NASDAQ: IPDN
Professional Diversity Network, Inc.CIK 0001546296 · SIC 7370 · Computer & Data Processing
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IPDN pivots to music copyrights and Web 3.0 amid going-concern doubts and a dilutive $9.2M offering
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues: | ||||
| Membership fees and related services | 67,790 | 86,378 | 142,943 | 182,008 |
| Recruitment services | 580,992 | 880,207 | 1,212,515 | 1,796,541 |
| Contracted software development | 526,034 | 668,948 | 1,361,870 | 1,156,455 |
| Consumer advertising and marketing solutions | 6,480 | 5,957 | 12,044 | 11,072 |
| Total revenues | 1,181,296 | 1,641,490 | 2,729,372 | 3,146,076 |
| Costs and expenses: | ||||
| Cost of revenues | 719,330 | 928,780 | 1,732,665 | 1,647,986 |
| Sales and marketing | 338,722 | 493,773 | 759,327 | 1,064,840 |
| General and administrative | 671,297 | 674,795 | 1,443,264 | 1,553,492 |
| Depreciation and amortization | 1,192,583 | 40,686 | 2,388,334 | 81,643 |
| Total costs and expenses | 2,921,932 | 2,138,034 | 6,323,590 | 4,347,961 |
| Loss from continuing operations | (1,740,636) | (496,544) | (3,594,218) | (1,201,885) |
| Other income (expense) | ||||
| Interest and other income | 24,563 | 4,487 | 22,034 | (31,262) |
| Other income (expense), net | 24,563 | 4,487 | 22,034 | (31,262) |
| Loss before income tax expense (benefit) | (1,716,073) | (492,057) | (3,572,184) | (1,233,147) |
| Income tax expense (benefit) | - | - | - | - |
| Loss from continuing operations, net of tax | (1,716,073) | (492,057) | (3,572,184) | (1,233,147) |
| Net loss attributable to non-controlling interests | 5,898 | 16,092 | 7,012 | 35,120 |
| Net loss attributable to Professional Diversity Network, Inc. | (475,965) | (3,565,172) | (1,198,027) | |
| Other comprehensive loss, net of tax: | ||||
| Net loss attributable to Professional Diversity Network, Inc. | (1,710,175) | (475,965) | (3,565,172) | (1,198,027) |
| Comprehensive loss, net of tax | (1,710,175) | |||
| Basic and diluted loss per share: | ||||
| Net loss per share | (0.15) | (0.23) | (0.34) | (0.62) |
| Weighted-average outstanding shares used in computing net loss per common share: | ||||
| Basic and diluted | 11,338,888 | 2,110,059 | 10,468,680 | 2,000,903 |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | 141,831 | 216,954 |
| Restricted cash | 2,495,000 | 1,250,000 |
| Accounts receivable, net | 674,783 | 807,660 |
| Other receivables | - | 200,993 |
| Prepaid expense and other current assets | 118,361 | 84,190 |
| Total current assets | 3,429,975 | 2,559,797 |
| Property and equipment, net | 12,203 | 36,434 |
| Capitalized technology, net | 282,790 | 219,297 |
| Goodwill | 1,417,753 | 1,417,753 |
| Intangible assets, net | 7,317,732 | 9,629,008 |
| Right-of-use assets | 108,759 | 149,525 |
| Security deposits | 49,755 | 49,755 |
| Other assets | 5,166,000 | 3,806,000 |
| Total assets | 17,784,967 | 17,867,569 |
| Current Liabilities: | ||
| Accounts payable | 990,975 | 737,877 |
| Accrued expenses | 1,065,888 | 1,333,570 |
| Deferred revenue | 1,055,442 | 1,193,267 |
| Other current liabilities | 1,157,641 | 3,235,530 |
| Lease liability, current portion | 106,938 | 102,581 |
| Total current liabilities | 4,376,884 | 6,602,825 |
| Lease liability, non-current portion | 27,907 | 82,484 |
| Total liabilities | 4,404,791 | 6,685,309 |
| Commitments and contingencies | - | - |
| Stockholders’ Equity | ||
| Common stock, $0.0001 par value; 1,000,000,000 shares authorized, 12,830,375 and 7,298,358 shares issued as of June 30, 2026 and December 31, 2025, and 12,830,323 and 7,298,306 shares outstanding as of June 30, 2026 and December 31, 2025. | 1,283 | 730 |
| Additional paid in capital | 126,421,009 | 120,651,462 |
| Accumulated deficit | (112,430,846) | (108,865,674) |
| Treasury stock, at cost; 52 and 52 shares at June 30, 2026 and December 31, 2025 | (37,117) | (37,117) |
| Total Professional Diversity Network, Inc. stockholders’ equity | 13,954,329 | 11,749,401 |
| Noncontrolling interest | (574,153) | (567,141) |
| Total stockholders’ equity | 13,380,176 | 11,182,260 |
| Total liabilities and stockholders’ equity | 17,784,967 | 17,867,569 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Loss from continuing operations | (3,572,184) | (1,233,147) |
| Adjustments to reconcile net loss from continuing operations to net cash used in operating activities - continuing operations: | ||
| Depreciation and amortization | 2,388,334 | 81,643 |
| Noncash lease expense | 45,694 | 45,695 |
| Stock-based compensation expense | 61,986 | 21,964 |
| Provision for doubtful accounts | (26,568) | 18,416 |
| Unrealized loss on investment | - | 44,000 |
| Loss on disposal of property, plant and equipment | 18,670 | - |
| Changes in operating assets and liabilities, net of effects of discontinued operations: | ||
| Accounts receivable | 159,445 | 240,237 |
| Prepaid expenses and other current assets | 166,822 | (260,786) |
| Accounts payable | 253,098 | 557,362 |
| Accrued expenses | (267,682) | 29,130 |
| Other current liabilities | 10,296 | 313 |
| Lease liability | (55,148) | (53,922) |
| Deferred revenue | (137,825) | (270,556) |
| Net cash used in operating activities | (955,062) | (779,651) |
| Cash flows from investing activities: | ||
| Costs incurred to develop technology | (15,000) | - |
| Purchases of property and equipment | - | (3,997) |
| Payments to acquire investments | - | (1,300,000) |
| Purchases of intangible assets | - | - |
| Net cash used in investing activities | (15,000) | (1,303,997) |
| Cash flows from financing activities: | ||
| Proceeds from the sale of common stock | 1,495,000 | 399,413 |
| Proceeds from (Repayment of) short-term debt | 644,939 | 78,161 |
| Proceeds from Noncontrolling Interests | - | - |
| Net cash provided by (used in) financing activities | 2,139,939 | 477,574 |
| Net increase in cash, cash equivalents and restricted cash | 1,169,877 | (1,606,074) |
| Cash, cash equivalents and restricted cash, beginning of period | 1,466,954 | 1,731,155 |
| Cash, cash equivalents and restricted cash, end of period | 2,636,831 | 125,081 |
| Supplemental disclosures of other cash flow information: | ||
| Cash paid for income taxes | - | - |
| Non-cash stock issuance for additional interest in RemoteMore USA, Inc. | - | 300,000 |
| Non-cash amortization of commitment funding | - | 187,500 |
| Noncash acquisition of Capitalized Technology | 119,990 | - |
| Conversion from Note Payable to Common Stock | 139,344 | - |
| Stock issued for previous acquired DTT Tokens | 2,593,780 | - |
| Stock issued for investment in AI Geometric LTD | 1,360,000 | |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