{"id":755325,"date":"2023-05-04T18:23:05","date_gmt":"2023-05-04T22:23:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/"},"modified":"2023-05-04T18:23:05","modified_gmt":"2023-05-04T22:23:05","slug":"safeguard-scientifics-announces-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/","title":{"rendered":"Safeguard Scientifics Announces First Quarter 2023 Financial Results"},"content":{"rendered":"<h2>\nConference call and webcast on May 4, 2023 at 5 p.m. ET<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">RADNOR, Pa., May  04, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GFAOuwz53egJStSfKP-JZwxGrrNjFwDbhCAvKHIoY7s1Ynf1dPVhZj3Md50zm8aRFHZ9jHvA8lSiHfZZYFHnJlEQfZzLF6D5jkkQFgp2fF8=\" rel=\"nofollow noopener\" target=\"_blank\"><u>Safeguard Scientifics, Inc.<\/u><\/a> (NASDAQ:SFE) (\u201cSafeguard\u201d or the \u201cCompany\u201d) today announced financial results for the three months ended March 31, 2023.<\/p>\n<p>\n        <strong>FIRST QUARTER 2023 HIGHLIGHTS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Financial Results\n<ul type=\"circle\">\n<li>Cash, cash equivalents and restricted cash totaled $18.8 million at March 31, 2023.<\/li>\n<li>The carrying value of the Company\u2019s ownership interests totaled $12.0 million at March 31, 2023. The total cost of the Company\u2019s ownership interests was $151.3 million.<\/li>\n<li>Net loss for the three months ended March 31, 2023 was $3.5 million, or $0.22 per share, as compared with a net loss of $6.7 million, or $0.40 per share, for the same period in 2022.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>Capital Return\u00a0\u00a0\u00a0\u00a0\u00a0\n<ul type=\"circle\">\n<li>During the first quarter, Safeguard completed the remaining purchases under its $3 million 2022 share repurchase plan by acquiring 25,096 shares on the open market at an average price of $3.01 per share, totaling less than $0.1 million.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>Exits &amp; Deployments\n<ul type=\"circle\">\n<li>Safeguard sold the remainder of its Bright Health Group ownership interest during the first quarter for aggregate proceeds of $850,000.<\/li>\n<li>As previously disclosed, Safeguard funded the remaining $0.25 million to Trice Medical pursuant to a previously established $0.38 million subordinated line of credit.<\/li>\n<li>Subsequent to the quarter, Safeguard deployed $3.0 million to Prognos as part of a financing round consisting of existing and new investors.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>Safeguard Company Performance\n<ul type=\"circle\">\n<li>The aggregate trailing twelve-month revenues ending December 31, 2022 for eight of Safeguard\u2019s companies, which excludes the Other Ownership Interests, was $145 million, an increase of 8.9% from the comparable prior period.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>Operating Costs\n<ul type=\"circle\">\n<li>Safeguard continued to reduce its operating costs.\u00a0\u00a0 General and administrative expenses totaled $1.2 million for each of the quarters ended March 31, 2023 and 2022, respectively, a decrease of 4.0%.<\/li>\n<li>Safeguard also continued to lower its corporate expenses,<sup>1<\/sup> which totaled $0.8 million for each of the quarters ended March 31, 2023 and 2022, respectively, a decrease of 6.4%.\u00a0 \u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li>Outlook\n<ul type=\"circle\">\n<li>Safeguard continues to seek a strategic option that maximizes shareholder value and is currently in advanced discussions with a single counterparty. No definitive agreements have been reached and the parties continue to work towards a transaction.<\/li>\n<li>As a result of our deployment to Prognos and certain developments at other companies, we have reduced our full year 2023 expectation of total follow-on deployments for our remaining ownership interests from a range of $4.0 million to $6.0 million to a range of $3.0 million to $4.5 million, inclusive of the $3.0 million deployed to Prognos.<\/li>\n<li>Safeguard will continue to closely manage corporate expenses in 2023 with a target of $3.0 million to $3.2 million for the year, excluding strategic transaction-related expenses.\u00a0\u00a0\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u201cThe business, capital raising, and M&amp;A environment that we highlighted last quarter continues to impact many of Safeguard\u2019s companies, particularly those with high debt levels. We are acting prudently with our capital in situations where we can create high conviction opportunities to drive value for Safeguard and where the companies have the liquidity and flexibility to operate in a challenging environment. Prognos is an example of a situation where we used our capital to catalyze a transaction attractive to Safeguard. We continue to progress on a strategic alternative as part of the Houlihan Lokey process. We are in discussions on a transaction that could yield greater value to our shareholders than an orderly run-off of the portfolio. In all cases, we remain committed to seeking a path that maximizes shareholder value,\u201d said Eric C. Salzman, Chief Executive Officer.<\/p>\n<p>\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014<br \/><sup>1 Corporate expenses are general and administrative expenses excluding depreciation, severance, stock-based compensation and other non-recurring items. See full reconciliation in the financial section of this statement.