The company has aggressively reduced total debt from $5.7M in 2023Q4 to $1.4M in 2026Q1, though this defensive deleveraging leaves a current ratio of only 0.90.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Total Current Assets | 4.71M | 5.23M | 5.47M | 5M | 4.89M | 3.68M | 3.47M | 872.13K | 1.39M | 1.58M | 1.1M | 1.38M | 328.81K | 443.87K | 418.68K | 68 | 1.32K | 305 | 128 | 2.63K | 2.76K | 3.2K | 3.08K |
| Cash & Short-Term Investments | 2.08M | 2.53M | 2.49M | 1.22M | 2.7M | 1.75M | 1.91M | 404.17K | 1.09M | 1.13M | 689.95K | 1.12M | 184.08K | 260.56K | 46.24K | 68 | 1.32K | 305 | 128 | 2.63K | 2.76K | 3.2K | 3.08K |
| Cash Only | 2.08M | 2.53M | 2.49M | 1.22M | 2.7M | 1.75M | 1.91M | 404.17K | 1.09M | 1.13M | 689.95K | 1.12M | 184.08K | 260.56K | 46.24K | 68 | 1.32K | 305 | 128 | 2.63K | 2.76K | 3.2K | 3.08K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.02M | 2.15M | 2.55M | 3.31M | 1.8M | 1.7M | 1.35M | 352.94K | 135.74K | 295.81K | 259.5K | 217.03K | 99.06K | 144.07K | 332.41K | 335.45K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 43.24 | 47.31 | 51.61 | 71.58 | 46.82 | 54.12 | 59.58 | 50.8 | 20.8 | 41.16 | 36.41 | 33.9 | 24.33 | 33.84 | 44.36 | - | - | - | - | - | - | - | - |
| Inventory | 130.43K | 0 | 100.56K | 110.27K | 73.22K | 76.69K | 79.78K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 6.18 | - | 5.65 | 5.52 | 4.58 | 6.2 | 8.93 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 487.84K | 551.6K | 337.04K | 367.48K | 325.47K | 0 | 0 | 4.18K | 162.5K | 162.45K | 150.62K | 46.52K | 45.67K | 39.24K | 40.03K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 11.75M | 12.08M | 13.1M | 14.02M | 15.05M | 8.28M | 6.88M | 114.44K | 19.41K | 25.04K | 29.07K | 37.14K | 56.48K | 82.15K | 95.37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Property, Plant & Equipment | 2.36M | 2.65M | 3.23M | 3.68M | 4.42M | 4.93M | 3.34M | 104.16K | 9.13K | 14.76K | 18.78K | 22.6K | 28.67K | 53.23K | 58.13K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 5.95x | 6.25x | 5.58x | 4.59x | 3.17x | 2.32x | 2.47x | 24.35x | 260.81x | 177.74x | 138.52x | 103.39x | 51.82x | 29.20x | 47.05x | - | - | - | - | - | - | - | - |
| Goodwill | 5.79M | 5.79M | 5.79M | 5.79M | 5.79M | 2.32M | 2.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.8M | 2.91M | 3.4M | 3.91M | 4.42M | 968.5K | 1.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 798.59K | 727.81K | 685.08K | 645.76K | 417.46K | 53.09K | 31.28K | 10.28K | 10.28K | 10.28K | 10.29K | 14.54K | 27.81K | 28.93K | 37.24K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 16.46M | 17.31M | 18.57M | 19.03M | 19.94M | 11.96M | 10.34M | 986.57K | 1.41M | 1.61M | 1.13M | 1.42M | 385.29K | 526.02K | 514.04K | 68 | 1.32K | 305 | 128 | 2.63K | 2.76K | 3.2K | 3.08K |
| Asset Turnover | 0.94x | 0.96x | 0.97x | 0.89x | 0.70x | 0.96x | 0.80x | 2.57x | 1.69x | 1.63x | 2.30x | 1.65x | 3.86x | 2.95x | 5.32x | - | - | - | - | - | - | - | - |
| Asset Growth % | -29.73% | -6.83% | -2.37% | -4.6% | 66.72% | 15.64% | 948.54% | -29.85% | -12.61% | 42.52% | -20.36% | 267.99% | -26.75% | 2.33% | 755845.59% | -94.84% | 332.13% | 138.28% | -95.14% | -4.5% | -13.87% | 3.89% | - |
| Total Current Liabilities | 5.24M | 5.06M | 6.6M | 4.39M | 6M | 3.56M | 3.62M | 7.31M | 1.24M | 2.68M | 2.05M | 2.17M | 3.7M | 1.7M | 2.5M | 81.83K | 67.27K | 59.99K | 54.99K | 51.59K | 49.59K | 40.99K | 31.53K |
| Accounts Payable | 528.02K | 284.68K | 310.62K | 194.45K | 370.3K | 181.52K | 141.82K | 160.91K | 308.12K | 405.15K | 312.39K | 386.26K | 615.3K | 500.32K | 810.09K | 389.08K | 31.27K | 31K | 54.99K | 51.59K | 49.59K | 40.99K | 5K |
