Inuvo Q2 revenue $16.7M, up 40% sequentially; net loss $3.4M; margins improve to 85.8%

Inuvo, Inc.

2024-Q2 EPS reported -$0.05 revenue$28,498,845

Net revenue of $16.7M, up 40% sequentially from Q1 2023, but down from $22.7M YoY due to loss of Direct Customer.
Net loss of $3.4M ($0.03/share) compared to $3.2M loss in Q2 2022; adjusted EBITDA loss of $1.8M vs $142K loss.
Gross profit margin improved to 85.8% from 59.1% YoY on revenue mix shift to higher-margin Indirect Customers.
Signed 10 new clients, launched new product, added President (former MediaKitchen CEO), and completed $4M capital raise.
Cash of $5.0M, working capital $2.0M; $5M credit facility undrawn; 137.8M shares outstanding.

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 second quarter ended June 30, 2023 results: revenue $16.7 million, net income net loss of $3.4 million, EPS $0.03 per basic and diluted share.

Period: second quarter ended June 30, 2023
Revenue: $16.7 million
Net income: net loss of $3.4 million
EPS: $0.03 per basic and diluted share
Result: reported results

Exact text from the filing

Net revenue for the second quarter of 2023 totaled $16.7 million, compared to $22.7 million for the same period last year.

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Inuvo, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-010497

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