<\/sup><\/p>\n<p>\n        <strong>OWNERSHIP INTERESTS AT MARCH 31, 2023<\/strong>\n      <\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: middle;vertical-align: bottom\">\n            <strong>Companies<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: middle;vertical-align: bottom\">\n            <strong>Category<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\n            <strong>Acquisition Year<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\n            <strong>Primary Ownership%<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\n            <strong>Fully Diluted Ownership%<\/strong><br \/>\n            <br \/>\n            <sup><br \/>\n              <strong>**<\/strong><br \/>\n            <\/sup>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\n            <strong>Carrying Value<\/strong><br \/>\n            <br \/>\n            <em>(in millions)<\/em>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\n            <strong>Cost<\/strong><br \/>\n            <br \/>\n            <em>(in millions)<\/em>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"12\" style=\"vertical-align: middle;vertical-align: bottom\">\n            <strong>Revenue of $5 million to $10 million <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"max-width:17%;width:17%;min-width:17%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Moxe<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2016<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">19.3<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">18.1<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">6.5<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"max-width:13%;width:13%;min-width:13%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">7.5<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"12\" style=\"vertical-align: middle;vertical-align: bottom\">\n            <strong>Revenue of $10 million to $20 million <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Clutch Holdings, Inc.<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Digital Media<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2013<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">41.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">33.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">18.3<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">InfoBionic, Inc.<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2014<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">25.2<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">22.1<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">22.0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">meQuilibrium<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2015<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">31.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">21.0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">14.5<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Syapse, Inc.<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2014<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11.0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">0.6<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">26.6<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"12\" style=\"vertical-align: middle;vertical-align: bottom\">\n            <strong>Revenue of $20 million to $30 million <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Aktana, Inc.<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2016<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">13.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11.5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">15.9<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Prognos Health, Inc. *<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2011<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">28.4<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">24.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1.5<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">14.6<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">Trice Medical, Inc.<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Healthcare<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">2014<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">11.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">8.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12.2<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"12\" style=\"vertical-align: middle;vertical-align: bottom\">\n            <strong>Other Ownership Interests<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: middle;vertical-align: bottom\">All others<\/td>\n<td style=\"vertical-align: middle;vertical-align: bottom\">Various<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">1.4<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">19.7<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">TOTAL:<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">12.0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: middle;vertical-align: bottom\">151.3<\/td>\n<\/tr>\n<\/table>\n<p>\n        <sup>* Subsequent to the quarter, Prognos completed a financing transaction resulting in Safeguard\u2019s primary and fully diluted ownership percentages being reduced to 19.0% and 17.2%, respectively.<\/sup>\n      <\/p>\n<p>\n        <sup>** Based on information provided by each respective company. Assumes the conversion or exercise of all currently outstanding securities including the issuance of all shares available under authorized employee equity programs. Does not reflect liquidation preferences, priority payments, proceeds from option and\/or warrant exercises or other company-specific transaction-related obligations in a liquidation or exit transaction.<\/sup>\n      <\/p>\n<p>\n        <strong>CONFERENCE CALL AND WEBCAST DETAILS<\/strong>\u00a0\u00a0<\/p>\n<p>\n        <em>Please call 10-15 minutes prior to the call to register.<\/em>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:5%;width:5%;min-width:5%;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"max-width:95%;width:95%;min-width:95%;vertical-align: top\">\n            <strong>Date:\u00a0<\/strong>May 4, 2023<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"max-width:33%;width:33%;min-width:33%;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\n            <strong>Time:\u00a0<\/strong>5:00 p.m. ET<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\n            <strong>Webcast:\u00a0<\/strong><br \/>\n            <a href=\"https:\/\/www.webcast-eqs.com\/safeguardscientific050423\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.webcast-eqs.com\/safeguardscientific050423<\/a>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\n            <strong>Live Number:\u00a0<\/strong>877-407-0989<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\n            <strong>Speakers:\u00a0<\/strong>Chief Executive Officer, Eric C. Salzman; and Senior Vice President and Chief Financial Officer,\u00a0Mark A. Herndon<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\n            <strong>Format:\u00a0<\/strong>Discussion of the first quarter\u2019s financial results followed by Q&amp;A<\/td>\n<\/tr>\n<\/table>\n<p>The replay will be available at Safeguard.com\u2019s investor relations site under \u201cPast events\u201d. For more information please contact\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kp05LxXjVrWYG5Ou8-o_UBzIjRJpdx8oWKIU8qGSPKfPySgsJXEmokEAz66Xh9F058BdYQ1WjqDgg-6QsF4Mrhl5HYo_dzEez1XSm-kG1Hx6qQU0ODRFLPzWFQqKc2Hd25mGT2Rkw53v9fLweUpteRNAJsP5usM_0ojdNzydktyr4dlXGcfcV8W7DfyY5WETw0LdbuK8U6wymsAMZFr_lap_8mOePb4enqtEHhJKicE=\" rel=\"nofollow noopener\" target=\"_blank\">IR@safeguard.com<\/a>.