Professional Diversity Network Adds 1.5M Registered Users in Q2

Professional Diversity Network (NASDAQ: IPDN) announced its Q2 numbers on August 12, with revenue surging more than 900% year-over-year to $10.4 million. While much of this growth is attributable to the Company’s acquisitions of Noble Voice and NAPW (National Association of Professional Women) in late 2014, IPDN reported significant growth in registered users during the quarter, adding 1.5 million new users.

The Company also reported impressive gross margins of 84% while slashing operating expenses by nearly $1.5 million from the first quarter of the year, putting it well on pace to reach its previously stated goal of reaching more than $4 million in annual cost savings by the end of the third quarter.

Moving forward, IPDN is on solid financial footing to execute on its growth plans, with $6.4 million in cash and short-term investments reported as of June 30 and no long-term debt.

Commenting on the Company’s plans during its Q2 earnings call, CEO Jim Kirsch stated, “Our goal remains to build a profitable platform that can meet the large addressable market for providing economic opportunity to those we serve, including women, multicultural American’s, LGBT professionals, our nation’s heroes, our Veterans and their spouses.”

In July, Sergio Zlobin, VP of Technology at IPDN, stated, “For a technology company to achieve success it must grow its user base in an efficient and sustainable way. At IPDN our users are job seekers, and we have created a formula that allows us to add new users, at a declining marginal cost per user, while we are seeing similar growth in our employer partners. This means that we are growing supply (job seekers) while growing demand (employers), and matching the two in a manner we believe we can sustain and continue to grow.”

The combination of lower expenses, a rapidly expanding user base, and growing employer demand for its services bodes well for IPDN in the quarters ahead. With the stock trading at just over 1x trailing 12-month sales, investors have a great opportunity to see significant share price gains. Learn more about this exciting story by visiting:

Disclosure: RedChip Companies, Inc. research reports, company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RedChip reports, company profiles, or other investor relations materials and presentations are subject to change. RedChip Companies and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.
The information contained herein is not intended to be used as the basis for investment decisions and should not be construed as advice intended to meet the particular investment needs of any investor. The information contained herein is not a representation or warranty and is not an offer or solicitation of an offer to buy or sell any security. To the fullest extent of the law, RedChip Companies, Inc., our specialists, advisors, and partners will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of the information provided, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information provided to any person or entity (including but not limited to lost profits, loss of opportunities, trading losses and damages that may result from any inaccuracy or incompleteness of this information).
Stock market investing is inherently risky. RedChip Companies is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.
We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at
Professional Diversity Network (IPDN) is a client of RedChip Companies, Inc. IPDN agreed to pay RedChip Companies, Inc. a monthly cash fee, 50,000 warrants priced at $3.50 and 50,000 warrants priced at $4.00 for three (3) months of investor awareness services.
Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. RedChip investor awareness services include the preparation of a research profile(s), multimedia marketing, and other awareness services.

comments powered by Disqus

"I work with many of the companies that would be RedChip companies. And we certainly ascribe to the same view that the RedChip Companies do, which is Discovering Tomorrow's Blue Chips Today."

  • Bob McCooey, Senior Vice President The NASDAQ Stock Market