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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $71.5M | $79.6M | $73.3M | $61.5M | $44.6M | $59.8M | $75.6M | $73.9M | $83.8M | $86.2M |
| Gross profit | $50.2M | $42.9M | $43.4M | $38.8M | $36.3M | $43.9M | $45.4M | $63.4M | $71.8M | $64.2M |
| Net income | -$772.6K | -$3.1M | -$5.9M | -$4.5M | -$7.3M | -$7.6M | -$13.1M | -$10.4M | -$5.8M | -$5.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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