IDN - Earnings call transcript Q4 2019

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Operator

Greetings and welcome to the Q4 Yearend 2019 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded.

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

Gar Jackson

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

obligation company Before call, anticipate, Litigation they Certain will read we available Litigation within on of are inherently as they When to the this forward-looking call I subsequent conference few the uncertainty and statements words forward-looking of its the encourage get relate similar expressly to Private XXXX in statements of susceptible current minutes from will, otherwise. in the amended. Securities These constitute by take management's of Reform forecast, obligation circumstances Act about changes, identify the disclaims forward-looking whether expect, the any such Private well used Act and within in statements believe, and undertakes to changes future as statements based as a and or XXXX. are and update information, meaning expressions to alter expectations statement. meaning made beliefs of new or statements, management, its this Reform conference forward-looking to such events as any resulting started, projection forward-looking Securities or management and the events as the assumptions company's currently information to or no as company

today's of of the Exchange XXXX. time concerning and filings Harbor information made the to company's Additional as the today, headings and statements Safe in with Risk Commission, are XX, statements under contained listed on time is Statement March Factors from forward-looking call Securities

this afternoon company's issued adjusted term Please term. today's call. will of for reconciliation refer this to definition, the press the Management further use context and in the use EBITDA release for financial

White, results. Chief begin discuss today's QX Bryan and Officer, financial the with Officer; Intellicheck's who Financial will then Executive Intellicheck's call Lewis, Chief Bill will We

and analysts from remarks, take prepared will we institutional Following investors. questions our their

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

Bryan Lewis

welcome earnings to QX and Gar, XXXX the you, fiscal year and Thank everyone call.

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

We'll begin over XX% revenue some Total the for for up QX over highlighting and over and numbers year. up QX by XXXX of the XXXX. versus the was QX XXX% quarter

XX% and QX revenue over XXXX. XXXX. in XXX% over XXXX over QX revenues SaaS importantly, More grew up total sequential Total up versus XXXX XXXX was revenues and SaaS XX% XXX%

We ended million in the quarter cash million versus with in QX. $X.X $X.XX

monthly strengthen a propelled per earnings, In per much the pricing that to exercise model store pricing position. minimums revenue during warrants model XXXX that growth positive our a shareholders our company in issued addition some had certainly from change in the the to the fourth The help quarter. scan were with of cash

year with with the XX% milestone up up to scan up a QX Black while was even is XX% over scans of note were XXXX. one QX XXX,XXX interesting volumes largest of Friday An volumes over growth. over that the approximately acutely. said, in just over the revenue up XXXX half Isolating I XXXX XXX% scan total less day than total XXXX increase XX%. XXXX were more day scan this was QX revenues As revenues demonstrates Revenue XXX%

shop data season, the The was to second during Christmas recent shortened the also of people XXX,XXX until highest Eve shopping holiday suggest that lot waited minute the scans. last day a with

If a during quarter new or the pricing QX the busiest recall under want their Retailers per for revenue-wise you Intellicheck had store point-of-sale been system traditionally model. touch not do season. introduce flat to processes

XX% per of of during XX% and model and the QX came scans. in seen that scan advantage us to seasonality take QX, in all in allowed The QX of We've scans XX% QX. historically

and would So expect same in QX QX scanning QX to activity SaaS and affect. seasonality we XX% modeling in an QX in By XXXX QX are be over by revenues XXXX lift we over accordingly. the this expect approximate we token dampened

looking making Before naming to started one, to the some of highlights some as QX, for story. refer things card attention bring bring how order quarters change and bank we've I'm in to clients. in our and three accomplished in etcetera these banks clarity the to few a I already A growth at I QX two, credit to your clients want ago, issuer I

approach really banks of bit much clients companies. that they these has become as aren't as Now services a confusing some are as financial

will So going forward one, company financial two, it three services be etcetera.

to the financial add can that apply Intellicheck you QX of for commitment our one number to happy you at underscores financial to volume progress roster companies, As it the credit not the ID. high company where with retailers scans, the authentication added is directly retailer's Intellicheck's a we with from share service but services XX technology. this their of to continues in look They retailers website authenticates and I'm

A to their bring two. they are of services live. add They retailers number similar looking list financial continue the to company to story from

a relationship contract say quite scan very were second-highest This with high client. client. the the electronics is pleased Friday turnaround. they that and case. in completed of the retailer On three to their scan our lookup growth is number Financial very of account this company been scan the in implementation our the since Black are for it use rollout model. large We renewal per QX services I'm excited pay alone,

through the ID services caution financial sign, for quarter this I scheduled number will on I rollout while to see positive this authentication currently late number also year project already as three This This us $XXX,XXX to order April branches. in company three very perform a bank hardware due in that is a for beginning their scanner is placed side. delays

yellow. So trending as I and view the green state to

in number four product QX. their rollout services to bank rolled current their center. Financial company our This web-based branches out their they quarter auto loan completed through authentication

the whenever they externally. the both April of to begin In product interesting they for someone's identity and need challenge rollout feel addition, web several internally in used will cases

Here few with us. they are examples a shared

One of very they will sensitive definite need employee needs to log authenticate. into to a system,

online with in changes. or this to case involves change the to would their that individual the are account, used is of if details sensitive Another they going proceed authenticate require calling someone who

number continue is about the of number excited to be ways finding We use Intellicheck. to four

I calls and is global innovative technology into happy call largest very the a businesses planning authentication am solutions providing straight They're financial Canadian also credit in solution on sizes of are not pilot, to of financial as management a QX. company queries say payment, and for US seven They going this seven. have we This signed services to individuals in new Intellicheck's their they also centers and be services number centers use changes. one a account in card will to for deploying expense for company of travel all openings Number well is account and issuers. expand their that inbound as call production.

financing to in company paid eight a number lender. company services will point-of-sale locations. our will businesses and a a financial provider payment has signed are that solutions for This be retail become be Canadian first We've a pilot. and X,XXX are leading Canada sales of four-month pilot. This across financing They

spoken credit this institutions The XX% have financial Amex issuers XX these the believe now I that I've of Canadian probably is validation our these clients cards now service. XX We is all as for a we of account have strong banks of clients. news to five that first Discover about issued. good our the as and lender. XX% fact and plus

Now bringing company we the their cases well within used minding fast we they possible can retailers we as live are can. as each and focusing on as as all

revenue. This have with I of alone stopping believe not these over there. in the we us tremendous five is growth ahead issues brings what

we As the with would I contracts come able to solutions our model valuable pricing are pricing aligned. to our are clients assert what in up compared existing power. the Many of for market were so proving renewal, value value proposition below our were consider not contracts current

increases, customers of clients losses to not sustaining the While without happy understand table our would be they value they are with services. level and bring and price the we the

whose locations working big-box retail a have since we over February. example, client renewed an XXXX with with XXXX been we've in As contract

scan to and the is now outside by peak and with were holiday renewal. This services, during Driven our additional our XX% we of able per monthly the these platform client minimums season. effectiveness shopping also increase on

tell that they right had On their XXX I'm last chain a to ecstatic look present not week development store we us in say delighted about retail fraud you I related on important call eliminated holiday Friday spoke the the the basically retail we that account problem brought caught card in another season. the to before up. I shared us up Black to with live sector. pilot after

our cases reference for theft. expanding Intellicheck. and client analysts speaking to production in identity on prospects and our autopilot, now This fraud now major to stop are They ability in used industry and are about retailer working the

active our we various stages from ranging with planning look implementation implementation of projects in forward, implementation to early robust As stages. XX pipeline remains

strong for billion. around using age hacked agencies. that we the of credibility has new breached over importantly our and gives remain it pace billion don't three The theft the products not the into ID. data and breaches and XX added Financial identity a QX, of In are law sales of is level been adding away. restricted Our firms going clear that alone. competitors estimate even highly clients is for makes simply of enforcement us we continually fact clients records our The have. harvested records markets over more in law-enforcement are use that that age agencies X sensitive X The XXXX number data data new

