The following is a summary of the Intellinetics, Inc. (INLX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Intellinetics saw an over 20% growth in annual revenue for 2023, with SaaS revenue adding nearly a 28 % increase.

• Earnings per share touched $0.13 per fully diluted share, marking a significant upswing from last year's penny per share.

• The company recorded a net income of $519,000, showcasing an impressive rise from $24,000 in 2022.

• The record adjusted EBITDA was at $2.7 million, indicating a near 14% growth.

• Q4 revenue stood at $4.2 million with recurring revenue at $2.6 million, and a net income of $62,000.

Business Progress:

• The company effectively integrated past acquisitions and grew its recurring SaaS revenue significantly.

• Intellinetics expanded revenue streams with the introduction of the Intellinetics Payable Automation Solution (IPAS).

• Four customers have already integrated IPAS with five more contracts signed for the first half of 2024.

• These nine customers represent an estimated annual recurring revenue of $500,000, expected to double in the coming quarters.

• In 2023, Intellinetics closed 353 contracts, totaling a value of $7.7 million, indicating robust business progress.

• They plan investment in sales and marketing capabilities, majorly to accelerate IPAS.

• Intellinetics' core business remains resilient, with ongoing demand set to drive further growth in 2024, in addition to IPAS revenue.

• They had 591 K-12 districts generating significant SaaS revenue, illustrating a wide-spread and diverse client footprint.

More details: Intellinetics IR

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