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, 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 ...

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, 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 ...

☐ 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) ...

For the quarterly period ended June 30, 2022 OR 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 ☐ 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, Inc. (NYSE:INUV) Q2 2022 Earnings Conference Call August 15, 2022 10:00 AM ET Company Participants Natalya Rudman - Crescendo Communications Richard Howe - CEO Wallace Ruiz - CFO Conference Call Participants Brian Kinstlinger - Alliance Global Partners Jack Vander Aarde - Maxim Operator Good day, everyone, and welcome to the Inuvo, Incorporated Second Quarter 2022 Financial Results Conference Call. Today's call is being recorded. And now at this time, I'd like to turn the call over to Natalya Rudman ...

Financial Data and Key Metrics Changes - Inuvo reported revenue of $18.6 million for Q1 2022, a 75% increase year-over-year from $10.6 million in Q1 2021 [5][16] - The trailing 12-month growth rate stands at 69% [5][25] - Gross margins for Q1 2022 were approximately 53.5%, down from 86.3% in the same period last year [18] - Adjusted EBITDA loss for Q1 2022 was approximately $703,000, an improvement from a loss of $878,000 in Q1 2021 [24] Business Line Data and Key Metrics Changes - IntentKey revenue grew approximately 280% year-over-year, while ValidClick revenue increased by 24% [5][16] - Revenue split between IntentKey and ValidClick was 44% and 56% respectively in Q1 2022, compared to 20% and 80% in the same period last year [5][17] - The largest client represented 22% of total revenue in Q1 2022, down from 40% in the same quarter last year [17] Market Data and Key Metrics Changes - Unaudited revenues for April 2022 exceeded $7 million, indicating strong growth momentum [8][25] - The advertising market is undergoing significant changes due to privacy concerns, impacting approximately $200 billion in annual advertising spend [9][10] Company Strategy and Development Direction - The company aims to capitalize on the upcoming changes in the advertising market, particularly as competitors struggle with the loss of cookies and consumer data [10][11] - Inuvo is focusing on optimizing for growth while maintaining gross margins, with plans to achieve positive adjusted EBITDA for the year [8][9] - The company is enhancing its technology and client offerings, including a new graphical user interface for AI-generated insights [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising community is largely unprepared for the upcoming changes in consumer data usage, which could lead to performance degradation for many companies [10][39] - The company expects demand to increase as the market realizes the implications of these changes, particularly when Google implements similar changes in 2023 [39] Other Important Information - The balance sheet remains strong with no debt and approximately $9 million in cash and marketable securities [9][24] - The company is in the final stages of securing an $8 million financing facility, positioning it well for growth without needing additional capital [9] Q&A Session Summary Question: Can you speak on the trend of larger clients with bigger budgets and client retention? - Management confirmed that they are signing larger clients with budgets ranging from $250,000 to $1.5 million per month, and they rarely lose clients, typically only when an agency loses a client [27][28] Question: How is the demand for new customer orders and SaaS revenue? - Demand remains strong, with April revenues indicating continued growth. Most growth is expected to come from services rather than SaaS due to high demand for full-service capabilities [29][31] Question: Are there challenges in acquiring talent? - The labor market is tight, making it harder to find qualified talent, especially in engineering and data science. However, the company continues to hire, focusing on sales and marketing roles [32][33] Question: How significant is the problem of cookies going away, particularly regarding Google? - The market problem is substantial, with many companies unprepared for the changes. Management expects demand to increase as companies realize the implications of losing cookies and consumer data [39]

Financial Performance - For the three months ended March 31, 2022, net revenue was $18,609,367, a 75.3% increase compared to $10,617,809 in the same period of 2021[86] - ValidClick revenue increased by 24% year-over-year, while IntentKey revenue surged by 280%[87] - Cost of revenue for Q1 2022 was $8,661,506, a significant increase of 499.8% from $1,444,059 in Q1 2021[86] - Operating expenses totaled $12,053,827 for Q1 2022, reflecting a 2.4% increase from $11,768,629 in Q1 2021[89] - The company reported a net loss of $2,089,263 for the three months ended March 31, 2022, compared to a net loss of $2,147,268 in the same period of 2021[103] Cash and Working Capital - As of March 31, 2022, the company had approximately $9 million in cash, cash equivalents, and marketable securities, with a net working capital of $11.2 million[95] - Net cash used in operating activities was $3,580,762 for Q1 2022, compared to $2,442,647 in Q1 2021[102] - The company has an accumulated deficit of $146.0 million as of March 31, 2022[95] Strategic Focus - The company plans to focus resources on growing its AI technology, the IntentKey, to achieve positive cash flow from operations[99] Financing Activities - The company raised $8.0 million and $6.25 million in gross proceeds from registered direct offerings in January 2021[96] Off-Balance Sheet Arrangements - As of March 31, 2022, the company has no off-balance sheet arrangements that could materially affect its financial condition or results of operations[107] - The term "off-balance sheet arrangement" refers to transactions or agreements with unconsolidated entities that may involve guarantees or contingent interests[107] - The company does not have any obligations arising from off-balance sheet arrangements that serve as credit or liquidity support[107] Market Classification - The company is classified as a smaller reporting company, thus certain market risk disclosures are not applicable[108]

