Intellicheck (IDN) IAccess Alpha - Virtual Best Ideas Spring Investment Conference 2025 summary

Business overview and differentiation

• Authenticates nearly 100 million people annually in North America using DMV-issued IDs and proprietary barcode technology.

• Operates hardware-free, enabling integration with existing retail and banking devices for cost efficiency.

• Trusted by 28 state-level and numerous local law enforcement agencies for ID authentication.

• Maintains high client renewal rates, with Q1 renewals and upsells exceeding $10 million in ACV.

• Consistently achieves gross margins above 90% and expects positive EBITDA in 2025.

Market trends and growth drivers

• Identity fraud losses reached $23 billion in 2023, with account takeover fraud up 15% year-over-year.

• 79% of auto dealerships reported identity fraud losses in the past year, highlighting sector vulnerability.

• Data breaches, such as the UnitedHealthcare hack, have made identity theft easier and cheaper.

• Fake IDs are increasingly sophisticated, costing as little as $60 to create a convincing identity.

• Demand for robust ID verification spans automotive, retail, banking, title insurance, and digital account recovery.

Technology and competitive advantage

• Uses proprietary barcode verification to detect hidden security features unique to each jurisdiction.

• Achieves nearly 100% decisioning accuracy, outperforming competitors reliant on photo templating.

• Integrates with existing business systems and offers multiple access methods, including mobile apps and web portals.

• Long-standing relationships with AAMVA and DMVs provide exclusive insights into barcode standards.

• Law enforcement validation and real-world testing confirm over 99% accuracy in detecting fake IDs.