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Mar 31, 2023
Inuvo Q1 2023 Earnings Report
Inuvo reported financial results for the first quarter of 2023, revealing revenue of $11.8 million and a net loss of $3.4 million.
Key Takeaways
Inuvo's Q1 2023 revenue was $11.8 million, a decrease from $18.6 million in the same period last year, attributed to a lost Direct customer and softened ad demand. The company experienced a net loss of $3.4 million, or $0.03 per share, compared to a net loss of $2.1 million, or $0.02 per share, in the previous year. Despite lower revenue, Inuvo's gross margin increased due to a shift towards Indirect clients and improved Direct client margins.
Q1 2023 revenue totaled $11.8 million, down from $18.6 million year-over-year.
Net loss for Q1 2023 was $3.4 million, or $0.03 per share, compared to a net loss of $2.1 million, or $0.02 per share, in the same period last year.
Gross profit for Q1 2023 was $8.7 million, with a gross margin of 73.1% compared to 53.5% in the same quarter last year.
Cash and cash equivalents stood at $2.0 million as of March 31, 2023.
Forward Guidance
Inuvo anticipates converting its strong sales pipeline in the coming months, leveraging the growing obsolescence of traditional data technologies and the superiority of its AI technology.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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