Inuvo, Inc. INUV
Inuvo is a market leader in generative artificial intelligence for modeling media audiences. As a leading provider of AI-driven data and advertising technology solutions, we have successfully commercialized a proprietary, patented large language model ("LLM") that identifies and actions the reasons why consumers are interested in products, services, or brands - rather than who they are - offering a high-performance, privacy-by-design solution for the modern advertising landscape.
Intelligence for the Agentic Era. As the industry moves toward "agentic" systems - where autonomous AI agents increasingly handle the planning and execution of media tasks - Inuvo is uniquely positioned as a critical intelligence layer. Unlike legacy systems that rely on static historical data or consumer IDs (cookies), Inuvo's technology provides the real-time, intent-based reasoning required for autonomous media planning and activation. By serving as the neural network for these adaptive systems, Inuvo enables brands to move from traditional audience targeting to dynamic model planning.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.2M | $83.8M | $73.9M | $75.6M | $59.8M | $44.6M | $61.5M | $73.3M | $79.6M | $71.5M |
| Cost of revenue | $22.0M | $12.0M | $10.5M | $30.2M | $15.9M | $8.3M | $22.7M | $29.9M | $36.7M | $21.4M |
| Gross profit | $64.2M | $71.8M | $63.4M | $45.4M | $43.9M | $36.3M | $38.8M | $43.4M | $42.9M | $50.2M |
| SG&A | $6.9M | $5.5M | $8.1M | $8.6M | $7.2M | $7.6M | $8.7M | $8.5M | $8.3M | $5.0M |
| Total operating expenses | $70.9M | $77.3M | $73.8M | $58.0M | $51.7M | $44.4M | $46.6M | $48.9M | $47.1M | $51.0M |
| Operating income | -$6.7M | -$5.5M | -$10.4M | -$12.6M | -$7.8M | -$8.0M | -$7.7M | -$5.5M | -$4.2M | -$857.2K |
| Interest expense | — | — | — | — | $87.0K | $253.5K | $482.2K | $420.5K | — | — |
| Pre-tax income | -$5.1M | -$5.8M | -$10.4M | -$13.1M | — | -$7.3M | -$4.8M | -$5.9M | -$4.6M | -$957.1K |
| Income tax | $10.7K | $8.0K | $17.8K | $0 | — | $0 | $334.4K | $0 | $1.5M | $29.3K |
| Net income | -$5.1M | -$5.8M | -$10.4M | -$13.1M | -$7.6M | -$7.3M | -$4.5M | -$5.9M | -$3.1M | -$772.6K |
| EPS, basic | — | — | — | -0.11 | -0.06 | -0.09 | -0.11 | -0.19 | -0.11 | -0.03 |
| EPS, diluted | — | -0.04 | -0.08 | -0.11 | -0.06 | -0.09 | -0.11 | — | — | — |
| Shares, diluted (wtd. avg.) | $14.5M | $14.0M | $131.1M | $119.8M | $117.6M | $77.5M | $40.5M | $31.0M | $28.2M | $24.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.8M | $2.5M | $4.4M | $2.9M | $10.5M | $7.9M | $373.0K | $229.0K | $4.1M | $3.9M |
| Short-term investments | — | — | $0 | $1.5M | $1.9M | $0 | — | — | — | — |
| Receivables | $5.9M | $12.5M | $9.2M | $11.1M | $9.3M | $6.2M | $7.5M | $6.7M | $10.8M | $7.6M |
| Total current assets | $9.2M | $15.6M | $14.7M | $16.4M | $23.1M | $14.5M | $8.1M | $7.2M | $15.2M | $11.8M |
| Property, plant and equipment | $1.6M | $1.8M | $1.7M | $1.7M | $1.5M | $1.2M | $1.4M | $2.1M | $2.3M | $1.6M |
| Goodwill | $9.9M | $9.9M | $9.9M | $9.9M | $9.9M | $9.9M | $9.9M | $9.9M | $9.9M | $5.8M |
| Other intangibles | $3.4M | $3.9M | $4.7M | $5.6M | $6.7M | $8.6M | $10.5M | $9.4M | $10.8M | $8.3M |
| Total assets | $24.9M | $32.2M | $32.4M | $35.6M | $44.0M | $35.2M | $30.7M | $28.7M | $38.2M | $27.6M |
| Accounts payable | $7.1M | $8.4M | $6.4M | $8.0M | $4.8M | $4.0M | $7.5M | $9.5M | $13.6M | $9.3M |
| Total current liabilities | $14.3M | $17.9M | $14.5M | $13.6M | $10.7M | $8.7M | $15.7M | $14.1M | $21.4M | $12.0M |
| Long-term debt | — | — | — | — | — | $0 | $3.4M | $1.9M | $4.9M | $0 |
| Retained earnings | -$178.3M | -$173.2M | -$167.4M | -$157.1M | -$144.0M | -$136.4M | -$129.0M | -$124.6M | -$120.6M | -$117.5M |
| Total equity | $10.0M | $13.5M | $17.0M | $21.7M | $32.8M | $25.3M | $14.5M | $12.9M | $14.1M | $11.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.8M | $229.6K | -$2.6M | -$5.6M | -$5.3M | -$5.6M | -$5.3M | -$2.1M | -$1.1M | $1.1M |
| Depreciation and amortisation | $1.8M | $1.7M | $1.7M | $2.6M | $3.1M | $3.2M | $3.2M | $3.2M | $3.0M | $2.2M |
| Stock-based compensation | $1.1M | $1.5M | $2.0M | $2.4M | $2.2M | $858.7K | $789.9K | $915.5K | $1.3M | $1.3M |
| Capital expenditure | $1.6M | $1.9M | $1.7M | $1.7M | $1.6M | $1.2M | $1.2M | $1.6M | $1.6M | $1.1M |
| Investing cash flow | -$1.6M | -$1.9M | $606.2K | -$1.7M | -$4.6M | -$1.2M | -$1.2M | -$1.6M | -$1.3M | -$1.1M |
| Financing cash flow | $3.8M | -$353.4K | $3.5M | -$304.4K | $12.5M | $14.3M | $6.7M | -$120.6K | $2.6M | -$247.0K |
| Buybacks | — | — | — | — | — | — | — | $0 | $44.8K | $22.5K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001654954-26-001943.
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