Intellinetics Stock Price, News & Analysis

Intellinetics, Inc. (NYSE American: INLX) has elected John Guttilla to its Board of Directors as an Independent Director. Guttilla brings over 35 years of experience in tax consulting and auditing, including roles in public companies. His expertise will support Intellinetics in enhancing its corporate governance and financial reporting. The company is experiencing a growth phase, with a focus on SaaS and recurring revenue models, and is positioned for further value creation. The board now consists of seven directors, with Guttilla chairing the audit committee.

Intellinetics, NYSE American: INLX, reported strong financial results for Q3 and the nine months ending September 30, 2022, driven by a 244% increase in SaaS revenue. Total revenue rose 22% to $3.9 million in Q3. Despite a net income decline to $217,536, adjusted EBITDA increased by 48% to $799,359. Year-to-date, total revenue reached $10 million, a 14% rise, with a net loss of $176,757 attributed to higher transaction costs post-acquisition of Yellow Folder in April 2022. Cash reserves improved to $3.8 million, supporting ongoing growth.

Intellinetics, Inc. (NYSE American: INLX) will announce its third-quarter financial results for the period ending September 30, 2022, on November 14, 2022, after market close. A live webcast discussing the results will take place at 4:30 p.m. ET. Interested parties can join via the company's website or by phone. Intellinetics specializes in digital transformation solutions, offering services that include document management and business process outsourcing, especially in regulated industries. For more details, visit Intellinetics News.

Intellinetics (NYSE American: INLX) announced the launch of its IntelliCloud™ Payables Automation System at the Build Smarter 2022 Conference in Chicago, from November 7-9, 2022. This new product automates the entire accounts payable process, fully integrating with Constellation HomeBuilder Systems’ NEWSTAR ERP software. The system leverages artificial intelligence and machine learning to reduce manual steps in workflows and approvals. Attendees can learn about the system's benefits, including cost reductions and improved compliance, from industry experts presenting at the event.

Intellinetics (NYSE American: INLX) announced the launch of its new Employee Onboarding Automation Solution at the Ohio Provider Resource Association (OPRA) Fall Conference on October 27, 2022. The solution enhances IntelliCloud Document Management Platform capabilities by replacing traditional paper forms with a digital format that streamlines onboarding processes. This innovation aims to boost data accuracy, improve employee retention, and expedite new hire productivity. The CEO emphasized the importance of automation amid a national workforce crisis, particularly affecting the I/DD community.

Intellinetics, Inc. (OTCQB: INLX) announced its common stock will transition to the NYSE American, effective September 9, 2022. This uplist represents a significant milestone, enhancing the company's visibility and liquidity in the investor community. President & CEO James F. DeSocio emphasized this move's potential to deliver greater long-term value for shareholders. Intellinetics offers digital transformation solutions, aiming to support highly regulated industries while enabling efficient document management and compliance.

Intellinetics, Inc. (OTCQB: INLX) announced the formation of a new K-12 Division dedicated to enhancing digital transformation in schools. This division will offer tailored solutions to help school districts transition from paper to digital records management. The initiative follows the acquisition of Yellow Folder, positioning Intellinetics as a leader in K-12 digital records management with over 530 school district clients nationwide. The division will focus on cloud-based records management, digital forms, document conversion services, and strategic partnerships to support K-12 educational needs.

Intellinetics, Inc. (OTCQB: INLX) has announced the cancellation of its 2022 Annual Meeting of Stockholders originally scheduled for August 17, 2022. This decision was made due to the anticipated lack of quorum, as fewer than the required majority of shares were returned by proxy. The company plans to reschedule this meeting, retaining a proxy solicitation firm to assist in ensuring adequate attendance and participation. Revised proxy materials will be distributed once new dates are confirmed.

Intellinetics, Inc. (OTCQB: INLX) reported Q2 2022 results, showcasing a 17% revenue increase to $3.42 million, driven by the Yellow Folder acquisition. Notably, SaaS revenue surged 208% compared to Q2 2021. However, the company recorded a net loss of $374,167 due to transaction costs and increased interest expenses, contrasting with a net income of $192,447 in the previous year. For the first half of 2022, total revenue grew 10% year-over-year, but net loss reached $394,293, influenced by a prior year's one-time gain from PPP loan forgiveness.