and this available and Quest have names, exposing is and out stolen that life Americans addresses firms Now realize It's Labcorp third stolen. for problem all steal your of any isn't XXXX. big data to from number, I a challenges. that identity but the can retailers and math. both experience data identity and identity being mentioned about pass authentication their worse. and had in I we're for learn stolen almost more victims there and it's seconds knowledge-based day That's away easily in Security Social breach so fact XX.X every until big a targeted, consumers Every medical criminal I've underscore records. an banks, going healthcare much readers your how two didn't that a Diagnostics did at the suggests are numbers This fact related identities have getting

shy forward what effort and amazing be think the two come, It's of long XXXX. two-year we've our and earnings I proves I approach evidence the With I call everyone that coming out. dedication. around. as that story years a accomplished hard look to week is that for strategic to I'm That I've it to turned of part Intellicheck our all an of see market a thank proud very our work invigorated I time that said way in my a Intellicheck CEO what was believe very team been. the anniversary exciting I and for want the all to first has and and their had

like our seen call impact our all the the remotely watching items, are business. we everyone believe the because daily over will operations can it Intellicheck. at I At impact have no no of Bill to on Corona passing time two we've Virus. on reports have BEFORE on We work this you final

evolves. continue We the as monitor situation will it to

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was Bush Prior to where a issues. team Sonny Special member the Georgia for Washington Deputy joining of W. Guggenheim economic to the Economic policy he he economic White served on various for the National served Chief of and Governor Perdue Assistant House Council George as in President of DC Staff President advising in as the

him Dylan to have Intellicheck. to working excited and forward I look at very with on board are We in

that, With turn I Bill discuss to over to financials. it the will

Bill White

good to fourth I'd a afternoon. ending the XXXX, quarter information and Brian of for the shareholders, released our that you, day XX, financial in discuss to which contained Thank was we and release December listeners. guests some year fiscal and our this like press

revenue I'll same versus to XXXX period $X,XXX,XXX quarter fourth for begin for fourth-quarter grew the with December XXX% the our results; last XX, $X,XXX,XXX year. ended

software as Our $XXX,XXX XXXX. $X,XXX,XXX increase $X,XXX,XXX a approximately service XX% with revenue and for XXX% and sequential a from versus XXXX, QX was a XXXX in QX approximately increase QX

and year. which expenses of increase and primarily sales research Directors of $X,XXX,XXX to an personnel for and $XXX,XXX to certain versus increased our prior in a bond Committee. was XXXX contended the the expenses annual XX.X% to profit established Gross by which quarter revenue goals Compensation approximately or driven Board G&A quarter XX.X% $X.X compared commissions of selling, percentage by sales new bonus due The XX, for ended was development achieving and as XX% Operating the plan, XX, is December the increased to by December consists in growth to XXXX. million support development increase incentive ended

of the The $X.XX loss XXXX for ending December diluted year. quarter share three December quarter EBITDA XXXX. The net compared net for XX, December to income quarter per to share the the a net negative was prior $X.XX Adjusted versus $XXX,XXX income a in XXXX company the XXXX. XX, for ended a compared XX, net of posted ended diluted months $XXX,XXX in $XXX,XXX December per loss XX, ending $XXX,XXX was the of

our prior $X.XX results; the revenue year to compared $X.XX XXXX year. for for to XX% ended to turning was full XX, Now full the up XXXX year million million December

by of XXXX SaaS $X.X an our profit year. year as Our the gross business, of million SaaS calendar revenue growth as in for revenue prior was to Driven million the compared increase XXX% $X.XX percentage a compared the XX, was XX% were $X.X the to XX.X% XXXX million prior for for the year year December ended year XX, million XX, the $X.X December expenses XXXX ended for ended XXXX. December year. from Operating for in

as stock-based new a increased bonus and expense certain commissions December the result a million administrative year, is expense, $X.X of goals to as sales being set ended Board Committee. and million general which Selling, X% achieved for upon $X.X Compensation XXXX XX, increased for from year program compensation the incentive by prior and contingent the primarily Directors annual of

$X.XX loss share for was prior XX, year $X $X.X December research $X.XX efforts. development versus loss for a million per XXXX by million period. XX, development mentioned, million bonus net to diluted The net and decreases $X.X to increased the personnel from and ended the year XXXX ended company and annual by research ended previously December expenses development year the year driven outside as the The new had for the XX, XX% XXXX. as incentive December plan in the of $X.X compared year million calendar offset increased XXXX in for

