Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 45.3% | 3,700,000 |
| Retail Investors | 40.1% | 3,250,000 |
| Corporate Insiders | 14.6% | 1,200,000 |
Major Institutional Investors
Significant institutional stakeholders contribute to the overall governance and financial stability of Intellicheck, Inc.
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 1,000,000 | 12.3% |
| The Vanguard Group, Inc. | 800,000 | 9.8% |
| State Street Corporation | 600,000 | 7.4% |
Executive Management and Board Ownership
Corporate insiders have a measurable stake in Intellicheck, reflecting their commitment to the company's success.
| Name | Title | Shares Owned |
|---|---|---|
| Jeffrey A. Hennion | Chief Executive Officer | 350,000 |
| Michael A. Hurst | Chief Financial Officer | 250,000 |
| William J. Baird | Board Member | 200,000 |
Recent Financial Performance
In the most recent fiscal year, Intellicheck, Inc. reported notable financial metrics illustrating its growth trajectory.
| Metric | Amount (USD) |
|---|---|
| Revenue | $7.2 million |
| Net Income | -$1.5 million |
| Market Capitalization | $61.5 million |
Stock Performance and Market Trends
The stock performance of Intellicheck, Inc. has shown variability influenced by broader market trends and internal company developments.
| Date | Closing Stock Price (USD) | Volume |
|---|---|---|
| October 1, 2023 | $5.55 | 100,000 |
| September 30, 2023 | $5.30 | 75,000 |
| September 29, 2023 | $5.60 | 50,000 |
Future Ownership Considerations
The dynamics of ownership in Intellicheck, Inc. may shift based on upcoming strategic initiatives and market conditions.
- Potential mergers and acquisitions
- Changes in institutional investment patterns
- Stock buybacks or new equity issuances
Intellicheck, Inc. (IDN) Mission Statement
Core Purpose
Intellicheck, Inc. focuses on providing innovative identification solutions that enhance security and streamline processes for businesses. The company's mission is to deliver cutting-edge technology to verify identities and prevent fraud.
Vision
Intellicheck envisions a world where advanced identity verification technology is ubiquitous, enabling seamless and secure transactions across various industries, including retail, financial services, and healthcare.
Values
- Integrity: Upholding ethical standards in all business dealings.
- Innovation: Committing to continuous improvement and technological advancements.
- Customer Focus: Prioritizing customer needs and feedback in product development.
- Collaboration: Fostering teamwork and partnerships for mutual growth.
Recent Financial Performance
As of the third quarter of 2023, Intellicheck reported total revenue of $6.12 million, reflecting a year-over-year increase of 34%. The company's market capitalization stood at approximately $75 million.
Market Reach
Intellicheck serves a diverse clientele, which includes financial institutions, government agencies, and retail businesses, enhancing their security protocols through biometric and identification verification technologies.
Product Offerings
Intellicheck’s primary products include:
- Real-Time ID Verification
- Mobile ID Scanning
- Fraud Prevention Solutions
- Data Analysis Tools
Recent Developments
In 2023, Intellicheck launched a new version of its ID verification platform, which integrates machine learning algorithms for enhanced accuracy, reducing false positives by 20%.
Employee Engagement
The company employs approximately 75 individuals, with an average employee tenure of 5 years, indicating a strong level of engagement and satisfaction within the workforce.
Table of Key Financial Metrics
| Metric | Q3 2023 | Q3 2022 | Year-over-Year Change |
|---|---|---|---|
| Revenue | $6.12 million | $4.56 million | +34% |
| Net Income | -($1.32 million) | -$2.53 million | +48% |
| Market Cap | $75 million | $53 million | +42% |
| Employee Count | 75 | 60 | +25% |
Strategic Goals
Intellicheck aims to:
- Expand its market presence by entering new industry segments.
- Increase customer acquisition by 20% annually.
- Enhance product features based on customer feedback.
- Invest in research and development to drive innovation.
How Intellicheck, Inc. (IDN) Works
Overview of Intellicheck, Inc.
Overview of Intellicheck, Inc.
Intellicheck, Inc. is a technology company that specializes in identity verification and fraud prevention solutions. The company provides advanced systems designed to aid businesses in verifying the authenticity of identification, thereby minimizing the risk of fraud.
Services Offered
- ID Verification: Utilizes cutting-edge technology to verify government-issued IDs.
- Fraud Prevention: Offers solutions to detect and prevent fraudulent transactions.
