LITTLE ROCK, Ark., Feb. 16, 2022 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announced preliminary unaudited revenue for the fourth quarter of 2022 totaling approximately $19.7 million, an increase of approximately 53% year-over-year, as compared to the fourth quarter of 2020, and approximately 17% sequentially as compared to the third quarter of 2021. IntentKey and ValidClick revenues are expected to be up roughly 121% and 26% over the prior year quarter.
Rich Howe, Chief Executive Officer of Inuvo, commented, “Strong growth continued throughout the fourth quarter. As the advertising industry continues to transition away from using consumer data to prospect for new customers, Inuvo, with its artificial intelligence-based alternative, is well positioned to gain market share. The IntentKey, which takes a completely different approach to ad-targeting, has already demonstrated superior results against the best of the consumer data-based methods and this performance gap is likely to get larger as the internet mechanisms for using consumer-data get reduced.”
The preliminary financial information in this press release has been prepared internally by management and has not been reviewed or audited by our independent registered public accounting firm. There can be no assurance that actual results will not differ from the preliminary financial information presented herein and such changes could be material. This preliminary financial data should not be viewed as a substitute for full financial statements prepared in accordance with GAAP.
Inuvo®, Inc. (NYSE American: INUV) is a market leader in Artificial Intelligence built for advertising. Its IntentKey AI solution is a first-of-its-kind proprietary and patented technology capable of identifying and actioning to the reasons why consumers are interested in products, services, or brands, not who those consumers are. To learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Inuvo, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our other filings with the SEC. In addition, our expectations about fourth quarter 2021 results are based on preliminary unreviewed information about the fourth quarter and are subject to revision. Although the fourth quarter is now completed, we are still in the process of our standard financial reporting closing procedures. Accordingly, following completion of our normal quarter closing and review processes, it may turn out that actual results differ materially from these preliminary results. Factors that could cause our actual results for the fourth quarter to differ materially from our preliminary results include, but are not limited to, inaccurate assumptions, unrecorded expenses, changes in estimates or judgments, and facts or circumstances affecting the application of our critical accounting policies. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo, Inc. and are difficult to predict. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events, or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release. The information, which appears on our websites and our social media platforms is not part of this press release.
Inuvo Company Contact:
Chief Financial Officer
Tel (501) 205-8397
Investor Relations :
KCSA Strategic Communications
Valter Pinto, Managing Director
Tel (212) 896-1254