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IDN: The Standard for Instant Identity Verification
Blank Capital Research Team
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Executive Summary
Intellicheck, Inc. (IDN) provides high-speed identity authentication solutions used primarily by retailers, banks, and law enforcement to prevent identity theft and fraud.
Investment Thesis
Intellicheck owns a unique, high-barrier niche in the cybersecurity market. Their technology doesn't just scan an ID; it authenticates the encrypted data within the barcode to catch sophisticated fakes that visual scanners miss. This is mission-critical for high-stakes transactions like opening a bank account, purchasing a vehicle, or age-restricted sales. As identity theft reaches record levels, Intellicheck's 'instant-certainty' solution is becoming a mandatory layer of defense. With a transition to a high-margin SaaS model and a growing list of enterprise clients, IDN is a 'coiled spring' growth story.
Key Growth Drivers
Unrivaled Authentication Accuracy
Intellicheck's proprietary software is widely considered the gold standard for catching high-end counterfeit IDs, creating a powerful competitive moat.
Financial Services Expansion
Major banks are increasingly integrating IDN into their digital and branch-based 'Know Your Customer' (KYC) workflows to prevent fraudulent account openings.
High Incremental Margins
As a pure software solution, every new client or transaction adds revenue with virtually no additional cost, leading to rapid profitability as the platform scales.
Valuation & Financial Modeling
IDN trades at a low multiple of its recurring revenue compared to other cybersecurity firms. We believe the market is underestimating the necessity of their physical-to-digital identity bridge in an era of AI-generated deepfakes. The stock offers significant re-rating potential.
Risk Factors & Bear Case
The primary risk is technological; if a competitor develops a cheaper or more integrated visual-only solution that regulators deem 'good enough,' IDN's pricing power could be challenged.
Conclusion
Intellicheck is a specialized cybersecurity play with a massive addressable market. It is a 'best-of-breed' solution for the persistent problem of identity fraud. Rated 'Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
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Relative valuation derived from Technology sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 43.4GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
-5.4%
Sector: -1.4%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Intellicheck, Inc. (IDN) receives a "Hold" rating with a composite score of 46.0/100, ranked #695 out of 4446 stocks. Key factor scores: Quality 43/100, Value 42/100, Momentum 68/100. This is quantitative analysis only — not investment advice.
Intellicheck, Inc. (IDN) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Intellicheck, Inc. Do?
Intellicheck, Inc., a technology company, develops, integrates, and markets threat identification and identity authentication solutions for bank and retail fraud prevention, law enforcement threat identification, and mobile and handheld access control and security systems primarily in the United States. It provides identity systems products, including commercial identification products, such as Intellicheck Platform, an identity solution that checks whether an ID is valid, matches the ID to the person presenting it, and provides a risk score to determine the risk of doing business with that person; IDN-Portal that provides the ability to scan an ID using a mobile phone; IDN-Portal+ that uses a retail scanner to validate an ID, and get additional data for analytics and analysis; IDN-Direct that provides access to additional data and the ability to use the platform's Risk Score capability to help with decision-making; and Intellicheck mobile app, which provides the ability to login and scan an ID. The company also offers State Aware Software solution, which provides or restricts information that is electronically scanned from an ID based on the electronic reading laws according to the state in which the ID is scanned; data collection devices that enable its software applications to be used on a variety of commercially available credit card terminals, PDAs, tablets, laptops, desktops, mobile phones, and point-of-sale terminals; and instant credit application kiosk software applications. It serves government, military, and commercial markets. The company was formerly known as Intellicheck Mobilisa, Inc. and changed its name to Intellicheck, Inc. in May 2017. Intellicheck, Inc. was incorporated in 1994 and is headquartered in Melville, New York. Intellicheck, Inc. (IDN) is classified as a micro-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Bryan Lewis and employs approximately 50 people, headquartered in Port Townsend, New York. With a market capitalization of $152M, IDN is one of the notable companies in the Technology sector.
Intellicheck, Inc. (IDN) Stock Rating — Hold (April 2026)
As of April 2026, Intellicheck, Inc. receives a Hold rating with a composite score of 46.0/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.IDN ranks #695 out of 4,446 stocks in our coverage universe. Within the Technology sector, Intellicheck, Inc. ranks #61 of 584 stocks, placing it in the top quartile of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
IDN Stock Price and 52-Week Range
Intellicheck, Inc. (IDN) currently trades at $7.60. The stock lost $0.26 (3.3%) in the most recent trading session. The 52-week high for IDN is $7.48, which means the stock is currently trading 1.6% from its annual peak. The 52-week low is $2.17, putting the stock 250.2% above its annual trough. Recent trading volume was 245K shares, suggesting relatively thin trading activity.
