Network-1 Technologies, Inc. (NTIP): Business Model Canvas [Dec-2025 Updated]

You're digging into the financials of Network-1 Technologies, Inc. (NTIP) and wondering how a firm with only $150,000 in revenue for the first nine months of 2025 keeps the lights on and pays shareholders. Honestly, this isn't a typical operating business; it's a pure-play intellectual property (IP) monetization engine, and the Business Model Canvas shows exactly why. The whole structure runs on enforcing its 115 U.S. patents through strategic litigation, which explains why they sit on a war chest of $37,097,097,000 in cash and marketable securities as of Q3 2025. It's all about high-stakes settlements and returning capital. This model is unique, so let's break down the nine blocks that make this IP machine tick.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Key Partnerships

You're looking at the structure that supports Network-1 Technologies, Inc.'s (NTIP) core business of acquiring and monetizing intellectual property. These partnerships are critical for sourcing assets and defending their value.

Inventors and Patent Owners for IP Acquisition

Network-1 Technologies, Inc. works directly with inventors and patent owners to develop and monetize their patented technologies. As of February 28, 2025, Network-1 Technologies, Inc. owned a total of 106 U.S. patents and 16 international patents across its various portfolios. The company has a history of significant monetization from these arrangements; for example, the Remote Power Patent generated licensing revenue in excess of $188,000,000 from May 2007 through December 31, 2024.

M2M and IoT Technologies, LLC for Portfolio Acquisition and Revenue Sharing

A key partnership for IP sourcing is with M2M and IoT Technologies, LLC. Network-1 Technologies, Inc. acquired the 'Smart Home Patent Portfolio' from this entity on March 31, 2025. This portfolio included 8 issued U.S. patents and 1 international patent, alongside 11 U.S. pending patent applications and 5 pending international patents. For a separate, earlier portfolio acquired from M2M and IoT Technologies, LLC, Network-1 Technologies, Inc. has specific ongoing financial obligations:

• 14% of the first $100 million of net proceeds from Monetization Activities (after expense deduction).
• 5% of net proceeds greater than $100 million from Monetization Activities.
• A payment of $250,000 upon the occurrence of certain future events related to that patent portfolio.

The M2M/IoT Patent Portfolio is currently subject to litigation, with Network-1 Technologies, Inc. commencing a lawsuit against Samsung Electronics Co., LTD and Samsung Electronics America, Inc. on June 27, 2025, alleging infringement of certain patents within this portfolio.

HFT Solutions, LLC, a Wholly-Owned Subsidiary, for High-Frequency Trading IP

The High-Frequency Trading (HFT) intellectual property is held within HFT Solutions, LLC, a wholly-owned subsidiary. This portfolio was acquired in March 2022. As of October 8, 2024, this portfolio contained 11 issued U.S. patents and 2 pending U.S. patent applications, with patent terms expected to extend until 2040. HFT Solutions, LLC initiated patent litigation in December 2024 concerning 3 of these patents against Citadel Securities, LLC and Jump Trading, LLC.

Institutional Investors like Cannell Capital LLC

Institutional investors form a key part of the ownership structure. Cannell Capital LLC holds a reported stake of 4.695%, representing 1,070,123 shares, valued at approximately $2 million based on the data point. Overall, 44 institutional owners and shareholders have filed 13D/G or 13F forms, holding a total of 4,706,713 shares as of September 26, 2025. The share price on September 26, 2025, was $1.51 per share.

Specialized Outside Legal Counsel for Complex Patent Litigation

While specific law firms are not named, the reliance on specialized counsel is evident through associated costs. Network-1 Technologies, Inc.'s operating expenses included a decrease of $846,000 in costs of revenue related to contingent legal fees for the year ended December 31, 2024, compared to 2023, due to decreased litigation settlement revenue. For the first quarter of 2025, professional fees decreased by $98,000 compared to the first quarter of 2024, due to a decrease in litigation spending.

