In a recent transaction, John C. Guttilla, a director at Intellinetics, Inc. (OTCQB:INLX), purchased 3,500 shares of the company's common stock. The shares were acquired at a price of $14.50 each, amounting to a total transaction value of $50,750. The purchase comes as the stock has seen a remarkable 219% gain over the past year, despite a recent 9.7% decline last week. According to InvestingPro analysis, the company maintains a GOOD financial health score. Following this acquisition, Guttilla holds a total of 21,905 shares, with the ownership being recorded as indirect, attributed to his spouse. This transaction was reported in a filing with the Securities and Exchange Commission dated December 5, 2024. With a market capitalization of $55.5 million, Intellinetics trades near its 52-week high of $16.50. InvestingPro subscribers can access detailed insider trading patterns and 10 additional ProTips for comprehensive investment analysis.
In other recent news, Intellinetics, Inc. reported a surge in its total revenue for the third quarter of 2024, marking an 8% increase and reaching $4.6 million. This growth was primarily driven by an uptick in subscription software and professional services. Despite the revenue increase, the company registered a net loss of $393,000, a shift from the net income reported in the same quarter of the previous year. CEO Jim DeSocio highlighted strategic initiatives, including the expansion of the Payables Automation Solution (IPAS) and the forging of partnerships, particularly in the K-12 sector, as key drivers for future growth. These recent developments also include an increase in professional services by 11.5% to $2.6 million, constituting 56.7% of total revenue. However, the company's adjusted EBITDA witnessed a decrease from $709,000 year-over-year to $479,000. The management remains committed to revenue growth for FY 2024, with the anticipation of a meaningful increase in SaaS revenue in the second half of the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.