Financial Data and Key Metrics - Total revenue for Q3 2024 increased by 8% to $4.6 million compared to $4.2 million in Q3 2023 [17] - Subscription software revenue increased to $1.76 million, with SaaS growing by 8.5% and software maintenance revenue remaining flat [18] - Professional services revenue increased by 11.5% to $2.6 million, representing 56.7% of total revenue [18] - Consolidated gross margin decreased slightly by 20 basis points to 61.1% due to unfavorable projects in document conversion services [19] - SaaS margins decreased slightly to 83.7% from 84.5% but remain strong [20] - Operating expenses increased by 37.3% to $3.1 million, driven by share-based compensation, sales and marketing investments, and general administrative expenses [21] - Net loss for Q3 was $393,000 compared to net income of $209,000 in Q3 2023 [23] - Adjusted EBITDA for Q3 was $479,000, down from $709,000 in Q3 2023 [23] - Cash position at September 30, 2024, was $2.5 million, with total assets of $19 million and total liabilities of $8.6 million [24] - Debt principal outstanding was $1.3 million after $800,000 in prepayments during the quarter [25] Business Line Performance - Payables Automation Solution (IPAS) is the primary growth driver, with strong customer acceptance and additional functionality around purchase orders expected by year-end [8][12] - IPAS is being deployed in the K12 ecosystem with a beta customer already live and additional orders secured [13] - The company is actively pursuing opportunities with niche ERP providers to outperform generic solutions [14] Market Performance - The company presented at the Build Smarter Homebuilding Industry Conference, where a customer showcased strong ROI from IPAS, leading to significant interest [11] - The K12 market, while having smaller transaction volumes, offers faster implementation times compared to homebuilders [13] Strategic Direction and Industry Competition - The company is investing in scaling its business, including hiring additional sales reps, an implementations manager, and expanding marketing efforts [15] - Investments are expected to temporarily reduce EBITDA but are anticipated to bring revenue opportunities that will exceed the spend by 2025 [15] - The company is focusing on integrating IPAS with new ERP systems and expanding into new verticals [31][33] Management Commentary on Operating Environment and Future Outlook - Management is optimistic about the future, citing strong SaaS assets, a cash-generating business model, and a competitive position in growing markets [38] - The company expects to grow revenues year-over-year for fiscal 2024, with adjusted EBITDA expected to decrease modestly due to increased investments [26] Other Important Information - The company has paid out $2.7 million in acquisition earnouts since 2021 and reduced long-term debt by $3.6 million since December 2022 [9] - The company has a strong deferred revenue position, particularly due to government and K12 contracts running from July to June [24] Q&A Session Summary Question: Total number of live IPAS customers entering 2025 - The company expects to have 11 or 12 customers live by early 2025, with a significant new customer providing $250,000 in annual revenue [27] Question: Pipeline potential from the homebuilders trade show - The company had a strong presence at the trade show, with over 50 attendees at their breakout session and positive feedback from a customer testimonial [28][29] Question: Pace of implementations and functionality - The company anticipates faster implementations as they formalize their release schedule and improve tools and product knowledge [30] Question: Expansion to other ERP systems - The company is actively working on integrating IPAS with other ERP systems, including a co-marketing agreement with Software Unlimited for the K12 market [31][33] Question: SaaS revenue inflection point - The company expects a meaningful inflection point in SaaS revenue in the second half of 2025, as new deals signed in late 2024 will start recognizing revenue in early 2025 [34][35] Question: Activity in Michigan - The company expects activity in Michigan to remain consistent through the end of the year, with low expectations for government-related business until the New Year [36][37]

