Intellicheck Inc (NASDAQ: IDN) is an identity verification company that authenticates government-issued photo identification documents to detect fraud and streamline enrollment workflows. Revenue comes almost entirely from software licensed on a subscription basis, the SaaS model that generated $22,436 thousand in FY2025, representing 99% of total FY2025 revenue of $22,666 thousand. That total was up 13% from $19,997 thousand in FY2024, driven by higher SaaS volumes. The company's Intellicheck Platform reads and authenticates ID data across all U.S. jurisdictions and targets retailers, financial institutions, auto dealerships, casinos, hospitals, and credit unions, among others. Gross profit was $20,500 thousand in FY2025, also up 13% year over year. Intellicheck carries a full valuation allowance against deferred tax assets, has never paid a cash dividend, and filed a shelf registration statement in August 2025 that would permit future equity issuance. Corporate headquarters is in Melville, New York.

Revenue model

Subscription SaaS licensing of the Intellicheck Platform. SaaS revenue was $22,436 thousand in FY2025, up 13% from $19,810 thousand in FY2024, and constituted nearly all of total revenue. A small residual non-SaaS revenue stream of $230 thousand existed in FY2025.

Products and services

The Intellicheck Platform: proprietary software that reads and authenticates digitally stored data on government-issued photo IDs, covering all U.S. jurisdictions. Applications include fraud prevention, instant-credit issuance workflow automation, customer enrollment, and productivity enhancement by auto-populating form fields from scanned IDs. The product database is continuously updated for new ID formats and government regulations.

Customers and end markets

Target end markets include mass merchandisers and retailers, banks and financial institutions, credit unions, auto dealerships and rental car agencies, casinos, and hospital patient admissions. The filing does not disclose individual customer names or customer concentration percentages.

Value-chain role

Software provider sitting between government-issued ID issuers and commercial businesses that need to verify identity at the point of transaction or enrollment. Intellicheck does not issue IDs or extend credit; it authenticates documents for third-party operators.

Geographic exposure

Operations are U.S.-focused. The company authenticates IDs across all U.S. jurisdictions. Corporate headquarters is in Melville, New York, with all personnel working remotely as of the 10-K filed 2026-03-19. The filing references risk from foreign intellectual property laws but does not disclose material non-U.S. revenue.

Source: SEC 10-K, filed 2026-03-19

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