Inuvo Q1 revenue falls 37% YoY to $11.8M; net loss widens to $3.4M

Inuvo, Inc.

2023-Q1 EPS reported -$0.03 revenue$11,847,440

Net revenue $11.8M vs $18.6M YoY; loss of Direct customer and softening ad demand cited.
Net loss $3.4M ($0.03/share) vs $2.1M ($0.02/share); Adj. EBITDA loss $2.3M vs $703K.
Gross margin improved to 73.1% from 53.5% due to higher-margin Indirect client mix.
Cash $2.0M; working capital $732K; $593K drawn on $5M facility; 121.6M shares outstanding.
Webinar May 5 to unveil new generative AI developments; CEO highlights $50M AI investment.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Inuvo, Inc. reported the first quarter ended March 31, 2023 results: revenue $11.8 million, net income $3.4 million, EPS $0.03 per basic and diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $11.8 million
Net income: $3.4 million
EPS: $0.03 per basic and diluted share
Result: reported results

Exact text from the filing

Net revenue for the first quarter of 2023 totaled $11.8 million, compared to $18.6 million for the same period last year.

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Inuvo, Inc. filing history →

Source: SEC EDGAR

accession 0000829323-23-000020

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