\u00a0<\/p>\n<p>\n        <strong>About Safeguard Scientifics <\/strong><br \/>\n        <br \/>Historically, Safeguard Scientifics has provided capital and relevant expertise to fuel the growth of technology-driven businesses. Safeguard has a distinguished track record of fostering innovation and building market leaders that spans more than six decades. Safeguard is currently pursuing a focused strategy to value-maximize and monetize its ownership interests over a multi-year time frame to drive shareholder value. For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_NPWAY-PfRuCP9r-BnRVAwjEMflR8lf-TYDgzLQWbnij9BifMAZCxeTrQKLY89iI16gc19_U0ZpGZtjuMJ-uxQ==\" rel=\"nofollow noopener\" target=\"_blank\">www.safeguard.com<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>\n        <em>Except for the historical information and discussions contained herein, statements contained in this release may constitute \u201cforward-looking statements\u201d within the meaning of the federal securities laws. Our forward-looking statements are subject to risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding Safeguard\u2019s ability to maximize the value of monetization opportunities of its ownership interests and drive total shareholder returns, Safeguard\u2019s initiatives, including, without limitation, taken or contemplated to enhance and unlock value for all of its shareholders, Safeguard\u2019s efforts to execute on and implement its strategy to streamline its organizational structure, reduce its operating costs, pursue monetization opportunities for ownership interests and maximize the return of value to its shareholders, Safeguard\u2019s ability to create, unlock, enhance and maximize shareholder value, the effect of Safeguard\u2019s management succession plan on driving increased organizational effectiveness and efficiencies, the ability of the management team to execute Safeguard\u2019s strategy, the availability of, the timing of, and the proceeds that may ultimately be derived from the monetization of ownership interests, Safeguard\u2019s projections regarding the reduction in its ongoing operating expenses, Safeguard\u2019s projections regarding annualized operating expenses and expected severance expenses, monetization opportunities for ownership interests, and the amount of net proceeds from the monetization of ownership interests that will enable the return of value to Safeguard shareholders after satisfying working capital needs and the timing of such return of value. Such forward-looking statements are not guarantees of future operational or financial performance and are based on current expectations that involve a number of uncertainties, risks and assumptions that are difficult to predict. Therefore, actual outcomes and\/or results may differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause actual results to differ materially include, among others, our ability to make good decisions about the monetization of our ownership interests for maximum value or at all and the return of value to our shareholders, our ability to successfully execute on our strategy to streamline our organizational structure and align our cost structure to increase shareholder value, whether our strategy will better position us to focus our resources on the highest-return opportunities and deliver enhanced shareholder value, the ongoing support of our existing ownership interests, the fact that our companies may vary from period to period, challenges to achieving liquidity from our ownership interests, fluctuations in the market prices of our publicly traded holdings, if any, competition, our inability to obtain maximum value for our ownership interests, our ability to attract and retain qualified employees, market valuations in sectors in which our ownership interests operate, our inability to control our ownership interests, our need to manage our assets to avoid registration under the Investment Company Act of 1940, risks, disruption, costs and uncertainty caused by or related to the actions of activist shareholders, including that if individuals are elected to our Board with a specific agenda, it may adversely affect our ability to effectively implement our business strategy and create value for our shareholders and perceived uncertainties as to our future direction as a result of potential changes to the composition of our Board may lead to the perception of a change in the direction of our business, instability or a lack of continuity that may adversely affect our business, and risks associated with our ownership interests, including the fact that most of our ownership interests have a limited operating history and a history of operating losses, face intense competition and may never be profitable, the effect of economic conditions in the business sectors in which our companies operate, and other uncertainties described in our filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. As a result of these and other factors, the Company\u2019s past operational and financial performance should not be relied on as an indication of future performance. Further information on the above risk factors and other potential factors that could affect our future business, operating results and financial condition is included in our Annual Report on Form 10-K for the year ended December 31,\u00a02022<\/em>\u00a0<em>and other periodic filings with the Securities and Exchange Commission, including risks under the heading \u201cRisk Factors.\u201d The Company does not assume any obligation to update any forward-looking statements or other information contained in this press release.<\/em><\/p>\n<p align=\"center\">###<\/p>\n<p>\n        <strong>SAFEGUARD CONTACT: <\/strong><br \/>\n        <br \/>Mark Herndon<br \/>Chief Financial Officer<br \/>(610) 975-4913<br \/>mherndon@safeguard.com<\/p>\n<p align=\"center\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Safeguard Scientifics, Inc.