Inuvo(US:INUV)2025-05-09 12:57Revenue Performance - Inuvo's net revenue for the three months ended March 31, 2025, was $26,708,032, representing a 56.9% increase compared to $17,023,777 in the same period of 2024[93] - Revenue from Platform customers increased by 61%, while revenue from Agencies & Brands customers grew by 31%[94] Cost and Expenses - The cost of revenue rose to $5,620,941, a 167.8% increase from $2,099,042 in the same quarter of 2024, resulting in a gross margin decrease to 79.0% from 87.7%[95] - Operating expenses totaled $22,856,878, reflecting a 34.3% increase from $17,016,013 in the same period last year, driven by a 33.7% rise in marketing costs[96] - General and administrative costs surged by 153.4% to $1,744,563, influenced by a prior adjustment related to credit losses[98] Net Loss and Financial Position - The company reported a net loss of $1,259,821 for the three months ended March 31, 2025, compared to a net loss of $2,111,658 in the same period of 2024[109] - Cash and cash equivalents stood at approximately $2.6 million as of March 31, 2025, with a net working capital deficit of about $2.2 million[106] - Net cash used in operating activities was $366,912 for the three months ended March 31, 2025, an improvement from $1,355,592 in the same period of 2024[108] - The company generated $921,389 in net cash from financing activities during the three months ended March 31, 2025, primarily from the ATM Agreement[113] - Inuvo's accumulated deficit reached $174.5 million as of March 31, 2025, indicating ongoing financial challenges despite revenue growth[106]