Q: Could you comment on PNP’s 2Q2025 results. Is AI affecting their results too?
5i Research Answer:
PNP reported a loss of 18c per share, down from (10c) last year. The company does not really report 'sales' but only investment gains and losses, and net loss for the quarter was $0.913M. Cash flow was $466,000, down from $587,000. PNP has no analysts and no estimates. Because of the holding company nature, its earnings depend on whether it monetizes or writes down (or up) any of its holdings. We would not necessarily blame AI here. As is usual, the company provides no commentary. The stock has been very weak since its peak in May. We think it is becoming more interesting, but its liquidity is low and investor may not care until they see more gains actually realized from its investment portfolio.