Key Patent Portfolio Statistics

As of June 30, 2025, Network-1 Technologies, Inc.'s liquidity included cash and marketable securities of $38,485,000. The company has a Share Repurchase Program, with $4,994,853 remaining authorized for repurchase as of June 30, 2025.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Key Activities

You're looking at the core actions Network-1 Technologies, Inc. takes to keep its intellectual property engine running and return capital. It's a focused operation, heavily weighted toward legal and financial management of its assets.

Strategic patent litigation and enforcement against alleged infringers

The primary activity here is actively pursuing alleged infringers across its specialized patent portfolios. This is event-driven, meaning revenue spikes when settlements or judgments occur, which is reflected in the year-to-date top line.

For the nine months ended September 30, 2025, Network-1 Technologies, Inc. reported revenue of $150,000, which came entirely from settlements related to the Remote Power Patent. This compares to $100,000 for the same period in 2024. The company's operational spending related to these actions showed some fluctuation; for instance, Q1 2025 operating expenses decreased by $123,000 year-over-year, largely due to a $98,000 decrease in professional fees tied to litigation spending. Still, enforcement remains a current focus.

Recent enforcement actions in 2025 include:

• Commencing patent litigation against OptiverUS LLC and Optiver Trading US LLC on September 8, 2025, concerning the HFT Patent Portfolio.
• Initiating patent litigation against Samsung Electronics Co., LTD and Samsung Electronics America, Inc. on June 17, 2025, regarding the M2M/IoT Patent Portfolio (e.g., eSIM and 5G technologies).

Acquisition and development of new, high-quality patent portfolios (e.g., Smart Home)

Network-1 Technologies, Inc. continues to build out its asset base by acquiring portfolios it believes have significant monetization potential. This is a strategic move to diversify revenue sources beyond the Remote Power Patent.

The most recent reported acquisition in 2025 was a Smart Home Patent Portfolio on March 31, 2025. This deal added specific assets to the company's intellectual property holdings:

The company's overall strategy in 2025 centers on monetizing four key portfolios: M2M/IoT, HFT, Cox, and the newly added Smart Home portfolio. To give you context on the scale of the M2M/IoT portfolio as of June 30, 2025, it included 41 issued U.S. patents and 6 pending U.S. applications, alongside 15 issued non-U.S. patents.

Active management of a large cash and marketable securities portfolio

Given the lumpy nature of patent litigation revenue, managing the balance sheet liquidity is a critical, ongoing activity. The company maintains a substantial reserve to fund operations and potential legal costs.

As of the end of the third quarter, September 30, 2025, Network-1 Technologies, Inc. held $37,097,000 in cash and cash equivalents and marketable securities. This strong liquidity position supported management's affirmation that it could fund operations for the next twelve months. The working capital position at that date was $36,856,000. The income generated from these holdings provides a steady, non-litigation-dependent offset to operating losses.

Capital return to shareholders via dividends and share repurchases

Network-1 Technologies, Inc. actively manages its capital structure by returning cash to shareholders through both regular dividends and opportunistic share buybacks, signaling confidence in its underlying asset value.

The company maintained its commitment to shareholder returns through the third quarter of 2025:

• The Board declared and paid a semi-annual dividend of $0.05 per share on September 29, 2025.
• During the third quarter of 2025, 56,705 shares were repurchased at a total cost of $78,428.
• For the first nine months of 2025, a total of 208,178 shares were repurchased at an average price of $1.35 per share.
• As of September 30, 2025, $4,916,425 remained authorized for repurchase under the existing program.

Separately, on June 17, 2025, the Board extended the program, authorizing up to an additional $5 million in share repurchases over the subsequent two years. Since the program's inception in August 2011 through March 31, 2025, the company had acquired 10,480,894 shares at an average price of $1.92 per share.

