Paltalk Q2 revenue down 24.7% to $2.2M, net loss $0.9M; cash $12.8M

INTELLIGENT PROTECTION MANAGEMENT CORP.

2024-Q2 EPS reported -$0.15 revenue$542,981

Revenue $2.2M, down 24.7% YoY; subscription $2.1M (-26.1%), advertising $0.1M (+29.2%).
Net loss $0.9M vs net income $0.1M prior year; adjusted EBITDA loss $0.9M.
Cash $12.8M, no debt; deferred revenue $1.9M (-12.6%).
Entered merger to acquire Newtek Technology Solutions for $4M cash + 4M preferred shares, plus earn-out up to $5M.
Condition to close: must divest Paltalk, Camfrog, Tinychat apps.

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