Significant Revenue Growth
Revenue for the second quarter of 2025 was $5.7 million, a substantial increase from $0.3 million in the prior year period. For the first six months of 2025, revenue totaled $11.2 million compared to $0.5 million in the prior year period.
Patent Litigation Award
A jury awarded IPM $65.7 million in a lawsuit against WebEx Communications, Cisco WebEx LLC, and Cisco Systems. The final judgment was entered in IPM's favor, although the exact amount to be received after litigation-related expenses is uncertain.
Strategic Partnerships and Initiatives
IPM was selected by Hewlett Packard Enterprise as an accredited partner for its HPE Private Cloud AI solution and initiated a collaboration with IT Ally. A stock repurchase plan for up to $400,000 was also approved.
Improved Financial Metrics
Adjusted EBITDA for the second quarter of 2025 was negative $0.4 million, an improvement from negative $0.9 million in the second quarter of 2024. The company's cash equivalents totaled $8.3 million with no long-term debt.