Intelligent Protection Management Corp. (IPM) Stock Analysis

Intelligent Protection Management Corp. (NASDAQ: IPM) is a micro-cap special situation defined by a full corporate metamorphosis. Formerly Paltalk (founded 1998), it spent decades operating consumer social/video chat apps (Paltalk, Camfrog, Tinychat, Vumber) but faced terminal stagnation under mega-cap platform competition. In January 2025, management executed a decisive reset: it sold the legacy consumer assets to Meteor Mobile Holdings for ~$1.35M and acquired Newtek Technology Solutions (a 21-year-old unit of NewtekOne) for $4.0M cash, then rebranded as IPM and exited the consumer identity. The company is now a B2B managed technology solutions provider focused on managed IT, private/hybrid cloud hosting, cybersecurity, and backup/disaster recovery for SMBs through enterprises in the U.S. The revenue model is now anchored in recurring subscriptions and SLAs rather than volatile consumer monetization. IPM is also productizing AI for SMBs via Private Cloud AI and vendor partnerships, while still generating some lumpy revenue from IT procurement and professional services. The investment case hinges on whether the market recognizes the pivot, the NewtekOne referral engine converts into sustained organic growth, and management avoids value-destructive distractions (notably the Cisco patent appeal).