Intellinetics, Inc. (NYSE American: INLX) announced its financial results for the fiscal quarter and nine months ended September 30, 2026, in a press release dated November 12, 2026. The company reported improved profitability metrics for the third quarter, narrowing its net loss and expanding its gross margin.
For the three months ended September 30, 2026, total revenue was $4,027,687, representing a 0.7% increase year-over-year. This growth was driven by a 5.0% increase in Software as a Service (SaaS) revenue to $1.7 million and a 6.2% increase in storage and retrieval revenue. These gains were partially offset by a 2.5% decrease in professional services revenue and a 6.6% decrease in software maintenance services revenue.
Gross profit increased 5.3% year-over-year to $2.7 million, resulting in a gross margin of 67.1%, an expansion of 295 basis points. Operating expenses remained essentially flat, increasing by only 0.1% to $2,948,877. Consequently, the operating loss decreased by 35.3% year-over-year to $245,484. The company reported a net loss of $239,163, or $(0.05) per share, compared to a net loss of $369,765, or $(0.08) per share, in the prior year.
On a non-GAAP basis, Adjusted EBITDA improved sequentially by approximately $516,000 to a positive $144,821 for the third quarter of 2026. The company noted that this improvement was driven by favorable project mix in professional services and organizational restructuring efforts. Cash on hand as of September 30, 2026, was approximately $2.85 million, an increase of about $1.14 million from the prior quarter.
For the nine months ended September 30, 2026, total revenue was $11,883,346, a decrease of 3.1% compared to the same period in 2025. This decline was primarily driven by a 7.8% decrease in professional services revenue and a 10.1% decrease in software maintenance services revenue. SaaS revenue for the nine months increased 3.2% to $4.9 million. The company reported a net loss of $2,503,154, or $(0.56) per share, for the nine-month period, compared to a net loss of $1,664,920, or $(0.39) per share, in the prior year.
Management provided an outlook for fiscal 2026, now expecting single-digit year-over-year SaaS revenue growth. This revision reflects the timing of customer deployments and the pace at which bookings convert into recognized revenue. The company stated that it has entered the fourth quarter with a lower cost structure following organizational actions taken during the third quarter and is seeing improving deal pipelines across both its Software and Document Services businesses.
