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Vintellicheck TM Intellicheck Announces Record Third Quarter Fiscal 2021 Financial Results Revenue Climbed 79 % to $ 4.8 Million SaaS Revenue Grew 32 % Reaching $ 3.2 Million MELVILLE , NY - November 10 , 2021 -- Intellicheck , Inc. ( Nasdaq : IDN ) , an industry leader in identity verification and authentication solutions , today announced its financial results for the third quarter ended September 30 , 2021. Revenue rose 79 % to a record $ 4,831,000 versus $ 2,699,000 in the prior year comparable period . SaaS revenue for the third quarter ended September 30 , 2021 increased 32 % to $ 3,245,000 versus $ 2,451,000 in the prior year comparable period . CEO Bryan Lewis pointed to a number of key developments including the expansion of Company capabilities beyond North America , the addition of a new product platform , and the addition of new channel partnerships . " Much of what we have been investing in and working on this year is focused on transforming the company to be a Digital Identity company , rather than purely an ID Validation company . We have expanded our client base far beyond just credit cards into banking , call centers , gambling , cannabis , stadiums as well as the digital world , which continues to become an increasing portion of our business . We believe this transformation will allow us to move into many more markets and become a powerhouse within Identity Validation and Digital Identity . " Gross profit as a percentage of revenues was 68.7 % for the three months ended September 30 , 2021 , versus 89.1 % in the prior year comparable period . SaaS revenues represented 67.2 % of total sales during the third quarter of 2021 , compared to 90.8 % of total sales in the prior year comparable period . The decline in gross margin reflects a sales mix that included approximately $ 1.5 million of hardware sales that carry lower gross margins than SaaS revenues . Excluding hardware sales and related costs in both periods , gross profit as a percentage of sales was 93.0 % for the three months ended September 30 , 2021 , versus 92.6 % in the prior year comparable period . Net loss for the three months ended September 30 , 2021 was ( $ 952,000 ) or ( $ 0.05 ) per diluted share versus net income of $ 32,000 or $ 0.00 per diluted share for the comparable prior year period . Non - cash expenses during the quarter included stock - based compensation costs that totaled $ 639,000 .