Network-1 Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:53 pm EDT
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Network-1 Technologies, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.283 million. Net loss was USD 0.476 million compared to USD 1.53 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to USD 0.06 a year ago.
For the six months, sales was USD 0.82 million. Net loss was USD 1.1 million compared to USD 2.84 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.12 a year ago.
Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. The Company works with inventors and patent owners to assist in the development and monetization of their patented technologies. It owns 100 United States patents covering various telecommunications and data networking technologies, as well as technologies relating to document stream operating systems, the identification of media content and high frequency trading. It also owns 15 foreign patents relating to patents within its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio, Mirror World Patent Portfolio and its Remote Power Patent. Its Cox Patent Portfolio consists of 39 United States patents relating to enabling technology for identifying media content on the Internet, such as audio and video, and taking further actions to be performed based on such identification.