Aug 13, 2026 earnings call — Customer evaluation and quarterly earnings
A customer representing about 29% of first-half revenue is evaluating a multi-vendor IDV approach; second-quarter revenue was $5.9 million.
Revenue $0.0B (est $0.0B) · EPS $0.03 (est $0.03)
Key quotes
"As of today, I can say that the traffic shift is nowhere near the extent they said it would be."
"The operating discipline behind that strategy has generated four consecutive quarters of profitability."
"Sub-second, 99% barcode-level decisioning that no competitor can replicate because of our exclusive long-standing DMV relationships."
Analyst Q&A 3
Big customer: which services are affected
Q (Rudy Kessinger · D.A. Davidson): Is the large customer’s review covering all the use cases you serve them for? Is the whole 29% of revenue at risk? Also, was the 19% growth figure for the rest of the customer base year-over-year for H1 2026 vs H1 2025?
A: They said the review touches most of the use cases and their messages keep changing minute by minute. Management cannot give a clear yes or no yet and got an update from the customer an hour before the call. Adam said if things continue as now, revenue in 2026 would be higher than 2025 and that the shift affects substantially all use cases where the volume is.
"I will also say that they are changing what they say almost minute by minute in terms of what we expect." — Bryan Lewis (CEO)
Other big customers and competition with Socure
Q (Vijay Homan · Craig-Hallum): Could other large customers move away from sole-source use of you and add vendors, or is this a one-off tied to the merger? Also, do you worry about banking concentration and how do you differ from Socure?
A: Management called this situation a one-off tied to that customer's merger and said other customers are telling them they want to do more with the company. They said they are not very worried about banking macro trends because banks always need fraud protection, and they like targeting smaller banks that are easier to onboard. On competition, management said Socure acts more like an orchestration or templating layer, while Intellicheck does a different, DMV-focused verification work.
"In my opinion, Socure is much more an orchestration layer than they are doing IDV." — Bryan Lewis (CEO)
Evaluation timing and new banking clients
Q (Logan Hennen · Northland): When did the customer's evaluation start and how long might it last? Also, can you give more detail on the three new banking clients and other opportunities you mentioned?
A: They said the company heard about the evaluation at the very end of Q2 and it was supposed to be a Q3 project, but it has not progressed as quickly as the customer said. Bryan said the customer is trying to set up a call with him and Sandra in a couple of weeks and that any significant negative development would be filed in an 8-K. For new business, management said the new delivery method avoids major integration, so it should help win many smaller banks whose fraud rates are similar to the largest banks.
"we did disclose in the Q, we talk about how we heard about this sort of at the very end of the second quarter, and it was basically supposed to be a third quarter evaluation project." — Adam Sragovicz (CFO)