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Paltalk Inc - PALT STOCK NEWS

Welcome to our dedicated page for Paltalk news (Ticker: PALT), a resource for investors and traders seeking the latest updates and insights on Paltalk stock.

Paltalk Inc. (PALT) operates at the intersection of communications technology and social engagement, delivering innovative solutions through platforms like Paltalk and Camfrog. This news hub provides investors and industry observers with essential updates on the company’s strategic initiatives, financial performance, and technology developments.

Access real-time updates on earnings reports, patent filings, and acquisition activity that shape PALT’s position in the competitive communications software sector. Our curated collection includes official press releases, regulatory disclosures, and market analyses relevant to the company’s core operations in video chat platforms, cloud hosting solutions, and intellectual property management.

Key coverage areas include quarterly financial results, strategic partnership announcements, cybersecurity enhancements, and community growth metrics. The resource is particularly valuable for tracking PALT’s dual focus on maintaining legacy communication platforms while expanding into adjacent technologies through targeted acquisitions.

Bookmark this page for streamlined access to Paltalk’s evolving business narrative, including developments in managed IT services, user engagement strategies, and patent portfolio expansions. Stay informed about how the company balances technological innovation with operational sustainability in the dynamic digital communications landscape.

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Paltalk, a communications software company, announced its Q3 2024 financial results. Revenue fell 23.4% to $2.1 million, with subscription revenue down 23.9% and advertising revenue down 7.1%. Net loss increased to $1.5 million, compared to $0.2 million in Q3 2023. Adjusted EBITDA loss rose to $1.4 million from $0.1 million. For the nine months ending September 30, 2024, revenue decreased 16.2% to $6.9 million. The net loss for this period was $2.9 million, up from $0.8 million. Cash balance stood at $12.1 million.

Operational highlights include a $65.7 million judgment against Cisco, an agreement to acquire Newtek Technology Solutions for $4 million in cash and 4 million shares of preferred stock, and a divestiture deal with Meteor Mobile for $1.35 million. Paltalk will also sell its Paltalk and Camfrog applications and cease Tinychat operations. The company aims to focus on growing its cybersecurity, cloud hosting, and technology solutions business.

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Paltalk (PALT) has announced it will host its third quarter 2024 earnings results conference call on Tuesday, November 12, 2024, at 4:30 p.m. ET. CEO Jason Katz and CFO Kara Jenny will discuss the company's results for the three and nine months ended September 30, 2024. Stockholders can submit questions in advance via email to nyc@clearthink.capital. The conference call will be accessible via toll-free and international dial-in numbers, with replay options available.

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Paltalk, Inc. (NASDAQ: PALT) announced that on October 8, 2024, a final judgment was entered in the District Court for the Western District of Texas regarding their patent infringement lawsuit against Cisco Systems, Inc. The judgment follows a jury verdict on August 29, 2024, which awarded Paltalk $65.7 million for alleged infringement of U.S. Patent No. 6,683,858.

The final judgment, signed by Judge Alan D. Albright, starts the clock for post-trial motions or appeals. Paltalk estimates it will receive no more than one-third of the gross proceeds after deducting significant litigation-related expenses, including legal fees. The exact amount is subject to post-trial proceedings and potential appeals by Cisco. Paltalk holds 8 issued US Patents and intends to continue defending them vigorously.

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Paltalk (NASDAQ: PALT) has been awarded a $65.7 million jury verdict against Cisco Systems Inc. for patent infringement. The verdict, delivered by a jury in the District Court for the Western District of Texas, relates to U.S. Patent No. 6,683,858. Paltalk filed the lawsuit on July 23, 2021, alleging that certain Cisco products infringed on this patent.

The award is subject to post-trial proceedings, potential appeals by Cisco, and final judgment by the Court. Paltalk estimates it will receive no more than one-third of the gross proceeds after deducting significant litigation-related expenses, including legal fees. Susman Godfrey LLP and Cherry Johnson Siegmund James served as legal counsel for Paltalk in this case.

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Paltalk, Inc. (NASDAQ: PALT) reported Q2 2024 results, showing a 24.7% decrease in revenue to $2.2 million compared to the same period last year. The company experienced a net loss of $0.9 million, a significant decline from the $0.1 million net income in Q2 2023. Key highlights include:

- Subscription revenue decreased 26.1% to $2.1 million
- Advertising revenue increased 29.2% to $0.1 million
- Cash balance of $12.8 million as of June 30, 2024
- Entered agreement to acquire Newtek Technology Solutions
- Plans to divest core video chat applications

The company attributes the softness in results to macro-economic factors affecting discretionary spending. Paltalk is focusing on maximizing stockholder value through the planned acquisition and divestiture, while continuing to defend its intellectual property in an upcoming trial against Cisco.

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Paltalk, Inc. (NASDAQ: PALT) has entered into a definitive agreement to acquire Newtek Technology Solutions, Inc. (NTS) from NewtekOne, Inc. The acquisition involves a $4 million cash payment and the issuance of 4 million shares of preferred stock to Newtek. NTS provides dedicated server hosting, cloud hosting, and related services. This transformational acquisition is expected to have an immediate and meaningful impact on Paltalk's revenue, as NTS' 2023 revenue was approximately three times greater than Paltalk's. The deal is subject to stockholder approval and regulatory approvals, with an expected closing in Q4 2024 or Q1 2025. As part of the transaction, Paltalk will divest its 'Paltalk', 'Camfrog', and 'Tinychat' applications. Post-acquisition, Paltalk plans to change its name to Intelligent Protection Management Corp. and its ticker symbol to 'IPM'.

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Paltalk (Nasdaq: PALT), a communications software innovator, has announced its second quarter 2024 earnings results conference call scheduled for Tuesday, August 13, 2024, at 4:30 p.m. ET. CEO Jason Katz and CFO Kara Jenny will discuss the company's performance for the three and six months ended June 30, 2024, and address pre-submitted stockholder questions.

The call can be accessed via toll-free number 888-506-0062 (US) or 973-528-0011 (International) using the participant access code 198721. A webcast link and replay options are also available. Stockholders can submit questions in advance to nyc@clearthink.capital.

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Paltalk, Inc. reported Q4 2023 net cash used in operating activities at $0.1 million, with a strong cash balance of $13.6 million and no long-term debt. Total revenue decreased by 4% to $2.7 million, while advertising revenue increased by 40%. Net loss improved by 43% to $0.3 million, and Adjusted EBITDA loss improved by 53%. For the year ended December 31, 2023, total revenue remained unchanged at $11.0 million, with a 68% improvement in net loss and a 62% improvement in Adjusted EBITDA loss. The company had $13.6 million in cash and no long-term debt on its balance sheet. Paltalk highlighted efforts to decrease operating expenses, expand marketing efficiency, explore strategic opportunities, and defend intellectual property.
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Paltalk, Inc. (PALT) to host Q4 and full year 2023 earnings conference call on March 15, 2024. CEO and CFO to discuss financial results and address stockholder questions.
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PALT announced positive cash flow from operations for the third quarter, reporting a 5.5% increase in revenue to $2.8 million, with a net loss of $0.2 million, representing an 83% decrease compared to the prior year period.
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Nasdaq:PALT

PALT Rankings

PALT Stock Data

18.75M
5.68M
37.79%
8.95%
0.55%
Software - Application
Services-business Services, Nec
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United States
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