Patent maintenance and portfolio defense in inter partes review (IPR) proceedings

Keeping the patent portfolio valid and defensible requires ongoing administrative and legal work, though specific IPR filing or defense costs for 2025 aren't itemized separately from general litigation spend. The overall reduction in professional fees in Q1 2025 suggests some level of cost control or reduced activity in certain defense areas compared to the prior year. The company's strategy involves defending its core assets, such as the HFT Portfolio patents with expiration dates extending to February 2040, and the M2M/IoT patents expiring between September 2033 and May 2034.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Key Resources

Network-1 Technologies, Inc. possesses a core asset base centered on its intellectual property, which is actively managed for monetization through licensing and litigation. The firm's extensive IP portfolio is a primary resource.

The intellectual property foundation includes a substantial number of granted patents, which management focuses on developing and protecting. This resource base is quantified as follows:

Liquidity is a significant enabling resource for Network-1 Technologies, Inc., allowing the company to sustain operations and pursue its strategic goals without immediate external financing pressure. As of the third quarter of 2025, the balance sheet reflected strong financial footing.

The firm maintains its focus on extracting value from its distinct monetization streams. These four core portfolios represent the primary avenues for future licensing revenue:

• M2M/IoT Patent Portfolio
• HFT Patent Portfolio
• Cox Patent Portfolio
• Smart Home Patent Portfolio

The management of this specialized patent portfolio, including the prosecution of litigation, is a critical intangible resource. This expertise is actively deployed to enforce patent rights, as evidenced by recent legal actions. For instance, HFT Solutions, LLC commenced patent litigation against OptiverUS LLC and Optiver Trading US LLC on September 8, 2025, targeting the HFT Patent Portfolio. Furthermore, litigation against Samsung entities, focusing on the M2M/IoT Patent Portfolio, was initiated on June 27, 2025. The historical success of the Remote Power Patent, which generated licensing revenue in excess of $188,000,000 from May 2007 through March 31, 2025, underscores the value derived from this specialized management capability.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Value Propositions

You're looking at the core value Network-1 Technologies, Inc. (NTIP) delivers, which centers entirely on its intellectual property assets. This isn't about selling widgets; it's about monetizing foundational technology rights for the benefit of investors and the inventors who created the IP.

Monetization of complex, foundational technology patents.

Network-1 Technologies, Inc. focuses on acquiring, developing, licensing, and protecting high-quality patents. The company's strategy is built on realizing significant licensing opportunities from these validated technologies. For instance, the Remote Power Patent has generated licensing revenue in excess of $188,000,000 from May 2007 through June 30, 2025. Separately, the Mirror Worlds Patent Portfolio has achieved licensing and other revenue of $47,150,000 through September 30, 2025.

The actual reported revenue from these activities is lumpy, reflecting the timing of settlements and licensing deals. For the nine month periods ended September 30, 2025, and September 30, 2024, Network-1 Technologies, Inc. reported revenue of $150,000 and $100,000, respectively, with this revenue stemming from Remote Power Patent litigation settlements.

High-potential, non-recurring revenue via large litigation settlements.

A significant part of the value proposition is the potential for large, non-recurring revenue events derived from patent infringement litigation. Network-1 Technologies, Inc. actively pursues legal action to enforce its rights. As an example of a past success, the company settled patent litigation with Hewlett-Packard for a payment of $17,000,000 in July 2021. More recently, on September 8, 2025, a wholly owned subsidiary commenced patent litigation against OptiverUS LLC and Optiver Trading US LLC concerning the HFT Patent Portfolio.

Here's a look at the active enforcement efforts as of late 2025:

Capital returns and dividends for long-term shareholders.

Network-1 Technologies, Inc. demonstrates a commitment to returning capital to its shareholders, often through dividends. The company pays dividends semi-annually. The last declared semi-annual cash dividend was $0.05 per common share, payable on September 29, 2025, to stockholders of record as of September 19, 2025. This results in an annualized dividend of $0.10 per share. Based on recent pricing, this translates to a trailing twelve months (TTM) dividend yield of approximately 7.3% or 6.71%.

The company also maintains a Share Repurchase Program. As of June 30, 2025, the remaining dollar value authorized for repurchase was $4,994,853. Since the program's inception through June 30, 2025, Network-1 Technologies, Inc. had repurchased 10,525,705 shares at an average price of $1.92 per share, totaling an aggregate cost of $20,185,549.

