Acquisition and Strategic Transition
Successfully completed the acquisition of Newtek Technology Solutions and transitioned into the cloud infrastructure and cybersecurity sectors, which is expected to have a meaningful impact on revenue and provide growth opportunities.
Patent Infringement Lawsuit Success
Won a $65.7 million jury verdict in a patent infringement lawsuit against Cisco Systems, Inc., although final proceeds are subject to deductions and potential appeals.
Revenue Growth from Continuing Operations
Revenue from continuing operations increased by 14% for the year ended December 31, 2024, driven by increased sales from ManyCam.
Strong Cash Position
The company reported having $10.6 million in cash with no long-term debt as of December 31, 2024.