Business
Intelligent Protection Management Corp. Reports First Quarter 2025 Financial Results Reflecting Transition to Managed Technology Solutions Provider Focused on Cybersecurity and Cloud Infrastructure
$5.5 Million Revenue for First Quarter 2025; Cash Balance of $9.7 Million at March 31, 2025 JERICHO, NY / ACCESS Newswire / May 14, 2025 /Intelligent Protection Management Corp. ("IPM," the "Company," "we," "our" or "us") (Nasdaq:IPM), a managed technology ...
About this update from Intelligent Protection Management Corp.
[{"type":"text","content":"$5.5 Million Revenue for First Quarter 2025; Cash Balance of $9.7 Million at March 31, 2025","length":91,"tagName":"p"},{"type":"text","content":"JERICHO, NY / ACCESS Newswire / May 14, 2025 / Intelligent Protection Management Corp. ("IPM," the "Company," "we," "our" or "us") (Nasdaq:IPM), a managed technology solutions provider focused on cybersecurity and cloud infrastructure, today announced financial and operational results for the first quarter ended March 31, 2025.","length":379,"tagName":"p"},{"type":"text","content":"As previously disclosed, in January 2025, the Company completed its acquisition of Newtek Technology Solutions, Inc. ("NTS") from NewtekOne, Inc. and the sale of its "Paltalk", "Camfrog" and "Vumber" applications and certain assets and liabilities related to such applications (the "Transferred Assets") to Meteor Mobile Holdings, Inc. (together, the "Transactions"). Following the Transactions, the Company's business is focused on cybersecurity and cloud infrastructure.","length":536,"tagName":"p"},{"type":"text","content":"For the purposes of this earnings release and the financial information provided herein, revenue and income from operations for the three months ended March 31, 2025 primarily reflect the newly acquired NTS operations, while assets and liabilities related to the Transferred Assets are presented as held for sale/discontinued operations, and the results of operations related to the Transferred Assets are presented as discontinued operations.","length":443,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Financial Highlights","length":39,"tagName":"p"},{"type":"text","content":"(all metrics compared to first quarter 2024 unless otherwise noted)","length":67,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenue increased to $5.5 million compared to $0.3 million.","length":65,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating loss was $(1.3) million compared to an operating loss of $(1.0) million and included approximately $0.3 million of one-time expenses in connection with the Transactions.","length":179,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income totaled $0.8 million compared to net loss of $(0.5) million.","l...