Network-1 Technologies (NYSE American: NTIP) is a patent licensing and enforcement company that develops, licenses, and protects intellectual property assets. Revenue comes from licensing fees and litigation settlements tied to its patent portfolios. For FY2025, all $150,000 in revenue came from settlements related to its Remote Power Patent, which covers delivery of power over Ethernet cables for remotely powering network devices. The company owns 119 U.S. patents (54 expired) and 15 unexpired foreign patents across six portfolios: Remote Power, M2M/IoT (eSIM authentication), HFT (high-frequency trading latency), Cox (internet media content identification), Smart Home (smart device interoperability, acquired March 2025), and Mirror Worlds. Revenue is concentrated among a few parties and fluctuates sharply year to year. The company pays semi-annual cash dividends of $0.05 per share ($0.10 annually, as of FY2025). Executive officers and directors beneficially owned 32.6% of outstanding common stock as of February 15, 2026.

Revenue model

Royalty and litigation settlement model. Revenue is generated from licensing agreements and court-ordered or negotiated settlements tied to its patent portfolios. FY2025 revenue was $150,000, all from Remote Power Patent settlements. FY2024 revenue was $100,000, also entirely from Remote Power Patent settlements. Revenue is irregular and concentrated among a small number of counterparties.

Products and services

Six patent portfolios as of the FY2025 10-K: (1) Remote Power Patent, covering Power over Ethernet delivery to network devices such as wireless access points, IP phones, and network cameras; (2) M2M/IoT Patent Portfolio (acquired December 2017), covering eSIM authentication for IoT, machine-to-machine, smartphone, tablet, and automotive applications, consisting of 45 issued U.S. patents expiring September 2033 to May 2034 and 14 foreign patents expiring October 2034 to December 2034; (3) HFT Patent Portfolio, covering latency-reduction technologies in high-frequency trading systems; (4) Cox Patent Portfolio, covering internet media content identification technology; (5) Smart Home Patent Portfolio (acquired March 2025), covering interoperability of smart home IT devices; (6) Mirror World Patent Portfolio.

Customers and end markets

End markets include networking hardware manufacturers (Remote Power Patent), IoT and mobile device makers (M2M/IoT), financial trading technology firms (HFT), internet media platforms (Cox), and smart home device makers (Smart Home). The company anticipates future revenue will continue to be derived from a few parties, indicating high customer concentration.

Value-chain role

Patent assertion entity. Network-1 acquires or develops patents, then licenses or litigates against companies it believes infringe those patents. It does not manufacture products or provide services directly to end users. For acquired portfolios, it shares net proceeds with original inventors or sellers, for example paying M2M 14% of the first $100 million in net proceeds from the M2M/IoT portfolio and paying Dr. Cox 12.5% of net proceeds from the Cox Patent Portfolio.

Geographic exposure

Primarily U.S.-based patent enforcement. The M2M/IoT portfolio includes 14 registered foreign patents expiring October 2034 to December 2034. No geographic revenue breakdown is disclosed in the excerpts.

Competitors

Acacia Research Corporation (NASDAQ: ACTG), Intellectual Ventures, WI-LAN Inc., RPX Corporation

Source: SEC 10-K, filed 2026-03-13

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