$Inuvo (INUV.US)$ NEWS Inuvo Reports 44% Year-Over-Year Reve...
NEWS
Inuvo Reports 44% Year-Over-Year Revenue Growth to $17.0 Million for the First Quarter of 2024
Positive
Revenue increased by 44% to $17.0 million in Q1 2024.
Positive
Revenue increased by 44% to $17.0 million in Q1 2024.
Gross profit surged by 72% to $14.9 million in Q1 2024.
Gross margin improved to 87.7% in Q1 2024 from 73.1% in Q1 2023
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Adjusted EBITDA showed a 56% improvement with a loss of $1.0 million, and net loss decreased by 38% to $2.1 million in Q1 2024.
Adjusted EBITDA showed a 56% improvement with a loss of $1.0 million, and net loss decreased by 38% to $2.1 million in Q1 2024.
Inuvo launched innovative solutions like an omnichannel measurement tool, AI-as-a-service solution, and enhanced audience targeting capabilities.
The company reaffirmed its ability to navigate Google's privacy changes and adapt to a cookieless future.
Negative
Operating expenses increased to $17.0 million in Q1 2024, attributed to higher marketing costs.
Net loss for the quarter was $2.1 million, indicating a decline compared to the previous year.
Adjusted EBITDA reported a loss of $1.0 million in Q1 2024.
The company had $2.4 million in cash and cash equivalents as of March 31, 2024.
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