CHICAGO, May 14, 2025 (GLOBE NEWSWIRE) -- Professional Diversity Network, Inc. (NASDAQ: IPDN), (“IPDN” or the “Company”), a global developer and operator of online and in-person networks that provides access to networking, training, educational and employment opportunities for diverse individuals, today announced its financial results for the quarter ended March 31, 2025. “Despite ongoing market challenges, we have attracted increased investor interest, driven by enhanced operational efficiency and stronger ...

Revenue Performance - Total revenues for Q1 2025 decreased by approximately $222,000, or 12.9%, to approximately $1,505,000 compared to $1,727,000 in Q1 2024[3] - Recruitment services revenue decreased by approximately $188,000, or 17.0%, to approximately $916,000 in Q1 2025 from $1,104,000 in Q1 2024[12] - TalentAlly Network generated approximately $921,000 in revenues in Q1 2025, a decrease of approximately $194,000, or 17.4%, from $1,115,000 in Q1 2024[4] - RemoteMore revenue increased slightly by approximately $3,000, or 0.6%, to approximately $488,000 in Q1 2025 from $485,000 in Q1 2024[5] Financial Losses - The consolidated net loss from continuing operations for Q1 2025 was approximately $741,000, a decrease of $66,000, or 8.2%, compared to a net loss of $807,000 in Q1 2024[9] Cash and Current Assets - Cash and cash equivalents decreased to $496,000 as of March 31, 2025, down from $1,731,000 as of December 31, 2024[11] - Total current assets decreased to $1,787,000 as of March 31, 2025, compared to $3,227,000 as of December 31, 2024[11] Expense Management - Sales and marketing expenses decreased by approximately $259,000, or 31.2%, to approximately $571,000 in Q1 2025 from $830,000 in Q1 2024[7] - General and administrative expenses decreased by approximately $116,000, or 11.7%, to approximately $879,000 in Q1 2025 from $995,000 in Q1 2024[8] Investment Activities - The company invested $1.3 million in AI Geometric Ltd., acquiring a 13% equity stake to enhance its AI-driven recruitment ecosystem[2]

