IDNMEDIUM SIGNALOPERATIONAL10-K

IDN expanded its identity verification technology capabilities while achieving solid revenue growth and maintaining healthy balance sheet fundamentals.

The company enhanced its service descriptions to emphasize broader identity validation solutions and added selfie-matching capabilities through third-party integration, suggesting product evolution. The increase in outstanding shares from approximately 19.8M to 20.2M indicates modest equity financing activity during the period.

Comparing 2026-03-19 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

IDN demonstrated solid operational momentum with revenue growing 23% to $4.4M and gross profit expanding to $20.5M, while R&D investment increased meaningfully to $5.3M reflecting continued product development focus. The balance sheet strengthened with current assets rising 40% to $13.9M and total assets growing to $24.5M, though accounts receivable declined 28% to $3.4M. Overall, the financial profile shows a growing company investing in development while maintaining strong liquidity and minimal debt burden.

FINANCIAL STATEMENT CHANGES
Inventory
Balance Sheet
-92.6%
$82K→$6K

Inventory drawn down 92.6% — strong sell-through or deliberate destocking; watch for supply constraints.

Current Assets
Balance Sheet
+40.3%
$9.9M→$13.9M

Current assets grew 40.3% — improving short-term liquidity or inventory/receivables build.

R&D Expense
P&L
+37.8%
$3.9M→$5.3M

R&D investment increased 37.8% — signals commitment to future product development, though near-term margin impact.

Accounts Receivable
Balance Sheet
-28%
$4.7M→$3.4M

Receivables declined — improved collection efficiency or conservative revenue recognition.

Revenue
P&L
+23.2%
$3.6M→$4.4M

Revenue growing 23.2% — solid top-line momentum, watch margins for quality of growth.

Total Liabilities
Balance Sheet
+18.8%
$3.2M→$3.8M

Liabilities increased 18.8% — monitor debt-to-equity ratio and interest coverage.

Current Liabilities
Balance Sheet
+18.8%
$3.2M→$3.8M

Current liabilities rose 18.8% — increased short-term obligations, watch current ratio.

Total Assets
Balance Sheet
+16.9%
$20.9M→$24.5M

Asset base grew 16.9% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+16.6%
$17.7M→$20.7M

Equity base grew 16.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Gross Profit
P&L
+12.8%
$18.2M→$20.5M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

LANGUAGE CHANGES
NEW — 2026-03-19
PRIOR — 2025-03-31
ADDED
Common Stock, $0.001 Par Value 20,239,060 (Title of Class) (No.
We are a prominent technology company that delivers on-demand digital identity validation solutions for Know Your Customer ("KYC") fraud, and age verification needs.
and Canadian jurisdictions also provide a non-driver identification cards as an alternative form of identification for those unable to acquire a driver's license.
and Canadian driver's licenses, state issued non-driver identification cards, military IDs and passports.
Our Intellicheck Service quickly can determine: if the format of the document is valid; if the document has been altered or is fake by displaying the parsed, encoded data for comparison with the printed information; if the document has expired; or if the encoded data contains a date of birth equal to or greater than the legal age to purchase age-restricted products, such as alcohol, vaping products, cannabis and tobacco.
+7 more — sign up free →
REMOVED
Common Stock, $0.001 Par Value 19,816,043 (Title of Class) (No.
We are a prominent technology company that delivers on-demand digital identity validation solutions for KYC, fraud, and age verification needs.
Our technologies address problems such as: Commercial Fraud financial institutions and merchants use our technology to prevent economic losses from check cashing, debit and credit card transactions, account take overs, e-commerce as well as other types of fraud such as identity theft that principally use fraudulent identification documents as proof of identity; Instant Credit Card Approval retail stores and financial institutions use our technology to scan a driver license at a kiosk or at the Point of Sale (POS) to confirm that an applicant is who they claim to be with additional certainty.
and Canadian jurisdiction also provides a non-driver identification card as an alternative form of identification for those unable to acquire a driver license.
and Canadian driver licenses, state issued non-driver identification cards, military IDs and passports.
+7 more — sign up free →
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