XX, EBITDA a ended XXXX. income end of December $X.X Weighted XXXX for million share a year $XX.X count million $XX.X million the average other the $X.X million Adjusted were and XXXX million to approximately December as Interest to and improvement was $X.X was compared during an $XXX,XXX negative adjusted for XXXX. for year negative of $XX,XXX XX, EBITDA respectively. compared

resources. I'd company's and on like liquidity to focus now the capital

had its stockholders' of minus to As the total of fund million $X.X million, $XX.X of of $XX current of working assets XXXX, December current $X.X million, million. equity cash XX, and company assets liabilities capital

million ended of million the approximately used $X $X.X XXXX During XX, the during XXXX. cash the ending to XX, net of year company's December net year compared cash December

from activities compared used in December the December XXXX million net period was by Net investing investing cash same XXXX was $XXX,XXX operating generated year the financing in the and we used for $X.X provided a activities year for to ended XXXX XXXX. net of Net of XXXX. the in in to XX, generating year from for activities activities compared $XXX,XXX cash of cash financing $X.X $XXX,XXX for million $XX,XXX by cash cash activities to XX, ended compared

revolving bears the of maximum entered a accountant at On facility into X%. Citibank space company with million collateral February agreement borrowings $X for interest XX, secured minus of by Citibank. allows credit XXXX This and rate

As of today this there are no facility. amounts outstanding under

meet currently XX revolving credit least anticipated cash requirements We for as will our at anticipate available to under and be operations next that capital sufficient cash available capital months. the expected and the well as working from our facility expenditure

of operating As approximately XXXX $XX net loss forwards company of had carry December XX, the million.

call turn your take questions, to the now operator to operator? the I'll back over

Operator

Thank you.

session. We will from instructions] a with question-and-answer now go Securities. Mike question comes [Operator conducting Please Grondahl ahead. be Our Northland first

Mike Grondahl

quarter update Thank to company progress you number number the Really, really and on the six? is congrats services Brian see. and great guys. any on there five or financial

Bryan Lewis

Yes volume as loan I number their it I number the just they them out a are don't said, six lot of five different scan of to location. to expect bank. of online consistently out kind roll subprime and continues

So there Number proof a to of from they just stores. for onboarding can and rolling concept was authentication do standpoint are. out, prove out who or five it's that their is rolling usual present a we person that rolling show not more my not out, to

Mike Grondahl

pilot, and we two think Got How those it you and about wins, new in. we'll seven do I layering scan? with understand begin two the do and ones a see new eight's when eight to think

Bryan Lewis

to card there. center one scans matter a it are They their Number in give of really able I going providers credit a going call of scan to us it's be, they out volumes are tablets a flood just a of fast idea seven, not Number of them. stores. their the eight things do they is of folks. lot begin They to train really good am weren't rolling how with begin from largest out, in production what They're massive now. thought definitely they to expecting

be volume can't and But it's to say too They clarity be and to process I the them. here given ramp to client, is give new going enough have it new a are decent but brand-new that I just I'm right queries then expecting account accounts is them. a now this any from for don't

Mike Grondahl

and in in it, centers in Got soon call be will centers call the Canadian but it US XQ.

Bryan Lewis

that Yes correct. is plan

Mike Grondahl

it, XXXX XX in implementations that you now. Got backlog there's the you in or say then did that did XX and

Bryan Lewis

It's and in all XX I in think currently XX in XXXX. the backlog implementations XX queue. got now implementation We've XX of

Mike Grondahl

it, services then just financial what's think and fourth that you a Got XXX,XXX something were that over when again maybe last and maybe the I company you said explain and there on going you hardware just question, three, order, you go about talking could talk quarter? in about XXX,XXX was

Bryan Lewis

that so Yes in particular a that and to of for passports things, on scanner. we will so order dedicate retail workstations that teller those cannot licenses their drivers QX scanners couple they that are used need be

that MSA hardware it these buy to and for So trying it the quicker an us through banks out Master it's with us a with Services it's the to going reason get vendor sometimes already it easier purchase through. agreement place than to is they throughout and because have they

get So do to and of business. in our hardware my have an certainly intent help to not we out more accommodation the clients

the delivered. scanners made order a for it was get just easier the to placed this and lot client So the