Revenue Performance - Total revenues for Q1 2025 decreased by approximately $222,000, or 12.9%, to approximately $1,505,000 from approximately $1,727,000 in Q1 2024[144] - Recruitment services revenue decreased by approximately $188,000, or 17.0%, primarily due to Executive Orders targeting diversity, equity, and inclusion programs[144] - Membership fees and related services revenue decreased by approximately $31,000, or 24.4%, from $127,000 in Q1 2024 to $96,000 in Q1 2025[147] - TalentAlly Network generated approximately $921,000 in revenues, a decrease of approximately $194,000, or 17.4%, compared to Q1 2024[146] - NAPW Network revenues decreased by approximately $31,000, or 24.4%, from approximately $127,000 in Q1 2024 to $96,000 in Q1 2025[147] - RemoteMore revenue increased by approximately $3,000, or 0.6%, from approximately $485,000 in Q1 2024 to 488,000 in Q1 2025[147] Cost and Expense Management - Cost of revenues increased by approximately $66,000, or 10.1%, to approximately $719,000 in Q1 2025 from $653,000 in Q1 2024[150] - Total costs and expenses decreased by approximately $320,000, or 12.6%, to approximately $2,210,000 in Q1 2025 from $2,530,000 in Q1 2024[149] - Sales and marketing expenses decreased by approximately $259,000, or 31.2%, from $830,000 in Q1 2024 to $571,000 in Q1 2025[151] - General and administrative expenses decreased by approximately $116,000, or 11.7%, to approximately $879,000 in Q1 2025 from $995,000 in Q1 2024[152] - Corporate overhead costs increased by approximately $33,000, or 6.6%, primarily due to higher legal and investor relations expenses[159] Financial Performance - For the three months ended March 31, 2025, the consolidated net loss from continuing operations was approximately $741,000, a decrease of 8.2% compared to a net loss of approximately $807,000 for the same period in 2024[162] - Cash and cash equivalents decreased to approximately $496,000 as of March 31, 2025, from approximately $1,731,000 at December 31, 2024, indicating a significant decline in liquidity[164] - Net cash used in operating activities during the three months ended March 31, 2025, was approximately $284,000, an improvement from $543,000 in the same period of 2024[175] - The company incurred approximately $1,300,000 in net cash used in investing activities during the three months ended March 31, 2025, primarily related to an investment in AI Geometric Ltd[177] - Adjusted EBITDA for the three months ended March 31, 2025, was approximately $(608,000), compared to $(653,000) for the same period in 2024, reflecting a slight improvement[181] - The company raised approximately $349,000 in net cash from financing activities during the three months ended March 31, 2025, compared to $95,000 in the same period of 2024[178] - The accumulated deficit as of March 31, 2025, was approximately $103,000,000, indicating significant financial challenges[164] Accounting and Reporting - Goodwill is tested for impairment annually and when circumstances change, considering market capitalization and carrying value of assets and liabilities[192] - Capitalized technology costs are amortized over a straight-line basis, generally not exceeding three years[195] - Revenue from recruitment services is recognized when services are performed, with revenue derived from various agreements including job postings and corporate memberships[197] - Consumer marketing and advertising revenue is recognized based on fixed fees or impressions recorded on websites[198] - Revenue from NAPW Network membership subscriptions is recognized ratably over a 12-month period, with fees collected at the start of the membership[199] - Approximately 2% and 6% of recruitment services revenue for the three months ended March 31, 2025 and 2024, respectively, came from an alliance with another company[202] - Operating lease liabilities represent the present value of lease payments not yet paid, with lease expenses recognized on a straight-line basis[206] - Recent accounting pronouncements include ASU 2023-09, effective for fiscal years beginning after December 15, 2024, enhancing income tax disclosures[208] - ASU 2024-03 requires disaggregated disclosures of certain expense categories, effective for annual reporting periods beginning after December 15, 2026[209] - The company is currently evaluating the impact of recent accounting standards on its disclosures[208] Going Concern - The company continues to face negative cash flows from operations and expects to incur net losses for the foreseeable future, raising doubts about its ability to continue as a going concern[168]

CHICAGO, April 29, 2025 (GLOBE NEWSWIRE) -- TalentAlly, a business unit of Professional Diversity Network, Inc. (NASDAQ: IPDN) and a leading provider of inclusive recruitment solutions and job board services in the United States, proudly celebrates the 10th anniversary of its partnership with disABLEDperson, Inc., one of the nation’s premier disability-focused job boards. Since forming the collaboration in 2014, TalentAlly and disABLEDperson have worked together to expand access to meaningful, rewarding emp ...

Core Insights - TalentAlly has been recognized as a finalist for two DJAx Awards: the Technology Innovation Award and the Best Customer Success Team Award, highlighting its commitment to innovation and exceptional service in the recruitment industry [1][7]. Group 1: Technology Innovation - The Technology Innovation Award acknowledges organizations that effectively utilize technology to improve the recruitment process for job seekers and employers [2]. - With 83% of companies expected to adopt AI in hiring by the end of 2025, TalentAlly has partnered with AI Geometric to provide AI-powered virtual interview practice and resume reviews, enhancing job seekers' market readiness [3]. - This AI-driven platform allows candidates to refine their resumes and practice interviews in a supportive environment, ultimately improving their presentation to employers [4]. Group 2: Customer Success - The Best Customer Success Team Award recognizes organizations that deliver outstanding client support and measurable recruitment outcomes [5]. - TalentAlly assigns a dedicated Customer Success Manager to each enterprise client, focusing on maximizing job views, application starts, conversions, and hires through tailored strategies [6]. - The customer success team enhances engagement via targeted email campaigns, banner advertising, and curated diversity profile pages, utilizing over 20 inclusive partner job boards and various recruitment events [6]. Group 3: Leadership Perspective - Russell Esquivel Jr., President of TalentAlly, emphasized that the recognition reflects the team's dedication to innovation and service, particularly through the partnership with AI Geometric [7]. - He also acknowledged the Customer Success team's expertise and commitment, which have significantly contributed to employers achieving excellent recruitment results [8].

