Intellinetics, Inc.

Intellinetics Reports Second Quarter and Six-Month 2026 Results

Intellinetics reported Q2 revenue of $3.9 million, down 1.6% year-over-year, as a decline in professional services offset growth in SaaS revenue. The company posted a net loss of $1.1 million, or $0.24 per share, wider than the $0.6 million loss in the prior year period, while Adjusted EBITDA swung to a loss. Management reiterated expectations for double-digit SaaS growth in fiscal 2026 and noted improvements in internal pipeline metrics despite the current top-line decline.

•2mo ago

INLX: 10-Q · periodic report

Intellinetics (INLX) reported Q2 2026 revenue of $3,946,477, down 1.6% year over year, with a net loss of $1,086,138 ($0.24 per share) that nearly doubled from $567,590 ($0.13) a year earlier. Six-month revenue fell 4.9% to $7,855,659 with a net loss of $2,263,991. The bright spot was software: SaaS revenue grew 4.2% to $1,643,416 in the quarter on new payables automation customers, and management said bookings and order intake improved, with revenue from those orders expected to be recognized in the second half of 2026 and beyond. Document Services remained the drag, with professional services revenue down 10.3% for the six months on lower scanning project activity. Liquidity is tightening: cash fell to $1.71 million, the company reported a $1.3 million working capital deficit, and operating cash flow turned negative for the six months, though it carries no debt, has a $1 million JPMorgan Chase line of credit, and has roughly $8.2 million remaining under its ATM program. Management asserts capital resources are sufficient for at least the next 12 months. Concentration risk stays elevated — the State of Michigan accounted for 32% of Q2 revenue and 52% of gross receivables — while the board roughly tripled the 2024 Equity Incentive Plan share reserve to 771,557 shares, a potential dilution overhang on a company with only about 4.5 million shares outstanding.

SEC 10-Q•2mo ago

Intellinetics Reports First Quarter Financial Results

Intellinetics reported Q1 2026 revenue of $3.9 million, an 8% decline year-over-year driven by a 14.3% drop in professional services revenue. The company posted a net loss of $1.2 million ($0.27 per share), widening from a $0.7 million loss in the prior year, with gross margins contracting by 307 basis points. Operating expenses rose 4.4% to $3.7 million, including $430,000 in non-recurring CEO transition costs associated with the recent leadership change. New CEO Alison Forsythe, in her first 90 days, reaffirmed the strategy to accelerate SaaS growth, projecting double-digit YoY SaaS growth for fiscal 2026, while acknowledging the need for improved operational execution.

•5mo ago

INLX: 10-Q · periodic report

Intellinetics reported a net loss of $1.18 million for the first quarter of 2026, widening from $0.73 million in the prior year period, as total revenues declined 8% to $3.91 million. The revenue drop was primarily driven by a 14% decrease in professional services within its Document Services segment, while its Software-as-a-Service revenue remained flat with only 0.1% growth. The company is navigating a leadership transition, incurring severance and overlap costs associated with the departure of CEO Jim DeSocio and the hiring of a successor. Despite the operational headwinds, Intellinetics strengthened its balance sheet by repaying all outstanding debt in June 2025 and securing a new $1 million secured credit line with JPMorgan Chase in February 2026. As of March 31, 2026, the company held $2.1 million in cash and had no outstanding indebtedness. It also maintains approximately $8.2 million in remaining capacity under its at-the-market equity offering program, providing potential liquidity options for future growth or working capital needs.

SEC 10-Q•5mo ago