| Days Payables Outstanding | 24.98 | 18.45 | 17.46 | 9.73 | 23.18 | 14.67 | 15.87 | 103.43 | 151.49 | 194.46 | 160.64 | 292.35 | 746.07 | 312.04 | 301.25 | - | - | 2.35K | - | - | - | - | - |
| Short-Term Debt | 662.21K | 0 | 1.3M | 0 | 936.97K | 0 | 580.64K | 4.85M | 46.81K | 1.29M | 398.8K | 494.38K | 2.31M | 711.27K | 765.53K | 72K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 9.91M | 3.37M | 3.41M | 2.93M | 2.75M | 1.19M | 996.13K | 754.07K | 723.62K | 703.97K | 665.46K | 638.19K | 564K | 482.43K | 571.27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 257.48K | 610.36K | 493.7K | 337.88K | 1.11M | 1.4M | 1.25M | 1.38M | 0 | 66.05K | 454.81K | 440.6K | 341.83K | 289.77K | 253.64K | -384.91K | 36K | 29K | 0 | 0 | 0 | 0 | 26.53K |
| Current Ratio | 0.90x | 1.03x | 0.83x | 1.14x | 0.82x | 1.04x | 0.96x | 0.12x | 1.12x | 0.59x | 0.54x | 0.63x | 0.09x | 0.26x | 0.17x | 0.00x | 0.02x | 0.01x | 0.00x | 0.05x | 0.06x | 0.08x | 0.10x |
| Quick Ratio | 0.87x | 1.03x | 0.81x | 1.12x | 0.80x | 1.01x | 0.93x | 0.12x | 1.12x | 0.59x | 0.54x | 0.63x | 0.09x | 0.26x | 0.17x | 0.00x | 0.02x | 0.01x | 0.00x | 0.05x | 0.06x | 0.08x | 0.10x |
| Cash Conversion Cycle | 24.44 | - | 39.8 | 67.36 | 28.22 | 45.65 | 52.64 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 753.54K | 865.44K | 1.35M | 4.89M | 5.37M | 5.74M | 5.57M | 53.32K | 4.69M | 1.56M | 1.04M | 1.06M | 938.11K | 1.67M | 2.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 2.77M | 2.61M | 1.75M | 1.8M | 0 | 4.19M | 1.53M | 885.23K | 913.87K | 761.09K | 1.34M | 1.88M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 3.51M | 865.44K | 1.35M | 2.12M | 2.76M | 3.32M | 2.2M | 53.32K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 671.86K | 1.57M | 0 | 502.3K | 30K | 159.19K | 148.93K | 177.01K | 333.57K | 423.21K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.99M | 5.92M | 7.94M | 9.28M | 11.37M | 9.3M | 9.19M | 7.36M | 5.94M | 4.24M | 3.09M | 3.24M | 4.64M | 3.37M | 4.8M | 81.83K | 67.27K | 59.99K | 54.99K | 51.59K | 49.59K | 40.99K | 31.53K |
| Total Debt | 1.42M | 1.66M | 3.55M | 5.65M | 7.02M | 5.69M | 5.1M | 4.96M | 4.24M | 2.83M | 1.28M | 1.41M | 1.3M | 2.05M | 2.18M | 72K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -660.38K | -873.03K | 1.07M | 4.44M | 4.33M | 3.93M | 3.19M | 4.55M | 3.15M | 1.7M | 594.09K | 291.13K | 1.12M | 1.79M | 2.13M | 71.93K | -1.32K | -305 | -128 | -2.63K | -2.76K | -3.2K | -3.08K |
| Debt / Equity | 0.14x | 0.15x | 0.33x | 0.58x | 0.82x | 2.14x | 4.42x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -1.43x | - | 3.46x | 2.71x | 2.67x | 2.64x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.67x | - | 1.04x | 2.13x | 1.64x | 1.82x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -49.28x | -21.21x | -0.47x | 1.88x | 1.03x | 4.00x | -2.75x | -1.18x | -1.70x | -1.24x | -6.64x | -0.66x | -5.57x | -10.71x | -5.59x | -223.49x | - | - | - | - | - | - | - |
| Total Equity | 10.47M | 11.38M | 10.63M | 9.75M | 8.57M | 2.66M | 1.15M | -6.38M | -4.53M | -2.64M | -1.96M | -1.82M | -4.25M | -2.84M | -4.28M | -81.76K | -65.95K | -59.69K | -54.87K | -48.96K | -46.84K | -37.79K | -28.45K |
| Equity Growth % | 29.41% | 7.08% | 9.04% | 13.79% | 221.93% | 130.65% | 118.1% | -40.74% | -71.93% | -34.33% | -7.82% | 57.23% | -49.72% | 33.67% | -5138.71% | -23.97% | -10.49% | -8.79% | -12.06% | -4.53% | -23.93% | -32.85% | - |
| Book Value per Share | 2.38 | 2.65 | 2.53 | 2.10 | 1.99 | 0.86 | 0.48 | -17.22 | -12.78 | -7.58 | -5.89 | -6.10 | -31.02 | -21.96 | -45.61 | -1.26 | -5.07 | -4.59 | -4.22 | -3.76 | -2.56 | -2.06 | -1.55 |
| Total Shareholders' Equity | 10.47M | 11.38M | 10.63M | 9.75M | 8.57M | 2.66M | 1.15M | -6.38M | -4.53M | -2.64M | -1.96M | -1.82M | -4.25M | -2.84M | -4.28M | -81.76K | -65.95K | -59.69K | -54.87K | -48.96K | -46.84K | -37.79K | -28.45K |
