Revenue growth is solid (+15%) and operating losses are narrowing, but the GAAP net loss and negative operating cash flow vs prior-year positive cash flow are headwinds. With no guidance provided and the stock buyback plan exhausted, watch for Q2 2026 results to see if operating leverage continues to improve and cash flow turns positive again.
Price Chart
Executive Summary
IPM reported Q1 2026 revenue of $6.35M (+15.2% YoY) and a GAAP net loss of $0.7M vs net income of $0.8M in Q1 2025 (due to absence of a $2.1M non-recurring tax benefit). Operating loss improved 42.4% YoY to $0.8M, and Adjusted EBITDA improved 65.3% to -$0.2M. The company has no long-term debt and $8.1M cash. No guidance was provided.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue $6.35M, up 15.2% YoY from $5.52M
- GAAP net loss $0.66M vs net income $0.81M in Q1 2025 (prior year included $2.1M non-recurring tax benefit)
- Operating loss improved 42.4% YoY to $0.77M from $1.33M
- Adjusted EBITDA improved 65.3% to -$0.17M from -$0.48M
- Cash used in operations $0.2M vs cash provided $1.7M in Q1 2025
- Cash and equivalents $8.1M, no long-term debt
- Deferred revenue $4.7M, up from $3.9M at year-end 2025
- Core managed IT revenue grew 19% YoY to $3.4M; procurement revenue up 78.4% to $1.7M
- Subscription revenue declined 9.7% to $0.25M; professional services revenue down 33.5% to $0.48M
- Stock repurchase plan fully exhausted — 50,000 shares bought for $83,491 in Q1
Financial Impact
Revenue growth of 15.2% YoY to $6.35M, but GAAP net loss of $0.66M vs prior-year net income of $0.81M (driven by absence of $2.1M tax benefit). Operating cash flow turned negative at -$0.2M vs +$1.7M prior year.
Risk Factors
- No forward guidance provided — uncertainty on sustainability of revenue growth trajectory
- Operating cash flow turned negative (-$0.2M) vs positive $1.7M in Q1 2025
- Subscription revenue declining 9.7% YoY — a key recurring revenue metric
- Professional services revenue down 33.5% YoY
- Stock buyback plan fully exhausted — no further capital return catalyst
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-055069 |
| Document: ea0289796-8k_intelligent.htm | 0001213900-26-055069 |
| Document: 0001213900-26-055069-index-headers.html | 0001213900-26-055069 |
| Document: 0001213900-26-055069-index.html | 0001213900-26-055069 |
| Document: 0001213900-26-055069.txt | 0001213900-26-055069 |
| 8-K Data (Synthetic) | 0001213900-26-055069 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 8-K | $1.75 | awaiting T+5 | — | $1.72 (−1.43%) |
Jun 22, 2026 18w ago | EFFECT | $1.70 $1.69 | ▲ +0.59% | ▼ −1.48% | $1.72 (−1.18%) |
Jun 12, 2026 19w ago | S-3 | $1.80 $1.70 | ▲ +5.56% | ▲ +4.17% | $1.72 (+4.44%) |
May 26, 2026 22w ago | Insider Cluster | $1.92 $2.05 | ▲ +6.77% | ▲ +5.56% | $1.72 (−10.42%) |
May 22, 2026 22w ago | Insider Cluster | $1.99 $2.00 | ▲ +0.50% | ▼ −1.16% | $1.72 (−13.57%) |
May 12, 2026 24w ago | 8-K | $1.95 $1.92 | ▼ −1.54% | ▼ −0.38% | $1.72 (−11.79%) |
Mar 23, 2026 31w ago | EFFECT | $1.68 $1.49 | ▼ −11.31% | ▼ −7.75% | $1.72 (+2.38%) |
Mar 17, 2026 32w ago | S-3 | $1.61 $1.58 | ▲ +1.86% | ▲ +1.15% | $1.72 (−6.83%) |
US Market Status
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