Core Insights - Intellinetics, Inc. reported a quarterly loss of $0.09 per share, significantly missing the Zacks Consensus Estimate of $0.01, and compared to earnings of $0.05 per share a year ago, resulting in an earnings surprise of -1,000% [1] - The company posted revenues of $4.59 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.13%, but showing an increase from $4.25 million year-over-year [2] - Intellinetics shares have increased approximately 185.2% since the beginning of the year, outperforming the S&P 500's gain of 25.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.06 on revenues of $4.26 million, and for the current fiscal year, it is -$0.07 on revenues of $18.09 million [7] - The estimate revisions trend for Intellinetics is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Internet - Content industry, to which Intellinetics belongs, is currently in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Revenue Performance - Total revenue for Q3 2024 was $4,589,625, an increase of 8.0% compared to $4,248,429 in Q3 2023[6] - SaaS revenue increased by 8.5% year-over-year, contributing significantly to the overall revenue growth[2] - Professional services revenue rose by 11.5% compared to the same period in 2023, reflecting strong demand[4] - Year-to-date revenue for 2024 reached $13,738,302, an increase of 8.2% compared to $12,693,692 for the same period in 2023[9] - Total revenues for the three months ended September 30, 2024, were $4,589,625, an increase of 8.0% compared to $4,248,429 for the same period in 2023[20] - Software as a service revenue for the three months ended September 30, 2024, was $1,403,942, up 8.5% from $1,293,745 in 2023[20] - Professional services revenue increased to $2,600,230 for the three months ended September 30, 2024, compared to $2,333,090 in 2023, reflecting an increase of 11.5%[20] - Recurring revenue grew by 2.6%, representing 58.6% of total revenue, highlighting the stability of income streams[6] Profitability and Loss - Net loss for Q3 2024 was $392,850, or $(0.09) per share, compared to a net income of $209,331, or $0.05 per share in Q3 2023[8] - Adjusted EBITDA for Q3 2024 was $479,537, down from $708,749 in Q3 2023, indicating a decline in operational profitability[8] - Net loss for the nine months ended September 30, 2024, was $492,514 compared to a net income of $457,628 in 2023[24] Operating Expenses - Total operating expenses increased by 37.3% to $3,104,065, driven by higher share-based compensation and increased sales and marketing investments[7] - Share-based compensation rose significantly to $1,185,330 from $349,073 in 2023, indicating increased employee compensation costs[24] Cash Flow and Assets - Net cash provided by operating activities increased to $3,652,417 from $1,128,314 in the previous year, representing a growth of approximately 224%[24] - Cash at the end of the period increased to $2,501,729 from $1,689,125 in 2023, showing a positive cash flow trend[24] - Total current assets increased to $5,514,625 as of September 30, 2024, from $5,004,375 as of December 31, 2023[21] - Cash balance increased to $2,501,729 as of September 30, 2024, compared to $1,215,248 as of December 31, 2023[21] Liabilities and Equity - Total liabilities decreased to $8,590,848 as of September 30, 2024, from $9,275,539 as of December 31, 2023[22] - Total stockholders' equity increased to $10,443,537 as of September 30, 2024, from $9,750,721 as of December 31, 2023[23] Future Outlook - Management expects revenue growth to continue year-over-year for the fiscal year 2024, despite anticipated declines in Adjusted EBITDA due to increased investments[10] - The company plans to continue investing in sales and marketing to drive future growth, particularly through the IPAS solution[3] Deferred Revenues - Deferred revenues increased to $3,468,109 as of September 30, 2024, compared to $2,927,808 as of December 31, 2023, indicating growth in future revenue recognition[22] - Deferred revenues increased to $540,301 from $378,061 in 2023, suggesting growth in future revenue recognition[24]