Mike Grondahl

they some service. did Okay expand and

it I and done. may said account thought and maybe then else, first I'll it be that at finish be just look think was includes you something also up

Bryan Lewis

were into for up we are retailer what think cases live the season. and I XXX and doing credit it our you're non-receded purely of part the used right looking main main look about expand holiday the account they to issuance that is new store returns now before for other No They talking that retailer. brought

Mike Grondahl

and Okay. Got congratulations. a lot it thanks

Operator

Our Buck Please ahead. B. with next Scott question comes go Riley. from

Scott Buck

implementations you've of virus now taking customer your kind any that the of eight to fears specifically guys my I'm up seen broad like probably regards Good if that their there. afternoon, retailers question. any setting anything out more hesitation Corona for or curious from or in some are thanks given and of

Bryan Lewis

cloud. good point that don't just of plug are in in require it's cloud, the any I think stuff the calling into of the -- the the done implementations our or also to It's thing to they is delighted all kind we're sale guys stores face-to-face of anybody are system. their in APIs in or be because the

no to So down slowing anything worry virus. need about because Corona the

education in any anything on schedules, not life. definitely getting implementation So implementation, going

Scott Buck

That's Okay. great.

at these Second in counter of percentage is customers generated store staff's you that newer signed? what revenue online some versus checkout terms the of any of

Bryan Lewis

the say would in-store. of is vast I majority currently it

store a time, the revenue I will and think say mobile that is more stream. become over things new but account majority I will look environment definitely of account the course of that of ups the in

Scott Buck

one margin Okay of any in that Canada in company financial about? be difference services last should we Great your and profile thinking eight or new and in States terms number pricing the versus

Bryan Lewis

No.

Operator

question with Amy from Norflus go comes Neuberger Next ahead. Please Berman.

Amy Norflus

of how I questions, one, an board, new give the number or you have are you Board size? board will get. how Number anybody coming two, about does idea on the the leave thinking two me big people can

Bryan Lewis

got allowed of I on net nine the much, left add, no on Board is mass and were to the a as was that nobody Well there today a a just member there Board. are board, can't have my Meeting say I first this I

Amy Norflus

then think, if and company think you trying anyone And are how online if the to validating retail into face-to-face, do IDs online to I understand you if an stores less they're I know then if seven buying to somebody number explain the purchase. can is financial where online Okay. people product be aren't traffic need implementation there's you coming happens but the to doesn't question what the

Bryan Lewis

want I on license that, decide one let's that so some I ways I'm backward, a and if happens; is website go to like said validate that two So online get to I credit.

phone. asked it to a As for application the mobile part mobile sent credit number a that text online is of phone

your that up text it and can ask applications. the it technology of the use It one also license drivers it's good, from stuff we of their authenticate back how opens that instructs that scanning then if sort the the You scan you and time the license if them to populate camera. we the on click barcode

it customers for online. So easier get we make much to

I If a center the it and number, authenticate again and and mobile call the back. card, is and credit in want call for employee same a say sent ahead send center asks I we is call my data phone Go Amy. text

Amy Norflus

up How number you mobile the correct number. is the phone are matching that

Bryan Lewis

The matching giving the us it the person up, is is and what license they associated we're that telling. their real. phone number. We're that identity not what with the license that matching is license we're That's

to drivers For ask credit still issuing face of a am some front a will for real a that front photo we my financial and the sure of and what's will selfie more control the the further client average also license real, with because than license is a it's number or the card my take I plastic want the five, the to somebody also in matches the a steps make and of of they they then retailer license. license few services on then then go liveliness of printed

Amy Norflus

Okay.

now, to would this this is rolled being card, out And have wants so that through. go whoever process a get they to just is right credit so the

Bryan Lewis

client. which For

Amy Norflus

a really don’t just happens five, more its I'm just am confused five how care number six -- scalability if understand think. I or I just it's trying new it's client norm the it the works. a get names one, you to when I of I from are you and and what then all fraudster you sorry really like tell couldn��t card up, that says seeing the what Wells of data when same the have. credit seeing too I to hypothetically card are beginning I Fargo, Morgan else J.P. get fraud coming are able try you this

