Inuvo Reports Record Fourth Quarter 2024 Revenue of $26.2 Million, 26% Year-Over-Year Growth and Net Income

Core Insights - Inuvo, Inc. reported a record-breaking fourth quarter in 2024 with a revenue of $26.2 million, representing a 26% year-over-year growth, contributing to a full-year revenue increase of 13% to $83.8 million [2][3][6] Financial Performance - Q4 2024 net income was $141 thousand, a significant improvement from a net loss of $2.4 million in Q4 2023 [6][10] - Adjusted EBITDA for Q4 2024 was $1.2 million, compared to a loss of $1.2 million in the same quarter last year [6][11] - Full-year net loss decreased by 45% to $5.8 million from a loss of $10.4 million in 2023 [6][10] Revenue and Cost Analysis - Cost of revenue for Q4 2024 was $4.4 million, up from $2.6 million in Q4 2023, driven by higher revenue from Platform clients [4] - Gross profit for Q4 2024 was $21.8 million, a 20% increase from $18.2 million in Q4 2023, with gross profit margins of approximately 83.1% [5][6] Operational Highlights - Inuvo made significant technological advancements in 2024, particularly with the IntentKey Self-Serve Platform, enhancing advertising capabilities [2] - The company secured a Master Services Agreement with a major global retailer and signed 33 new agencies/brands during the year [6] Liquidity and Capital Resources - As of December 31, 2024, Inuvo had $2.5 million in cash and cash equivalents, an unused working capital facility of $10 million, and no debt [12]