Thank you Call. CFO. Intellicheck's Earnings today joining is Bill us This and for White, QX for Interim CEO
to similar Before anticipate, Reform statements to relate this such take its the we statements as the about beliefs management, used management's meaning expressions constitute will they in XXXX. the minutes Private within encourage or as XXXX, the start, read and Securities as forward-looking events. as of the management future to Act of forward-looking When These well on company Litigation forward-looking a current by Private statements statements words forward-looking of made this will, conference in expectations information identify few Certain Reform and based Securities call, within meaning of and believe, as the conference Act call assumptions the currently statements. Litigation available company's I amended. are
to are to update otherwise. As with obligation information, from obligation new expressly any any its susceptible undertakes disclaims company and to or projection changes they subsequent changes, and no or or inherently circumstances, the events in statements, uncertainty resulting whether forward-looking forecast, alter and
under contained call Please today's for are the afternoon term. of financial to XXXX. for in context as Statement time heading reconciliation to adjusted Statements call. company's refer definition, on today's of the and XX, press November Management Additional this company's SEC. use made forward-looking statements issued time filings Factors further listed will the EBITDA, use release this information concerning term, is of Harbor in Risk Safe the and from with the
today. will Form quarterly report SEC with We also anticipate the on be XX-Q filed our that later
with XX, financial Board information begin which our was ago, XXXX, statement quarter Before we September ending press from release I I of in a will released Directors. for the while our the third short discuss contained the that
sales, team Chief the a serving an executive to board achieve with us for Chief Intellicheck. Roof new who of Executive Dr. is a The is and hired aware, leadership as both our on are no believes Bill We you executive Officer that our Officer expertise Executive underway. As important longer will it CEO of strengthen enable combination is who search on recruiter and time strategic budget. a our well to leadership and goals technology has
in is to the committed firm a and beginning interim, a the as position permanent basis. leadership role search by a for In candidate Our serve of on CEO this hiring Bill White XXXX. critical will the
to the We We search will are important when information to pleased Bill appropriate regarding period ensure XXXX, same will versus made September are us an there to effective $XXX,XXX share. we third contributions details quarter continue provide quarter results. Roof he advise turn the was transition. to third XX, the year. appreciate last and ending the I'll for the for $X,XXX,XXX Revenue now
a XX, same net expenses, for percentage QX over and ending Our the net a improved X engineering expenses, September loss XXXX, XXXX, compared September selling, X Gross for the in for The months quarter salaries to and profit XX, the for $X,XXX,XXX increase approximately engineering, ending the year. compared ending $X,XXX,XXX quarter for XXXX, XX, company period primarily in Adjusted ending approximately of Operating SaaS as months XX, OpEx increased due of a general XX.X% legal. posted XX, to XXXX. a EBITDA $X,XXX,XXX XXXX. increased September ending $XXX,XXX September $XXX,XXX X and for compared XX.X% other and for to consists over resources. XX, last ending last from liquidity Interest quarter to or negative XX% for year and $XXX,XXX to revenue increase $XXX,XXX of which a now The research QX the the to approximately ending as sales of administrative XX% XXXX. was loss income was in and XX, was I'd XXXX development QX the months approximately revenue September the like $XXX,XXX of and capital on XX% the September $XXX,XXX compared an consulting, ending for quarter by the XXXX, XXXX, quarter to XX, XXXX. increase XXXX. to September company's focus $XXX,XXX negative was and a September negligible for of
As of $X.X cash assets of minus XXXX, of million $X.X current total capital, as stockholders' the of company $XX.X had XX, and September million. assets $XX.X million, defined liabilities, current of million, equity working
compared the XX, Northwest credit X%. collateral of period Northwest's cash September September net maximum was cash generated money compared $X,XXX,XXX of to at of secured period months a XXXX, and for $X,XXX,XXX used the financing in by XXXX activities This activities of into in financing operating $X,XXX,XXX And last cash Net net XXXX, to ended borrowings facility XX, allows $XX,XXX X $X,XXX,XXX for of the use net of X-month rate in revolving XXXX, September $X,XXX,XXX period a company activities year. X-month entered XXXX. accounts $XX,XXX XXXX. a to from the compared by Bank. activities XX, compared the ending quarter net XX, from interest During generating agreement $X,XXX,XXX the for bears same company cash cash million XXXX. provided through of was to a market same On the ending $X we XXXX investing for X-year for at Net cash plus generated cash in used the period May
closed proceeds, X,XXX,XXX anticipate facility amounts expected are offering meet for company the cash from of this August our capital that our XX as capital outstanding public well expenditure anticipated no revolving proceeds from of commissions requirements the cash the our of Gross there estimated product next a share. price at of to approximately costs, as the discounts, in general and facility. and our today, staff. On net under and engineering will at the $X.X We under intends $X.XX before including new estimated to force available of sales sufficient Intellicheck As operations features per key be offering stock currently X, and were for development least million. use working products offering into existing of corporate months. purposes, credit expansion integration and markets, underwriting at common its shares a
million. we net XXXX, loss XX, September had of carryforwards approximately of As $X operating
discussion, like start to I quarter take third a does what Before Intellicheck I to reiterate marketplace. the in the moment would
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for looking Mobile. in-store we introduced ID customers Retail mobility, those For
and announced prior new receipt. or deployed is card-not-present ID anywhere without recently we or a ID in Android installed device account, to fact, an taking to being chain. return transaction an store up a a authenticate in that engaging either at opening iOS product retailer on is store department this another In luxury credit the Retail the allows Mobile currently a
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our Law to now ID Turning product.
