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Investor Presentation NASDAQ:IDN Q4 2024
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© 2025 Intellicheck. All rights reserved. This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the forward-looking statements in this presentation reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this presentation. Forward-Looking Statements 2
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© 2025 Intellicheck. All rights reserved. The only identity validation and proofing service that uses a unique and proprietary analysis of DMV-issued IDs to create trusted, real-time customer identity verification experiences. 3
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© 2025 Intellicheck. All rights reserved. Our SaaS solutions are used across various industries, both in -person and digitally, primarily as a white-label service. Intellicheck Overview Hardware free solution for rapid and cost-effective deployment, leveraging existing hardware in -person 28 State-level law enforcement agencies use Intellicheck for ID validation Authenticated close to 100 million documents in North America annually Banking & Financial Services • Retail • Automotive • Social Media/E-Mail Healthcare • Stadium Concessions • Law Enforcement Alcohol, Tobacco and Cannabis Sales • Gaming • Title Insurance Universities • Hospitality • Background Checks • Transportation Services 4
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© 2025 Intellicheck. All rights reserved. Positioned for Success * Excluding bars and restaurants with age restricted use cases that have higher churn rates ** Net Operating Loss Carryforwards $10 million Q1 2025 had 100% renewal rates and when combined with upsells have an ACV exceeding * Gross margins consistently 90%+ ~2x revenue Attractive current valuation of Expectation of positive Adjusted EBITDA anticipated for 2025 positions us to drive significant operating leverage going forward $28.5M of historical NOLs should provide substantial insulation from future tax liabilities** 5
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© 2025 Intellicheck. All rights reserved. Fraud and identity theft impacts multiple verticals, creating a significant addressable market Magnitude of the Problem Bottom Line: Fraud Isn’t Going Away! $23B In U.S. Fraud in 2023, impacting 15 million people1 1. Javelin 2. Identity Theft Resource Center 3. eLEND study 1 Billion+ Victims of data breaches worldwide2 $13B In account takeover fraud - a 15% increase1 of auto dealerships had an identity fraud related loss within the last year3 79% of identity misuse attributed to new account creation in 20232 35% 6
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© 2025 Intellicheck. All rights reserved. A stolen portfolio provides everything needed to take over a victims account and start using it Stealing an Identity is Cheap and Easy Consumer credit portfolios can be accessed for less than $50 on the dark web4 1. U.S. Customs and Border Patrol 2. Security Intelligence 3. InfoSecurity 4. Experian 40 In a single month…August 2024 Shipments of fake IDs intercepted by Border Patrol1 2.9B Records accessed in a massive data breach2 4.3M Customers were breached – including HSAs, FSAs, HRAs and 401K plans3 7
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© 2025 Intellicheck. All rights reserved. Majority of Fraud is Prevented Through Accurate ID Validation Which means…parsing the data and comparing it to the front of the ID with traditional document templating won’t cut it. Criminals copy AAMVA barcode standards that are publicly available online • No state, province or territory DMV uses the same AAMVA standard on its own—each DMV adds additional unique security features • No two states, provinces or territories use the same format, there are over 250 unique ID encryptions in circulation between the US, Canada and Mexico 8
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© 2025 Intellicheck. All rights reserved. Adam Sragovicz Chief Financial Officer Management Team Bryan Lewis Chief Executive Officer, President Chris Meyer Senior Vice President of Sales Jonathan Robins Chief Technology Officer Scott McCulley VP Technology Operations / Information Security Sandra Bower VP of Customer Experience and Account Management 9
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© 2025 Intellicheck. All rights reserved. Confidently prove identity in real-time with the only platform that leverages proprietary access to authoritative data in ID barcodes Why use Intellicheck to Stop Fraudsters and Safeguard Customers “Prior to us using it in the field, we scanned over 1,000 known counterfeits, each one was detected.” New York State DMV Director of Investigations “A true gamechanger in stopping fraud, top 5 all time.” SVP of Fraud, top 5 Financial Services Company with over $1.7 trillion in assets Validate identity and stop fraud losses while meeting AML/KYC requirements Leverage a unique approach that is highly accurate, instant, and fully automated 10
