Professional Diversity Network Q2 revenue down 16% to $1.84M; net loss widens to $1.43M

Professional Diversity Network, Inc.

Total revenue $1.841M, down 16.1% YoY; PDN Network revenue fell 20.5% to $1.101M.
Net loss from continuing ops $1.432M vs $52K loss in Q2 2022; diluted loss per share $0.14 vs $0.01.
Adjusted EBITDA negative $1.229M vs negative $0.295M in prior-year quarter.
Cash and equivalents $2.207M at June 30, 2023, up from $1.237M at Dec 31, 2022.
Entered $12.775M equity facility with Tumim Stone Capital; initial $2M gross proceeds from 469,925 shares.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Professional Diversity Network, Inc. reported the quarter ended June 30, 2023 results: revenue approximately $1,841,000, EPS Basic and diluted net loss per share decreased to $0.14 during the three months ended June 30, 2023 as compared to $0.01.

Period: the quarter ended June 30, 2023
Revenue: approximately $1,841,000
EPS: Basic and diluted net loss per share decreased to $0.14 during the three months ended June 30, 2023 as compared to $0.01
Result: reported results

Exact text from the filing

for the Three Months Ended June 30, 2023 Revenues Total revenues for the three months ended June 30, 2023 decreased approximately $354,000, or 16.1 percent, to approximately $1,841,000 from approximately $ 2,195,000 during the same period in the prior year. The decrease was predominately attributable to a reduction in recruitment services revenues of

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Source: SEC EDGAR

accession 0001493152-23-028597

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