Paltalk, Inc. ( (IPM) ) has released its Q4 earnings. Here is a breakdown of the information Paltalk, Inc. presented to its investors.
Intelligent Protection Management Corp. (IPM) is a managed technology solutions provider specializing in cybersecurity and cloud infrastructure, offering services such as server hosting, data storage, and managed security solutions. Recently, IPM reported its financial results for the fourth quarter and full year 2024, alongside its business objectives for 2025.
The company’s revenue from continuing operations saw a modest increase of 9.1% in the fourth quarter of 2024 compared to the previous year, driven by sales from ManyCam. However, the overall revenue decreased by 21% due to a decline in subscription and virtual gift revenue from its divested applications, Paltalk and Camfrog. The net loss from continuing operations increased significantly, attributed to professional fees and expenses related to recent transactions.
For the full year 2024, IPM’s revenue from continuing operations grew by 14%, yet the net loss surged by 690% to $8.4 million. The company completed the sale of its communication software and multimedia social platforms, focusing on its core technology services. IPM holds $10.6 million in cash with no long-term debt, positioning itself for strategic growth in the cloud and cybersecurity sectors.
Looking ahead, IPM aims to integrate its IT solutions, optimize cross-selling opportunities, and explore strategic acquisitions. The management is optimistic about expanding its managed technology solutions, leveraging its recent acquisition of Newtek Technology Solutions and a referral arrangement with NewtekOne to attract new customers and enhance growth in the cybersecurity domain.