Intellinetics Says "Based On Management's Current Plans And Assumptions, The Company Reiterated Expectations That It Will Grow Revenues On A YoY Basis For The Fiscal Year 2024, And Revised Expectations For Adjusted EBITDA To Decline Modestly Compared To 2023"
2024 Outlook
Based on management's current plans and assumptions, the Company reiterated expectations that it will grow revenues on a year-over-year basis for the fiscal year 2024, and revised expectations for Adjusted EBITDA to decline modestly compared to 2023.
"Industry response to our SaaS solutions has given us confidence that the time is right to meaningfully, but judiciously, upgrade our sales and marketing investments," commented Joe Spain, Chief Financial Officer of Intellinetics. "Historically, we have delivered reasonable growth with a relatively small sales organization. The introduction of IPAS has significantly expanded our addressable market and our potential customer base, and the growing portfolio warrants a more robust presence at trade shows as well as expanding our sales team. We are investing now to drive accelerated, profitable growth in 2025 and beyond. As such, we are now revising our guidance, and expect Adjusted EBITDA to decline compared to 2023 levels, reflecting these investments."
