Inuvo, Inc.

Listed Company

INUVCIK 0000829323NYSENon-AcceleratedSmaller ReportingServices-AdvertisingNevadaFY ends Dec 31

Period

FY 2025

Revenue

$86.21M

Net Income

$-5.10M

Total Assets

$24.87M

Equity

$10.02M

Shares Out

14.71M

Op. Cash Flow

$-1.79M

Business

Inuvo, Inc. is an advertising technology and services company that has developed large language generative AI to discover and target digital audiences without tracking consumer identities. It offers IntentKey AI for consumer intent recognition, data analytics, ad placement, fraud prevention, content management and website creation, delivered as managed services or self-service SaaS. Key business segments are Platforms, which partners with major advertising platforms, and Agencies & Brands, which uses the AI to reach targeted audiences. It distributes digital advertising across devices, websites, applications and browsers via programmatic, search, social, display, video, audio, native and connected TV channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	86	84	—	—	—
Cost of revenue	22	12	—	30	16
Gross profit	64	72	63	45	44
Marketing costs	52	60	—	37	33
Compensation	12	12	14	12	11
General and administrative	7	6	8	9	—
Total operating expenses	71	77	74	58	52
Operating loss	−7	−6	−10	−13	−8
Financing expense, net	−259,884	−266,772	−29,570	−21,111	−86,983
Other income	2	26,812	14,668	—	—
Loss before taxes	−5	−6	—	—	—
Income tax expense	−10,705	−8,030	17,764	0	—
Net loss	−5	−6	−10	−13	−8
Net loss	−0.35	−0.41	—	—	—
Basic	14	14	131	120	118
Diluted	14	14	131	120	118

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	3	2	4	3	10
Accounts receivable, net of allowance for credit losses of $98,954 and $144,625, respectively	6	13	9	11	9
Prepaid expenses and other current assets	489,790	639,805	—	—	—
Total current assets	9	16	15	16	23
Property and equipment, net	2	2	2	2	2
Right of use assets - operating lease	663,635	913,439	805,786	310,162	641,306
Right of use assets - finance lease	0	18,209	72,560	168,750	201,902
Intangible assets, net of accumulated amortization	3	4	5	6	7
Goodwill	10	10	10	10	10
Other assets	78,342	78,342	—	—	—
Total other assets	14	15	16	—	—
Total assets	25	32	32	36	44
Accounts payable	7	8	6	8	5
Accrued expenses and other current liabilities	4	9	8	5	5
Lease liability - operating leases	294,093	259,867	123,074	287,523	340,478
Lease liability - finance lease	0	18,209	50,801	101,003	102,954
Outstanding borrowings under Financing Agreement	3	0	—	—	—
Total current liabilities	14	18	15	14	11
Deferred tax liability	107,971	97,266	89,238	107,000	107,000
Lease liability - operating lease	443,912	738,005	751,821	23,878	300,827
Total long-term liabilities	551,883	835,271	859,484	212,208	526,540
Preferred stock, $0.001 par value: Authorized shares - 500,000 - none issued and outstanding	0	0	0	0	0
Common stock, $0.001 par value: Authorized shares 200,000,000; issued and outstanding shares 14,701,949 and 14,050,204 respectively;	14,703	14,051	137,983	120,138	118,748
Additional paid-in capital	188	187	184	179	177
Accumulated deficit	−178	−173	−167	−157	−144
Total stockholders' equity	10	13	17	22	33
Total liabilities and stockholders' equity	25	32	32	36	44

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−5	−6	−10	−13	—
Depreciation and amortization	2	3	3	—	—
Amortization of right of use assets - financing	18,209	54,356	96,190	—	—
Amortization of right of use assets - operating lease	249,804	227,628	609,524	—	—
Stock based compensation	1	2	2	2	2
Amortization of financing fees	0	20,000	8,333	2,500	12,500
Impairment and amortization of referral and support services agreement advance	0	800,000	300,000	—	—
Adjustment to expected losses on accounts receivable	−45,671	−1	786,549	1	7,487
Deferred income tax expense	10,701	8,028	−17,764	0	—
Derecognition of contingency and grant	0	−35,000	0	−10,000	—
Accounts receivable	7	−2	1	−3	−3
Prepaid expenses, other current assets and other assets	150,064	111,320	−263,569	578,009	−992,978
Accounts payable	−1	2	—	—	—
Accrued expenses and other liabilities	−6	2	3	−205,762	1
Lease liability - operating lease	−259,867	−212,309	−541,654	—	—
Net cash provided by/(used in) operating activities	−2	229,554	−3	−6	−5
Purchases of equipment and capitalized development costs	−2	−2	−2	−2	−2
Net cash provided by/(used in) investing activities	−2	−2	606,190	−2	−5
Proceeds from at-the-market sales, net	1	0	4	0	13
Proceeds net of payments on Financing Agreement	3	0	—	—	—
Principal payments on finance lease obligations	−18,209	−50,801	−102,340	−107,539	−257,679
Net taxes paid on restricted stock unit grants exercised	−650,299	−302,587	−166,872	−196,894	−272,049
Net cash provided by/(used in) financing activities	4	−353,388	3	−304,433	12
Net change - cash	380,676	−2	2	—	—
Interest paid	482,420	337,961	105,148	18,612	55,476
Acquisition of right of use asset for operating lease liability	0	335,286	1	—	—
Issuance of 3,287,537 restricted stock units to settle accrued incentive liability	0	1	—	—	—

Filings

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