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© 2025 Intellicheck. All rights reserved. We Validate Close to 100 Million People in North America Each Year. Auto, Real Estate, Financial Services, Education New Account Generation • Physical and digital accounts • Instant credit, BNPL, Lease-to- Own, bank accounts, loans, automotive test drives and purchases, title insurance and more • Verification occurs both in-person or through website or mobile app Retail Card Not Present • “I forgot my store- branded credit card, can you look me up?” Return No-Receipt • Stolen goods returned for store credit Banking Branches, Call Centers • Quickly validate customers for risky transactions • Account updates to stop account takeover, address changes, lost card transactions and more Corporate Employee Onboarding • Verify applicants and remote employees Account Validation and Account Reset • Validate employees and partners with system access 11
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© 2025 Intellicheck. All rights reserved. Validate IDs in less Than one Second Analyze ResultsScan Intellicheck Proprietary Barcode Verification Industry-Leading Counterfeit Detection 100% Decisioning for Optimal Conversations Additional Global Document Support No New Hardware Required No Manual Review or Template Matching Omni Channel – Validate Anytime and Anywhere 12
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© 2025 Intellicheck. All rights reserved. Comprehensive Identity Assessment Analyze ResultsScan NIST Certified Facial Biometrics PAD Level Liveness Detection Fraud and Risk Scoring Proxy Detection & IP Address Reputation Scoring Validation and verification Bot, Tor, Emulator, and GPS Spoofing Detections Postal Address Validation Phone Carrier Lookup Device ID Fingerprinting 13
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© 2025 Intellicheck. All rights reserved. Transparency and Trust Analyze ResultsScan Verify in less than a second the ID is REAL Confirm the ID belongs to the person presenting it Alert to additional risk factors 14
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© 2025 Intellicheck. All rights reserved. Fits right into your workflow and validates anytime and anywhere Intellicheck Services-Multiple Access Points. Direct Take full control with our REST API and Mobile SDK Capture Two simple web hooks provide a white label digital experience Integrates into your systems for a seamless customer experience Mobile Validate with a tap on our mobile app No integration Portal A no-integration tool to validate in person or online Desktop Hardware not required Identity Services 15
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© 2025 Intellicheck. All rights reserved. Only solution that can prove identity and authenticate IDs using each state’s unique DMV-issued ID security features and encodings What Makes Intellicheck Different 28 State-level law enforcement agencies use Intellicheck to validate IDs. Why is that important? • Only Law enforcement can check IDs with every DMV in North America • They choose Intellicheck because we are accurate and lightning fast We believe no other ID validation provider can say this. 16
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© 2025 Intellicheck. All rights reserved. Intellicheck VERIFIED Other Driver License Scanners AAMVA Parsed Data (that is publicly available) Intellicheck’s Exclusive Validation Visibility DMV Issued Authoritative Data & Hidden Security Keys First Name Joe Joe #HED3 Middle Name ISA ISA Last Name Fraudster Fraudster Address 1234 Easy Street 1234 Easy Street CHECK123 City Orlando Orlando JURISDICTIONKEY State FL FL Zip 32789 32789 300054* Document ID Number 0002345666 0002345666 ENCRYPTEDKEY21# Issue Date 06152023 06152023 Expiration Date 08252026 08252026 Height 073 IN 073 IN HENCODED Weight 168 168 Eye Color BRO BRO Hair Color BL BL Race / ethnicity W W Inventory Control Number 76544333 76544333 JURISDICTION52#HH Document Discriminator 10000234 10000234 Endorsement Codes None None 17
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© 2025 Intellicheck. All rights reserved. © 2024 Intellicheck. All rights reserved. Intuitive and easy to use technology Simplifies implementations with no new and costly hardware requirement Cloud SaaS integrates with existing in - person and online workflows via existing hardware, mobile app, web portal or webhooks Integrates with existing retail / branch hardware Point-of-sale scanner Branch check scanner Mobile app Frictionless and customer friendly Fast, accurate validation eliminates “good customer frustration” and reduces abandonment Easy one step process–no need for front, back and selfie 18
