Network-1 Technologies, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
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Third-party market data · may be delayed
Under review: every model's value for Network-1 Technologies, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.
Under review: data-quality checks not passed. We'll show the comparison once resolved.
Network-1 Technologies, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Network-1 Technologies has little or no product revenue yet. It passes 2 of our 2 financial-health checks.
Our model value for Network-1 Technologies is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Current signal Gross margin expanding: TTM gross margin reached 72.0%, up 3.8pp year over year.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Network-1 Technologies, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.73 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$0.1 | Left out: out of range vs price (0.04x) |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Network-1 Technologies, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2015 | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Share price | $1.32 | $1.56 | $1.51 | $1.53 | $2.72 | $2.14 | $1.80 | $1.16 | $1.23 |
| Market value | $32m | $41m | $38m | $37m | $65m | $53m | $43m | $27m | $28m |
| + Net debt (− = net cash) | −$21m | −$43m | −$24m | −$23m | −$26m | −$44m | −$17m | −$13m | −$13m |
| Enterprise value | $12m | −$2m | $14m | $14m | $40m | $8m | $26m | $14m | $15m |
| Multiples | |||||||||
| Price / sales | 2.0x | 2.5x | 1.7x | 12.1x | 14.8x | 1.5x | 16.5x | n/m | 186.6x |
| Price / earnings | 7.9x | 10.0x | 5.0x | — | — | 3.7x | — | — | — |
| Price / free cash flow | 5.8x | 6.1x | 4.7x | — | — | 2.7x | 129.7x | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
Weak moat
How hard Network-1 Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median -1.2% of total assets over 10 years.
Gross margin has been a median 66.3%, moving by 3.9 percentage points (standard deviation) across 5 years.
Operating margin has been a median -69.0%; its worst year was -2204.0%.
The diluted share count fell 5.5% over five years; stock-based pay has been a median 17.3% of revenue.
AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (46 before it).
No analyst estimates are published for Network-1 Technologies, Inc.: too few analysts cover it.
Last 12 months +13.3%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $150000 | $150000 | 0.0% |
| P/S multiple | n/m | n/m | +12.5% |
| Share count | 23m | 23m | +0.8% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
Last 3 years −9.4%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $17m | $150000 | −99.1% |
| P/S multiple | 2.4x | n/m | +9939.7% |
| Share count | 24m | 23m | +4.3% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| NTIP | −21% | −19% | +4% | −36% | +5% | +30% |
| Industry peers (median) | −7% | −50% | +19% | +2% | −21% | −14% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| NTIP | 33% | 25% | 33% | 17% | 42% | 64% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| NTIP | −29% | −24% | −18% | −40% | −29% | −11% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 67% from March 20, 2017 to June 27, 2025. Getting back needed a 205% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 10, 2026 | −0.6% | −0.3% | −4.4% | −0.6% |
| May 12, 2026 | 0.0% | +0.4% | 0.0% | +2.0% |