Revenue Performance - Revenues for Q3 2024 were $4,589,625, representing an 8.0% increase year over year, while revenues for the nine-month period 2024 were $13,738,302, reflecting an 8.2% growth compared to the same period in 2023[97][101]. - The Document Management segment generated revenues of $1,913,116 in Q3 2024, up from $1,871,395 in Q3 2023, and $5,592,624 for the nine-month period 2024, compared to $5,549,194 in the same period last year[111]. - The Document Conversion segment reported revenues of $2,676,509 in Q3 2024, an increase from $2,377,034 in Q3 2023, and $8,145,678 for the nine-month period 2024, compared to $7,144,498 in the prior year[111]. - Revenues for Q3 2024 increased by $341,196, or 8.0%, and for the nine-month period by $1,044,610, or 8.2%, primarily driven by software as a service and professional services in the Document Conversion segment[113]. - Software as a Service revenues rose by $110,197, or 8.5%, in Q3 2024 and by $399,591, or 10.5%, in the nine-month period compared to the same periods in 2023, mainly due to new cloud-based solution sales[114]. - Professional services revenues increased by $267,140, or 11.5%, in Q3 2024 and by $811,571, or 11.7%, in the nine-month period, driven by a significant project in Document Conversion[115]. Operating Expenses - Operating expenses (excluding cost of revenues) for the nine-month period 2024 increased by 28.2% to $8,869,062, driven primarily by share-based compensation and investments in sales and marketing[102]. - Total operating expenses for Q3 2024 were $3,104,065, up from $2,260,036 in Q3 2023, marking an increase of 38.4%[127]. - General and administrative expenses increased by $597,833, or 39.4%, in Q3 2024 compared to Q3 2023, primarily due to new share-based compensation expenses[127]. - Sales and marketing expenses rose by $206,211, or 41.6%, in Q3 2024 over Q3 2023, driven by the expansion of the sales team[129]. Profitability - The net loss for Q3 2024 was $392,850, with a basic and diluted net loss per share of $0.09, compared to a net income of $209,331 and earnings per share of $0.05 in Q3 2023[100]. - Gross profit for Q3 2024 was $2,805,854, compared to $2,605,591 in Q3 2023, with a gross profit percentage of 61.1%[121]. - Overall gross profit decreased to 61.1% in Q3 2024 from 61.3% in Q3 2023, but increased to 63.4% for the nine-month period 2024 from 61.8% in 2023[123]. - The gross profit percentage for professional services improved to 45.0% in Q3 2024 from 42.6% in Q3 2023[121]. Cash Flow - Operating cash provided was $1,933,562 in Q3 2024, compared to $1,427,945 in Q3 2023, indicating improved cash flow from operations[100]. - Net cash provided by operating activities during the nine-month period 2024 was $3,652,417, compared to $1,128,314 in the same period of 2023[139]. - Net cash used in investing activities in the nine-month period 2024 was $695,359, including $302,396 in capitalized software[140]. - As of September 30, 2024, the company had $2.5 million in cash and cash equivalents and a working capital deficit of $0.2 million[134]. Workforce and Growth - The company had 199 employees as of September 30, 2024, an increase from 165 employees a year earlier, reflecting growth in workforce to support business expansion[105]. - The company anticipates continued growth driven by the demand for software as a service (SaaS) solutions, particularly in light of the increasing adoption of remote workforce policies[92][93]. - The company is focusing on expanding its cloud-based solutions and data storage offerings to drive future growth[114]. Challenges and Risks - The company anticipates a significant adverse impact on future professional services revenues due to potential pricing renegotiations with its largest Document Conversion customer[115]. - The company experienced a higher than normal churn rate in K-12 customers affecting the growth of the YellowFolder product[114]. - Cost of Software as a Service (SaaS) increased by $28,819, or 14.4%, in Q3 2024 compared to Q3 2023, while gross margin decreased to 83.7% from 84.5%[124]. - Cost of Professional Services rose by $92,715, or 6.9%, in Q3 2024 over Q3 2023, with gross margins increasing to 45.0% from 42.6%[125]. Customer Contracts - The company secured a renewal contract with its largest customer, with an estimated net rate increase of approximately 21% effective October 1, 2023[133].

