Network-1 Reports 2024 Year-End Financial Results
Network-1 Technologies (NYSE:NTIP) reported financial results for FY2024, showing significant revenue decline to $100,000 from $2,601,000 in 2023. The company posted a wider net loss of $3,034,000 ($0.13 per share) compared to $1,457,000 ($0.06 per share) in 2023.
Operating expenses decreased by $1,115,000, primarily due to reduced litigation settlement costs. Interest and dividend income remained stable at $1,897,000, while realized gains on marketable securities declined to $177,000 from $525,000.
The company maintains strong liquidity with $40.6 million in cash and marketable securities. Under its Share Repurchase Program, Network-1 bought back 733,436 shares at approximately $1.27 million in 2024. The company continues its semi-annual dividend policy of $0.05 per share.
Network-1 Technologies (NYSE:NTIP) ha riportato i risultati finanziari per l'anno fiscale 2024, mostrando un significativo calo dei ricavi a $100.000 rispetto a $2.601.000 nel 2023. L'azienda ha registrato una perdita netta pi霉 ampia di $3.034.000 ($0,13 per azione) rispetto a $1.457.000 ($0,06 per azione) nel 2023.
Le spese operative sono diminuite di $1.115.000, principalmente a causa della riduzione dei costi di risoluzione delle controversie legali. I proventi da interessi e dividendi sono rimasti stabili a $1.897.000, mentre i guadagni realizzati su titoli commerciabili sono scesi a $177.000 da $525.000.
L'azienda mantiene una forte liquidit脿 con $40,6 milioni in contante e titoli commerciabili. Nell'ambito del suo Programma di Riacquisto di Azioni, Network-1 ha riacquistato 733.436 azioni per circa $1,27 milioni nel 2024. L'azienda continua con la sua politica di dividendi semestrali di $0,05 per azione.
Network-1 Technologies (NYSE:NTIP) report贸 resultados financieros para el a帽o fiscal 2024, mostrando una significativa disminuci贸n de ingresos a $100,000 desde $2,601,000 en 2023. La empresa registr贸 una p茅rdida neta m谩s amplia de $3,034,000 ($0.13 por acci贸n) en comparaci贸n con $1,457,000 ($0.06 por acci贸n) en 2023.
Los gastos operativos disminuyeron en $1,115,000, principalmente debido a la reducci贸n de los costos de liquidaci贸n de litigios. Los ingresos por intereses y dividendos se mantuvieron estables en $1,897,000, mientras que las ganancias realizadas en valores negociables cayeron a $177,000 desde $525,000.
La empresa mantiene una s贸lida liquidez con $40.6 millones en efectivo y valores negociables. Bajo su Programa de Recompra de Acciones, Network-1 recompr贸 733,436 acciones por aproximadamente $1.27 millones en 2024. La empresa contin煤a con su pol铆tica de dividendos semestrales de $0.05 por acci贸n.
Network-1 Technologies (NYSE:NTIP)電� 2024 須岅硠鞐半弰 鞛 瓴瓣臣毳� 氤搓碃頃橂┌, 2023雲勳潣 $2,601,000鞐愳劀 $100,000鞙茧 靸侂嫻頃� 靾橃澋 臧愳唽毳� 氤挫棳欤检棃鞀惦媹雼�. 须岇偓电� 2023雲勳潣 $1,457,000 ($0.06 per share) 雽�牍� $3,034,000 ($0.13 per share)鞚� 雿� 韥� 靾滌啇鞁れ潉 旮半頄堨姷雼堧嫟.
鞖挫榿 牍勳毄鞚� 欤茧 靻岇啞 頃╈潣 牍勳毄 臧愳唽搿� 鞚疙暣 $1,115,000 臧愳唽頄堨姷雼堧嫟. 鞚挫瀽 氚� 氚半嫻 靾橃澋鞚� $1,897,000鞙茧 鞎堨爼靹鸽ゼ 鞙犾頄堨溂氅�, 鞙犼皜歃濌秾鞐愳劀 鞁ろ槃霅� 鞚挫澋鞚� $525,000鞐愳劀 $177,000鞙茧 臧愳唽頄堨姷雼堧嫟.
须岇偓电� $40.6 million鞚� 順勱笀 氚� 鞙犼皜歃濌秾鞙茧 臧曤牓頃� 鞙犽彊靹膘潉 鞙犾頃橁碃 鞛堨姷雼堧嫟. 鞛愳偓欤� 毵れ瀰 頂勲攴鸽灗鞐� 霐半澕 Network-1鞚� 2024雲勳棎 鞎� $1.27 million鞐� 733,436欤茧ゼ 毵れ瀰頄堨姷雼堧嫟. 须岇偓电� 欤茧嫻 $0.05鞚� 氚橁赴 氚半嫻 鞝曥眳鞚� 瓿勳啀 鞙犾頃╇媹雼�.
Network-1 Technologies (NYSE:NTIP) a publi茅 ses r茅sultats financiers pour l'exercice 2024, montrant une baisse significative des revenus 脿 $100.000 contre $2.601.000 en 2023. L'entreprise a affich茅 une perte nette plus importante de $3.034.000 ($0,13 par action) par rapport 脿 $1.457.000 ($0,06 par action) en 2023.
Les charges d'exploitation ont diminu茅 de $1.115.000, principalement en raison de la r茅duction des co没ts de r猫glement des litiges. Les revenus d'int茅r锚ts et de dividendes sont rest茅s stables 脿 $1.897.000, tandis que les gains r茅alis茅s sur des titres n茅gociables ont chut茅 脿 $177.000 contre $525.000.
L'entreprise maintient une forte liquidit茅 avec $40,6 millions en esp猫ces et en titres n茅gociables. Dans le cadre de son programme de rachat d'actions, Network-1 a rachet茅 733.436 actions pour environ $1,27 million en 2024. L'entreprise continue sa politique de dividende semestriel de $0,05 par action.
Network-1 Technologies (NYSE:NTIP) hat die finanziellen Ergebnisse f眉r das Gesch盲ftsjahr 2024 ver枚ffentlicht, die einen signifikanten R眉ckgang der Einnahmen auf $100.000 im Vergleich zu $2.601.000 im Jahr 2023 zeigen. Das Unternehmen verzeichnete einen gr枚脽eren Nettoverlust von $3.034.000 ($0,13 pro Aktie) im Vergleich zu $1.457.000 ($0,06 pro Aktie) im Jahr 2023.
Die Betriebsausgaben sanken um $1.115.000, haupts盲chlich aufgrund reduzierter Kosten f眉r Rechtsstreitigkeiten. Zinsen und Dividenden blieben stabil bei $1.897.000, w盲hrend die realisierten Gewinne aus handelbaren Wertpapieren auf $177.000 von $525.000 zur眉ckgingen.
Das Unternehmen verf眉gt 眉ber eine starke Liquidit盲t mit $40,6 Millionen in bar und handelbaren Wertpapieren. Im Rahmen seines Aktienr眉ckkaufprogramms kaufte Network-1 733.436 Aktien f眉r etwa $1,27 Millionen im Jahr 2024 zur眉ck. Das Unternehmen setzt seine halbj盲hrliche Dividendenpolitik von $0,05 pro Aktie fort.
- Strong liquidity position with $40.6M cash and marketable securities
- Decreased operating expenses by $1.115M
- Maintained stable interest and dividend income at $1.897M
- Continued share repurchase program and dividend payments
- Revenue declined 96% to $100K from $2.601M in 2023
- Net loss increased to $3.034M from $1.457M year-over-year
- Loss per share doubled to $0.13 from $0.06
- AG真人官方ized gains on marketable securities decreased to $177K from $525K
Insights
Network-1's 2024 financial results reveal concerning operational trends, with revenue plummeting
The company has essentially transformed into an investment vehicle rather than an operational business. With
A substantial
Despite these issues, Network-1 maintains substantial liquidity with
The company's commitment to returning capital to shareholders (
NEW CANAAN, CT / / February 28, 2025 / Network-1 Technologies, Inc. (NYSE American:NTIP) ("Network-1"), a company specializing in the acquisition, development, licensing and monetization of its intellectual property assets, today announced financial results for the year ended December 31, 2024.
Network-1 had revenue of
Network-1 reported a net loss of
Interest and dividend income for 2024 was
At December 31, 2024, Network-1's principal sources of liquidity consisted of cash and cash equivalents and marketable securities of
On June 14, 2023, Network鈥�1's Board of Directors authorized an extension and increase of Network鈥�1's Share Repurchase Program to repurchase up to
Network-1's dividend policy consists of semi-annual cash dividends of
ABOUT NETWORK-1 TECHNOLOGIES, INC.
Network-1 Technologies, Inc. is engaged in the acquisition, development, licensing and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. Network-1 currently owns one hundred and six (106) U.S. patents and sixteen (16) international patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content. Network-1's current strategy includes efforts to monetize three patent portfolios (the Cox, M2M/IoT and HFT portfolios). Network-1's strategy is to focus on acquiring and investing in high quality patents which management believes have the potential to generate significant licensing opportunities as Network-1 has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. Network-1's Remote Power Patent has generated licensing revenue in excess of
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning Network-1's business plans. Such statements are subject to a number of risk factors and uncertainties as disclosed in the Network-1's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 28, 2025 including, among others, Network-1's uncertain revenue from licensing its intellectual property, uncertainty as to the outcome of pending litigation involving Network-1's HFT Patent Portfolio, whether Network-1 will be successful in its appeal to the Federal Circuit of the District Court judgment of non-infringement dismissing Network-1's litigation against Google and YouTube involving certain patents within our Cox Patent Portfolio, the ability of Network-1 to successfully execute its strategy to acquire or make investments in high quality patents with significant licensing opportunities, Network-1's ability to achieve revenue and profits from its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio as well as a successful outcome on its investment in ILiAD Biotechnologies, LLC or other intellectual property it may acquire or finance in the future, the ability of Network-1 to enter into additional license agreements, uncertainty as to whether cash dividends will continue be paid, Network-1's ability to enter into strategic relationships with third parties to license or otherwise monetize their intellectual property, the increasing development of artificial intelligence could impact Network-1's business, the risk in the future of Network-1 being classified as a Personal Holding Company which may result in Network-1 issuing a special cash dividend to its stockholders, future economic conditions and technology changes and legislative, regulatory and competitive developments. Except as otherwise required to be disclosed in periodic reports, Network-1 expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.
Network-1's statements of operations and comprehensive loss and balance sheet are attached.
For additional details regarding the above referenced highlights, please see Network-1's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 28, 2025.
NETWORK-1 TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
| Years Ended |
| |||||
| 2024 |
|
| 2023 |
| |||
REVENUE |
| $ | 100,000 |
|
| $ | 2,601,000 |
|
|
|
|
|
|
|
|
| |
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
Costs of revenue |
|
| 28,000 |
|
|
| 874,000 |
|
Professional fees and related costs |
|
| 959,000 |
|
|
| 807,000 |
|
General and administrative |
|
| 2,614,000 |
|
|
| 2,889,000 |
|
Amortization of patents |
|
| 120,000 |
|
|
| 266,000 |
|
|
|
|
|
|
|
|
| |
TOTAL OPERATING EXPENSES |
|
| 3,721,000 |
|
|
| 4,836,000 |
|
|
|
|
|
|
|
|
| |
OPERATING LOSS |
|
| (3,621,000 | ) |
|
| (2,235,000 | ) |
OTHER INCOME |
|
|
|
|
|
|
|
|
Interest and dividend income, net |
|
| 1,897,000 |
|
|
| 1,868,000 |
|
Net realized and unrealized gain on marketable securities |
|
| 177,000 |
|
|
| 525,000 |
|
Total other income, net |
|
| 2,074,000 |
|
|
| 2,393,000 |
|
|
|
|
|
|
|
|
| |
(LOSS) INCOME BEFORE INCOME TAXES AND SHARE OF |
|
|
|
|
|
|
|
|
NET LOSSES OF EQUITY METHOD INVESTEE |
|
| (1,547,000 | ) |
|
| 158,000 |
|
|
|
|
|
|
|
|
| |
INCOME TAXES PROVISION: |
|
|
|
|
|
|
|
|
Current |
|
| - |
|
|
| 11,000 |
|
Deferred taxes, net |
|
| (425,000 | ) |
|
| (399,000 | ) |
Total income taxes benefit |
|
| (425,000 | ) |
|
| (388,000 | ) |
(LOSS) INCOME BEFORE SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE: |
|
| (1,122,000 | ) |
|
| 546,000 |
|
|
|
|
|
|
|
|
| |
SHARE OF NET LOSSES OF EQUITY METHOD INVESTEE |
|
| (1,912,000 | ) |
|
| (2,003,000 | ) |
NET LOSS |
| $ | (3,034,000 | ) |
| $ | (1,457,000 | ) |
|
|
|
|
|
|
|
| |
Net Loss Per Share: |
|
|
|
|
|
|
|
|
Basic |
| $ | (0.13 | ) |
| $ | (0.06 | ) |
Diluted |
| $ | (0.13 | ) |
| $ | (0.06 | ) |
|
|
|
|
|
|
|
| |
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
Basic |
|
| 23,250,224 |
|
|
| 23,791,287 |
|
Diluted |
|
| 23,250,224 |
|
|
| 23,791,287 |
|
Cash dividends declared per share |
| $ | 0.10 |
|
| $ | 0.10 |
|
|
|
|
|
|
|
|
| |
NET LOSS |
| $ | (3,034,000 | ) |
| $ | (1,457,000 | ) |
OTHER COMPREHENSIVE INCOME (LOSS) |
|
|
|
|
|
|
|
|
Net unrealized holding gain on corporate bonds and notes arising during the year, net of tax |
|
| - |
|
|
| 14,000 |
|
|
|
|
|
|
|
|
| |
COMPREHENSIVE LOSS |
| $ | (3,034,000 | ) |
| $ | (1,443,000 | ) |
NETWORK-1 TECHNOLOGIES, INC.
CONSOLIDATED BALANCE SHEETS
| December 31, |
| ||||||
| 2024 |
|
| 2023 |
| |||
ASSETS: |
|
|
|
|
|
| ||
CURRENT ASSETS: |
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 13,145,000 |
|
| $ | 16,896,000 |
|
Marketable securities, at fair value |
|
| 27,455,000 |
|
|
| 28,571,000 |
|
Other current assets |
|
| 232,000 |
|
|
| 206,000 |
|
Total Current Assets |
|
| 40,832,000 |
|
|
| 45,673,000 |
|
OTHER ASSETS: |
|
|
|
|
|
|
|
|
Patents, net of accumulated amortization |
|
| 1,205,000 |
|
|
| 1,326,000 |
|
Equity investment |
|
| 3,337,000 |
|
|
| 5,249,000 |
|
Operating leases right of use asset |
|
| 27,000 |
|
|
| 16,000 |
|
Security deposits |
|
| 13,000 |
|
|
| 13,000 |
|
Total Other Assets |
|
| 4,582,000 |
|
|
| 6,604,000 |
|
TOTAL ASSETS |
| $ | 45,414,000 |
|
| $ | 52,277,000 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 203,000 |
|
| $ | 125,000 |
|
Accrued payroll |
|
| 292,000 |
|
|
| 378,000 |
|
Other accrued expenses |
|
| 247,000 |
|
|
| 297,000 |
|
Operating lease obligations |
|
| 24,000 |
|
|
| 23,000 |
|
|
|
|
|
|
|
|
| |
Total Current Liabilities |
|
| 766,000 |
|
|
| 823,000 |
|
|
|
|
|
|
|
|
| |
LONG TERM LIABILITIES: |
|
|
|
|
|
|
|
|
Deferred tax liability |
|
| 337,000 |
|
|
| 762,000 |
|
|
|
|
|
|
|
|
| |
TOTAL LIABILITIES |
| $ | 1,103,000 |
|
| $ | 1,585,000 |
|
|
|
|
|
|
|
|
| |
COMMITMENTS AND CONTINGENCIES (See Note I) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Preferred stock, none issued and outstanding at December 31, 2024 and December 31, 2023 |
| $ | - |
|
| $ | - |
|
Common stock, 22,961,619 and 23,553,908 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively |
|
| 229,000 |
|
|
| 235,000 |
|
Additional paid-in capital |
|
| 65,455,000 |
|
|
| 67,446,000 |
|
Accumulated deficit |
|
| (21,373,000 | ) |
|
| (16,989,000 | ) |
|
|
|
|
|
|
|
| |
TOTAL STOCKHOLDERS' EQUITY |
|
| 44,311,000 |
|
|
| 50,692,000 |
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
| $ | 45,414,000 |
|
| $ | 52,277,000 |
|
Contacts:
Network-1 Technologies, Inc.
Corey M. Horowitz, Chairman and CEO
(917) 692-0000
SOURCE: Network-1 Technologies, Inc.
View the original on ACCESS Newswire
FAQ
How much revenue did Network-1 (NTIP) generate in 2024 compared to 2023?
What is Network-1's (NTIP) current financial position in terms of liquidity?
How much did Network-1 (NTIP) spend on share repurchases in 2024?
What is Network-1's (NTIP) current dividend policy?
How much has Network-1 (NTIP) returned to shareholders through dividends and buybacks?
