On Tuesday, Inuvo, Inc. (NYSE:INUV) reported preliminary unaudited revenue results for the fourth quarter of 2024.
Inuvo is projecting revenue of approximately $26 million for Q4 2024, a 26% year-over-year increase from the $20.8 million reported in Q4 2023. The Wall Street expectation is $25.7 million.
The company said the growth would set a new record as the highest quarterly revenue in its history.
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Richard Howe, CEO of Inuvo, stated, "As discussed during our third-quarter conference call, we anticipated a double-digit increase in fourth-quarter revenue as well as a near breakeven adjusted EBITDA for the quarter. While the audit of our results has not yet been completed, we believe the optimism we expressed in November was well-founded."
The company offers IntentKey, a large-language generative AI that can identify and target audiences without consumer data, tracking, or cookies while outperforming competitors.
This advanced AI empowers marketers with Inuvo’s audience discovery and targeting technology, which can be implemented as a managed service and/or self-service.
Revenue for the three months ended September 30, 2024, was $22.4 million, a 23% sequential increase in revenue for Q3 2024 compared to Q2 2024.
Price Action: INUV stock closed 6.36% higher to $0.47 at the last check on Tuesday.
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