Financial Data and Key Metrics Changes - Inuvo reported Q4 2021 revenue of $19.7 million, a 53% increase year-over-year and a 17% increase sequentially, with full-year revenue up 34% to $59.8 million [6][25] - Gross margins averaged approximately 73% for the year, but decreased to 57% in Q4 compared to 83% in the same quarter last year [7][26] - Adjusted EBITDA for Q4 2021 was $466,000, up from $347,000 in the same quarter last year [8][33] - The company reported a net loss of $1.2 million or $0.01 per basic share, compared to a net loss of $715,000 or $0.01 per basic share in the same quarter last year [33] Business Line Data and Key Metrics Changes - ValidClick revenue increased by 26% year-over-year in Q4, while IntentKey revenue surged approximately 121% due to new customer acquisitions [25] - IntentKey revenue represented 41% of total revenue in Q4 2021, up from 28% in the same quarter last year [26] - ValidClick gross margins were 71% in Q4 compared to 99% in the same quarter last year, while IntentKey gross margins were 37% compared to 45% [26][27] Market Data and Key Metrics Changes - The company successfully diversified its revenue sources, with the top five clients contributing 22%, 19%, 13%, 12%, and 8% of Q4 revenue, reducing reliance on a single client [10] - The average cash balance for the year was approximately $16 million, providing a strong foundation for growth [11] Company Strategy and Development Direction - Inuvo aims to leverage its technology to address the upcoming challenges in consumer privacy, which is expected to impact $200 billion of media spend [23] - The company plans to run its business close to breakeven on an adjusted EBITDA basis to capture market share during this transitional period [37] - Inuvo is focusing on integrating its ValidClick and IntentKey platforms to deliver multi-channel solutions to clients [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to scale its services and meet the growing demand for multi-channel advertising solutions [31] - The company anticipates strong year-over-year growth in Q1 2022, driven by the ongoing shift in the advertising landscape due to privacy concerns [37] Other Important Information - The company has no debt and over $13 million in cash and marketable securities as of December 31, 2021, with access to a $5 million line of credit [8][33] - Inuvo signed a deal to be a premier sponsor for a new advertising conference focused on artificial intelligence, marking a first for the company [15] Q&A Session Summary Question: How many active logos did you have running campaigns with IntentKey during the December quarter compared to the end of 2020? - Management indicated there were roughly 90 active logos, but did not have a comparison to the prior year [41] Question: Can you quantify how much of IntentKey's growth is related to new logos compared to larger campaigns or increased usage from existing customers? - The growth is largely attributed to new clients, although existing clients are also growing [42] Question: What is the average size of campaigns that IntentKey is running today, and has there been growth in the average size of campaigns from 6 or 12 months ago? - Management did not provide a specific average size but confirmed that it is larger than 12 months ago [43] Question: How are prospective brands responding to the changes that prohibit cookies? - Management emphasized that their technology does not require consumer data, which is a significant advantage in the current environment [44] Question: Can you provide an update on new IntentKey orders for Q4 and how much of the $10 million from last quarter was recognized? - A small portion of the $10 million was recognized in December, with less than 50% expected to be recognized by February [50] Question: What is the current demand for IntentKey SaaS and how do you see it growing? - Demand is primarily from direct clients wanting full-service solutions, with SaaS growth expected to be slower than initially anticipated [54] Question: Are you noticing any increase in new clients due to the upcoming cookie-less future? - There is increased discussion and confusion among clients regarding the transition, but no panic has been observed [56] Question: Where are you in terms of integrating the technologies of IntentKey and ValidClick? - Management reported that they are successfully serving multiple clients with both technologies and are confident in scaling this integration [58]