IP protection for industry standards (e.g., eSIM, 5G, PoE).

The patent portfolio directly addresses foundational technologies within major industry standards, which is a key driver of licensing potential. The M2M/IoT Patent Portfolio, for example, relates to enabling technology for authenticating and using eSIM technology and 5G network authentication. The Remote Power Patent is characterized as the most important patent covering products that comply with the 802.3af standard, which relates to Power over Ethernet (PoE).

The scale of the IP portfolio as of late 2025 includes:

• 106 issued U.S. patents.
• 17 issued international patents.
• The M2M/IoT Portfolio alone contains 41 issued U.S. patents and 15 issued non-U.S. patents.

Providing a vehicle for inventors to realize value from their IP.

Network-1 Technologies, Inc. explicitly states its role is to promote the continued flow of invention by enabling small firms and inventors to realize a return on their R&D investments, often while retaining an interest in the IP. The financial structure for some acquisitions reflects this commitment. For one patent portfolio, Network-1 Technologies, Inc. has an obligation to pay the seller 15% of the first $50 million of net proceeds (after expenses) and 17.5% of net proceeds greater than $50 million.

The company's balance sheet as of September 30, 2025, shows cash and cash equivalents and marketable securities of $37,097,000 and working capital of $36,856,000, providing the resources to fund these ongoing monetization efforts.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Customer Relationships

The relationships Network-1 Technologies, Inc. maintains are primarily defined by the monetization of its intellectual property, which involves distinct, often non-ongoing interactions with external parties.

Transactional, non-recurring licensing agreements and settlements

Customer relationships here are purely transactional, centered on the transfer of rights or the resolution of disputes for past use. These are not subscription-based or recurring relationships in the traditional sense; they are discrete events that generate revenue.

The historical success with the Remote Power Patent shows the potential scale of these one-time events. Through September 30, 2025, this single patent generated licensing revenue in excess of $188,000,000 since May 2007.

For the nine month periods ended September 30, 2025 and 2024, Network-1 reported revenue of $150,000 and $100,000, respectively, with all of this revenue stemming from settlements related to the Remote Power Patent. To be fair, the revenue for the three months ended September 30, 2025, was $0, indicating the lumpy nature of this revenue stream.

The Mirror Worlds Patent Portfolio has also contributed significantly, achieving licensing and other revenue of $47,150,000 through September 30, 2025.

Here's a quick look at the patent portfolio monetization achievements through mid-2025:

Adversarial relationships with alleged infringers via litigation

A significant portion of Network-1 Technologies, Inc.'s engagement involves initiating legal action against alleged infringers. This is a highly adversarial relationship, not a collaborative one, as the goal is enforcement through the courts.

Network-1 Technologies, Inc. is actively pursuing enforcement actions across its key portfolios as of late 2025:

• Commenced patent litigation against OptiverUS LLC and Optiver Trading US LLC on September 8, 2025, concerning the HFT Patent Portfolio.
• Commenced patent litigation against Samsung Electronics Co., LTD and Samsung Electronics America, Inc. on June 27, 2025, concerning the M2M/IoT Patent Portfolio.
• The M2M/IoT Patent Portfolio includes forty-one (41) issued U.S. patents.
• The HFT Patent Portfolio currently includes eleven (11) issued U.S. patents.

The cost of these adversarial relationships is reflected in professional fees, though spending has recently moderated. For the first quarter of 2025, operating expenses decreased by $123,000 year-over-year, primarily due to a decrease of $98,000 in professional fees as litigation spending fell.

Direct communication with shareholders regarding capital returns

For its actual owners, the shareholders, Network-1 Technologies, Inc. maintains direct, formal communication regarding capital deployment, which is a key relationship driver given the company's cash position and dividend policy.

The Board of Directors declared a semi-annual cash dividend of $0.05 per common share, payable on September 29, 2025, to shareholders of record as of September 19, 2025. This follows a prior payment of $0.05 per share paid on March 28, 2025.

