Intellinetics Inc (NYSE American: INLX) is a document services and software solutions company that provides digital transformation and process automation products to small-to-medium businesses and government entities. Revenue comes from two segments: Software, which generates subscription, maintenance, and implementation fees from a cloud-based document management platform, and Document Services, which earns transactional fees from converting paper and microfilm records to digital formats. Government contracts, including K-12 education, represented approximately 78% of net revenues in FY2025 and 80% in FY2024, making customer concentration a defining feature of the business. The two largest clients accounted for roughly 39% and 4% of revenues in FY2025, with the largest being a state government. The majority of software-as-a-service and maintenance revenues are annual contracts invoiced at renewal, creating a recurring revenue base with seasonality favoring the third quarter due to government fiscal calendars. Net cash provided by operating activities was $933,871 in FY2025, down from $3,858,160 in FY2024. Operating expenses increased 10.2% in FY2025, driven by investments in sales, marketing, security, and product development.

Revenue model

Recurring subscription and maintenance fees from annual software contracts, one-time implementation fees, and transactional document conversion service fees. Most SaaS and maintenance contracts are invoiced and collected at the start of each renewal period.

Products and services

Software segment: cloud-based document management platform with modules for image processing, optical character recognition, accounts payable automation, records management, workflow routing, and extended components including e-forms and email archiving. Document Services segment: paper scanning, microfilm-to-digital conversion, micrographics, large-format scanning, indexing, and long-term storage and retrieval services.

Customers and end markets

Primary end markets are state and local government entities and K-12 school districts, representing approximately 78% of net revenues in FY2025. Secondary vertical markets include construction and homebuilding. Solutions sold directly to end-users and through channel partners and resellers.

Value-chain role

Software platform provider and outsourced document conversion services operator. Sits between customers' physical document archives and their digital workflows, handling both the digitization process and the ongoing software layer for document capture, management, and compliance.

Geographic exposure

Operations include corporate offices and document services warehouses; Document Services operations located in Madison Heights. Filing does not specify revenue breakdown by geography beyond the domestic government and commercial customer base.

Source: SEC 10-K, filed 2026-03-30

Industry: Services-Prepackaged Software Peers: Microsoft Corp BIO-Key International Inc Iveda Solutions Inc Duos Technologies Group Inc QXO Inc T Stamp Inc Zerify, Inc.