EXCLUSIVE: AI-Based Ad Solution Firm Inuvo Reports Positive Q3 Free Cash Flow And Adjusted EBITDA, Sales Jump 44%
Portfolio Pulse from Vandana Singh
Inuvo Inc (NYSE:INUV), an AI-based ad solution firm, reported Q3 net revenue of $24.6 million, a 44% increase from the same period last year. The company attributed the higher revenues to an increased focus on Indirect channels. The gross profit margin was 90.7% compared to 60.3% a year ago. The company also reported a lower Q3 net loss of $(0.01) per share compared to $(0.03) a year ago, beating the consensus of $(0.03). As of September 30, 2023, Inuvo had $7.0 million in cash and cash equivalents.
November 10, 2023 | 1:16 pm
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Inuvo Inc reported a 44% YoY increase in Q3 net revenue and a lower net loss per share, beating consensus estimates. The company's focus on Indirect channels and higher gross profit margin contributed to the positive results.
Inuvo's Q3 results exceeded expectations, with a significant increase in net revenue and a lower net loss per share. The company's strategic focus on Indirect channels and the resulting higher gross profit margin have positively impacted its financial performance. This could potentially lead to a positive reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100