Bryan Lewis

our from us. purpose data we a comes thing data into data, the PII, our system. we then we're the state to is whatever of an of so scan, that account new it's what What We authenticate good scan, we so for of is need the data from back they're the know the we immediately know send and them happened. that because now using province after of account scrub parse used it if our do it and in then it jurisdiction and only credit PII comes it's client the for They case, location all in having etcetera track client jurisdiction the license, scan, lookup if programs license location what and

It was That's was keep it is there was good, associated expired, what it PII license. a no because that. bad with we

call now. As for has that centers got while a been number banks far four as the quite doing we've

of month year next system. live will think one I be the anniversary them going on the

So we're call in financial is clients multiple call in using services starting company seven number just centers with it centers.

cell that's authentication. number phone retailers send to and we the for enter your now that company you about in you has one credit, XX services text and I own that think Financial number get if go their website you you to want

it's call around technology, wouldn't new for I So quite been it a while.

Amy Norflus

will and I forward guess. norm the be Okay for going applications all this new

Bryan Lewis

for they integration, no a to it them. integrated in tools. fine, they to with purely on sale the just We're of it it deliver device want point Do want implement do system, best working whatever they clients want with use do mobile way into our web-based immediately works

So it's case really we have. the can deliver and the the used multiple product that ways hardware is fit whatever the client to

out bank aggregated same check worked due on to to checks the we on an just is example their rolled number read with due barcode. to supply deposit, had they in branches, change to retail desks bank and four check and their scanner that configuration good to integrated the we A read

can our client. we this very install on at flexible So were how

Amy Norflus

you an thing each incremental and that what scan they mentioned company. of with one to for the each integrated higher you revenue each And pay money four more items, those

Bryan Lewis

like the is To not doing scans that. it if recognition obviously things a for facial charge I question. sure I'm scan enough me followed we're

Amy Norflus

out Thank queue jump come else you. in. I'll let back of somebody

Operator

Next question with Clear comes go from ahead. Roger Liddell Harbor. Please

Roger Liddell

leverage like in I what describing trouble I are call whole had and the the they with up them. lack would Brian you follow of exactly leverage on to center or

there following label So four private right but certainly private each center organic in get within not enterprise institution. financial wide just so bringing centers in label, Is there services with same entities for there. all call the growth are or are business on one we an centers on additional financial call call

Bryan Lewis

center different the white guess four apply first had and credit want services a cards, call own very for there, I and company when our call you. we commercial of card two work financial saw was financial number would you that then them card now label TV, services centers number you if call you and so the number that for bank sort their four not seven branded cards company authenticate also that's the on they decided things to

centers query, They realize are of certainly to with moving much account authenticate looking as that because to financial it's services the fraud. they their can they're they call as number so much is any four stopping deal so

have and card So call challenge card for Roger. out they all authenticate. to own query question the if all account they you, you plan to feel their inquiries need applications. and to is their answer seven card their their will all they That Number

Roger Liddell

going which is little there Yes there are a but let me -- more available is of rollout a forward. try wave large number to with call get centers inside, a always

step after we another So online. comes center functions as have call one

Bryan Lewis

is we is we're centers and say of financial would why into I them call clients What services all our and announced. their to about enrolling which talking banking

but at are locations multiple group. US I the believe that Canada, is scheduled live they the might part a in same a the then location locations am live have go go sure, again one scheduled only rollout. for there it's couple are and to Not once. numbers most time in seven two For to all at like might have of they but be call-center I They one not

Roger Liddell

the opportunity dealership as across I didn't press significant Auto could applicability as have the in useful, much some this the around texture was dealership preferred. what sectors of terms put fourth from of world. Okay. of more you release texture rollout but Can would've

Bryan Lewis

space but and really like that about dealers Vegas important is if to Dealers too at give The seems they're combined in used-car banks log larger cars off me back the it. leads, because lot few of be customers business solution I thought. out you seems financing existing They to also a that folks have seem your a at convention It Association the won't these It to than Auto right the people this anymore. that package. many were in were came with in quite you you excited very be lot