Share repurchases are another direct return mechanism. On June 17, 2025, the Board authorized up to $5 million in additional common stock buybacks over the next two years.

Shareholder capital return activity as of mid-2025:

• Shares repurchased in the six months ended June 30, 2025: 151,473 shares.
• Cost for those repurchases: $202,194 (average price of $1.33 per share).
• Remaining buyback authorization as of June 30, 2025: $4,994,853.
• Cumulative shares repurchased since August 2011 through March 31, 2025: 10,480,894 shares.
• Total cumulative outlay for buybacks through March 31, 2025: approximately $20.13 million at an average price of $1.92 per share.

Insider ownership is a measure of alignment, standing at around 26% as of March 2025.

High-stakes, formal legal negotiation and enforcement

The transactional agreements mentioned earlier often stem from high-stakes, formal legal negotiations. These negotiations are the precursor to the adversarial litigation or the final settlement that generates revenue.

The company's strategy is explicitly focused on monetizing four patent portfolios: the M2M/IoT, HFT, Cox, and Smart Home portfolios. The M2M/IoT portfolio patents are expected to extend until 2033-2034. The HFT Patent Portfolio terms are currently expected to extend until 2040.

The company's liquidity position supports these high-stakes activities. As of September 30, 2025, Network-1 had cash and cash equivalents and marketable securities of $37,097,000 and working capital of $36,856,000.

The relationship is one of necessary confrontation to secure value from the intellectual property assets.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Channels

You're looking at how Network-1 Technologies, Inc. (NTIP) pushes its value proposition-enforcing its intellectual property-out to its customer segments, which are primarily companies infringing on its patents. Their channels are a mix of formal legal venues and direct business interactions.

The primary enforcement channel is litigation, which is geographically focused based on where the target companies are located or where the company believes it has the best venue. This is a critical path for monetization, as evidenced by recent activity.

• U.S. District Court for the Western District of Texas.
• U.S. District Court for the Eastern District of Texas.
• U.S. District Court for the Northern District of Illinois.

For instance, on September 8, 2025, Network-1 Technologies, Inc. used its subsidiary HFT Solutions, LLC to start a case against Optiver US LLC and Optiver Trading US LLC specifically in the United States District Court for the Western District of Texas, asserting infringement of the HFT Patent Portfolio. Also, litigation against Samsung commenced in the United States District Court for the Eastern District of Texas on June 27, 2025, concerning the M2M/IoT Patent Portfolio.

Direct, private licensing negotiations form the second major channel, often running parallel to or following litigation initiation. The goal here is to convert an infringement claim into a steady revenue stream without the full cost and time of a protracted court battle. The historical success of this channel is significant, showing the potential payoff when negotiations work.

The company's current nine-month revenue for 2025 reflects this channel's sporadic nature, coming in at $150,000 through September 30, 2025, compared to $100,000 in the same period in 2024, with both amounts derived from Remote Power Patent litigation settlements. This revenue variability means the balance sheet strength is key to sustaining operations between settlements.

Investor communication channels are essential for a publicly traded company like Network-1 Technologies, Inc. (NTIP) to keep stakeholders informed about the progress of its monetization efforts, which are the core of its business. You see this activity reported through mandatory disclosures and voluntary updates.

• SEC Filings, such as the 10-Q for the quarter ended September 30, 2025, filed on November 6, 2025.
• Press Releases, like the one on September 10, 2025, announcing the commencement of litigation against Optiver.

These filings and releases detail the status of patent portfolios, including the HFT, M2M/IoT, Cox, and Smart Home portfolios, and provide financial context, such as the $37,097,000 in cash and marketable securities as of September 30, 2025.

