Intellicheck Mobilisa Announces Third Quarter 2016 Financial Results

Intellicheck Mobilisa, Inc. (NYSE MKT:IDN), a leader in identity authentication, verification and validation solutions, today announced its financial results for the third quarter ended September 30, 2016.

Revenue for the third quarter ended September 30, 2016 increased 29% to $1,214,308 compared to Q2 2016. During the quarter, the Company achieved an increase in bookings of 38% and a backlog increase of 88% over Q2 2016. In addition, the Company realized a decrease in operating expenses of 34% over Q2 2016 and a decrease of 43 % in operating expenses from Q1 2016. EBITDA loss in the current quarter improved 62% over Q2 2016 to approximately ($490,000).

"During our earnings call last quarter, we shared our expectation that the Company would achieve break-even in the first half of 2017. We continue to support that projection as we see the key indicators we believe will keep us on track to achieve that projection," noted Intellicheck's CEO Dr. William Roof.

The Company expects revenue growth to be fueled by a number of key developments. Retail market adoption of Intellicheck's retail technology solution products including Retail ID and Retail ID Mobile is expected to rise. The Company is currently engaged in some high profile opportunities with nationally recognized, major retail institutions. Expanded opportunities with nationally prominent financial institutions, including banks and payment processors, are also expected to make significant contributions to revenue growth.

Adoption of the Company's industry leading Age ID™ technology solution is expected to increase in the coming quarters. Intellicheck's Age ID identity authentication solution provides the most up-to-date answer to the problem of spotting fake and altered IDs, thereby filling an extensive market need to control fraud and access to age restricted products including alcoholic beverages, tobacco, and marijuana. Currently, there are 16 states and 17 law enforcement authorities using Age ID nationwide.

The Company's award-winning Law ID™ technology solution is anticipated to promote further revenue growth enhanced by Intellicheck's recently announced strategic partnership with Nlets, the International Justice and Public Safety Network. This partnership is projected to compress the sales cycle for the technology solution, significantly, nationwide. Nlets has been the primary mechanism for interstate law enforcement data exchange for 50 years. Nlets' user population is made up of all of the United States and its territories, all Federal agencies with a justice component, selected international agencies, and a variety of strategic partners that serve the law enforcement community cooperatively exchanging data. Intellicheck is currently engaged with a number of law enforcement organizations.

"When I assumed the responsibilities of CEO, we committed to our partners and shareholders that we were embarking upon a new direction for the Company. We have done that. We also committed to a path to achieve revenue growth and profitability as we executed our strategic plan for expanded market adoption of our cutting-edge product offerings. We expanded and leveraged our robust patent portfolio, and cut spending as we moved, on several fronts, to enhance our position as an industry innovator. Since that time, we planned and executed a number of strategic moves including the purchase of a biometric patent portfolio, the reinvigoration of our sales force and our outreach to target markets with communications and marketing programs that are achieving results. We have also introduced new products and have filed for key patents that will allow us to continue our growth trajectory. I look forward to reporting continued progress in the weeks and months ahead," Dr. Roof concluded.

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