- Mobile Solutions: Provides mobile applications enabling real-time ID verification.
Target Industries
- Retail
- Financial Services
- Healthcare
- Hospitality
- Government Services
Financial Performance
As of the latest financial reporting period, Intellicheck, Inc. reported the following key figures:
| Financial Metric | Q2 2023 | Q2 2022 |
|---|---|---|
| Revenue | $2.5 million | $2.1 million |
| Net Loss | ($1.0 million) | ($1.5 million) |
| Gross Profit | $1.5 million | $1.2 million |
| Operating Expenses | $2.5 million | $3.0 million |
| Cash and Cash Equivalents | $4.0 million | $2.5 million |
Market Position and Competitors
Intellicheck, Inc. operates in a competitive landscape, positioning itself against companies such as:
- LexisNexis Risk Solutions
- Experian
- Trulioo
- Socure
Technological Innovations
Intellicheck’s service offerings are powered by advanced technologies, including:
- Machine Learning: Enhances accuracy in identity verification.
- Artificial Intelligence: Powers fraud detection systems.
- Data Analytics: Provides comprehensive insights into transaction patterns.
Customer Base
Intellicheck serves a diverse clientele across multiple sectors. Key customer details include:
| Sector | Client Examples |
|---|---|
| Retail | Sephora, Urban Outfitters |
| Financial Services | American Express, Bank of America |
| Healthcare | CVS Health, Walgreens |
| Government | Various State Departments |
Recent Developments
Recent announcements highlight Intellicheck's ongoing commitment to innovation and market expansion, including:
- Launch of a new API for seamless integration into existing systems.
- Partnerships with key players in the fintech sector.
- Expanding services into international markets.
Future Outlook
Intellicheck aims to grow its market presence by focusing on:
- Enhancing product offerings through continuous technological advancements.
- Expanding into new geographic markets.
- Strengthening partnerships to broaden its reach.
Conclusion on Financial Position
As per the latest report, Intellicheck, Inc.’s financial health and market strategies position the company for potential growth, with the following factors at play:
| Key Indicator | Current Value |
|---|---|
| Total Assets | $6.5 million |
| Total Liabilities | $2.5 million |
| Market Capitalization | $21.0 million |
| Stock Price (as of October 2023) | $1.75 |
How Intellicheck, Inc. (IDN) Makes Money
Revenue Streams
Revenue Streams
Intellicheck, Inc. generates revenue primarily through its comprehensive identity verification solutions. Their offerings include real-time ID verification, mobile fraud detection, and access control technologies. The company focuses on sectors such as retail, banking, and government, providing tailored solutions to meet specific industry needs.
Financial Performance
As of Q2 2023, Intellicheck reported a revenue of $3.3 million, reflecting a 14% increase compared to $2.9 million in the same quarter of 2022. The annual revenue for 2022 was approximately $11.3 million, a growth from $9.8 million in 2021.
Key Financial Metrics
| Metric | Q2 2023 | Q2 2022 | 2022 Annual Revenue | 2021 Annual Revenue |
|---|---|---|---|---|
| Revenue | $3.3 million | $2.9 million | $11.3 million | $9.8 million |
| Gross Profit | $2.4 million | $2.1 million | $8.4 million | $6.9 million |
| Net Income | ($1.1 million) | ($1.2 million) | ($4.5 million) | ($4.8 million) |
| Cash and Cash Equivalents | $5.0 million | $4.2 million | $8.3 million | $7.5 million |
Service Offerings
- Real-Time ID Verification: This service allows businesses to verify customer identities instantly, reducing fraud risk and enhancing customer trust.
- Mobile Fraud Detection: A suite of tools designed to identify fraudulent activities in mobile transactions.
- Access Control Technologies: Systems that help businesses manage and control access to facilities, ensuring only authorized personnel enter secure areas.
Client Base
Intellicheck serves a diverse range of clients, including major retailers, financial institutions, and government entities. Notable clients include:
- American Express
- Walmart
- Police Departments across various states
Market Position
Intellicheck is a key player within the identity verification market, which is projected to grow significantly. According to recent industry reports, the global identity verification market is expected to reach $12 billion by 2025, growing at a CAGR of 15.2% from 2020 to 2025.
Investment and Growth Opportunities
The company seeks to expand its market reach through strategic partnerships and technological advancements. Recent collaborations with fintech companies and enhancements in its software capabilities are anticipated to drive future revenue growth.
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