---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-028597"
form_type: "8-K"
ticker: "IPDN"
cik: "0001546296"
company_name: "Professional Diversity Network, Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T10:59:14.909201+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-028597
- form_type: 8-K
- ticker: IPDN
- cik: 0001546296
- company_name: Professional Diversity Network, Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1546296/000149315223028597/0001493152-23-028597-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1546296/000149315223028597/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-028597
- JSON: https://secwatch.observer/filing/0001493152-23-028597.json
- Plain text: https://secwatch.observer/filing/0001493152-23-028597.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1546296/000149315223028597/0001493152-23-028597-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.