IPDN

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 cost control measures. Since December, our new investor, Aurous Vertex Limited, has committed approximately $1.8 million to the company,” said Adam He, CEO of Professional Diversity Network, Inc. “At the same time, we are advancing the transformation of our platform’s technological infrastructure through AI integration and strategic revenue diversification. To support this initiative, we invested $1.3 million in AI Geometric Ltd., securing a 13% equity stake to further strengthen our AI-driven recruitment ecosystem.” First Quarter Financial Highlights: The consolidated net loss from continuing operations for the three months ended March 31, 2025 decreased approximately $66,000 or 8.2%, as compared to the same period in the prior year. Net cash used in operating activities from continuing operations for the three months ended March 31, 2025, was approximately $284,000, a reduction of approximately $259,000 compared to the same period in the prior year. Financial Results for the Three Months Ended March 31, 2025 Revenues Total revenues for the three months ended March 31, 2025 decreased approximately $222,000, or 12.9%, to approximately $1,505,000 from approximately $1,727,000 during the same period in the prior year. The decrease was predominantly attributable to an approximate $188,000 decrease in recruitment services due to the Executive Orders targeting diversity, equity, and inclusion programs in the public and private sectors and an approximate $31,000 decrease in membership and related services. During the three months ended March 31, 2025, our TalentAlly network generated approximately $921,000 in comparable revenues compared to approximately $1,115,000 in revenues during the three months ended March 31, 2024, a decrease of approximately $194,000 or 17.4%. During the three months ended March 31, 2025, NAPW network revenues were approximately $96,000...