INLXHIGH SIGNALFINANCIAL10-K

INLX experienced severe operational deterioration with operating income plummeting 931% to -$1.8M and operating cash flow collapsing 76% to $934K despite improved cash position.

The dramatic swing from manageable operating losses to significant operational bleeding signals fundamental business execution problems that could threaten viability. While the company doubled its cash position and reduced total liabilities, the massive deterioration in core operations far outweighs these positives and suggests potential liquidity challenges ahead if operational performance doesn't rapidly improve.

Comparing 2026-03-30 vs 2025-03-24View on EDGAR →
FINANCIAL ANALYSIS

INLX's financial profile shows a company in operational distress despite some balance sheet improvements. Operating losses exploded nearly 10-fold to -$1.8M while operating cash flow collapsed 76% to under $1M, indicating severe operational execution issues. Although the company more than doubled its cash reserves to $2.5M and reduced total liabilities by 26%, the dramatic deterioration in core business performance creates significant going-concern risks that overshadow the improved liquidity position.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
-930.8%
-$174K→-$1.8M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Net Income
P&L
-242.9%
-$546K→-$1.9M

Net income declined 242.9% — review whether driven by operations, interest costs, or non-recurring items.

Cash & Equivalents
Balance Sheet
+104.8%
$1.2M→$2.5M

Cash position surged 104.8% — strong cash generation or capital raise providing significant financial cushion.

Interest Expense
P&L
-77.4%
$373K→$84K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Operating Cash Flow
Cash Flow
-75.8%
$3.9M→$934K

Operating cash flow fell 75.8% — earnings quality concerns; investigate working capital changes and non-cash items.

Inventory
Balance Sheet
+72.3%
$101K→$173K

Inventory surged 72.3% — growing significantly faster than typical sales pace; potential demand softening or supply chain overcorrection.

Total Debt
Balance Sheet
+67.2%
$2.0M→$3.3M

Debt increased 67.2% — substantial leverage increase; assess whether deployed for growth or covering losses.

R&D Expense
P&L
-37.3%
$467K→$293K

R&D spending cut 37.3% — could signal cost discipline or concerning reduction in innovation investment.

Total Liabilities
Balance Sheet
-25.5%
$7.9M→$5.9M

Liabilities reduced 25.5% — deleveraging improves balance sheet strength and financial flexibility.

Current Liabilities
Balance Sheet
-23.4%
$6.6M→$5.1M

Current liabilities reduced — improved short-term financial position and working capital health.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-24
ADDED
4,474,272 shares of common stock, par value $ 0.001 per share, were outstanding as of March 26, 2026.
As used in this Annual Report, unless the context indicates otherwise: the terms Intellinetics, Company, the company, us, we, our, and similar terms refer to Intellinetics, Inc., a Nevada corporation, and its subsidiaries; Intellinetics Ohio refers to Intellinetics, Inc., an Ohio corporation and a wholly-owned subsidiary of Intellinetics; Graphic Sciences refers to Graphic Sciences, Inc., a Michigan corporation and a wholly-owned subsidiary of Intellinetics; iii PART I ITEM 1.
Our digital transformation products and services are provided through two reporting segments: Software and Document Services.
Our Software segment, previously referred to as Document Management, consists primarily of solutions involving our software platform, allowing customers to capture and manage their documents across operations such as scanned hard-copy documents and digital documents including those from Microsoft Office 365, digital images, audio, video and emails.
Our Document Services segment, previously referred to as Document Conversion, provides assistance to customers as a part of their overall document strategy to convert documents from one medium to another, predominantly paper to digital, including migration to our software solutions, as well as micrographics conversions and long-term storage and retrieval services.
+7 more — sign up free →
REMOVED
4,259,276 shares of common stock, par value $ 0.001 per share, were outstanding as of March 19, 2025.
Our digital transformation products and services are provided through two reporting segments: Document Management and Document Conversion.
Our Document Management segment consists primarily of solutions involving our software platform, allowing customers to capture and manage their documents across operations such as scanned hard-copy documents and digital documents including those from Microsoft Office 365, digital images, audio, video and emails.
Our Document Conversion segment provides assistance to customers as a part of their overall document strategy to convert documents from one medium to another, predominantly paper to digital, including migration to our software solutions, as well as micrographics conversions and long-term storage and retrieval services.
Solutions are sold both directly to end-users and through resellers.
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →