Welcome to our dedicated page for Network-1 Technologies news (Ticker: NTIP), a resource for investors and traders seeking the latest updates and insights on Network-1 Technologies stock.
Network-1 Technologies, Inc. (NYSE American: NTIP) specializes in the development, licensing, and protection of intellectual property (IP) rights. The company collaborates with inventors and patent owners to facilitate the development and monetization of patented technologies. Currently, Network-1 owns 102 U.S. patents and 15 international patents, covering various telecommunications, data networking technologies, document stream operating systems, and media content identification technologies.
Network-1's strategy focuses on acquiring and investing in high-quality patents with significant licensing potential. It actively pursues licensing opportunities for its intellectual property assets. Its core patent portfolios include the Cox, M2M/IoT, HFT, Mirror Worlds, and Remote Power patents. Notably, the Remote Power Patent has generated over $188 million in licensing revenue since May 2007, while the Mirror Worlds Patent Portfolio has brought in $47.15 million to date.
Network-1 continues to expand its patent portfolio. The recent issuance of U.S. Patent No. 11,916,893 enhances its M2M/IoT Patent Portfolio, which now includes 37 issued U.S. patents and several pending applications. These patents cover enabling technologies for eSIMs, 5G network authentication, and modern Internet transport layer security solutions.
Financially, Network-1 reported a net revenue of $2.601 million for the year ended December 31, 2023, primarily from litigation settlements related to its Remote Power Patent. Despite a net loss of $1.457 million, the company's robust cash position of $43.394 million and marketable securities of $43.067 million ensure sufficient liquidity for future operations.
In addition to its core business, Network-1 has a significant investment in ILiAD Biotechnologies, LLC, owning approximately 6.8% of the clinical-stage biotechnology firm. ILiAD's BPZE1 vaccine for whooping cough has shown promising results in Phase 2b clinical trials.
Network-1 also implements a Share Repurchase Program and a consistent dividend policy. The company has repurchased over 9.72 million shares since the program's inception and continues to pay semi-annual cash dividends of $0.05 per share.
Network-1 Technologies, Inc. (NTIP) reported no revenue for the quarter and nine months ended September 30, 2022, down from $17 million and $35.7 million in the same periods of 2021. The decline was primarily due to the absence of prior year litigation settlements. Net income decreased to $2.2 million ($0.09 per share) for Q3 2022 from $6.6 million ($0.28 per share) in Q3 2021. For the nine months, NTIP recorded a net loss of $618,000 compared to a profit of $15.3 million in 2021. The company maintains a strong cash position of $48.9 million. It initiated several legal actions for patent infringement during October and November 2022.
Network-1 Technologies, Inc. (NYSE American:NTIP) has announced a semi-annual cash dividend of $0.05 per common share, payable on September 30, 2022, to stockholders of record as of September 20, 2022. This dividend declaration reflects the company's ongoing commitment to returning value to shareholders.
The dividend policy is periodically reviewed by the Board of Directors and may change based on operational results and financial needs.
Network-1 Technologies, Inc. (NYSE American: NTIP) reported no revenue for Q2 2022, compared to $18.7 million in Q2 2021, attributed to a prior licensing resolution with Cisco Systems.
The company posted a net loss of $1.5 million ($0.06 per share) for the quarter and a total net loss of $2.8 million ($0.12 per share) for the first half of 2022, a stark contrast to a net income of $8.7 million in the same period last year. As of June 30, 2022, Network-1's cash and equivalents stood at $52.1 million, with sufficient funds to support operations for the next year.
Network-1 Technologies, Inc. (NTIP) reported no revenue of $0 for Q1 2022, a significant decrease from $18.7 million in Q1 2021, primarily attributed to the resolution of a licensing dispute with Cisco. The company posted a net loss of $1.3 million or $(0.05) per share, contrasting with a net income of $9.5 million or $0.39 per share in the previous year. At March 31, 2022, Network-1 had $56.5 million in cash and marketable securities. The company is focused on monetizing its patent portfolios, including a recent acquisition in high-frequency trading technology.
Network-1 Technologies (NYSE American:NTIP) announced the issuance of U.S. Patent No. 11,329,655 by the U.S. Patent and Trademark Office to its subsidiary, HFT Solutions, related to high frequency trading technologies. This patent enhances the company's HFT Patent Portfolio, which now comprises seven issued patents and three pending applications, expected to remain valid until 2039. Network-1 aims to further expand this portfolio, capitalizing on advanced trading technology to address latency issues critical in high-speed trading environments.
Network-1 Technologies, Inc. (NTIP) reported substantial financial growth for the year ended December 31, 2021, with revenues soaring to $36,029,000, a dramatic increase from $4,403,000 in 2020. This growth was driven by a $18,692,000 settlement with Cisco and $17,000,000 from Hewlett-Packard. Net income reached $14,281,000 or $0.59 per share, reversing a loss of $1,709,000 in the prior year. The company held $59,623,000 in cash and equivalents at year-end, supporting ongoing operations and potential acquisitions.
Network-1 Technologies, Inc. (NYSE American:NTIP) announced the acquisition of a patent portfolio related to high frequency trading through its subsidiary, HFT Solutions, LLC. The portfolio includes six issued and two pending U.S. patents addressing speed and latency issues in trading systems. CEO Corey M. Horowitz expressed optimism about the robust high frequency trading market and plans to commence licensing activities soon. Network-1's strategy includes monetizing four patent portfolios with a history of substantial licensing revenue.
Network-1 Technologies announced that the U.S. District Court for the Southern District of New York partially ruled on summary judgment in its litigation against Facebook. The court found that the patents asserted by Network-1 are patent eligible but granted Facebook's motion for non-infringement, dismissing the case. Network-1 plans to evaluate an appeal. To date, the company has generated $47.15 million in licensing revenue from its Mirror Worlds patent portfolio, which includes agreements with major companies like Apple and Microsoft.
Network-1 Technologies (NYSE American: NTIP) announced a semi-annual cash dividend of $0.05 per common share. This dividend is payable on March 24, 2022, to all stockholders of record as of March 9, 2022. The Board's dividend policy is subject to periodic review and may change based on the company's earnings and financial requirements. Network-1 is engaged in the development and licensing of intellectual property, currently holding 88 patents related to telecommunications and networking technologies.
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