INLX · Intellinetics, Inc.

Intellinetics' Q4 and full year 2025 results reflect the company's ongoing transition to a SaaS-led business model, with SaaS revenue growing 8.4% YoY in Q4 and 11.3% YoY for the full year, partially offset by 1.8% and 18.7% YoY declines in professional services revenue in Q4 and full year 2025 respectively. Total full year revenue declined 8% YoY to $16.6 million, driven by lower professional services activity, while gross margins expanded 295 basis points for the full year due to favorable revenue mix shift to higher-margin SaaS offerings. Net loss widened significantly YoY for both periods, driven by 11.2% higher Q4 operating expenses and 10.4% higher full year operating expenses, primarily from increased sales and marketing investments to support go-to-market expansion for the company's IntelliCloud platform. Newly appointed CEO Alison Forsythe noted the company's strong foundational assets including its established SaaS customer base and differentiated technology, with 2026 priorities focused on accelerating SaaS revenue growth, improving operational discipline, and driving greater consistency across its software and document management businesses. Management's only formal 2026 guidance is an expectation of year-over-year SaaS revenue growth, as the company aligns investments and operating priorities around recurring software revenue expansion to drive long-term margin expansion and sustainable shareholder value.