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 increased by 9% to $4.6 million compared to $4.3 million in Q2 2023 [11] - Subscription software revenue, including SaaS, rose to $1.75 million, a 7.3% increase from $1.63 million in the same period last year [12] - Professional services revenue increased by 15.8% to $2.66 million, up from $2.3 million, representing 57% of total revenue [12] - Consolidated gross margin improved by 387 basis points to 64.7% from 60.8% year-over-year [12] - Net income for Q2 was $75,000, down from $136,000 in Q2 2023, with earnings per share at $0.02 compared to $0.03 last year [13] - Adjusted EBITDA for the quarter was $698,000, compared to $651,000 in Q2 2023 [14] Business Line Data and Key Metrics Changes - SaaS revenue as a percentage of consolidated revenue remained at 30%, despite a record contribution from professional services [6] - The number of live reference accounts for the IPAS solution doubled from two to four during Q2, with additional accounts expected to go live [9] - K-12 operations now serve 619 districts, more than doubling the presence in this vertical since the acquisition of YellowFolder [9] Market Data and Key Metrics Changes - Demand for YellowFolder solutions is increasing, and the company is well-positioned across all SaaS offerings [6] - The document conversion segment continues to generate positive contribution margins, with recent investments improving operational efficiency [10] Company Strategy and Development Direction - The company is focusing on scaling its business and plans to accelerate investments in marketing its SaaS offerings [6] - The goal is to make recurring revenue the majority of total revenue, which will reduce earnings volatility and benefit shareholders [6] - The company is investing in sales personnel to expand its addressable market and enhance its sales and marketing efforts [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing strong demand for the new IPAS offering and a growing pipeline of opportunities [5] - The company expects to continue generating positive adjusted EBITDA while paying down debt and bolstering its balance sheet [15] - Management reiterated expectations for revenue growth year-over-year for fiscal year 2024, despite a modest decrease in adjusted EBITDA [15] Other Important Information - The company has prepaid $825,000 of long-term debt in the first half of 2024 and expects to have no net debt by the end of 2024 [14] - The transition of certain tasks by the largest professional services customer may reduce future revenue from the document conversion segment, but negotiations are ongoing to mitigate this impact [10] Q&A Session Summary Question: How many customers are actually live right now for IPAS? - Four customers are currently live, with three more expected to go live this quarter [17] Question: What do you expect with the live implementations entering 2025? - Management indicated that it is difficult to provide specific annualized recurring revenue run rates but expects significant growth [18][19] Question: What is the expected cadence for signing and implementing customers? - The company plans to close 15 to 18 customers this year, having already sold 11 to 12 [20] Question: What drove the increase in document conversion revenue? - The increase was attributed to improvements in operational efficiency and new business from K-12 customers [24] Question: Is there pent-up demand for document conversion services? - Yes, there is significant demand, particularly from K-12 customers needing to digitize records [25]

Company Performance - Intellinetics, Inc. reported quarterly earnings of $0.02 per share, missing the Zacks Consensus Estimate of $0.04 per share, and down from $0.03 per share a year ago, representing an earnings surprise of -50% [1] - The company posted revenues of $4.64 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.69%, and up from $4.26 million year-over-year [2] - Over the last four quarters, Intellinetics has surpassed consensus revenue estimates three times, but has only exceeded EPS estimates once [2] Stock Performance - Intellinetics shares have increased approximately 78.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 12.1% [3] - The current Zacks Rank for Intellinetics is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $4.82 million, and for the current fiscal year, it is $0.08 on revenues of $18.48 million [7] - The outlook for the Internet - Content industry, to which Intellinetics belongs, is currently in the bottom 42% of Zacks industries, which may impact the stock's performance [8]

