Inuvo Announces Preliminary Revenue for the Fourth Quarter and Full Year 2020
February 04 2021 - 8:30AM
Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing
technology, today announced preliminary unaudited revenue for the
fourth quarter and full year 2020.
Preliminary Financial Highlights:
- Revenue totaled $44.6 million for the full year 2020
- Revenue totaled $12.9 million for the fourth quarter 2020, an
increase of 40% sequentially
- IntentKey revenue totaled $10.4 million for the full year 2020,
an increase of 22% year-over-year
- IntentKey revenue totaled $3.6 million in the fourth quarter of
2020, an increase of 34% year-over-year
- ValidClick revenue totaled $9.3 million for the fourth
quarter 2020, an increase of 48.5% sequentially
“We continued to build momentum throughout 2020 after the
initial decline experienced in the second quarter resulting from
COVID-19. While the impacts of COVID-19 remain present within our
industry, we would expect ValidClick to be back to normal within
2021 and the IntentKey to continue growing,” stated Rich Howe, CEO
of Inuvo.
Conference Call Details:The Company is in the
process of finalizing its financial statements and will host a
conference call on Thursday, February 11, 2021 at 4:30 p.m. Eastern
time to discuss its financial results for the fourth quarter and
year ended December 31, 2020 and provide a business update.Date:
Thursday, February 11, 2021Time: 4:30 p.m. Eastern timeToll-free
Dial-in Number: 1-800-289-0438International Dial-in Number:
1-323-794-2423Conference ID: 1881018Participant
Link: http://public.viavid.com/index.php?id=143468
A telephone replay will be available through February 25, 2021.
To access the replay, please dial 1-844-512-2921 (domestic) or
1-412-317-6671 (international). At the system prompt, enter the
code 1881018 followed by the # sign. You will then be prompted for
your name, company and phone number. Playback will then
automatically begin.
Additionally, Richard Howe, CEO, and Wally Ruiz, CFO, will be
meeting with investors at the A.G.P. Virtual Emerging Growth
Technology 1x1 Conference on Thursday, February 4, 2021.
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 and is not necessarily indicative of the
results to be achieved for any future period.
About the IntentKey™ Inuvo®’s
IntentKey™ is a patented, machine-learning technology designed to
mirror the manner in which the human brain instantly associates
ideas, emotions, places, people, and objects. It creates an
accurate, high-definition picture of consumer intent and sentiment
related to a particular topic or item. Inuvo harnesses the power of
the IntentKey to discover and reach high volumes of incremental
in-market and relevant audiences that are hidden from typical
marketing approaches. The IntentKey enables pinpoint media
execution reaching consumers throughout the purchasing funnel all
the way to conversion.
About Inuvo Inuvo®, Inc. (NYSE American: INUV)
is a market leader in artificial intelligence, aligning and
delivering consumer-oriented product & brand messaging
strategies online based on powerful, anonymous and proprietary
consumer intent data for agencies, advertisers and partners. To
learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking StatementsThis
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,
2019 as filed on May 12, 2020 and our other filings with the SEC.
In addition, our expectations about fourth quarter and full-year
2020 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 and year end 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 and full year 2020 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. The information, which appears on our websites and our
social media platforms is not part of this press release.
Inuvo Company Contact: Wally Ruiz Chief
Financial Officer Tel (501) 205-8397 wallace.ruiz@inuvo.com
Investor Relations: KCSA Strategic
CommunicationsValter Pinto, Managing DirectorTel (212)
896-1254Valter@KCSA.com
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