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© 2025 Intellicheck. All rights reserved. Financial Services Leaders Look to Intellicheck Top 5 Bank With over 2 million accounts, $1.7 trillion in assets One of the top 3 credit card issuers in the country Top 10 Bank With ~ $400 billion in assets One of the top 5 credit card issuers Top 15 Bank With over $200 billion in assets 19
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© 2025 Intellicheck. All rights reserved. Doma Title Insurance is the 8th largest title insurance company in the country and is now live. Qualia is an industry leading real estate transaction platform that is now live and growing. Accio Data integrates Intellicheck identity validation technology into its state-of-the-art background screening enterprise platform. We continued to increase our penetration for authentication with significant organizations and new use cases 2024 Development Callouts Lease-to-Own company with over 1,700 locations successfully completed their proof of concept and is live. A private university both online and on campus is using Intellicheck to stop ghost-student and student-loan fraud. America’s leading title company that is a premier provider of title, settlement and risk solutions for real estate transactions. 20 One of the most widely recognized brands in banking that is a top ten bank and one of the largest issuers of Visa and MasterCard credit cards
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© 2025 Intellicheck. All rights reserved. Balance Sheet (as of December 31, 2024) Cash & ST Investments: $4.7 million Stockholders’ Equity: $17.7 million Debt: $0 Q4 2024 Financial Highlights Net Income (loss) & Adjusted EBITDA Net Income: $488,000 Adjusted EBITDA: $860,000 Revenue Total Revenue: $5,936,000 SaaS Revenue: $5,913,000 Gross Margin: 91% 21
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© 2025 Intellicheck. All rights reserved. Analyst Coverage / Institutional Holdings Mike Grondahl Northland Securities Rudy Kessinger DA Davidson 50% Clean cap table with approximately of common shares outstanding institutionally held as of 12/31/24 Scott Buck H.C. Wainwright Jeff Van Rhee Craig-Hallum 22
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© 2025 Intellicheck. All rights reserved. Adjusted EBITDA Reconciliation Adjusted EBITDA We use Adjusted EBITDA as a non-GAAP financial performance measurement. Adjusted EBITDA is calculated by adjusting net loss for certain reductions such as interest and other income (expense) and certain addbacks such as non-restructuring severance expenses, provisions for income taxes, depreciation, amortization and stock-based compensation expense. Adjusted EBITDA is provided to investors to supplement the results of operations reported in accordance with GAAP. Management believes that Adjusted EBITDA provides an additional tool for investors to use in comparing our financial results with other companies that also use Adjusted EBITDA in their communications to investors. By excluding non-cash charges such as impairments of long-lived assets and goodwill, amortization, depreciation and stock-based compensation, as well as non-operating charges for interest and provisions for income taxes, investors can evaluate our operations and can compare the results on a more consistent basis to the results of other companies. In addition, Adjusted EBITDA is one of the primary measures management uses to monitor and evaluate financial and operating results.We consider Adjusted EBITDA to be an important indicator of our operational strength and performance of our business and a useful measure of our historical operating trends. However, there are significant limitations to the use of Adjusted EBITDA since it excludes non-restructuring severance expenses, provisions for income taxes, interest and other (expense) income, impairments of long-lived assets and goodwill, stock-based compensation expense, all of which impact our profitability, as well as depreciation and amortization related to the use of long-term assets which benefit multiple periods. We believe that these limitations are compensated by providing Adjusted EBITDA only with GAAP net loss and clearly identifying the difference between the two measures. Consequently, Adjusted EBITDA should not be considered in isolation or as a substitute for net loss presented in accordance with GAAP. Adjusted EBITDA as defined by us may not be comparable with similarly named measures provided by other companies. The reconciliation of GAAP net loss to Non-GAAP Adjusted EBITDA is as follows in thousands: 23
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© 2025 Intellicheck. All rights reserved. Fraud Starts with Identity Theft. Identity Theft Ends with Intellicheck. Bryan Lewis CEO 516.453.6647 blewis@intellicheck.com Adam Sragovicz CFO 516.992.1985 asragovicz@intellicheck.com TM