EXCLUSIVE: Artificial Intelligence-Based Advertising Firm Inuvo Securing $10M Credit Line, Strengthens Financial Position
Portfolio Pulse from Vandana Singh
Inuvo Inc. (NYSE:INUV) has secured a $10 million asset-based credit facility from SLR Digital Finance to support its growth and operations. The funding will enhance liquidity and financial flexibility, aiding the adoption of its AI-based advertising solutions. The company reported a 44% year-over-year increase in Q1 2024 net revenue, though it still posted a net loss of $2.1 million.
July 31, 2024 | 11:31 am
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Inuvo Inc. has secured a $10 million credit facility to support its growth and AI-based advertising solutions. The company reported a 44% increase in Q1 2024 net revenue but still posted a net loss of $2.1 million.
The $10 million credit facility will provide Inuvo with the necessary liquidity to continue its growth and adoption of AI-based advertising solutions. The significant increase in revenue is a positive indicator, although the net loss remains a concern. Overall, the news is likely to have a positive short-term impact on the stock price.
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