Stock Splits - Effective January 5, 2023, the company implemented a 2-for-1 reverse stock split, adjusting all share amounts and prices accordingly[19] - A second reverse stock split of 10-for-1 is scheduled for March 13, 2025, with similar adjustments to share amounts and prices[20] Forward-Looking Statements - The company emphasizes that actual results may differ materially from forward-looking statements made in the annual report[18]

Core Insights - Expo Experts, a sub-brand of TalentAlly, has launched a new product called Clearance Match, aimed at reducing costs and logistical challenges in hiring security cleared talent [1][5] - The demand for security clearance jobs is projected to increase by 7-10% through 2025, highlighting the growing need for individuals with active security clearance [2] - Clearance Match efficiently connects job seekers with recruiters, streamlining the recruitment process in the security clearance industry [2][3] Company Overview - Expo Experts specializes in STEM-focused recruitment and has over 20 years of experience in facilitating connections between employers and niche candidates [6] - The company was acquired by TalentAlly in January 2023, enhancing its capabilities in delivering industry-specific hiring solutions [7] - TalentAlly operates networks that provide access to diverse employment opportunities, aiming to bridge the gap between diverse individuals and inclusive companies [8] Product Features - Clearance Match allows employers to reduce hiring costs by connecting them with candidates who already possess security clearance, thus eliminating the need for employers to incur clearance costs [3] - The platform enables employers to search for candidates based on specific criteria such as security clearance level, skills, location, and salary expectations [3] - Job seekers can create profiles to match with employers or actively apply for jobs, maximizing their career opportunities [4]

Core Insights - Professional Diversity Network, Inc. (PDN) has made a strategic investment of $1.3 million in AI Geometric Ltd., acquiring a 13% equity stake, aimed at enhancing the technological infrastructure of its recruitment platform, TalentAlly LLC [1][5] - The collaboration with AI Geometric is designed to improve the recruitment process by automating job applications, candidate screening, and interview preparation, thereby benefiting both job seekers and employers [1][2][3] Investment Details - The investment of $1.3 million was finalized on January 27, 2025, and is expected to significantly enhance TalentAlly's AI-driven recruitment ecosystem [1] - This partnership is anticipated to facilitate 1 million job placements by 2026, representing a projected economic impact of $5 billion [5] Recruitment Process Enhancement - TalentAlly aims to redefine connections between job seekers and employers by utilizing AI tools for direct engagement, managing inquiries, and conducting interviews [3] - The integration of AI Geometric's technology will provide job seekers with a one-week free trial for AI-powered virtual interview practice and resume optimization, enhancing candidate preparedness [4] Market Positioning - TalentAlly differentiates itself in the competitive job board market by offering advanced services that streamline recruitment processes and improve hiring outcomes for employers [4][6] - The collaboration is expected to create new revenue streams through enhanced employer services, positioning TalentAlly as a leader in the recruitment platform space [4][6] Company Overview - Professional Diversity Network, Inc. operates through subsidiaries including TalentAlly LLC, which focuses on providing diverse professionals with access to networking, training, and employment opportunities [8][9] - AI Geometric Ltd. specializes in transforming talent acquisition with an AI-driven recruitment ecosystem that automates job applications and improves hiring outcomes for businesses [11]

