- Intellinetics, Inc. (INLX, Financial) reports a 5.8% decline in total revenue in Q1 2025 compared to Q1 2024.
- SaaS revenue grew by 9.8% as the company pushes its digital transformation solutions.
- Net loss of $727,565 with increased investments in sales and marketing affecting profitability.
Intellinetics, Inc. (INLX), a provider of digital transformation solutions, announced its financial results for the first quarter of 2025. The company reported a total revenue decline of 5.8% to $4,247,345 compared to $4,507,084 in the same period in 2024.
Despite the overall revenue decline, Intellinetics' Software as a Service (SaaS) revenue grew by 9.8%, a key highlight driven by the launch of new features such as the initial Purchase Order feature set for their Payables Automation dashboard and Capture as a Service solution. This growth, however, was offset by a 13.2% decrease in professional services revenue.
Net losses for the quarter increased to $727,565, or $0.17 per share, compared to $174,714, or $0.04 per share, in the first quarter of 2024. This increase was attributed to higher expenses associated with initiatives to scale the company's SaaS operations, including investments in sales, marketing, and IT infrastructure.
Adjusted EBITDA for the quarter was $76,589, down from $673,362 year-on-year. The company ended the quarter with approximately $2.1 million in cash.
Looking forward, Intellinetics remains optimistic about its SaaS growth trajectory, expecting to continue scaling its offerings and partnerships in niche Enterprise Resource Planning (ERP) markets. The company's focus on penetrating strategic partner markets is anticipated to drive further SaaS revenue growth.
Investors and interested parties can access a live webcast of the conference call discussing these results at 4:30 p.m. ET on the Intellinetics website.
