LITTLE ROCK, Ark., May 31, 2024 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE:INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announced that it will participate in the upcoming Maxim Group Virtual TMT Conference. Richard Howe, CEO of Inuvo will participate in a fireside chat on Wednesday, June 5, 2024, at 10:00 a.m. ET with Maxim's Senior Research Analyst, Jack Vander Aarde. The fireside chat will be available for webcast by registeri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ Commission file number: 001-32442 INUVO, INC. (Exact name of registrant as specified in its charter) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Rock, AR 72201 (Addr ...

Financial Performance - Inuvo reported a 44% year-over-year revenue growth, reaching $17.0 million for Q1 2024, compared to $11.8 million in Q1 2023[4] - Gross profit increased by 72% to $14.9 million in Q1 2024, with a gross margin of approximately 87.7%, up from 73.1% in the same period last year[6] - Adjusted EBITDA improved by 56%, resulting in a loss of $1.0 million in Q1 2024, compared to a loss of $2.3 million in Q1 2023[11] - The net loss for Q1 2024 was $2.1 million, or $0.02 per share, an improvement from a net loss of $3.4 million, or $0.03 per share, in Q1 2023[10] - Operating expenses rose to $17.0 million in Q1 2024, up from $12.1 million in Q1 2023, primarily due to increased marketing costs[8] Product and Technology Developments - Inuvo launched an innovative omnichannel measurement solution that predicts performance without user identification[7] - The company announced the capability to deliver and measure Netflix ad campaigns across programmatic channels[7] - Inuvo's proprietary AI solution, IntentKey, continues to provide a competitive advantage in identifying consumer interests without relying on personal identification[3] - The company reaffirmed its technology's ability to operate in a cookieless future, adapting to privacy changes from Google[7] Cash Position - Inuvo's cash and cash equivalents stood at $2.4 million as of March 31, 2024, with an unused working capital facility of $5.0 million and no debt[12]

LITTLE ROCK, Ark., May 01, 2024 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE:INUV), provider of the first generative artificial intelligence (AI) advertiser solution made specifically for brands and agencies, will host a conference call on Tuesday, May 7, 2024, at 4:15 P.M. Eastern Time to discuss its financial results and provide a business update for the for the first quarter ended March 31, 2024. Conference Call Details: Date: Tuesday, May 7, 2024Time: 4:15 P.M. Eastern Time Toll-free Dial-in Number: 1-800-717- ...

LITTLE ROCK, Ark., May 01, 2024 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE American: INUV), provider of the first generative artificial intelligence (AI) advertiser solution made specifically for brands and agencies, will host a conference call on Tuesday, May 7, 2024, at 4:15 P.M. Eastern Time to discuss its financial results and provide a business update for the for the first quarter ended March 31, 2024. Conference Call Details: Date: Tuesday, May 7, 2024Time: 4:15 P.M. Eastern Time Toll-free Dial-in Number: ...

LITTLE ROCK, Ark., April 30, 2024 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE:INUV), provider of the first generative artificial intelligence (AI) advertiser solution made specifically for brands and agencies, today announces a significant enhancement to its Audience Discovery Portal, the latest version of a first-of-its-kind intelligence capable of instantly generating marketing audience insights. Powered by IntentKey AI, a proprietary large language model designed specifically to find and target audiences witho ...

