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Paltalk, Inc. (Nasdaq: PALT) is a communications software innovator that operates a network of consumer applications enabling real-time interactions in a secure environment. The Company's product portfolio includes Paltalk, Camfrog, Tinychat, and Vumber, with revenue primarily derived from subscription fees and advertising arrangements. With over 20 years of history and 10 patents, Paltalk continues to drive multimedia social experiences and foster global video-based communities.
Paltalk, a communications software innovator, reported financial results for Q4 and the full year ended December 31, 2022. Revenue fell 10% to $2.8 million in Q4, while annual revenue decreased 17% to $11 million. Subscription revenue declined 8% in Q4 and over 13% for the year. Advertising revenue plummeted 47% in Q4 and fell more than 27% annually. The net loss increased significantly by 9276% in Q4, totaling $0.5 million, and by 358% for the year, amounting to $3.4 million. Despite these challenges, deferred revenue rose 18% to $2.3 million, and the company maintains a solid cash position of $14.7 million with no long-term debt.
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