Paltalk reports 2023 EPS (12c) vs. (35c) last year

Reports Q4 revenue $10.98M vs. $10.99M last year. Jason Katz, Chairman and CEO of Paltalk, commented, “Several of our initiatives have led to a significant decrease in operating expenses and an improvement in reducing our operating and net losses. As a result, our operating expenses as a percentage of revenue declined to 118% for the fourth quarter of 2023, versus 129% for the fourth quarter of 2022. On the sales side, our marketing efforts have become more efficient, and we have expanded ManyCam to the enterprise segment. We believe we are well-positioned for organic and acquisitive growth, as our current expense infrastructure can support additional revenue, and our cash position as of December 31, 2023 remains strong at $13.6 million. On the strategic opportunities front, we have continued to actively identify and analyze potential mergers or acquisitions of other assets or entities that are synergistic to our business, which we believe have the potential to increase shareholder value. Our trial against Cisco has been set to begin in April 2024, and we look forward to continuing to defend our intellectual property.”