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Financial Performance - Revenue increased by 21% year-over-year to $20.8 million in Q4 2023[5] - Gross profit rose by 55% to $18.2 million in Q4 2023, with a gross margin of 87.3% compared to 68.0% in Q4 2022[3][8] - Net revenue for the full year 2023 totaled $73.9 million, a slight decrease from $75.6 million in 2022[5] - Cost of revenue decreased significantly to $2.6 million in Q4 2023 from $5.5 million in Q4 2022[6] - Net loss for Q4 2023 improved to $2.4 million, or $0.02 per share, compared to a net loss of $4.0 million, or $0.03 per share, in Q4 2022[11] - Adjusted EBITDA loss improved by $600 thousand in Q4 2023 compared to the same period last year[6][12] - EBITDA for Q4 2023 was $(1.74) million, compared to $(3.29) million in Q4 2022, indicating a 47.1% reduction in losses[24] - Adjusted EBITDA for Q4 2023 was $(1.22) million, an improvement from $(1.82) million in Q4 2022, reflecting a 32.7% decrease in losses[24] Operating Expenses - Operating expenses for Q4 2023 totaled $20.6 million, up from $15.7 million in Q4 2022[9] - Total depreciation for the year 2023 was $1.67 million, up from $1.53 million in 2022, marking an increase of 9.3%[24] - Stock-based compensation for the year 2023 was $1.99 million, down from $2.35 million in 2022, a decrease of 15.5%[24] - Interest expense for the year 2023 was $29.57 million, an increase from $21.11 million in 2022, reflecting a 40.1% rise[24] Cash and Debt Position - As of December 31, 2023, the company had $4.4 million in cash and cash equivalents and no debt[13] Product Development and Market Outlook - The company introduced two new higher-margin products in 2023[6] - The sales pipeline is robust, with a promising outlook for 2024 due to advancements in AI capabilities[4] Non-Recurring Items and Adjustments - The company recorded a non-recurring expense of $1.37 million related to fraudulent media in the previous year[24] - Unrealized loss on marketable securities for the year 2023 was $14.67 million, a significant decrease from $435.55 million in 2022[24] - Doubtful account reserve for the year 2023 was $361.10 million, down from $1.24 million in 2022, indicating a 70.9% reduction[24] - The company emphasizes that future results may still be affected by unusual or non-recurring items despite the adjustments made in EBITDA and Adjusted EBITDA[26]

Financial Performance - Revenues decreased approximately 2.2% in 2023 compared to 2022, while gross profit margin increased to 85.8% from 60.0%[54] - Operating loss was approximately $10.3 million in 2023, an improvement from an operating loss of approximately $12.6 million in 2022[54] - The accumulated deficit reached $167.4 million by December 31, 2023[54] - The company’s financial results are seasonal, with lower Revenue Per Click (RPC) typically observed in the fourth and first quarters due to decreased demand[74] - Quarterly revenues and operating results have historically varied significantly, influenced by factors such as distribution partner usage and market conditions[75] Customer Concentration and Churn - Three customers accounted for 60.4%, 12.8%, and 5.7% of revenues in 2023, highlighting significant customer concentration risk[55] - The company has experienced churn in its customer base, with some clients from 2021 no longer being served in 2022[55] Cash and Liquidity - As of December 31, 2023, the company had approximately $4.4 million in cash, cash equivalents, and short-term marketable securities[54] - The company has a $5,000,000 line of credit with Hitachi Capital America Corp., which is subject to certain covenants, and as of December 31, 2023, the company was in compliance with these covenants[77] - The company may need to raise additional capital for growth and acquisitions, which could dilute existing shareholders if equity securities are issued[81] Employment and Grants - The company received a grant of $1,750,000 from the State of Arkansas, contingent upon maintaining at least 50 full-time equivalent positions, which was amended to 43 positions as of March 31, 2022[72] - As of December 31, 2023, the company had 43 full-time employees in Arkansas and accrued a contingent liability of $35,000 due to lower than required employment[73] Regulatory and Compliance Risks - The business is subject to regulatory risks, including potential new laws affecting Internet-based commerce and data privacy[69] - The company must maintain compliance with NYSE American listing standards to avoid potential delisting of its common stock[71] Operational Risks - The company relies on direct relationships with advertisers and advertising agencies for revenue generation, which can be terminated at any time[57] - The company has faced a decrease in the number of supply partners and Internet traffic since late April 2020[58] - The company faces various risks that could impact its financial condition, including competition, regulatory changes, and economic conditions[80] Growth Strategy - The company’s ability to attract new distribution partners and maintain existing relationships is critical for revenue stability[80] - Future acquisitions are a key component of the company’s growth strategy, but there are risks associated with identifying, completing, and integrating these acquisitions[79] Shareholder Dilution - The company has 7,010,016 restricted stock units outstanding, which could lead to significant dilution for shareholders upon vesting[78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ Commission file number: 001-32442 Inuvo, Inc. (Exact name of registrant as specified in its charter) Nevada 87-045045 ...