Intellinetics, Inc.

intellinetics.com

What Do They Do?

Sells document-management and payables-automation software, and converts and stores documents for businesses and government agencies.

How Do They Make Money?

Professional-services customers pay for scanning, conversion, consulting and related work as services are delivered. SaaS is billed monthly or annually, maintenance runs over the contract term, and storage is generally billed monthly.

revenue

Segment	Share	How money arrives
Software As A Service Recurring	38% FY2022: 29%	Recurring
Software Maintenance Services Recurring	7.7% FY2022: 9.9%	Recurring
Professional Services Sold outright	49% FY2022: 52%	Sold outright
Storage and Retrieval Services Recurring	5.0%	Recurring

Who Are Their Customers?

Schools and other public agencies, regulated organizations, and businesses buy software or document conversion and storage, directly or through resellers and other channel partners.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 40% from one customer

Do Revenues Turn Into Profits?

Not on paper. It lost $1.9M in FY2025, but brought in more cash than it spent: $579.5K of free cash flow.

Operating income, FY2025

−11% of revenue

▲ +931% (Loss) vs FY2024 (−$173.5K, −1%)

Net income, FY2025

−11% of revenue

▲ +243% (Loss) vs FY2024 (−$546.2K, −3%)

Free cash flow, FY2025

3% of revenue

▼ −83% vs FY2024 ($3.4M, 19%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −2%; vs $4M in Q2 FY2025
Net income: ▲ +91% (Loss); vs −$567.6K in Q2 FY2025

Professional Services share of revenue vs 47.4% in Q2 FY2025

Sep 1, 2026 CEO Matthew Chretien announced his retirement He also plans to resign as Secretary and Chief Strategy Officer.
Aug 12, 2026 Company expects double-digit SaaS growth Management said it currently expects double-digit year-over-year SaaS growth for fiscal 2026.

Growing. Revenue grew 45% in 4 years, from $11.5M in FY2021 to $16.6M in FY2025, about 10% a year.

Revenue over time

Software As A Service Software Maintenance Services Professional Services Storage and Retrieval Services Sale of Software Storageand Retrieval Services

$20M$10M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Stampli, Nexus, DocuWare, M-files, On-Base, FileBound, Frontline, Laserfiche, Square 9, Harvest Technology Group, and Iron Mountain

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