Inuvo(US:INUV)2025-11-06 21:49Revenue Performance - Inuvo's net revenue for the three months ended September 30, 2025, increased by approximately $199,000 (0.9%) year-over-year, while revenue for the nine-month period increased by approximately $14.3 million (24.9%) compared to the same period in 2024[105]. - Platform clients accounted for 82.8% of overall revenue in Q3 2025, down from 83.8% in Q3 2024, while their contribution for the nine-month period was 86.2%, up from 83.6% in 2024[105]. - The company expects revenue to increase as it complies with new requirements from a Platform client that affected revenue in Q3 2025[115]. Cost and Expenses - The cost of revenue for the three months ended September 30, 2025, increased by 131.3% to $6,002,423, and for the nine months, it increased by 126.3% to $17,199,909 compared to the same periods in 2024[103][106]. - Operating expenses for the three months ended September 30, 2025, decreased by 16.0% to $18,237,852, while for the nine months, they increased by 8.1% to $60,233,075 compared to 2024[107]. - Marketing costs for the three months ended September 30, 2025, decreased by 21.4% to $13,375,136, while for the nine months, they increased by 5.8% to $45,026,458 compared to the same period in 2024[107]. Financial Position - Inuvo reported a net loss of $4,501,648 for the nine months ended September 30, 2025, compared to a net loss of $5,903,142 for the same period in 2024[118][119]. - As of September 30, 2025, Inuvo had approximately $3.4 million in cash and cash equivalents, with a net working capital deficit of $4.9 million[115]. - Inuvo's accumulated deficit reached $177.7 million as of September 30, 2025[115]. Cash Flow Activities - Net cash used in investing activities was $1,240,992 for the nine months ended September 30, 2025, primarily due to capitalized internal development costs[120]. - Net cash provided by financing activities was $3,968,636 during the nine months ended September 30, 2025, mainly from the utilization of the Financing Agreement[121]. - Net cash used in financing activities during the nine months ended September 30, 2024, was $343,526, primarily due to taxes paid on restricted stock unit grants exercised[121]. Other Financial Information - As of September 30, 2025, there are no off-balance sheet arrangements that materially affect the company's financial condition[122]. - The company does not have any market risk disclosures applicable as it is classified as a smaller reporting company[123]. Stock Activity - The company utilized its ATM Agreement to sell 165,641 shares of common stock for gross proceeds of $1,184,740 during 2025[112].