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COLUMBUS, Ohio - A leading Canadian homebuilder has signed a $100,000 contract to implement Intellinetics, Inc.’s (NYSE American: INLX) IntelliCloud Payables Automation System, according to a company press release. The deal represents a significant opportunity for the $60.2 million market cap company, which has seen its stock surge 66% over the past year, according to InvestingPro data.
The deal, scheduled to go live by July 31, 2025, will generate over $41,000 in annual SaaS revenue for Intellinetics, adding to its current annual revenue of $17.76 million. The contract was secured based on the company’s Automated Utility Invoice Coding module, which was introduced to the market in March 2025. With a healthy gross margin of 64.73%, the company maintains strong pricing power in its market segment.
The new module uses AI technology to streamline utility bill processing by automatically identifying lot numbers, determining property status, and assigning accurate coding for various utilities including gas, electric, water, HOA fees, and property taxes.
"Another new customer told us they are already processing over 15,000 utility invoices a month through the system and over 80% are touchless," said James F. DeSocio, President & CEO at Intellinetics.
The system aims to address common challenges in utility invoice processing such as high invoice volumes, complex allocations, manual data entry risks, and information silos that can lead to errors like double payments.
Despite economic headwinds affecting the homebuilding industry, Intellinetics reports continued demand for its payables automation solutions, which the company attributes to the cost and time savings the technology provides to customers.
Intellinetics, headquartered in Columbus, Ohio, specializes in digital transformation solutions including document management, business process outsourcing, and scanning services for regulated industries and businesses transitioning from paper-based processes.
The information in this article is based on a press release statement from Intellinetics, Inc. For deeper insights into INLX’s financials and growth prospects, including additional ProTips and comprehensive valuation metrics, visit InvestingPro, where you’ll find detailed analysis in our Pro Research Report, part of our coverage of over 1,400 US stocks.
In other recent news, Intellinetics, Inc. reported a significant earnings miss for the first quarter of 2025, with earnings per share at -$0.17, falling short of the forecasted -$0.07. Revenue also missed expectations, coming in at $4.25 million compared to a projected $4.6 million, marking a 5.8% decrease year-over-year. Despite these setbacks, the company noted growth in its SaaS revenue by 9.8% and an improvement in gross margin to 67.6%. In a separate development, Intellinetics secured a record $40 million contract for document scanning and micrographic conversion services, set to run from June 2025 through May 2030. This contract is the largest in the company’s history and was awarded after a competitive evaluation process. Additionally, Intellinetics continues to invest in its payables automation solution, which CEO Jim DiSoccio described as a transformative opportunity for the company. The firm has also been expanding its market presence with new orders and partnerships, including a significant project queue of $3 million for professional services.
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