Intellicheck Mobilisa (IDN) saw its loss narrow to $0.94 million, or $0.09 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.14 million, or $0.22 a share.

Revenue during the quarter dropped 25.04 percent to $0.71 million from $0.95 million in the previous year period. Gross margin for the quarter expanded 179 basis points over the previous year period to 84.64 percent.

Operating loss for the quarter was $0.94 million, compared with an operating loss of $2.15 million in the previous year period.

Adjusted EBITDA for the quarter stood at negative $0.74 million compared to negative $1.74 million in the prior year second quarter.

"We now believe our outlook to be even stronger than we communicated on our fourth quarter earnings call. Our financial metrics show marked improvement with demonstrated increased gross margins, ongoing success in lowering operating expenses and significantly improved EBIDTA performance. We believe that our sales and product development processes are returning the value we expected. We presently anticipate persistent, increasing momentum as pilots convert to contracts and our client engagement demonstrates escalating strength. We are seeing our robust and growing product suites of industry leading technology solutions enthusiastically embraced by an expanding client base ranging from large financial institutions and major national retailers to alcohol control and law enforcement organizations," said Intellicheck chief executive officer Dr. William Roof.

Cash flow from financing activities was $0.02 million for the quarter as against cash outgo of $1.10 million in the last year period.

Cash and cash equivalents stood at stood at $2.30 million as at Mar. 31, 2017.