Inuvo Q3 revenue falls 70%, misses analyst estimates
INUV•Inuvo’s Q3 revenue fell 70% year over year to $6.8 million, below the $7.7 million analyst estimate, while its loss per share widened to $0.28. The company expects Q4 Audience Modeling revenue to increase from Q3 levels.
1. Revenue and outlook
Inuvo said Q3 revenue fell 70% year over year, to $6.8 million, missing analyst estimates of $7.7 million. The company reported a $5 million net loss and a 44% gross margin. Revenue fell as Legacy Search declined 80% and Audience Modeling revenue decreased 24%, which the company attributed to lower spending by a key client. Inuvo expects Q4 Audience Modeling revenue to rise compared with Q3, while Legacy Search revenue and margins are expected to remain in line with Q3.