Revenue Performance - Revenues for Q2 2024 were $4,641,593, representing a year-over-year growth of 9.0%[81] - Revenues for the six-month period 2024 totaled $9,148,677, reflecting an 8.3% increase compared to the same period in 2023[83] - Revenues increased by $383,163, or 9.0%, in Q2 2024 and by $703,414, or 8.3%, in the six-month period 2024, driven by software as a service and professional services[92] - Software as a Service revenues rose by $122,673, or 9.6%, in Q2 2024 and by $289,394, or 11.5%, in the six-month period 2024, primarily due to new cloud-based solution sales[93] - Professional services revenues increased by $364,042, or 15.8%, in Q2 2024 and by $544,431, or 11.8%, in the six-month period 2024, with a strong pipeline in Document Conversion[94] Operating Expenses - Operating expenses (excluding cost of revenues) for the six-month period 2024 were $5,764,997, an increase of 23.8% year over year[83] - Operating expenses totaled $2,830,873 in Q2 2024, an increase from $2,294,045 in Q2 2023, with general and administrative expenses rising by $463,857[106] - General and administrative expenses increased by $463,857, or 29.7%, in Q2 2024 compared to Q2 2023, and by $1,037,739, or 33.3%, in the six-month period 2024 compared to 2023[107] - Sales and marketing expenses rose by $38,136, or 7.7%, in Q2 2024 compared to Q2 2023, and increased by $246, or 0.0%, in the six-month period 2024 over 2023[108] - Depreciation and amortization increased by $34,835, or 14.5%, in Q2 2024 compared to Q2 2023, and by $71,127, or 15.2%, in the six-month period 2024 compared to 2023[109] Profitability - Net loss for the six-month period 2024 was $99,664, compared to a net income of $248,297 for the same period in 2023[85] - Gross profit margin improved to 64.7% in Q2 2024 from 60.8% in Q2 2023 and to 64.5% in the six-month period 2024 from 62.0% in the six-month period 2023[102] - Professional services gross margins increased to 49.5% in Q2 2024 from 43.1% in Q2 2023, reflecting stabilization of wages and price increases[104] Cash Flow and Financing - Operating cash generated in Q2 2024 was $1,107,089, compared to cash used of $125,274 in Q2 2023[82] - Net cash provided by operating activities was $1,718,855 in the six-month period 2024, compared to a net cash used of $299,631 in the same period of 2023[118] - Net cash used in investing activities was $398,766 in the six-month period 2024, compared to $291,101 in the same period of 2023[119] - Net cash used by financing activities was $825,000 in repayment of notes payable during the six-month period 2024, compared to $700,000 in earnout liability payments in the same period of 2023[120] - As of June 30, 2024, the company had approximately $1.7 million in cash and cash equivalents and a net working capital of $0.5 million[112] Employee and Market Outlook - As of June 30, 2024, the company employed 189 individuals, an increase from 170 employees a year prior[85] - The company anticipates continued growth driven by the demand for SaaS solutions amid economic recovery[86] - The inflationary environment has led to increased labor costs, which the company has mitigated through customer renewal rate adjustments[86] - The company anticipates potential pricing renegotiations with its largest customer, which may adversely impact future professional services revenues[94] - The company secured a renewal contract with its largest customer, with an estimated net rate increase of approximately 21% effective from October 1, 2023[113] Debt and Indebtedness - Outstanding long-term indebtedness as of June 30, 2024, consisted of the 2022 Notes with an aggregate outstanding principal balance of $2,139,500[116]

Revenue Performance - Total revenue for Q2 2024 was $4,641,593, representing a 9.0% increase compared to $4,258,430 in Q2 2023[4] - SaaS revenue increased by 9.6% year-over-year, driven by the commercialization of the IPAS solution, which doubled its live reference accounts to four[2] - Professional services revenue rose 15.8% compared to the same period in 2023, marking a record revenue quarter for Q2 2024[5] - Year-to-date revenues for the first half of 2024 were $9,148,677, an 8.3% increase from $8,445,263 in the same period of 2023[6] - Recurring revenue grew 6.6% and represented 57% of total revenue in Q2 2024[4] - Recurring revenue for Q2 2024 was $2,629,821, up 6.6% from $2,467,066 in Q2 2023[15] - Software as a service revenue for Q2 2024 was $1,400,591, a rise of 9.6% from $1,277,918 in Q2 2023[16] - Professional services revenue increased to $2,662,358 in Q2 2024, up 15.9% from $2,298,316 in Q2 2023[16] Profitability and Income - Net income for Q2 2024 was $75,050, or $0.02 per share, down from $135,734, or $0.03 per share, in Q2 2023[5] - Net income for Q2 2024 was $75,050, compared to a net income of $135,734 in Q2 2023, reflecting a decrease of approximately 44.7%[16] - Adjusted EBITDA for Q2 2024 increased by 7.1% to $698,217, compared to $651,646 in Q2 2023[5] - Adjusted EBITDA for Q2 2024 was $1,371,579, compared to $1,281,525 in Q2 2023, indicating a growth of 7.0%[16] - Management expects revenue growth for the fiscal year 2024 but has revised expectations for Adjusted EBITDA to decline modestly compared to 2023 due to increased investments[7] Expenses and Liabilities - Total operating expenses increased by 23.4% to $2,830,873, driven by higher non-cash depreciation and planned investments in sales and marketing[5] - General and administrative expenses increased