| Common Stock | 4.47K | 4.48K | 4.25K | 4.11K | 4.07K | 2.82K | 2.81K | 31.53K | 30.73K | 30.43K | 26.82K | 21.91K | 14.12K | 54.36K | 36.49K | 4.56K | 1.14K | 1.14K | 1.14K | 570 | 802 | 802 | 802 |
| Retained Earnings | -24.69M | -23.51M | -21.64M | -21.1M | -21.61M | -21.64M | -23M | -20.8M | -18.66M | -16.31M | -14.95M | -13.38M | -9.46M | -7.81M | -5.67M | -118.11K | -102.3K | -96.03K | -91.21K | -85.31K | -75.18K | -66.14K | -56.79K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -549.06K | -541.9K | -600.87K | -590.18K | -578.56K | -558.67K | -532.21K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Public sector budget dependency
As reported in recent financial filings, Intellinetics' total assets have declined from $19.0M in 2023Q4 to $16.5M in 2026Q1, signaling a shrinking resource base that reflects the company's ongoing struggle to maintain scale while navigating a period of persistent revenue contraction and operational losses.
The consistent decline in total assets suggests that the company is failing to replace its asset base through organic growth or reinvestment. This trajectory warrants concern as it indicates that the firm's footprint is narrowing rather than expanding, potentially limiting its competitive reach in the K-12 and municipal sectors.
Based on the provided balance sheet data, Intellinetics has reduced its total debt from $5.7M in 2023Q4 to $1.4M in 2026Q1, a move that appears to be a defensive measure to preserve liquidity rather than a strategic optimization of the capital structure.
While the reduction in debt-to-equity from 0.58 to 0.14 is mathematically positive, it likely reflects the company's limited access to capital markets and the necessity of paying down obligations to avoid insolvency. Investors should monitor whether this deleveraging limits the firm's ability to fund future growth initiatives or necessary technology upgrades.
According to the 2026Q1 balance sheet, the current ratio stands at 0.90, which, as reported in financial statements, highlights a precarious liquidity position where current assets are insufficient to cover short-term liabilities, leaving the firm with minimal buffer against unexpected operational shocks or project delays.
The fluctuation in cash reserves, which dropped to $2.1M in 2026Q1 from a peak of $3.2M in 2025Q3, suggests that the company is burning through its remaining capital to fund ongoing operations. This tight liquidity profile may force management to prioritize short-term cash preservation over long-term strategic investments.
As evidenced by the 2026Q1 data, goodwill remains stagnant at $5.8M, representing approximately 35% of total assets, which suggests that a significant portion of the company's book value is tied to intangible assets that may be vulnerable to impairment if revenue trends do not improve.
The reliance on goodwill to support the balance sheet is concerning given the company's negative operating margins and revenue contraction. If the firm cannot demonstrate a path to profitability, the carrying value of these intangibles may require a write-down, which would further erode the already thin equity base.
Quick answers to the most common questions about buying INLX stock.
As of 2025, Intellinetics, Inc. (INLX) had total assets of $17.3M including $5.2M in current assets.
Intellinetics, Inc. (INLX) carries total debt of $1.7M, offset by $2.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Intellinetics, Inc. (INLX) has total shareholders' equity (book value) of $11.4M ($2.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Intellinetics, Inc. (INLX) reported a current ratio of 1.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.