Paltalk, Inc. Reports Results for Third Quarter 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2024
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Source: Newsfilter
Financial Performance: Paltalk, Inc. reported a 23.4% decrease in revenue for Q3 2024 compared to the previous year, resulting in a net loss of $1.5 million, while cash reserves stood at $12.1 million as of September 30, 2024.
Acquisition and Litigation Update: The company has entered into agreements to acquire Newtek Technology Solutions and divest its telecommunications services, while also securing a $65.7 million jury verdict in a patent infringement case against Cisco.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
