Professional Diversity Network, Inc. SEC 10-Q Report

Professional Diversity Network, Inc., a company specializing in diversity-focused recruitment and professional networking services, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial performance and operational activities amidst a challenging economic environment.

Financial Highlights

Total Revenues: $1.641 million, a decrease of 2.9% compared to the same period last year, primarily due to a slowdown in corporate spending on diversity, equity, and inclusion initiatives.

Net Loss: $(0.476) million, reflecting a decrease in recruitment services revenue and membership fees.

Net Loss Per Share: $(0.23), compared to $(0.50) in the same period last year, indicating a reduction in loss per share.

Business Highlights

Revenue Segments: The company operates in three business segments: TalentAlly Network, NAPW Network, and RemoteMore. TalentAlly Network focuses on online professional job-seeking communities, NAPW Network is a women-only professional networking organization, and RemoteMore connects companies with remote software developers.

TalentAlly Network Performance: During the three months ended June 30, 2025, TalentAlly Network generated approximately $887,000 in revenues, a decrease of 23.0% compared to the same period in 2024. This decline is attributed to reduced corporate spending on diversity-focused recruitment services.

NAPW Network Performance: NAPW Network revenues were approximately $86,000 for the three months ended June 30, 2025, down 21.1% from the prior year. The decline is due to lower renewal rates and reduced acquisition of new members in a competitive market.

RemoteMore Performance: RemoteMore reported revenues of approximately $668,000 for the three months ended June 30, 2025, an increase of 55.7% from the previous year. This growth is driven by increased demand for remote software developers as companies adopt flexible staffing models.

Future Outlook: The company anticipates challenges in recruitment services due to a shifting political and legal landscape affecting diversity, equity, and inclusion initiatives. However, it expects continued growth in RemoteMore as demand for remote software development remains strong.

SEC Filing: Professional Diversity Network, Inc. [ IPDN ] - 10-Q - Aug. 14, 2025