2024-05-06 00:34:59 ET
Summary
- Intellicheck has faced challenges in sales execution and customer concentration in the retail sector, leading to a dip in SaaS revenue growth.
- The company has made progress in revamping its sales team and securing large deals, which is expected to re-accelerate growth and profitability in FY25 and further diversify its revenue stream.
- IDN appears undervalued compared to peers, likely due to its micro-cap status, which prevents institutional interest.
- I have assigned a 'buy' rating.
Investment Thesis
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For further details see:
Intellicheck: A Wave Of Large Deals On The Horizon