ICTS International is a Dutch holding company with three businesses: aviation security services in Europe and Asia, airport ground services in the U.S., and identity verification technology. The core business is aviation security, operated through the I-SEC subsidiary, which provides passenger and baggage screening, cargo screening, perimeter guarding, CCTV surveillance, and access control to airports, airlines, and cargo facilities. I-SEC operates primarily in Germany, Spain, the Netherlands, Denmark, Sweden, and Japan, with European markets accounting for roughly 75%+ of total company revenue. I-SEC wins multi-year contracts with airports and airlines, then staffs up to fulfill them — a thin-margin model heavily dependent on labor costs. In the U.S., the Huntleigh subsidiary provides labor-intensive ground services — including wheelchair assistance, skycap services, aircraft cleaning, baggage handling, and shuttle services — at roughly 30 airports across 20 states. Huntleigh operates on a similar contract model to I-SEC but is declining as a share of total revenue. ICTS also holds a 66.3% stake in AU10TIX, an identity verification (IDV) technology company that sells SaaS-based tools allowing businesses to automatically verify customer identities during onboarding — scanning ID documents, matching faces, and screening against watchlists. AU10TIX primarily serves financial services firms that must comply with KYC/AML requirements. Unlike the labor-services businesses, AU10TIX operates a scalable software model with higher gross margins, with revenue driven by the number of verifications processed and the breadth of modules each customer uses.