I So far of has it's I scans, think going dealer solution a XXX larger families now. I of safeguard side because it we're probably the about there's one you lot going pricing business, thought a different certainly thought or it's charging to fewer don't a than in model for get the as past per a that per be It's higher but doing you so we're back because be off pays dealer clients significantly model and get back lot scan. store stores drives to car sort than we trashed know it

we're we're getting sure making So value fair it. our for

opportunity that the is partner early think again excited seeing. about days very it's they are I but still our

Roger Liddell

for of is campus. Is with up that data pace that time each Finally data year to time -- month time just those start on breach is the one relevant showing the still the lag decreasing lag XX everything. where for like or the cycle something the on

Bryan Lewis

about I say [indiscernible] same I you there it come could haven't of out that that there in a out what studies seen so have much but it seems year. and any talked the is be would it anecdotally is

of our go it front They I we're numbers that and the one and experience say the the think have they're will I'll up the in don't up who that a our studied in third up there brokerage victims selling So of I data season, us is exact not the out fraud me, breach have holiday it the there slowdown certainly thing saying fact of guys packaging are I and any much and rates. seeing with but theft. so become identity think data

to part be between of It few in seems nowadays. a who far people and not have breach been

to going it's continue So think worse. get again I to

Operator

comes Kennedy next question with from go Jim Capital. Our Please Marathon ahead.

Jim Kennedy

business, to have to the drill your business? more what a services percentage or on of want retail customers your down little I online granularity elected online bit use

Bryan Lewis

center about got is few I let's call ways. credit. retailers we I for online on website well talk there and want retailer is to a online I and something our where I'm the think now just to and a think for online consumer again as There applying which about The is I get

Jim Kennedy

retail about just the Talk not call center. the

Bryan Lewis

revenue. XX% of probably about the It's

Jim Kennedy

is Okay. services? online fair it Well not retailers your so to percentage say of your of what avail revenue actually themselves

Bryan Lewis

About now. XX of right them

Jim Kennedy

Okay.

you I we've shutdowns, to there online this running question time. virus relationship service lot say that tomorrow. up you and existing you are how or being you retail How this So next have and spin online really continues to going are quickly long more approach business you with? them a How there back already get that over are need there's you or seen comes becomes client able stopped service can if and and going the an etcetera, quickly for to be conventions you XX passage suspect the days a that know up someone done in retail

Bryan Lewis

here on We work them you website the of of just the From very this embed end side. make is Most link. give to your it work simple. very, on in partner our need is code our to

Jim Kennedy

seen started it So three service month or a a months? take typically in you is that or week have

Bryan Lewis

ready cycles gave with of the we XXX any how think the have time go were they to it retailer like store saying testing of terms right was and we're go. on stuff in half It's motivated and to retailers all they That the weeks development so and I depends two are. we him live two,

on very they to So again it It of resources it and quickly the put matters by from That standing is do if wants can do our on are what they it, know ready weeks. doing. a problem. matter they to make they it how, priority, and end retailer of they want, team no what in

Jim Kennedy

you're more lot interest very quickly. suspect I that Okay, in get going to a

on So numbers again the guys. congratulations

Bryan Lewis

Jim. you much Thank very

Operator

Please Fu Lee Our next with comes Oppenheimer. question Yi go ahead. from

Yi Fu Lee

XXXX. quick quick one Brian for and Congrats taking questions to finish the on Thanks my Two for questions. strong one for Bill.

you So there internal can families wondering retailer been Has on disruption the obviously mentioned seem QX there your up on pickups to virus, color on Corona that operations. that the the and from how scan any some affecting like to the your media is for goods. us you is no stocking Was front. give Corona we your business, per virus if due

Bryan Lewis

pick am up. I seeing not coronavirus

I think seasonality scans seeing that guidance given with in the we've the where of we're we scans. thought be they would on line

I say thing. of buy So taking to paper is toilet kind nobody credit up wouldn't that

the on So been run has where to everything. that seems be

not we've on we're watching it. any scanning impact said, the being far that So so seen but

