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Inuvo(INUV) - 2023 Q4 - Annual Report
2024-02-29 21:56
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]
Inuvo(INUV) - 2023 Q3 - Quarterly Report
2023-11-13 13:36
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 ...
Inuvo(INUV) - 2023 Q2 - Earnings Call Presentation
2023-08-11 06:33
INUVO. Safe Harbor Statement / Non-Disclosure INUV (NYSE American) Investment Highlights Proven Client Performance The demand for Advertising Technology not dependent on identity and consumer data has fueled the 26% YOY growth in 2022. Balance Sheet Using Generative Artificial Intelligence based on a large language model to redefine how audiences are discovered & actioned for a privacy-first future. | --- | --- | --- | --- | |---------------------------------------------------------------------------------- ...
Inuvo(INUV) - 2023 Q2 - Earnings Call Transcript
2023-08-10 23:49
Inuvo, Inc. (NYSE:INUV) Q2 2023 Earnings Conference Call August 10, 2023 4:15 PM ET Company Participants Natalya Rudman - Investor Relations Richard Howe - Chief Executive Officer Wally Ruiz - Chief Financial Officer Conference Call Participants Jack Vander Aarde - Maxim Group Operator Good afternoon ladies and gentlemen and welcome to the Inuvo, Inc. Second Quarter 2023 Conference Call. At this time, note that all participants are in a listen-only mode. But following the presentation, we will conduct a que ...
Inuvo(INUV) - 2023 Q2 - Quarterly Report
2023-08-10 20:45
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 June 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 87-0450450 (St ...
Inuvo(INUV) - 2023 Q1 - Quarterly Report
2023-05-04 20:38
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 (Address of principal executive offices) (Zip Code) For the quarterly period ended March 31, 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 registra ...
Inuvo(INUV) - 2022 Q4 - Earnings Call Transcript
2023-03-10 02:55
Inuvo, Inc. (NYSE:INUV) Q4 2022 Results Conference Call March 9, 2023 4:15 PM ET Company Participants Natalya Rudman - IR Richard Howe - CEO Wally Ruiz - CFO Conference Call Participants Jack Vander Aarde - Maxim Group Operator Greetings, and welcome to the Inuvo, Inc. Fourth Quarter and Full Year 2022 financial results. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is ...
Inuvo(INUV) - 2022 Q4 - Annual Report
2023-03-09 22:34
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 87-0450450 ...
Inuvo(INUV) - 2022 Q3 - Earnings Call Transcript
2022-11-16 01:41
Inuvo, Inc. (NYSE:INUV) Q3 2022 Results Conference Call November 15, 2022 10:00 AM ET Company Participants Natalya Rudman - Crescendo Communications Richard Howe - CEO Wallace Ruiz - CFO Conference Call Participants Jack Codera - Maxim Group Operator Good day, ladies and gentlemen, and welcome to the INUVO, Inc. Third Quarter 2022 Financial Results Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Natalya Rudman. Please go ahead. Natalya Rudman Tha ...
Inuvo(INUV) - 2022 Q3 - Quarterly Report
2022-11-14 21:37
☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________________ to ______________________ 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, 2022 OR 500 President Clinton Ave., Suite 300 Little Rock, AR 72201 (Address of principal executive offices) (Zip Code) (501) ...