The following is a summary of the Intellinetics, Inc. (INLX) Q1 2024 Earnings Call Transcript:
Financial Performance:
Intellinetics reported a total revenue of $4.5 million in Q1 2024, a 7.7% raise.
The Subscription software revenue, including both SaaS and software maintenance service revenue, increased to reach $1.76 million for the quarter.
Gross margin improved to 64.3%, due to a better revenue mix and impact from price increases.
The company recorded a net loss of $175,000 primarily due to a $398,000 equity compensation expense.
Business Progress:
Intellinetics transitioned to a SaaS-centric model, with SaaS revenue now forming 31% of the consolidated revenue.
The company reported growing interest in their Yellow Folder K-12 SaaS solution, now operating in 597 K-12 districts.
Meanwhile, the company is planning to accelerate investments in marketing their SaaS products and focus on increasing SaaS growth through promotional activities.
More details: Intellinetics IR
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