Inuvo(US:INUV)2024-11-08 14:24Financial Performance - Revenue for Q3 2024 was $22.4 million, representing a 23% sequential increase compared to Q2 2024[2] - Revenue from Agencies & Brands increased by 15% year-over-year, while Platforms revenue decreased by 12%[2] - Net loss for Q3 2024 was $2 million, which included a one-time $600 thousand non-cash impairment charge[2] - Revenue for the nine months ended September 30, 2024, increased by 8.5% to $57.6 million compared to the same period last year[3] - The company forecasts double-digit year-over-year revenue growth for Q4 2024[3] Profitability Metrics - Adjusted EBITDA loss improved by $310 thousand to a loss of $357 thousand in Q3 2024 compared to Q2 2024[2] - Gross profit margin for Q3 2024 was 88.4%, down from 90.7% in the same period last year[7] Financial Position - As of September 30, 2024, Inuvo had $2.6 million in cash and cash equivalents and an unused working capital facility of $10 million[11] - The company secured a $10 million credit line in July 2024[2] EBITDA and Adjusted EBITDA - The company presents EBITDA and Adjusted EBITDA as supplemental performance measures[18] - EBITDA is defined as net loss plus interest expense, income tax expense, depreciation, and amortization[18] - Adjusted EBITDA includes stock-based compensation and certain identified non-recurring expenses[18] - The company encourages evaluation of the adjustments made to EBITDA and Adjusted EBITDA[18] - Future expenses may be incurred that are similar to some adjustments presented[18] - The presentation of EBITDA and Adjusted EBITDA should not imply future results will be unaffected by unusual items[18] Product Development - The company is preparing to launch an update to its self-service IntentKey product, expected to be announced in early Q1 2025[5]