Paltalk Inc (NAS:PALT)
$ 3.13 0.14 (4.68%) Market Cap: 28.86 Mil Enterprise Value: 14.71 Mil PE Ratio: 0 PB Ratio: 1.53 GF Score: 50/100
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Q2 2024 Paltalk Inc Earnings Call Transcript

Aug 13, 2024 / 08:30 PM GMT
Release Date Price: $3.9 (-2.50%)

Key Points

Positve
  • Paltalk Inc (PALT) entered into an agreement to acquire Newtek Technology Solutions, Inc., which is expected to significantly boost revenue.
  • The acquisition of Newtek Technology Solutions, Inc. will allow Paltalk Inc (PALT) to enter the cloud infrastructure and cybersecurity sectors.
  • Paltalk Inc (PALT) launched Version 9 of ManyCam, featuring a revamped user interface and templates designed to assist with onboarding.
  • The company has a strong cash position with $12.8 million in cash and no long-term debt as of June 30, 2024.
  • Paltalk Inc (PALT) is actively exploring strategic opportunities, including potential mergers or acquisitions, to drive future growth.
Negative
  • Revenue for the second quarter decreased by 24.7% to $2.2 million compared to the same period last year.
  • Loss from operations increased by 322.8% to $1.2 million for the second quarter compared to the same period last year.
  • Net loss for the second quarter increased by 788% to $0.9 million compared to net income of $0.1 million for the same period last year.
  • Adjusted EBITDA loss for the second quarter increased by approximately 6,164% to $0.9 million compared to the same period last year.
  • The company experienced a significant decrease in virtual gift revenue, which dropped by 47.7% for the second quarter.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PALT.OQ - Paltalk Inc
Q2 2024 Paltalk Inc Earnings Call
Aug 13, 2024 / 08:30PM GMT

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Conference Call Participants
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* Kara Jenny
* Jason Katz

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Presentation
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Operator [1]
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Greetings, and welcome to the Paltalk Second Quarter 2024 Results Conference Call. [Operator Instructions] Please note this call is being recorded. I will now turn the conference over to your host, Kara Jenny, CFO of Paltalk. Ma'am, the floor is yours.

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Kara Jenny, [2]
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Hello, everyone, and welcome to the Paltalk Operating and Financial Results Conference Call for the second quarter ended June 30, 2024. By now, everyone should have access to the
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