Wholly-owned subsidiaries are the operational vehicles used to execute specific monetization campaigns, keeping the parent company slightly insulated and allowing for focused management of distinct patent groups. HFT Solutions, LLC is the clear example here, formed in March 2022, which holds the HFT Patent Portfolio. This subsidiary was the entity that initiated the September 2025 litigation against Optiver. While the M2M/IoT portfolio litigation against Samsung was initiated by Network-1 Technologies, Inc. itself, the structure allows for clear separation of campaign focus, which is important for managing inventor interests, such as the arrangement where an inventor retains an interest that accelerates after the first $50 million recovered from a specific campaign.

Finance: draft 13-week cash view by Friday.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Customer Segments

You're looking at the distinct groups Network-1 Technologies, Inc. (NTIP) targets for monetization of its intellectual property, which is primarily driven by patent enforcement and licensing agreements.

The customer segments are defined by the specific patent portfolio relevant to their technology or investment profile. The company's strategy focuses on monetizing four main portfolios: M2M/IoT, HFT, Cox, and Smart Home, alongside the historical success of the Remote Power Patent.

Here's a look at the key groups:

• Large technology and telecom companies utilizing M2M/IoT and 5G technologies.
• High-Frequency Trading (HFT) firms using low-latency hardware.
• Companies deploying Power over Ethernet (PoE) technology via the Remote Power Patent.
• Financial investors focused on dividend yield and litigation-driven capital appreciation.

The litigation activity in late 2025 directly points to specific targets within the technology segments. For instance, the M2M/IoT Patent Portfolio is currently the subject of a lawsuit against a major electronics manufacturer.

Large technology and telecom companies (e.g., Samsung) using M2M/IoT and 5G technologies.

This segment is being addressed through the M2M/IoT Patent Portfolio, which covers enabling technology for eSIM and 5G. As of June 27, 2025, Network-1 Technologies, Inc. (NTIP) commenced patent litigation against Samsung Electronics Co., LTD and Samsung Electronics America, Inc. for alleged infringement of these patents. Network-1 Technologies, Inc. (NTIP) currently owns 115 U.S. patents and 17 international patents, some of which cover this area.

High-Frequency Trading (HFT) firms (e.g., Optiver, Citadel, Jump Trading) utilizing low-latency hardware.

The HFT Patent Portfolio targets firms using field-programmable gate array (FPGA) hardware for critical transaction latency gains. Network-1 Technologies, Inc. (NTIP)'s wholly owned subsidiary, HFT Solutions, LLC, started patent litigation against Optiver US LLC and Optiver Trading US LLC on September 8, 2025, alleging infringement of patents within this portfolio.

Companies utilizing Power over Ethernet (PoE) technology (Remote Power Patent).

This segment relates to Network-1 Technologies, Inc. (NTIP)'s most historically lucrative asset. The Remote Power Patent covers delivering power over Ethernet (PoE) cables to remotely power network devices. This patent has generated licensing revenue in excess of $188,000,000 from May 2007 through September 30, 2025. Revenue for the first nine months of 2025, which totaled $150,000, came specifically from litigation settlements related to this Remote Power Patent.

Financial investors seeking dividend yield and litigation-driven capital appreciation.

For investors, the appeal is tied to the company's cash position and dividend policy, which is subject to the outcome of patent monetization efforts. As of September 30, 2025, Network-1 Technologies, Inc. (NTIP) held cash and cash equivalents and marketable securities of $37,097,000. The Board maintained its semi-annual dividend policy, with the most recent payment of $0.05 per share paid on September 29, 2025. This results in an annualized dividend distribution of $0.10 per share, translating to a current dividend yield between 6.88% and 7.07%, which is significantly higher than the Industrials sector average of 1.67%. The company currently pays out -166.67% of its earnings as dividends.

Here's a quick view of the patent portfolio monetization history relevant to these segments:

The M2M/IoT Patent Portfolio is also a focus, with Network-1 Technologies, Inc. (NTIP) having acquired a Smart Home Patent Portfolio on March 31, 2025, consisting of eight U.S. patents and one international patent, plus pending applications.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Cost Structure

You're looking at the expenses Network-1 Technologies, Inc. (NTIP) incurs to keep its intellectual property engine running, which is heavily weighted toward legal and corporate overhead since revenue generation is sporadic, relying on settlements.