| March 17, 2026 | +5.5% | −1.1% | 0.0% | +0.7% |
| November 12, 2025 | −2.6% | −1.6% | −6.5% | −11.1% |
| August 12, 2025 | +1.4% | +1.4% | 0.0% | +12.9% |
| May 14, 2025 | +4.0% | +0.6% | −0.8% | −4.0% |
| March 5, 2025 | +0.8% | −0.7% | +2.2% | −0.1% |
| October 28, 2024 | −3.0% | +0.5% | −3.0% | +0.8% |
| August 15, 2024 | +0.6% | +1.9% | −3.1% | −0.7% |
| May 14, 2024 | −0.5% | +1.7% | −2.2% | −8.8% |
| March 13, 2024 | +1.9% | −0.4% | −1.0% | −1.4% |
| November 7, 2023 | +0.5% | +0.4% | +1.9% | +2.8% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY20 Q3 | $5.7M |
| FY20 Q4 | $4.4M |
| FY21 Q1 | $22.9M |
| FY21 Q2 | $22.9M |
| FY21 Q3 | $35.7M |
| FY21 Q4 | $36M |
| FY22 Q1 | $17.3M |
| FY23 Q4 | $2.6M |
| FY25 Q1 | $250K |
| FY25 Q2 | $150K |
| FY25 Q3 | $150K |
| FY25 Q4 | $150K |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY19 Q2 | -86.7% |
| FY19 Q3 | -91.2% |
| FY19 Q4 | -86.3% |
| FY20 Q1 | -20.2% |
| FY20 Q2 | -39.4% |
| FY20 Q3 | 170.5% |
| FY20 Q4 | 45.0% |
| FY21 Q1 | 784.8% |
| FY21 Q2 | 1017.1% |
| FY21 Q3 | 529.3% |
| FY21 Q4 | 718.3% |
| FY22 Q1 | -24.4% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY20 Q3 | -11.9% |
| FY20 Q4 | -54.8% |
| FY21 Q1 | 46.9% |
| FY21 Q2 | 46.2% |
| FY21 Q3 | 50.2% |
| FY21 Q4 | 54.4% |
| FY22 Q1 | 37.0% |
| FY23 Q4 | -85.9% |
| FY25 Q1 | -1339.2% |
| FY25 Q2 | -2296.0% |
| FY25 Q3 | -2232.0% |
| FY25 Q4 | -2204.0% |
| Fiscal year | 2014 Dec 2014 | 2015 Dec 2015 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||
| Revenue | 12 | 17 | 16 | 22 | 3 | 4 | 36 | 3 | 0 | 0 |
| Gross profit | 9 | 11 | 11 | 14 | 2 | 3 | 24 | — | 0 | 0 |
| EBITDA | 4 | — | — | — | — | — | — | — | — | — |
| Operating income | 3 | 4 | 6 | 9 | −2 | −2 | 20 | −2 | −4 | −3 |
| Net income | 2 | 4 | 4 | 8 | −2 | −2 | 14 | −1 | −3 | −2 |
| Diluted EPS | $0.07 | $0.17 | $0.16 | $0.30 | −$0.07 | −$0.07 | $0.58 | −$0.06 | −$0.13 | −$0.11 |
| Growth (year on year) | ||||||||||
| Revenue | — | +34.6% | −0.7% | +34.4% | −86.3% | +45.0% | +718.3% | −92.8% | −96.2% | +50.0% |
| Operating income | — | +44.2% | +53.1% | +52.4% | −125.7% | — | — | −111.4% | — | — |
| Net income | — | +132.6% | +0.6% | +86.5% | −123.3% | — | — | −110.2% | — | — |
| Diluted EPS | — | +142.9% | −5.9% | +87.5% | −123.3% | — | — | −110.3% | — | — |
| Margins | ||||||||||
| Gross margin | 71.5% | 66.8% | 69.8% | 63.5% | 71.0% | 62.5% | 66.3% | — | 72.0% | 72.0% |
| EBITDA margin | 35.5% | — | — | — | — | — | — | — | — | — |
| Operating margin | 22.1% | 23.7% | 36.6% | 41.5% | −77.5% | −54.8% | 54.4% | −85.9% | <−999% | <−999% |
| Net margin | 14.3% | 24.8% | 25.1% | 34.9% | −59.0% | −38.8% | 39.6% | −56.0% | <−999% | <−999% |
| Free-cash-flow margin | 46.8% | 34.0% | 41.2% | 36.6% | −19.9% | −11.4% | 54.1% | 12.7% | <−999% | −579.3% |
| Cash flow | ||||||||||
| Cash from operations | 6 | 6 | 7 | 8 | −1 | −1 | 19 | 0 | −1 | −1 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 6 | 6 | 7 | 8 | −1 | −1 | 19 | 0 | −1 | −1 |
| Stock-based pay | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 0 |
| Free cash flow after stock pay | 5 | 5 | 6 | 7 | −1 | −1 | 19 | −0 | −1 | −1 |
| Balance sheet | ||||||||||
| Cash | 18 | 21 | 43 | 24 | 23 | 26 | 44 | 17 | 13 | 13 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −18 | −21 | −43 | −24 | −23 | −26 | −44 | −17 | −13 | −13 |
| Diluted shares | 27m | 24m | 26m | 25m | 24m | 24m | 25m | 24m | 23m | 23m |
| Returned to shareholders | ||||||||||
