Intellinetics revenue up 22% in Q3
Digital transformation solutions provider Intellinetics reported a 22% year-on-year revenue increase in Q3 to $3.9 million.
In the report, the firm said that the increase was primarily driven by their acquisition of the digital file cabinet Yellow Folder last April 2022, as well as their SaaS and software maintenance services.
Intellinetics reported a net income of $217,536, or $0.05 per diluted share, from June to September 2022, compared to a net income of $296,437 for the same period in 2021. The third quarter of last year included lower interest expenses.
Adjusted EBITDA increased 48% to $799,359, compared to $538,488 from the same period in 2021.
Intellinetics President and CEO James F. DeSocio said, “Our transition to a diversified, SaaS-focused model is accelerating and our Adjusted EBITDA is expanding.
“We have built a sustainable, cash-generating business with a growing base of recurring revenue, creating significant visibility. With more than 500 customers in the K-12 education market alone, and durable, secular catalysts driving demand for our digital transformation capabilities, we are increasingly well-positioned for success,” DeSocio added.