<br \/><strong>Condensed Consolidated Balance Sheets<\/strong><br \/><strong>(in thousands)<\/strong><\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">March 31, 2023<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">December 31, 2022<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: bottom\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cash, cash equivalents, restricted cash and marketable securities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18,793<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">19,312<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Ownership interests<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">860<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,345<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,251<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Total current assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">20,138<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">21,423<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Ownership interests in and advances<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11,991<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">14,545<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,598<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,724<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total Assets<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">33,727<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">37,692<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Liabilities and Equity<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,152<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,817<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Total current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,152<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,817<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Lease liability &#8211; non-current<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,133<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,249<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other long-term liabilities<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">50<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">50<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total equity<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">31,392<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">34,576<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total Liabilities and Equity<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">33,727<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">37,692<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Safeguard Scientifics, Inc.<br \/><strong>Condensed Consolidated Statements of Operations<\/strong><br \/><strong>(in thousands, except per share amounts)<\/strong><\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Three Months Ended<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">March 31,<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">2023<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">2022<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: bottom\">Operating expenses<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,185<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,234<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating loss<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1,185<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1,234<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other income (loss), net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(9<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1,997<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Interest, net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">274<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">101<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Equity income (loss), net<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,564<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,579<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income (loss) before income taxes<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,484<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(6,709<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Income tax benefit (expense)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2014<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,484<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(6,709<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income (loss) per share:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.22<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.40<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.22<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.40<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average shares used in computing income (loss) per share:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">16,072<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">16,587<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">16,072<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">16,587<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><br \/>\n          <br \/>\n        <\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:100%;width:100%;min-width:100%;text-align: center;vertical-align: middle\">\n            <strong>Safeguard Scientifics, Inc.<\/strong><\/p>\n<p>            <strong>Financial Data<\/strong><br \/>\n            <br \/>\n            <strong>(in thousands)<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong>\u00a0<\/strong>\n      <\/p>\n<p>\n        <strong><br \/>\n          <u>Additional Financial Information<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Non-GAAP Measures<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">In discussing financial results and guidance, the Company refers to the measure &#8220;corporate expenses&#8221; which is not in accordance with Generally Accepted Accounting Principles (GAAP). We use this non-GAAP financial measure internally to make operating and strategic decisions, including evaluating our overall performance and as a factor in determining compensation for certain employees. We have defined corporate expenses as general and administrative costs excluding stock based compensation, severance costs, and non-recurring items and other.