Intelligent Protection Management Corp. (IPM) reported significant financial developments in its quarterly filing for the period ending March 31, 2025. The company generated total revenue of $5.5 million, a substantial increase of 1931.9% compared to $271,572 in the same period last year. This surge in revenue is attributed to the acquisition of Newtek Technology Solutions, Inc. (NTS), which was completed on January 2, 2025, and the subsequent integration of its operations into IPM's business model. The revenue from subscription sales of the ManyCam software also saw a modest increase of 3.6%, reflecting a growing user base.
Despite the increase in revenue, IPM reported a loss from continuing operations of $1.3 million for the quarter, which included $0.9 million in non-cash expenses related to amortization and depreciation. This compares to a loss of $1.0 million in the same quarter of the previous year. The net income for the quarter was $808,530, a turnaround from a net loss of $492,307 in the prior year, primarily due to a significant income tax benefit of approximately $2.1 million resulting from the acquisition.
Operationally, the company has expanded its workforce significantly, increasing from four employees in the previous year to approximately 41 as of March 31, 2025. This increase is part of the company's strategy to enhance its service offerings in managed IT security, professional services, and cloud hosting. The acquisition of NTS has also led to a notable rise in costs, with total expenses increasing by 436.7% to $6.9 million, driven by costs associated with the new revenue streams and increased operational activities.
Looking ahead, IPM aims to continue integrating its IT-related solutions and optimize cross-selling opportunities with ManyCam. The company has also approved a stock repurchase plan of up to $400,000 to manage dilution from equity awards. With $9.7 million in cash and cash equivalents on hand and no long-term debt, IPM is positioned to meet its financial obligations and pursue further growth opportunities, including potential acquisitions that align with its strategic objectives.
About INTELLIGENT PROTECTION MANAGEMENT CORP.
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