Intellicheck Mobilisa, Inc. (NYSE MKT:IDN) Q4 2019 Earnings Conference Call - Final Transcript

Mar 11, 2020 • 04:30 pm ET

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Intellicheck Mobilisa, Inc. (NYSE MKT:IDN) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings and welcome to the Q4 Year-End 2019 Earnings Call.

[Operator Instructions]

It is now my pleasure to introduce your host, Gar Jackson. Please go ahead.

Executive
Gar Jackson

Thank you, operator. Good afternoon and thank you for joining us today for the Intellicheck Fourth Quarter 2019 Earnings Call.

Before we get started, I will take a few minutes to read the forward-looking statement. Certain statements in this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended. When used in this conference call, words such as will, believe, expect, anticipate, encourage, and similar expressions as they relate to the company or its management, as well as assumptions made by and information currently available to the company's management, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs about future events.

As of any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances, and the company undertakes no obligation to and expressly disclaims any obligation to update or alter its forward-looking statements, whether resulting from such changes, new information, subsequent events, or otherwise. Additional information concerning forward-looking statements is contained under the headings of Safe Harbor Statement and Risk Factors listed from time to time in the company's filings with the Securities and Exchange Commission.

Statements made on today's call are as of today, March 11, 2020. Management will use the financial term adjusted EBITDA in today's call. Please refer to the company's press release issued this afternoon for further definition, reconciliation and context for the use of this term.

We will begin today's call with Bryan Lewis, Intellicheck's Chief Executive Officer, and then Bill White, Intellicheck's Chief Financial Officer, who will discuss the Q4 financial results. Following their prepared remarks, we will take questions from our analysts and institutional investors.

Today's call will be limited to one hour, and I will now turn the call over to Bryan.

Executive
Bryan Lewis

Thank you, Gar, and welcome, everyone, to the Q4 and fiscal year 2019 earnings call.

I think I've started each one of these calls by saying how excited I am to be hosting it, but for this call I would have to say that I am ecstatic. I'm delighted to announce that this is the first EBITDA positive quarter the company has had since Q3 2014. We set quite the challenge for ourselves this year, and that was to drive sales and accelerate implementations with a focus on achieving profitability. Through dedication, focus, and a lot of hard work, together, we rose to that challenge. I am very pleased to report to you that Intellicheck achieved positive adjusted EBITDA in Q4 2019 of over $216,000. We'll begin by highlighting some of the numbers for the quarter and the year.

Total revenue for Q4 was up over 50% versus Q3 2019 and up over 118% over Q4 2018. More importantly, sequential SaaS revenue was up 64% versus