Intelligent Protection Management Q3 revenue jumps on procurement demand
IPM•IPM•IPM•IPM•Intelligent Protection Management said Q3 revenue rose more than 75% year over year to $10.95 million, driven by procurement demand. Net loss narrowed to $779,378, while adjusted EBITDA turned positive at $159,201.
Q3 revenue rose more than 75% year over year to $10.95 million. The company reported a net loss of $779,378, compared with $1.1 million a year earlier, and adjusted EBITDA of $159,201, versus a loss of $300,000.
Procurement revenue increased 271% as customers accelerated investments in cybersecurity, cloud modernization, data center expansion and AI. The company said it fulfilled a significant customer order during the quarter. Core managed services revenue from non-affiliated customers rose 33% year over year.
The company did not provide specific financial guidance for current or future periods.
