Business
Intelligent Protection Management Corp. Reports 2025 Business Objectives and Fourth Quarter and Full Year 2024 Results
Refocused on Technology Service Offerings in the Cloud Infrastructure and Cybersecurity Sectors JERICHO, NY / ACCESS Newswire / March 24, 2025 / Intelligent Protection Management Corp. ("IPM," the "Company," "we," "our" or "us") (NASDAQ:IPM), a managed ...
About this update from Intelligent Protection Management Corp.
[{"type":"text","content":"Refocused on Technology Service Offerings in the Cloud Infrastructure and Cybersecurity Sectors","length":95,"tagName":"p"},{"type":"text","content":"JERICHO, NY / ACCESS Newswire / March 24, 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 fourth quarter and year ended December 31, 2024.","length":394,"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").","length":427,"tagName":"p"},{"type":"text","content":"Following the Transactions, the Company's business is focused on providing server hosting, cloud hosting, data storage, managed security, backup and disaster recovery, and other related services, including consulting and implementing technology solutions. The financial results for the fourth quarter and year ended December 31, 2024 discussed below relate to the Company's business prior to the consummation of the Transactions.","length":437,"tagName":"p"},{"type":"text","content":"Key Financial Highlights for Fourth Quarter Ended December 31, 2024 Compared to Prior Year Period","length":97,"tagName":"p"},{"type":"text","content":"For the purposes of this earnings release and the financial information provided herein, 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. Subsequent to year end, on January 2, 2025, the Company completed the sale of the Transferred Assets.","length":409,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue from continuing operations increased 9.1% to $0.3 million from nearly $0.3 million, as a result of increased sales from ManyCam. Includin...