Paltalk (PALT) News & Sentiment

BOCA RATON, Fla., Dec. 30, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (“the Company”) (NASDAQ: NEWT) and Paltalk, Inc. (“Paltalk”) (Nasdaq: PALT) will host a conference call on January 2, 2025, to discuss the anticipated January 2, 2025 closing of Paltalk's acquisition (the “Acquisition”) of Newtek Technology Solutions, Inc. (“NTS”). Earlier today, Paltalk announced that Paltalk's shareholders voted to approve proposals required to close the Acquisition, which closing is presently scheduled for January 2, 2025. As previously disclosed, in connection with NewtekOne's acquisition of Newtek Bank and transition to a financial holding company, NewtekOne made a commitment to the Board of Governors of the Federal Reserve System to divest or terminate the activities of NTS, which manages information technology hardware and software for approximately 17,000 customers.

Paltalk, Inc. (NASDAQ:PALT ) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Kara Jenny - Chief Financial Officer Jason Katz - Chief Executive Officer Conference Call Participants Operator Greetings, and welcome to the Paltalk Third Quarter 2024 Results Conference Call. At this time, all participants are on a listen-only mode.

NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Paltalk, Inc. ( N asdaq: PALT ) , relating to its proposed merger with Newtek Technology Solutions, Inc. Under the terms of the agreement, Paltalk has agreed to pay Newtek an amount in cash equal to $4,000,000, subject to customary purchase price adjustments, and issue Newtek 4,000,000 shares of a newly created series of Paltalk's preferred stock, the Series A Non-Voting Common Equivalent Stock. The newly created preferred stock will automatically convert into one share of Paltalk common stock upon the occurrence of certain qualifying dispositions by Newtek.

JERICHO, N.Y. , Oct. 11, 2024 (GLOBE NEWSWIRE) -- Paltalk, Inc. (“Paltalk,” the “Company,” “we,” our,” or “us”) (NASDAQ: PALT), announced today that on October 8, 2024, an order granting a motion for final judgment (the “Final Judgment”) was entered into in the District Court for the Western District of Texas (the “Court”) in connection with the Company's patent infringement lawsuit (the “Lawsuit”) against Cisco Systems, Inc. (“Cisco”).

JERICHO, NY, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Paltalk, Inc. (“Paltalk,” the “Company,” “we,” “our” or “us”) (Nasdaq: PALT), a communications software innovator that powers multimedia social applications, today announced that a jury in the District Court for the Western District of Texas (the “Court”) has awarded the Company $65.7 million in a verdict against Cisco Systems, Inc. (“Cisco”) for infringing U.S. Patent No. 6,683,858.

Paltalk, Inc. (NASDAQ:PALT ) Q2 2024 Earnings Conference Call August 13, 2024 4:30 PM ET Company Participants Kara Jenny - Chief Financial Officer Jason Katz - Chief Executive Officer Conference Call Participants Operator Greetings, and welcome to the Paltalk Second Quarter 2024 Results Conference Call. At this time, all participants are on a listen-only mode.

Cash Balance of $12.8 Million at June 30, 2024 JERICHO, NY, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Paltalk, Inc. (“Paltalk,” the “Company,” “we,” “our” or “us”) (Nasdaq: PALT), a communications software innovator that powers multimedia social applications, today announced financial and operational results for the second quarter ended June 30, 2024. Key Financial Highlights for Second Quarter Ended June 30, 2024 Compared to Prior Year Period Revenue decreased 24.7% to $2.2 million Subscription revenue decreased 26.1% to $2.1 million Advertising revenue increased 29.2% to $0.1 million Net loss was $0.9 million compared to a net income of $0.1 million, a decline of 788.8% Adjusted EBITDA1 loss was $0.9 million compared to Adjusted EBITDA1 loss of $14,945 Cash balance decreased $0.2 million from the first quarter of 2024 to $12.8 million Key Financial Highlights for the Six Months Ended June 30, 2024 Compared to Prior Year Period Revenue decreased 12.6% to $4.8 million Subscription revenue decreased 14.4% to $4.6 million Advertising revenue increased 59.6% to $0.2 million Net loss was $1.4 million compared to a net loss of $0.6 million, an increase of 136.7% Adjusted EBITDA1 loss was $1.4 million compared to Adjusted EBITDA1 loss of $0.7 million Net cash used in operating activities for the six months ended decreased 22.5% to $0.8 million Deferred revenue decreased 12.6% to $1.9 million as of June 30, 2024 compared to June 30, 2023 The Company had $12.8 million in cash and no long-term debt on its balance sheet as of June 30, 2024 Operational Highlights Entered into an Agreement and Plan of Merger (the “Agreement”) to acquire Newtek Technology Solutions, Inc. (“NTS”) from NewtekOne, Inc. (“Newtek”), the sole stockholder of NTS, through a two-step merger process.

NewtekOne (NEWT) enters an agreement to sell its wholly-owned subsidiary to Paltalk.

BOCA RATON, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (“NewtekOne” or the “Company”) (Nasdaq: NEWT) has entered into a definitive agreement (the “Agreement”) to sell its wholly owned subsidiary Newtek Technology Solutions, Inc. (“NTS”) to Paltalk, Inc. (“Paltalk”) (Nasdaq: PALT) (the “NTS Sale”). As previously disclosed, in connection with Company's acquisition of Newtek Bank and transition to a financial holding company, the Company made a commitment to the Board of Governors of the Federal Reserve System to divest or terminate the activities of NTS, which manages information technology hardware and software for approximately 17,000 customers.