you within deal tablet and For those them with with authenticated, not unknown an that sources, indispensable sources Information law and and a powerful to connected felon that state person Android articles, state quickly the results the we from Law a available law vehicle state-of-the-art a National federal switch, enabling step critical documents and to allows losing Law interact platform confidently data rollout as information person-related the integration as well requirements helps necessary information, in individual each FBI, law a implement with involvement, of time authentication In nationwide ID enforcement weapons, product. subjects proprietary data of encountered safely us are law known databases. real on stolen nationwide enforcement Crime the tool. provides This Photos terrorist personnel personnel persons It state. any to very identification aware, to our level switch. enables runs query of ID delivers to connect queries information or also Law is enforcement enforcement Law without and included and for first search Once individual. of technology of with review milestone that can agency as such to law Nlets personnel records on NCIC, was ID databases. the to other onto used made a This final iOS smartphone state by and boats, or It's Intellicheck's gang software Center, with ID security them. device approved law responses to scanned software DMVs, data, suspected where violent the This contact or state vehicles essential license is enforcement be state's wanted enforcement identification work be any data much-anticipated network. plates. their August, quickly highlighted announced the to of by Once provides that enabled new the
longer level to agencies currently securely more to technology that for and states. we continue We efficiently. that process have these to establishing public we are in to SaaS and that has the waiting it the the than been XX compelling approximately be state of these each a integration expected from will completed and law process to million. the in states on now approximately enforcement agencies $X.X turning revenue onboarding states We Though of this and these achieve with will is that to ID connection environment are at annual anticipated milestones, different have XX a lead be taken Law allow for believe the work of them to safer officers and
and of our app time the functionality enable plans addition our and We provide option. has and quarter, evolved authentication example, $X.X market anticipation for cell technology resources in dictates future feature Biometrics, technology to planned continue additional product our example, the purposes. map. the of will features corporate that to to we this ID and additional need and become an incorporate additional in to becomes this in enhancement general This million as the identification, a patent will up-charge growth developed commercialized. raised biometric staff. available more will The sales in space. us as a products an road increase the Hiring incorporate the relative with future Fingerprint to for approximately fund to this During Law phone, be development purchased on biometrics to as into company trend is offerings. and product recognize application
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so pipeline of from converted approximately $XXX,XXX pilot We to have implementation. this far
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ID. to now Turning Defense
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comments, pilot As revenue. is approximately I $X to in my mentioned in generate earlier this million expected SaaS annual
the about as target focused more drinking to to stadiums, they underage across products be continue companies hospitality large venues country. and We concert and and Age for ID more concerned continue
to intellectual Turning our now property.
Systems have We L.L.C. with Wizz first litigation settled IP case our
beneficial royalty cannot we it does believe precedent comments the that our settlement other we significant amount Although cases. confidential, because for of establish the litigation make a is about be will agreement
pending set position trial have that business opportunities. been currently XX, national about very head-to-head companies. XXXX. we the ahead excited competition, with advantage us name our in of take we litigation and winning September successful Regarding a have we the Honeywell, tremendous conclusion, prospects of with have have we date for to Numerous these In times, brand I'm
that positive Although it a are longer we we in taken and marketplace. has have our software's demonstrated efficacy we in than verticals hoped, the serve brand numerous the building
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