Professional Diversity Network Q1 revenue down 5%, net loss widens 25% to $1.1M

Professional Diversity Network, Inc.

Total revenues $1.955M, down ~5% from $2.053M; net loss from ops $1.109M vs $0.890M, up 25%.
RemoteMore revenue up 46% to $698k; PDN Network down 18% to $1.128M; NAPW down 34% to $129k.
Acquired Expo Experts for $600k ($400k cash + $200k stock); increased RemoteMore stake to 72.62%.
Raised $700k via private placement of 333,181 shares at $2.10/share in March 2023.
Cash fell to $0.9M from $1.2M; working capital deficit widened to $1.0M from $0.2M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Professional Diversity Network, Inc. reported the quarter ended March 31, 2023 results: revenue approximately $1,955,000, EPS $0.11 per share.

Period: the quarter ended March 31, 2023
Revenue: approximately $1,955,000
EPS: $0.11 per share
Result: reported results

Exact text from the filing

Total revenues for the three months ended March 31, 2023, decreased approximately $98,000, or 5 percent, to approximately $1,955,000 from approximately $2,053,000 during the same period in the prior year.

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Professional Diversity Network, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-017197

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