Yi Fu Lee

I XX% Okay. current gave magnitude And on prepared relationship other location retail nice then us up fee. – in next the process pipes the this the the you give you to like or are on the next ones your XXXX that that magnitude a or remarks year some the a your example or that Can mark year. able this think to And over the within on similar you're on of be like within whether relationships lower be would more. it get

Bryan Lewis

pricing level can You that power? mean think get like I of that do I

Yi Fu Lee

Brian. pipe, on Yes and the what's

Bryan Lewis

most the of very renewals were were. client past I guys this long just the Do you rates. year year. big the a that lower we any and signed deals much This think contracts don't had know the other these in signed that we long-term cycle when given of have major that just how was

providing. What of would is say I value we're we what know the

way the are certainly we not the into So deals new that past. now going were in pricing

Yi Fu Lee

this closing in results upon approach XXXX? terms year seeing final the of top our positive on like into fee as XXX% my little how can and with seeing now EBITDA. we you're been you should in Bill, guidance as Bill we XXXX model they’ve one give inspecting of think well for income as and us based row XXXX a up the momentum very and And net we're upbeat

Bill White

solid a But fraud, coronavirus not for XXXX at true and to the began we XXXX was going not given there point. sure. evolving give that's coronavirus this with going is momentum. is we're for quarter to situation QX us in great is stop guidance What

Yi Fu Lee

and that for congrats thanks the and again thanks Okay. quarter. Bill on Bryan

Operator

Please Next comes ahead. Hall with RBC. question Claflin go from

Claflin Hall

'XX you numbers expect implementations backlog guys, you while little is is in XX couple A congratulations. take refilled. backlog. it the and how that clear out it'll to do a did Nice XX fast long had questions there of you that you that getting and mentioned in back How

Bryan Lewis

say with retailers of -- all who I'd there our the retailers system. are their services goal financial on deal is that clients get to

that to with them. us to and work they these look of matter I It's we go anticipate want concealing] all think have sometimes a looking it up, some this how people who [be at The with. So just retailers year. the to look I committed days the work schedule and they done way into will bring retailers some it sometimes to that us that time we would slows that number of to doing who put backlog are get down. next into it backlog are they and the guys speeds

get in happens scheduled going are when the they retailers all date are but mix who there, to The these have implementation a done.

Claflin Hall

Thanks, what? or one eight? to follow-up, to Nine up organization, when you're now you go financial services talk

Bryan Lewis

Eight.

Claflin Hall

Eight.

X, XX, you XX, So XX to and talk do go when you lose? ever

Bryan Lewis

we date haven't. to wood, Knock

with do that financial don’t the says effective a companies are retailers there you this to are of say everybody out am me who ask and good say here's able institutions, and one you they and and a financial of think and out. I we have things me I is just I have to favor, references go yeah how spreadsheet hand services my said when I

there. tell why you're shoot solution I the get on whom phone an me Just know because I'll and you and to the so call them best email, happy with out the expect to from be

working together at they're These fight it as look fraud. guys to all

services happy two, company That's to actually them number services very one, for going services is company company and number one. of like financial are number us. are you financial they'll here talk to XX if all that financial who So tell that I've and say you got I'm well four just references good really to

in. a really position good be it's So to

Claflin Hall

of get you plan -- one business -- do least your during you Do does many do front your at in how you hope internal the XXXX. institutions to

Bryan Lewis

talk Amex main plus and cards or XX and private banks times many of not said might branded it who credit either it Discover credit own cards are providers I've their go Well the market in that which is do to on nice really thing. one to label cards. a all own we're the that certainly very want That's they target I good a and trajectory

We're certainly doing, what almost frames IT hard-pressed to just matter we're a now. benefit their see their with It's them time in of discussions doesn't who are, provide. what the what they're of somebody of we all find

Claflin Hall

Thanks again and congrats.

Operator

floor the for turn to like Bryan would over I Lewis you. comments. to Thank closing

Bryan Lewis

my and call far hopefully for the Thank the you we've past so today. that many did years all Again more. in favorite call two attending had

and healthy Thank very stay much. So keep you shopping.

Operator

today's concludes teleconference. This

You thank this time at your for may and participation. you your lines disconnect

Intellicheck (IDN) 11 Mar 202019 Q4 Earnings call transcript