Network-1 reports 2023 revenue of $2.6M from patent settlements; net loss narrows to $1.46M

NETWORK-1 TECHNOLOGIES, INC.

Revenue of $2.6M from Remote Power Patent settlement agreements vs no revenue in 2022.
Net loss of $1.46M ($0.06/share) narrowed from $2.33M ($0.10/share) in 2022.
Cash and marketable securities $45.5M at year-end; working capital $44.9M.
Board extended share repurchase program to $5M over 24 months; repurchased 428K shares in 2023 at avg $2.23.
Semi-annual dividend of $0.05/share continued in 2023 and March 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NETWORK-1 TECHNOLOGIES, INC. reported year ended December 31, 2023 results: revenue $2,601,000, net income net loss of $1,457,000, EPS $0.06 per share basic and diluted.

Period: year ended December 31, 2023
Revenue: $2,601,000
Net income: net loss of $1,457,000
EPS: $0.06 per share basic and diluted
Result: reported results

Exact text from the filing

acquiring, developing, licensing, and monetizing intellectual property, today announced financial results for the year ended December 31, 2023. Network-1 had revenue of $2,601,000 for the year ended December 31, 2023 as compared to no revenue in the year ended December 31, 2022. Revenue realized in 2023 was from settlement agreements in litigations related

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NETWORK-1 TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001072613-24-000336

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