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Inuvo, Inc. (NYSE American: INUV) is a pioneering advertising technology company that offers innovative solutions for both advertisers and publishers. The company's core focus is on developing and selling technologies that deliver targeted advertisements across various devices and formats, ensuring that consumers receive relevant content based on their interests.
Inuvo's flagship products include ValidClick and IntentKey. ValidClick is a comprehensive advertising platform that facilitates the placement of digital ads across multiple channels, such as social media, video, mobile, connected TV, and display. IntentKey, on the other hand, is a proprietary AI-driven solution designed to understand the underlying reasons behind consumer interests. This allows advertisers to target audiences more effectively without relying on traditional identifiers like cookies.
With a diverse client base spanning industries such as retail, automotive, insurance, healthcare, technology, telecommunications, and finance, Inuvo has established a strong market presence. The company's revenue is generated primarily through the placement of digital ads on various platforms, including websites, applications, and browsers, leveraging social, search, and programmatic advertising channels.
Recent achievements highlight Inuvo's significant growth and financial performance. For the third quarter of 2023, the company reported a record revenue of $24.6 million, marking a 44% year-over-year increase. This growth was driven by a strategic shift towards indirect channels, which offer access to multiple end-clients and typically yield higher gross margins. The company's gross profit margin for this period stood at an impressive 90.7%, underscoring the effectiveness of its business model.
Inuvo is also at the forefront of addressing industry changes, particularly the move towards privacy-first advertising solutions. The company's AI-powered IntentKey is well-positioned to navigate the evolving landscape, ensuring compliance with new privacy regulations while maintaining the ability to deliver highly targeted ads. This capability is especially crucial as traditional ad-targeting methods become obsolete.
Inuvo's operational footprint includes teams of developers, designers, writers, marketers, advertising experts, data analysts, and testers located in California and Arkansas. This diverse and skilled workforce drives the company's innovation and success.
Looking ahead, Inuvo continues to explore new opportunities and expand its offerings. The recent launch of its AI-as-a-Service solution signifies a step towards empowering clients with tools to enhance their marketing strategies independently. Additionally, the company's ongoing enhancements to the IntentKey platform, including its ability to integrate trending events into audience discovery, demonstrate Inuvo's commitment to staying ahead of the curve in the rapidly evolving ad-tech industry.
Inuvo reported its third quarter 2022 results, marking its sixth consecutive quarter of year-over-year revenue growth. Revenues increased 45% year-to-date to $58.3 million, with Q3 revenues at $17.1 million, up 1% from last year. The IntentKey platform saw a 12% revenue increase, but overall performance was impacted by client losses and a 3% decline in ValidClick revenue. The company ended the quarter with $7.7 million in cash and no debt, emphasizing a focus on scaling its AI technology and expecting positive cash flow moving forward.
Inuvo, Inc. (NYSE American: INUV) will host a conference call on November 15, 2022, at 10:00 a.m. ET to discuss its third-quarter financial results for the period ending September 30, 2022.
The call will provide essential updates on the company's performance and business strategy. Interested parties can join via the provided toll-free number or through an online webcast. A replay of the call will be accessible until November 29, 2022.
Inuvo, a leader in AI-driven marketing technology, will present at the MicroCap Rodeo Windy City Roundup 2022 Conference on October 12 in Chicago. Chief Financial Officer Wallace Ruiz is scheduled to speak at 2:00 PM CT. The presentation will be webcasting live and available for replay. Inuvo will also engage in one-on-one meetings with qualified investors during the event. The MicroCap Rodeo features over 60 microcap companies, allowing investors to connect with management teams and explore investment opportunities.
Inuvo, Inc. (NYSE: INUV) reported a case study demonstrating its IntentKey™ technology's effectiveness in cookie-free environments. A campaign for a luxury fitness club resulted in a 469% increase in organic searches and a 73% increase in qualified leads within the first month. CEO Richard Howe highlighted that 40% of U.S. web traffic comes from Safari and Firefox, where traditional ad targeting faces challenges. IntentKey™ offers an innovative approach by focusing on user intent, improving ad targeting without reliance on third-party data, thereby leveraging the growing demand for privacy-centric solutions.
Inuvo, Inc. (NYSE American: INUV) will be presenting at the H.C. Wainwright 24th Annual Global Investment Conference from September 12th to 14th, 2022. CEO Richard Howe is set to present on September 12th at 12:00 PM ET. The conference will feature both virtual and in-person attendance at the Lotte New York Palace Hotel. Attendees can access the presentation via the conference portal or watch the replay on Inuvo's Investor Relations page. Management will also hold one-on-one meetings with qualified investors.
Inuvo, Inc. (NYSE American: INUV) reported strong financial results for Q2 2022, with revenue increasing by 79.3% year-over-year to $22.7 million. For the first half of the year, revenue reached $41.3 million, up 77.4% year-over-year. IntentKey platform revenue surged by 197%, while ValidClick revenue grew by 44%. However, the company faced a net loss of $3.2 million for Q2 due to high operating expenses and losses related to fraudulent media purchases. As of June 30, 2022, Inuvo held $8.4 million in cash and had no debt.
Inuvo, a leader in AI-based marketing technology, will hold a conference call on August 15, 2022, at 10:00 a.m. ET to discuss its Q2 financial results for the period ending June 30, 2022, and provide a business update. Interested parties can join by calling 1-888-394-8218 or 1-323-701-0225 internationally, with Conference ID 3117716. A replay of the call will be available until August 29, 2022. Inuvo specializes in AI solutions that help brands understand consumer intent.
Inuvo, Inc. (NYSE American: INUV), a provider of AI-driven marketing technology, will participate in the Cannes Lions Festival on June 23, 2022. The company's leadership, including CEO Rich Howe, is challenging competitors in the ad-tech sector. Inuvo's board member Jon Bond highlighted the challenges with current ad tracking methods and the decline of persistent identifiers. Inuvo's AI product, IntentKey, targets users without relying on traditional identification methods. The company offers to waive fees if it fails to meet clients' goals in comparison tests with other ad-tech vendors.
Inuvo (NYSE American: INUV) has partnered with Brand Innovators to host the inaugural Marketing AI Conference: the Future of AI & Personalization Summit in New York on June 8, 2022. The event will gather major brands and agencies, including PepsiCo and IBM, to explore using AI in marketing. CEO Rich Howe emphasized the shift away from traditional consumer targeting methods, highlighting Inuvo's proprietary IntentKey technology as a solution for effective advertising. This summit addresses the industry's evolving landscape in AI-driven marketing strategies.
Inuvo (NYSE American: INUV) announced its participation in the virtual Spring Into Action - Best Ideas Investor Conference from May 16-20, 2022. CFO Wally Ruiz will present on May 18 at 10:00 a.m. ET, with a live webcast and replay accessible. Investors can schedule one-on-one meetings with management throughout the event. The conference showcases the top 36 companies recommended by qualified institutional investors, emphasizing Inuvo's innovative AI technology for marketing.
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