| Dividends | — | — | 2 | −2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Buybacks | 4 | 3 | 2 | −2 | 1 | 0 | 1 | 1 | 1 | 0 |
| Total returned | 4 | 3 | 5 | −4 | 3 | 3 | 3 | 3 | 4 | 3 |
| Quarter | 2023 Q4 Dec 2023 | 2024 Q2 Jun 2024 | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 1,781 | 100 | 0 | 0 | 150 | 0 | 0 | 0 |
| Gross profit | — | 72 | 0 | 0 | 108 | 0 | 0 | 0 |
| Operating income | −51 | −624 | −896 | −1,183 | −645 | −720 | −800 | −1,141 |
| Net income | 452 | −658 | −316 | −1,140 | −363 | −463 | −560 | −1,034 |
| Diluted EPS | $0.02 | −$0.03 | −$0.01 | −$0.05 | −$0.02 | −$0.02 | −$0.02 | −$0.05 |
| Growth (year on year) | ||||||||
| Revenue | — | −64.7% | — | −100.0% | — | −100.0% | — | — |
| Net income | — | — | — | −352.2% | — | — | — | — |
| Diluted EPS | — | — | — | −350.0% | — | — | — | — |
| Margins | ||||||||
| Gross margin | — | 72.0% | — | — | 72.0% | — | — | — |
| Operating margin | −2.9% | −624.0% | — | — | −430.0% | — | — | — |
| Net margin | 25.4% | −658.0% | — | — | −242.0% | — | — | — |
| Cash flow | ||||||||
| Cash from operations | 1,084 | −64 | −25 | −391 | 159 | −661 | −104 | −263 |
| Stock-based pay | 120 | 95 | 103 | 86 | 81 | 80 | 66 | 80 |
| Last 12 months unless stated | NTIP | VHC | AMST | CYN | BNAI | YAAS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $150000 | $114000 | $364777 | $387130 | $420993 | $539474 | $479m |
| Revenue growth, last 12 months | −24.4% | 128.0% | 230.2% | −11.0% | 547.7% | 3.5% | 11.9% |
| Revenue growth, 3-year average | −58.2% | 106.2% | −24.4% | — | — | — | 11.1% |
| Revenue growth, latest quarter | −100.0% | −100.0% | 41.9% | 328.3% | >999% | — | 11.8% |
| Gross margin | 72.0% | — | — | 34.6% | 100.0% | 33.4% | 69.3% |
| Operating margin | <−999% | <−999% | −861.7% | <−999% | <−999% | −529.3% | 1.1% |
| Operating margin, 3-year average | −747.9% | <−999% | <−999% | <−999% | <−999% | — | −1.0% |
| Net margin | <−999% | <−999% | −848.7% | <−999% | <−999% | <−999% | 1.6% |
| Cash from operations / revenue | −579.3% | <−999% | −588.5% | <−999% | <−999% | −725.5% | 18.1% |
| Free-cash-flow margin | — | <−999% | −588.5% | <−999% | <−999% | −725.5% | 15.0% |
| Free-cash-flow margin, 3-year average | — | <−999% | <−999% | <−999% | <−999% | — | 16.2% |
| Stock pay / revenue | 204.7% | >999% | 73.5% | 359.2% | 130.2% | 42.1% | 9.3% |
| Change in share count | −0.8% | −0.5% | 40.0% | — | — | 0.9% | 2.2% |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Cannell Capital LLC | $1.9M | 1.3M | 24.6% | ▲ 11.7% |
| Clayton Partners LLC | $1.5M | 1.0M | 19.9% | ▲ 5.1% |
| Vanguard Capital Management LLC | $813,367 | 553K | 10.7% | ▲ 10.2% |
| Renaissance Technologies LLC | $629,666 | 428K | 8.3% | ▼ 7.2% |
| Saybrook Capital | $485,163 | 330K | 6.4% | 0.0% |
| PNC Financial Services Group, Inc. | $396,900 | 270K | 5.2% | 0.0% |
| Canton Hathaway, LLC | $361,139 | 246K | 4.7% | ▼ 12.5% |
| Dimensional Fund Advisors LP | $324,923 | 221K | 4.3% | ▼ 4.7% |
| Geode Capital Management, LLC | $192,289 | 131K | 2.5% | ▲ 34.6% |
| Bridgeway Capital Management, LLC | $189,867 | 129K | 2.5% | 0.0% |
| Empowered Funds, LLC | $143,431 | 98K | 1.9% | 0.0% |
| State Street Corp | $133,034 | 90K | 1.7% | ▲ 95.5% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Network-1 Technologies, Inc.'s complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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