Intellicheck Reports Second Quarter 2026 Results

Revenue Grows 16% to $5.9 Million

Net Income Rises to $0.7 Million

Adjusted EBITDA Increases to $1.1 Million

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MELVILLE, NEW YORK - August 13, 2026 - Intellicheck, Inc. (Nasdaq: IDN) ("Intellicheck" or the "Company"), an industry-leading identity company delivering proprietary on-demand digital and physical identification validation solutions, today reported financial results for the second quarter ended June 30, 2026. The Company today also provided an update on a customer.

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Business Highlights

• Revenue was $5.9 million in the second quarter, up 16% year-over-year and 7% on a quarterly sequential basis. SaaS revenue comprised substantially all of total revenue.
• Adjusted EBITDA, a non-GAAP metric, was $1.1 million in the second quarter, increasing $1.0 million year-over-year, and marking the Company's fifth consecutive positive quarter.
• Banking and lending represented approximately 48% of Q2 revenue and continues to be the Company's largest growing vertical in terms of total revenue as it continues to gain traction in Desktop, the Alloy channel, and among smaller institutions.
• Retail represented approximately 29% of Q2 revenue.
• Momentum continued across emerging and adjacent verticals including cargo and freight, foreign auto manufacturers and their supplier networks, stadium and venue concessions, age-related and background-check verticals, and automotive dealer scanning volumes.

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"Our second quarter results reflect the benefits from continued progress on our diversification initiative as we now generate revenue from about 500 customers across 14 segments, both of which are diversified significantly from two years ago when we began these efforts," said Bryan Lewis, President and Chief Executive Officer of Intellicheck. "The momentum in our business was clear as revenue rose 16% year-over-year to a Q2 record of $5.9 million. In addition, our focus on operating discipline has helped drive four consecutive quarters of profitability, and five consecutive quarters of positive adjusted EBITDA which improved $1.0 million compared to the same period last year to $1.1 million."

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Customer Update

At the end of the second quarter of 2026, the Company was informed by its customer, which represented approximately 29% of first-half 2026 revenue, the "Customer", that the Customer is shifting from a sole-source to a multi-source vendor architecture and is testing an alternative solution on select use cases that is expected to negatively affect our transaction levels with the Customer. The main phase of the transition was scheduled to commence in late July and as such had no material impact on Intellicheck's results for the three- and six-month periods ended June 30, 2026. As of August 12, 2026, the Company has not yet seen the level of volume reductions this Customer's plans call for.

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Lewis commented, "We are actively engaged with this Customer as they test their alternative solution. To date, the total traffic shift has not been to the extent their plan called for. Additionally, the Customer has indicated that their shift from a single source to a multi-source vendor architecture is not being driven by our results, as they have recently signed another purchase order and have indicated an intention to transition to our newest API. We believe this reflects recognition of the broader capabilities we can provide and the opportunity to further expand our support of their needs over the longer term."

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"Our business is significantly stronger and more diversified today than it was even several years ago, and as such is much better positioned to address this challenge than at any other time in our history. Excluding this Customer, revenue from our remaining base grew approximately 19% in the first half of 2026, and we expect this growth will continue as we continue to execute on our customer and vertical diversification initiative. We are focused on accelerating our pipeline of new customers and expanding the scope of what we do with existing customers which we expect will help drive positive adjusted EBITDA generation for the second half of the year as well as position the Company to be profitable for the full year."

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Financial and Balance Sheet Highlights

• Gross margin was 91% in the second quarter as compared to 90% in the year-ago period.
• Operating expenses were $4.9 million in both the 2026 and 2025 second quarters.
• Income from operations was $0.6 million and net income was $0.7 million, up from a loss of $(0.3) million and a net loss of $(0.3) million in the year-ago period.
• Adjusted EBITDA was $1.1 million in the second quarter, marking the Company's fifth consecutive positive quarter. Adjusted EBITDA was $0.1 million in the second quarter of 2025
• The Company ended the quarter with $11.8 million in cash and no debt. Cash from operations for the first half was $2.2 million.

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"We remain focused on cost discipline, while continuing to fund the engineering behind our platform accuracy and availability, and the go-to-market investment required to grow our revenue from current and new customers," said Adam Sragovicz, Chief Financial Officer of Intellicheck. "Importantly, we have a strong balance sheet, with $11.8 million in cash and no debt, which provides us the flexibility to execute on our growth initiatives."

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Earnings Conference Call Details

• Date / Time: Thursday, August 13 at 4:30 PM ET / 1:30 PM PT
• U.S. Dial-in: 877-407-8037
• International Dial-in: 201-689-8037

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A replay of the conference call will be available shortly after completion of the live event. To listen to the replay, please dial 877-660-6853 and use conference identification number 13761557. For callers outside the U.S., please dial 201-612-7415 and use conference identification number 13761557. The replay will be available beginning approximately three hours after the completion of the live event and will remain available until August 20, 2026.

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