to $2,025,796 in Q2 2024, compared to $1,561,939 in Q2 2023, reflecting a rise of 29.6%[16] - Interest expense decreased to $97,056 in Q2 2024 from $160,654 in Q2 2023, a reduction of 39.5%[16] - Total liabilities decreased to $8,516,362 from $9,275,539, a reduction of approximately 8.19%[17] - Total long-term liabilities decreased to $3,855,825 from $4,888,757, a decrease of approximately 21.06%[17] Cash Flow and Assets - Cash provided by operating activities was $1,718,855, a turnaround from $(299,631) in the prior year[18] - Cash at the end of the period rose to $1,680,669 from $1,130,487, marking an increase of about 48.54%[18] - Total current assets increased to $5,183,690 from $5,004,375, representing a growth of approximately 3.57%[17] - Accounts receivable, net decreased to $1,449,188 from $1,850,375, a decline of approximately 21.66%[17] - Stockholders' equity increased to $10,346,362 from $9,750,721, reflecting an increase of about 6.11%[17] Debt Management - The company plans to prepay an additional $800,000 of long-term debt before the end of August 2024, reducing debt principal to approximately $1.3 million[4] Shareholder Information - The weighted average number of common shares outstanding increased to 4,229,518 in Q2 2024 from 4,073,757 in Q2 2023[16] - The company reported a basic net income per share of $0.02 for Q2 2024, down from $0.03 in Q2 2023[16] Share-Based Compensation - Share-based compensation increased significantly to $695,305 from $233,617, an increase of approximately 197.06%[18] Capital Expenditures - Capitalization of internal use software was $(198,051), slightly lower than $(208,417) in the previous year[18]

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 increased by 7.7% to $4.5 million compared to $4.2 million in Q1 2023 [51] - Operating expenses rose by 24.2% to $2.9 million for Q1 2024, primarily due to investments in structure and timing of equity compensation expenses [10] - Loss per share was $0.04, compared to earnings per share of $0.03 last year, while adjusted EBITDA for the quarter was $673,000, slightly up from $630,000 in the same period last year [11][34] - SaaS revenue as a percentage of consolidated revenue increased to 31% in Q1 2024, up from approximately 29% in Q1 2023 [47] Business Line Data and Key Metrics Changes - Subscription software revenue, which includes SaaS and software maintenance services, increased to $1.76 million for the quarter, with SaaS growing by 13.5% [51] - Professional services revenue increased by 7.8% to $2.5 million for the quarter, maintaining 55% of total revenue [33] - The document conversion segment continues to generate positive contribution margin, although its non-recurring revenue is becoming less relevant [6][30] Market Data and Key Metrics Changes - The company signed nine new customers for its IPAS solution, with an expected combined annual revenue of $500,000, and anticipates doubling the customer count in the coming quarters [8][31] - The K-12 market has seen significant growth, with 597 districts generating substantial SaaS revenue, more than doubling the presence since the Yellow Folder acquisition [50] Company Strategy and Development Direction - The company is accelerating investment in marketing its SaaS offerings, focusing on maximizing promotional activities around SaaS rather than non-recurring revenue streams [5][7] - The management aims to evolve into a fully SaaS-centric company, with a goal of making recurring revenue the majority of total revenue [49] - The company plans to prepay additional debt, aiming for no net debt by the end of 2024, which reflects a focus on financial health [12] Management Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the strong response to the IPAS solution and the growing pipeline of opportunities [28] - The company anticipates that the organic growth opportunities may become less consistent over time, particularly in the document conversion business [30][36] - Management reiterated expectations for revenue growth year-over-year for fiscal year 2024, despite potential revenue reductions from a major customer [54] Other Important Information - Total liabilities were reported at $8.8 million, including $2.6 million in deferred revenues and $2.46 million in debt principal as of March 31 [35] - The company is increasing its sales and marketing efforts, including hiring additional sales representatives and enhancing tradeshow activities [52] Q&A Session Summary Question: What is the total number of sales reps and their structure? - The company added one sales rep, and they are structured to support both the IPAS team and K-12 operations [57][58] Question: Is the incremental spend on support or implementation staff? - Yes, the company is investing in support staff to ensure effective implementation and customer satisfaction [65][66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________to _________________________ Commission file number: 001-41495 INTELLINETICS, INC. (Exact name of registrant as specified in its charter) Ne ...