Core Insights - Professional Diversity Network, Inc. (PDN) announced a strategic investment of $1.3 million in AI Geometric Ltd., acquiring a 13% equity stake, aimed at enhancing its recruitment platform TalentAlly with advanced AI technology [1][5][12] - The collaboration with AI Geometric is designed to improve the recruitment process by automating job applications, candidate screening, and interview preparation, thereby benefiting both job seekers and employers [2][3][7] Investment Details - PDN's investment of $1.3 million in AI Geometric Ltd. secures a 13% equity stake as of January 27, 2025 [1][5] - The investment is expected to significantly enhance the technological infrastructure of TalentAlly, PDN's flagship recruitment platform [1][5] Market Context - The job market is currently facing significant challenges, with over 250 million individuals seeking employment globally [2] - TalentAlly aims to bridge the gap between job seekers and employers, facilitating efficient and high-quality hiring processes [2][3] Technological Integration - The integration of AI Geometric's technology will allow TalentAlly to offer features such as automated job applications, intelligent candidate screening, and interactive interview preparation [1][4][12] - Job seekers will benefit from a one-week free trial of AI-powered virtual interview practice sessions and resume optimization [4] Strategic Goals - The partnership aims to redefine connections between job seekers and employers by eliminating communication barriers and enhancing engagement through AI tools [3][7] - AI Geometric's goal is to facilitate 1 million job placements by 2026, representing a $5 billion economic impact [5]

Revenue Performance - For the three months ended September 30, 2024, total revenues decreased approximately $314,000, or 15.6%, to approximately $1,694,000 compared to approximately $2,008,000 during the same period in the prior year[8]. - For the nine months ended September 30, 2024, total revenues were $5,111,000, a decrease of $694,000, or 12.0%, compared to $5,805,000 in the prior year[17]. - RemoteMore experienced a revenue decline of approximately 31.6% for the nine months ended September 30, 2024, totaling $1,304,000 compared to $1,907,000 in the prior year[3][17]. - The NAPW Network reported a revenue decrease of 15.7% for the nine months ended September 30, 2024, totaling $337,000 compared to $400,000 in the prior year[4][17]. Expenses and Losses - The consolidated net loss from continuing operations for the three months ended September 30, 2024 decreased by approximately $898,000, or 68%, to approximately $422,000 compared to a net loss of approximately $1,320,000 during the same period in the prior year[5][14]. - Cost of revenues for the three months ended September 30, 2024 was approximately $697,000, a decrease of approximately $226,000, or 24.5%, from approximately $923,000 during the same period of the prior year[12][19]. - General and administrative expenses decreased by approximately $622,000, or 46.0%, to approximately $731,000 for the three months ended September 30, 2024, compared to approximately $1,353,000 in the prior year[13]. - Stock-based compensation for the three months ended September 30, 2024, was $28 thousand, down from $199 thousand in the same period of 2023, a reduction of 86%[24]. - Depreciation and amortization for the three months ended September 30, 2024, was $56 thousand, down from $149 thousand in the same period of 2023, a decline of 62%[24]. Cash Flow and Equity - The company reduced net cash used in operating activities from continuing operations for the nine months ended September 30, 2024, to approximately $1.32 million, a reduction of approximately $1.09 million compared to the same period in the prior year[7]. - The total stockholders' equity decreased to $2,105,000 as of September 30, 2024, down from $3,048,000 as of December 31, 2023[16]. Adjusted Metrics - Adjusted EBITDA for the nine months ended September 30, 2024, was $(1,443) thousand, compared to $(3,104) thousand for the same period in 2023, indicating a 53% improvement[24]. - Loss attributable to noncontrolling interest for the nine months ended September 30, 2024, was $65 thousand, a decrease from $92 thousand in the same period of 2023, reflecting a 29% improvement[24]. - Income tax benefit for the nine months ended September 30, 2024, was $6 thousand, compared to a tax expense of $(17) thousand in the same period of 2023, indicating a positive shift[24]. Company Strategy and Outlook - The company operates subsidiaries including the National Association of Professional Women (NAPW) and the International Association of Women (IAW), focusing on diverse professional networking and development[25]. - The company aims to be a leader in business diversity recruiting and professional development for underrepresented groups globally[25]. - Forward-looking statements indicate potential risks and uncertainties that may affect future performance, as detailed in the company's Annual Report on Form 10-K[26]. - Investor inquiries can be directed to the company via email or phone for further information[26].