Intellinetics Q1 revenue up 55% YoY to $4.19M; net income positive, SaaS revenue doubles

INTELLINETICS, INC.

2023-Q1 EPS reported $0.03 revenue$4,186,833

Total revenue $4,186,833, up 55% from $2,703,512 in Q1 2022.
SaaS revenue $1,238,432, up 187% from $431,221; now 30% of total revenue (16% in prior year).
Net income $112,563 ($0.03 diluted EPS) vs net loss of $20,126 ($0.01 loss) a year ago.
Adjusted EBITDA $629,879, up 48% from $424,492 in Q1 2022.
Outlook: expects continued year-over-year revenue and Adjusted EBITDA growth in 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTELLINETICS, INC. reported the three months ended March 31, 2023 results: revenue $4,186,833, net income $112,563, EPS $0.03 per fully diluted share.

Period: the three months ended March 31, 2023
Revenue: $4,186,833
Net income: $112,563
EPS: $0.03 per fully diluted share
Result: reported results

Exact text from the filing

Revenues for the three months ended March 31, 2023 were $4,186,833 as compared with $2,703,512 for the same period in 2022. The 55% increase was largely driven by our acquisition of Yellow Folder in April 2022 combined with strong organic professional services growth in our Document Conversion segment. In addition to our acquisition growth and professional services growth, our SaaS and software maintenance revenues continued to grow. Intellinetics reported net income of $112,563 for the three months ended March 31, 2023 compared to net loss of $20,126 for the same period in 2022, representing an improvement of $132,689. Basic and diluted net income per share for the three months ended March 31, 2023 was $0.03.

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Source: SEC EDGAR

accession 0001493152-23-017333

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