NETWORK-1 TECHNOLOGIES, INC. NTIP
principal business is the development, licensing and protection of our intellectual property assets. We presently own one hundred nineteen
(119) U.S. patents, fifty-four (54) of such patents have expired, and fifteen (15) foreign patents (unexpired) relating to (i) our M2M/IoT
patent portfolio relating to, among other things, enabling technology for authenticating and using eSIM (embedded Subscriber Identification
Module) technology in IoT, Machine-to-Machine and other mobile devices, including smartphones, tablets and computers, as well as automobiles
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $150.0K | $100.0K | $2.6M | — | $36.0M | $4.4M | $3.0M | $22.1M | $16.5M | — |
| Cost of revenue | $42.0K | $28.0K | — | — | $12.1M | $1.7M | $882.0K | $8.1M | $5.0M | $25.8M |
| Gross profit | $108.0K | $72.0K | — | — | $23.9M | $2.8M | $2.2M | $14.0M | $11.5M | — |
| SG&A | $2.5M | $2.6M | $2.9M | $2.8M | $2.5M | $2.2M | $2.2M | $2.3M | $2.3M | $2.8M |
| Total operating expenses | $3.5M | $3.7M | $4.8M | $3.9M | $16.4M | $6.8M | $5.4M | $12.9M | $10.4M | $33.0M |
| Operating income | -$3.3M | -$3.6M | -$2.2M | -$3.9M | $19.6M | -$2.4M | -$2.4M | $9.2M | $6.0M | $32.1M |
| Interest expense | $1.8M | $1.9M | $1.9M | $1.0M | $327.0K | $522.0K | $1.1M | $876.0K | $215.0K | $61.0K |
| Pre-tax income | -$2.1M | -$2.6M | -$1.1M | -$1.7M | $19.7M | -$1.9M | -$1.2M | $10.0M | $6.2M | $32.2M |
| Income tax | $368.0K | $425.0K | $388.0K | $607.0K | $4.5M | $954.0K | $21.0K | $2.3M | $2.1M | $8.9M |
| Net income | -$2.4M | -$3.0M | -$1.5M | -$2.3M | $14.3M | -$1.7M | -$1.8M | $7.7M | $4.1M | $23.2M |
| EPS, basic | -0.11 | -0.13 | -0.06 | -0.10 | 0.59 | -0.07 | -0.07 | 0.32 | 0.17 | 1.00 |
| EPS, diluted | -0.11 | -0.13 | -0.06 | -0.10 | 0.58 | -0.07 | -0.07 | 0.30 | 0.16 | 0.93 |
| Shares, diluted (wtd. avg.) | $22.8M | $23.3M | $23.8M | $23.8M | $24.5M | $24.0M | $24.0M | $25.4M | $26.4M | $24.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $13.4M | $13.1M | $16.9M | $13.4M | $44.5M | $25.5M | $22.6M | $23.8M | $43.4M | $50.9M |
| Short-term investments | $23.5M | $27.5M | $28.6M | $35.0M | $15.1M | $19.4M | $25.7M | $31.2M | $10.8M | $1.1M |
| Receivables | — | — | — | — | — | $0 | $343.0K | $444.0K | $575.0K | $2.9M |
| Total current assets | $37.1M | $40.8M | $45.7M | $49.0M | $59.8M | $45.0M | $48.8M | $55.5M | $54.9M | $56.1M |
| Goodwill | — | — | — | — | $5.0M | $5.0M | $5.0M | $2.5M | — | — |
| Other intangibles | $1.5M | $1.2M | $1.3M | $1.6M | $1.4M | — | — | $2.0M | $2.2M | $1.2M |
| Total assets | $40.3M | $45.4M | $52.3M | $58.0M | $64.8M | $51.2M | $55.1M | $60.3M | $57.3M | $57.6M |
| Accounts payable | $253.0K | $203.0K | $125.0K | $507.0K | $459.0K | $597.0K | $421.0K | $67.0K | $244.0K | $171.0K |
| Total current liabilities | $770.0K | $766.0K | $823.0K | $1.6M | $4.1M | $2.0M | — | — | — | — |
| Total liabilities | $770.0K | $1.1M | $1.6M | $2.9M | $4.7M | $2.0M | $1.6M | $2.1M | $2.9M | $4.7M |
| Retained earnings | -$24.1M | -$21.4M | -$17.0M | -$12.1M | -$6.4M | -$17.2M | -$12.6M | -$7.1M | -$10.2M | -$9.7M |
| Total equity | $39.6M | $44.3M | $50.7M | $55.1M | $60.2M | $49.2M | $53.5M | $58.2M | $54.4M | $52.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$869.0K | -$1.1M | $331.0K | -$5.4M | $19.5M | -$503.0K | -$605.0K | $8.1M | $6.8M | $29.9M |
| Stock-based compensation | $307.0K | $399.0K | $508.0K | $585.0K | $238.0K | $302.0K | $567.0K | $687.0K | $949.0K | $509.0K |
| Investing cash flow | $3.7M | $1.0M | $6.5M | -$22.3M | $3.0M | $6.3M | $3.0M | -$23.1M | -$10.9M | — |
| Financing cash flow | -$2.6M | -$3.7M | -$3.4M | -$3.3M | -$3.5M | -$2.9M | -$3.6M | -$4.6M | -$3.4M | $446.0K |
| Dividends paid | $2.3M | $2.4M | $2.4M | $2.5M | $2.4M | $2.5M | $2.4M | $2.4M | $2.4M | — |
| Buybacks | $293.0K | $1.3M | $966.0K | $534.0K | $1.1M | $253.0K | $772.0K | $1.6M | $2.1M | $120.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001072613-26-000270.
Others in SIC 6794
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IDCC | InterDigital, Inc. | $8.72B | 28.6x | -4.0% |
| DLB | Dolby Laboratories, Inc. | $5.84B | 23.6x | 5.9% |
| APPS | Digital Turbine, Inc. | $1.30B | — | 15.2% |
| ACTG | ACACIA RESEARCH CORP | $443.0M | 20.6x | 133.2% |
| JYNT | JOINT Corp | $117.7M | 43.8x | 5.2% |
| VHC | VirnetX Holding Corp | $49.1M | — | 3,140.0% |
| RMCO | Royalty Management Holding Corp | $43.1M | — | 513.3% |
| REFR | RESEARCH FRONTIERS INC | $14.5M | — | -16.0% |