Is IDN Overvalued or Undervalued? — Valuation Analysis
Intellicheck, Inc. (IDN) carries a value factor score of 42/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 108.57x, compared to the Technology sector average of 45.27x — a premium of 140%. The price-to-book ratio stands at 7.66x, versus the sector average of 3.16x. The price-to-sales ratio is 7.64x, compared to 1.06x for the average Technology stock. On an enterprise value basis, IDN trades at 22.15x EV/EBITDA, versus 12.79x for the sector.
Overall, IDN's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
Intellicheck, Inc. Profitability — ROE, Margins, and Quality Score
Intellicheck, Inc. (IDN) earns a quality factor score of 43/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -5.4%, compared to the Technology sector average of -1.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -4.6% versus the sector average of -1.0%.
On a margin basis, Intellicheck, Inc. reports gross margins of 90.3%, compared to 50.9% for the sector. The operating margin is -7.1% (sector: -0.5%). Net profit margin stands at -6.1%, versus -1.5% for the average Technology stock. Revenue growth is running at 28.7% on a trailing basis, compared to 14.2% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
IDN Debt, Balance Sheet, and Financial Health
Intellicheck, Inc. has a debt-to-equity ratio of 18.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 3.68x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $7M.
IDN has a beta of 0.97, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Intellicheck, Inc. is 35/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
Intellicheck, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Intellicheck, Inc. reported revenue of $21M and earnings per share (EPS) of $0.07. Net income for the quarter was $-1M. Gross margin was 90.3%. Operating income came in at $-1M.
In FY 2025, Intellicheck, Inc. reported revenue of $23M and earnings per share (EPS) of $0.07. Net income for the quarter was $1M. Gross margin was 90.4%. Revenue grew 13.3% year-over-year compared to FY 2024. Operating income came in at $1M.
In Q3 2025, Intellicheck, Inc. reported revenue of $6M and earnings per share (EPS) of $0.01. Net income for the quarter was $290,000. Gross margin was 90.5%. Revenue grew 27.7% year-over-year compared to Q3 2024. Operating income came in at $238,000.
In Q2 2025, Intellicheck, Inc. reported revenue of $5M and earnings per share (EPS) of $-0.01. Net income for the quarter was $-251,000. Gross margin was 89.8%. Revenue grew 9.7% year-over-year compared to Q2 2024. Operating income came in at $-298,000.
Over the past 8 quarters, Intellicheck, Inc. has demonstrated a growth trajectory, with revenue expanding from $5M to $21M. Investors analyzing IDN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
IDN Dividend Yield and Income Analysis
Intellicheck, Inc. (IDN) does not currently pay a dividend. This is common among smaller companies in the Computer Software industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.
IDN Momentum and Technical Analysis Profile
Intellicheck, Inc. (IDN) has a momentum factor score of 68/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 24/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 40/100 reflects moderate short selling activity.
IDN vs Competitors — Technology Sector Ranking and Peer Comparison
Comparing IDN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full IDN vs S&P 500 (SPY) comparison to assess how Intellicheck, Inc. stacks up against the broader market across all factor dimensions.
IDN Next Earnings Date
No upcoming earnings date has been announced for Intellicheck, Inc. (IDN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy IDN? — Investment Thesis Summary
Intellicheck, Inc. presents a balanced picture with arguments on both sides. Price momentum is positive at 68/100, suggesting the trend favors buyers. High volatility (stability score 35/100) increases portfolio risk.
In summary, Intellicheck, Inc. (IDN) earns a Hold rating with a composite score of 46.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on IDN stock.
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Execution Benchmarks audit
Revenue Growth
YOY expansion rate
28.7%
Sector: 14.2%
+102% VS SCTR
Gross Margin
Core pricing power
90.3%
Sector: 50.9%
+77% VS SCTR
Operating Margin
Operating efficiency
-7.1%
Sector: -0.5%
+1351% VS SCTR
Net Margin
Bottom-line conversion
-6.1%
Sector: -1.5%
+304% VS SCTR
Return on Equity
Equity capital efficiency
-5.4%
Sector: -1.4%
+274% VS SCTR
Return on Assets
Asset base utilization
-4.6%
Sector: -1.0%
+375% VS SCTR
Debt/Equity
Financial leverage load
18.0%
Sector: 43.0%
+58% VS SCTR
Dividend Yield
Direct cash return
0.0%
Sector: 0.0%
-NaN% VS SCTR
+142%
Price / Sales
7.6x
+621%
Intellicheck, Inc. exhibits a 244% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
-4.6%
Sector: -1.0%
Gross Margin
Pricing power and cost efficiency
90.3%
Sector: 50.9%
Operating Margin
Core business profitability
-7.1%
Sector: -0.5%
Net Margin
Bottom-line profitability
-6.1%
Sector: -1.5%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.