\u00a0 Non-recurring items and other includes accruals related to the Company&#8217;s LTIP plan that will not be paid until reaching a specified threshold within that plan as well as costs incurred for exploring strategic alternatives.\u00a0We believe presenting this non-GAAP financial measure provides additional information to facilitate comparison of our historical operating costs and their trends, and provides additional transparency on how we evaluate our cost structure. We also believe presenting this measure allows investors to view our performance using the same measure that we use in evaluating our performance and trends.<\/p>\n<p>\n        <strong>Corporate expenses\u00a0reconciliation:<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Three Months Ended<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">March 31,<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">2023<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">2022<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:64%;width:64%;min-width:64%;vertical-align: bottom\">Corporate expenses<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: right;vertical-align: middle;vertical-align: bottom\">791<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: right;vertical-align: middle;vertical-align: bottom\">845<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Stock based compensation<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">292<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">314<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Non-recurring items and other<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">102<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">75<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,185<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,234<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMjI2NyM1NTc0MzI0IzIxODU3MTc=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/YzYwMzQ3ZjUtMDEwNi00ODhiLWIxMGMtNTRkNDNjNDYwNWRkLTExOTcyNzE=\/tiny\/Safeguard-Scientifics-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Conference call and webcast on May 4, 2023 at 5 p.m. ET RADNOR, Pa., May 04, 2023 (GLOBE NEWSWIRE) &#8212; Safeguard Scientifics, Inc. (NASDAQ:SFE) (\u201cSafeguard\u201d or the \u201cCompany\u201d) today announced financial results for the three months ended March 31, 2023. FIRST QUARTER 2023 HIGHLIGHTS Financial Results Cash, cash equivalents and restricted cash totaled $18.8 million at March 31, 2023. The carrying value of the Company\u2019s ownership interests totaled $12.0 million at March 31, 2023. The total cost of the Company\u2019s ownership interests was $151.3 million. Net loss for the three months ended March 31, 2023 was $3.5 million, or $0.22 per share, as compared with a net loss of $6.7 million, or $0.40 per share, for the same period in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Safeguard Scientifics Announces First Quarter 2023 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-755325","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Safeguard Scientifics Announces First Quarter 2023 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Safeguard Scientifics Announces First Quarter 2023 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Conference call and webcast on May 4, 2023 at 5 p.m. ET RADNOR, Pa., May 04, 2023 (GLOBE NEWSWIRE) &#8212; Safeguard Scientifics, Inc. (NASDAQ:SFE) (\u201cSafeguard\u201d or the \u201cCompany\u201d) today announced financial results for the three months ended March 31, 2023. FIRST QUARTER 2023 HIGHLIGHTS Financial Results Cash, cash equivalents and restricted cash totaled $18.8 million at March 31, 2023. The carrying value of the Company\u2019s ownership interests totaled $12.0 million at March 31, 2023. The total cost of the Company\u2019s ownership interests was $151.3 million. Net loss for the three months ended March 31, 2023 was $3.5 million, or $0.22 per share, as compared with a net loss of $6.7 million, or $0.40 per share, for the same period in &hellip; Continue reading &quot;Safeguard Scientifics Announces First Quarter 2023 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-04T22:23:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMjI2NyM1NTc0MzI0IzIxODU3MTc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Safeguard Scientifics Announces First Quarter 2023 Financial Results\",\"datePublished\":\"2023-05-04T22:23:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/\"},\"wordCount\":1933,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgzMjI2NyM1NTc0MzI0IzIxODU3MTc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/safeguard-scientifics-announces-first-quarter-2023-financial-results\\\/\",\"name\":\"Safeguard Scientifics Announces First Quarter 2023 Financial Results - 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(NASDAQ:SFE) (\u201cSafeguard\u201d or the \u201cCompany\u201d) today announced financial results for the three months ended March 31, 2023. FIRST QUARTER 2023 HIGHLIGHTS Financial Results Cash, cash equivalents and restricted cash totaled $18.8 million at March 31, 2023. The carrying value of the Company\u2019s ownership interests totaled $12.0 million at March 31, 2023. The total cost of the Company\u2019s ownership interests was $151.3 million. Net loss for the three months ended March 31, 2023 was $3.5 million, or $0.22 per share, as compared with a net loss of $6.7 million, or $0.40 per share, for the same period in &hellip; Continue reading \"Safeguard Scientifics Announces First Quarter 2023 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-04T22:23:05+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMjI2NyM1NTc0MzI0IzIxODU3MTc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Safeguard Scientifics Announces First Quarter 2023 Financial Results","datePublished":"2023-05-04T22:23:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/"},"wordCount":1933,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgzMjI2NyM1NTc0MzI0IzIxODU3MTc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/safeguard-scientifics-announces-first-quarter-2023-financial-results\/","name":"Safeguard Scientifics Announces First Quarter 2023 Financial Results - 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