AI adtech firm Inuvo Q3 revenue misses estimates

Reuters11-07
AI adtech firm Inuvo Q3 revenue misses estimates

Overview

  • Inuvo Q3 revenue rose 1% but missed analyst expectations

  • Net loss for Q3 narrowed to $1.7 mln, beating analyst estimates

  • Adjusted EPS for Q3 beat consensus, despite lower gross margin

Outlook

  • Company did not provide specific financial guidance for future quarters in its press release

Result Drivers

  • NEW CLIENTS - 23 new clients onboarded in Q3 contributed to revenue growth

  • ADVERTISING REDUCTION - Revenue growth restrained by reduced advertising to comply with major client's new requirements

  • OPERATING EXPENSES - Operating expenses declined due to reduced marketing spend related to revenue mix changes

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$22.60 mln

$25.38 mln (3 Analysts)

Q3 EPS

Beat

-$0.12

-$0.14 (3 Analysts)

Q3 Net Income

Beat

-$1.70 mln

-$1.79 mln (3 Analysts)

Q3 Gross Margin

73.40%

Q3 Gross Profit

$16.60 mln

Q3 Operating Expenses

$18.20 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy"

  • Wall Street's median 12-month price target for Inuvo Inc is $11.75, about 74.6% above its November 5 closing price of $2.98

Press Release: ID:nGNX6tHT5Z

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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