Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $8.25
Time Horizon: 12 Months
Rating Established: February 26, 2018
Price When Established: $0.15
Most Recent Report: April 12, 2022
Price When Issued: $6.08
Intellinetics Reports 1Q22 Results
On May 16, 2022, Intellinetics Inc. reported 1Q22 results for the three-months ended March 31, 2022.
INLX reported a 1Q22 net loss of $20,000 or ($0.01) per share, on revenue of $2.7 million. In the year-ago period the company reported net income of $843,000 or $0.27 per share, on revenue of $2.6 million.
The net loss in the current period included $70,000 acquisition transaction charges. We estimate, excluding that charge net income of approximately $50,000 or $0.02 per share.
Net income in the year-ago period included an $845,000 gain on extinguishment compared none in the current period. We estimate excluding the gain on extinguishment of debt in 1Q21 the company would have reported a net loss of approximately $2,000 or breakeven per share.
Taglich Brothers estimated 1Q22 revenues of $2.6 million and a net loss of $15,000 or breakeven per share.
Intellinetics Inc., headquartered in Columbus, OH, has developed IntelliCloud™ a software solutions platform enabling customers to capture and manage documents across its operations. IntelliCloud is a secure document management solution for organizations that have critical document requirements such as for audit trails and credentialing. The company’s primary targets are organization and governmental agencies within the health and human services and education (K – 12) markets.