Intellinetics, Inc. - INLX STOCK NEWS

Intellinetics, Inc. (NYSE American: INLX) announced that Garden City, Michigan has digitized over 104,000 historical vital records dating back to 1928 through its Document Scanning Services. This project enhances access to records while protecting them from disasters and degradation. City Clerk Matthew Miller praised Intellinetics for their efficient handling of the project. Following the success of this initiative, Intellinetics is also assisting Garden City in digitizing building department documents. The company aims to expand its market share by addressing municipal digital transformation challenges.

Intellinetics, Inc. (NYSE American: INLX) announced that CEO James F. DeSocio will ring the closing bell at the NYSE on January 30, 2023. This event follows the company’s uplisting to the NYSE American on September 9, 2022, as part of its transition to a diversified SaaS-focused model. DeSocio stated that this ceremony will enhance Intellinetics' visibility and liquidity, benefiting its growth strategy. The bell-ringing will be broadcasted live, allowing the investment community to engage more effectively with the company. Intellinetics specializes in digital transformation solutions, enabling organizations to manage and protect their important documents.

Intellinetics has appointed Danielle Patterson as the new Division Sales Manager for its Document Scanning Services, succeeding Terry Buchanan, who is retiring. Ms. Patterson, who has over 10 years of experience in enterprise software sales, aims to enhance sales efforts and improve customer experience. The company is optimistic about growth opportunities, particularly in outsourced mailroom services at a new BPO facility. The transition is expected to maintain the company's focus on customer-centric value and service.

Intellinetics has launched an enhanced version of its K-12 YellowFolder records management product, aimed at facilitating digital transformation in schools.

The new features include improved user experience, document scanning capabilities, and collaboration tools. This upgrade is designed to boost productivity and return on investment for existing customers while attracting new K-12 districts transitioning from paper to digital records.

CEO James F. DeSocio emphasized that the focus on the K-12 market is vital for expanding the company’s market share and enhancing its product offerings.

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.