High professional fees for patent litigation and legal defense represent a significant, variable cost. The focus on enforcement means legal fees drive operating expenses. For instance, in the third quarter ending September 30, 2025, Network-1 Technologies, Inc. was actively pursuing litigation, having filed suit against Optiver US LLC and Optiver Trading US LLC on September 8, 2025, and continuing the suit against Samsung related to the M2M/IoT Portfolio. While Q1 2025 saw operating expenses decrease by $123,000 year-over-year, largely due to a $98,000 reduction in professional fees from lower litigation spending compared to the prior year, these costs remain a primary component of the operational burn rate.

The cost to hold and protect the intellectual property base is a recurring expense. Network-1 Technologies, Inc. currently owns 115 U.S. patents and 17 international patents as of September 30, 2025. While specific annual maintenance fees aren't itemized, the depreciation of this asset class is captured. For the first quarter of 2025, the Amortization of patents expense was reported as $30,000.

Maintaining the corporate shell to manage these assets falls under General and administrative (G&A) expenses. For the first quarter ended March 31, 2025, G&A expenses were $602,000. Overall operating expenses for the third quarter ended September 30, 2025, were $0.80M, which was an improvement, falling from $0.90M in Q3 2024.

The investment in ILiAD Biotechnologies, LLC, creates a non-cash cost in the form of Equity method losses. These losses directly reduce net income. For the three months ended September 30, 2025, Network-1 Technologies, Inc. recorded an equity method loss of $0.354M (or $354,000). Over the first nine months of 2025, this loss totaled $1,095,000.

Network-1 Technologies, Inc. commits capital to shareholders through Costs associated with capital returns, which are sustained by the company's strong cash position, even with zero quarterly revenue in Q3 2025.

Here's a quick look at the capital return costs for the period ending September 30, 2025:

The company's commitment to its dividend policy, which targets $0.10 per share annually, is a predictable cash outflow, though the Board retains discretion.

Network-1 Technologies, Inc. (NTIP) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how Network-1 Technologies, Inc. (NTIP) brings in cash right now. It's a story told in settlements and portfolio monetization efforts.

Non-recurring patent licensing settlements from litigation are a primary driver, though lumpy by nature. For the nine months ended September 30, 2025, total revenue was reported as $150,000. This specific amount came from settlements related to the Remote Power Patent litigation. To give you context on that specific asset, the Remote Power Patent has generated licensing revenue in excess of $188,000,000 from May 2007 through September 30, 2025.

The revenue for the nine months ended September 30, 2025, totaled $150,000. This contrasts with the three-month period ending September 30, 2025, which reported no revenue for that quarter.

Beyond direct litigation settlements, passive income contributes. Interest and dividend income from the marketable securities portfolio was strong in the first quarter of 2025, hitting $484,000 for the quarter ended March 31, 2025. Also in Q1 2025, the company recorded realized and unrealized gains on marketable securities of $149,000.

Historical licensing revenue from legacy portfolios shows significant past success. Specifically, Network-1 Technologies, Inc. has achieved licensing and other revenue of $47,150,000 through September 30, 2025, with respect to its Mirror Worlds Patent Portfolio.

The current strategy points toward future revenue streams from newer assets. Network-1 Technologies, Inc.'s current strategy includes efforts to monetize four patent portfolios, which are the M2M/IoT, HFT, Cox, and Smart Home portfolios. As a concrete step toward monetizing the HFT portfolio, Network-1's wholly owned subsidiary, HFT Solutions, LLC, commenced patent litigation against Optiver US LLC and Optiver Trading US LLC in September 2025.

Here is a breakdown of key revenue-related figures as of late 2025:

The company is actively pursuing monetization through litigation and licensing efforts across its portfolio, which includes:

• M2M/IoT patent portfolio.
• HFT patent portfolio, with litigation started in September 2025.
• Cox patent portfolio.
• Smart Home Patent Portfolio, acquired March 31, 2025.

Finance: draft 13-week cash view by Friday.