Revenue during the year plunged 31.31 percent to $26.23 million from $38.18 million in the previous year. Gross margin for the year expanded 285 basis points over the previous year to 88.25 percent. Operating margin for the year stood at negative 13.67 percent as compared to a negative 95.31 percent for the previous year.

Operating loss for the year was $3.59 million, compared with an operating loss of $36.39 million in the previous year.

However, the adjusted EBITDA for the year stood at negative $1.66 million compared to negative $5.16 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 6.34 percent for the year compared to negative 13.50 percent in the last year.

"We made a $21 million dollar investment in Professional Diversity Network with the goal of creating enhanced shareholder value. In late 2016, I assumed the Chief Executive Officer role at the company in order to lead a transformation of the company, from its current situation to the goal of growth and profitability. Our strategy is diverse. First, to refine the operations in the United States to be more efficient, increase revenues in a profitable manner and launch new products and services. Second, we intend to expand PDN’s women’s networking business to China, taking advantage of the significant and rapid economic development of China that has created millions of potential members for our women’s networking platform within the country. Our plan to begin women’s networking in China launched with our education and training products and services on March 25, 2017, with an inaugural event that attracted over 2,000 paid participants. This is only the first of the activities we plan for our China expansion," said Michael Wang, chief executive officer of PDN.