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

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.