Paltalk Q1 revenue down 12.4% to $2.6M; net loss flat at $0.7M; patent trial vs Cisco set for Q3 2023

INTELLIGENT PROTECTION MANAGEMENT CORP.

2023-Q1 EPS reported -$0.08 revenue$2,564,017

Revenue $2.6M (-12.4% YoY) with subscription -12% & advertising -27.4%.
Net loss unchanged at $0.7M; adjusted EBITDA loss widened 33.8% to $0.6M.
Cash $13.9M, no debt; cash used in operations improved $0.4M to $0.8M.
Patent lawsuit vs Cisco: reexamination confirmed claims 1-10; trial early Q3 2023.
Repurchased 5,192 shares at avg $1.39; buyback plan expired March 29, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTELLIGENT PROTECTION MANAGEMENT CORP. reported first quarter ended March 31, 2023 results: revenue $2.6 million, net income $0.7 million.

Period: first quarter ended March 31, 2023
Revenue: $2.6 million
Net income: $0.7 million
Result: reported results

Exact text from the filing

Key Financial Highlights for First Quarter Ended March 31, 2023 Compared to Prior Year Period ● Revenue decreased 12.4% to $2.6 million ● Subscription revenue decreased 12.0% to $2.5 million ● Advertising revenue decreased 27.4% to $0.1 million ● Net loss remained relatively unchanged at $0.7 million ● Adjusted EBITDA loss increased 33.8% to $0.6 million ● Deferred revenue increased 17% to $2.2 million ● Repurchased 5,192 shares of common stock during the three months ended March 31, 2023 pursuant to our stock repurchase plan at an average price per share of $1.39; the stock repurchase plan expired on March 29, 2023 ● The Company had $13.9 million in cash and no long-term debt on its balance sheet as of March 31, 2023

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38 earnings releases filed in the last 30 days. Browse all earnings releases →

INTELLIGENT PROTECTION MANAGEMENT CORP. filing history →

Source: SEC EDGAR

accession 0001213900-23-037680

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