IntentKey® Momentum Continues Amid Legacy Search Reset
Management to host conference call at
Recent 2026 Highlights
- Audience Modeling (f/k/a Agencies & Brands) Revenue Growth & Pipeline Strength: First Quarter Audience Modeling revenue grew 13% year over year on stronger client investment in IntentKey and sharpened go-to-market strategy. IntentKey pipeline remains robust.
- Enterprise Sales Momentum: Added five new major brands to IntentKey client roster, including three in the Fortune 500.
- Legacy Search (f/k/a Platforms) Reset: Legacy Search appears to have stabilized following the Bonfire reset. Costs reduced to better align with ongoing Bonfire revenue pressure.
- Platform Integrations: Launched IntentKey 4.5, announced integration with FreeWheel Buyer Cloud (a Comcast Company NYSE: CMCSA), and completed SSP and DSP integrations that expand addressable market.
- New Leadership:
Rob Buchner appointed Chairman and CEO.
“The seismic changes in our industry have created a clear divide between legacy tech and the future of AI-driven media, and
Financial Results for the First Quarter 2026
Beginning with the first quarter 2026 earnings results, the Company has renamed its business channels, where “Agencies and Brands” will now be referred to as “Audience Modeling” and “Platforms” will now be referred to as “Legacy Search.” A more fulsome description of these business channels is included in the Company’s 10-Q for the quarter ended
Net revenue decreased 70%, or
First quarter 2026 operating expenses were
Other income for the 2026 first quarter was
During the first quarter of 2026, the Company generated net income of
Liquidity and Capital Resources
As of
2026 Outlook
Inuvo’s 2026 goals are to execute on four strategic pillars, intended to drive significant revenue growth and a stronger, more resilient, compounding business:
- Go-to-market focus –
Inuvo is driving to secure more upstream, brand-direct engagements and partnerships utilizing aligned deal teams. - Raising IntentKey’s industry profile –
Inuvo intends to drive growth in its IntentKey products through intentional elevation of the brand. - Continued product innovation –
Inuvo is driving advancement of its suite of products to both deepen budget commitments and expand its addressable market. - High-margin growth –
Inuvo is focused on driving platform-led, higher margin revenues into the business as it drives to strengthen the company’s financial resilience.
“Our 2026 priorities are centered on increasing adoption and scaling IntentKey. We believe we are well-positioned to capture growing demand for intent-based audience modeling,” said Buchner. “This is a dynamic space, and we remain at the forefront of this movement. We have built a foundational, proven algorithm that we believe will translate to resilient growth and long-term shareholder value.”
Conference Call Details:
The Company will host the first quarter results call scheduled for today at
International Dial-in Number: 1-646-307-1865
Conference ID: 1145888
Webcast Link: HERE
A telephone replay will be available through
About
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Inuvo’s quarter-end financial close process and preparation of financial statements for the quarter that are subject to risks and uncertainties that could cause results to be materially different than expectations. 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
Investor Contact:
Chief Financial Officer
Tel (501) 205-8397
wallace.ruiz@inuvo.com
(Tables follow)
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (unaudited) | ||||||
| 2026 | 2025 | |||||
| Assets | ||||||
| Cash and cash equivalent | $ | 2,887,144 | $ | 2,839,921 | ||
| Accounts receivable, net | 4,326,204 | 5,887,884 | ||||
| Prepaid expenses and other current assets | 630,994 | 489,790 | ||||
| Total current assets | 7,844,342 | 9,217,595 | ||||
| Property and equipment, net | 1,567,094 | 1,629,561 | ||||
| 9,853,342 | 9,853,342 | |||||
| Intangible assets, net of accumulated amortization | 3,308,000 | 3,425,375 | ||||
| Other assets | 665,435 | 741,977 | ||||
| Total assets | $ | 23,238,213 | $ | 24,867,850 | ||
| Liabilities and Stockholders’ Equity | ||||||
| Current liabilities | ||||||
| Accounts payable | ||||||
| Accrued expenses and other current liabilities | 4,331,465 | 3,914,067 | ||||
| Outstanding borrowings under Financing Agreement | – | 3,288,100 | ||||
| Convertible notes, net | 2,148,018 | – | ||||
| Total current liabilities | 10,581,459 | 14,292,951 | ||||
| Long-term liabilities | 497,695 | 551,883 | ||||
| Total stockholders' equity | 12,159,059 | 10,023,016 | ||||
| Total liabilities and stockholders' equity | $ | 23,238,213 | $ | 24,867,850 | ||
| CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
| (unaudited) | ||||||
| Three Months Ended | ||||||
| 2026 | 2025 | |||||
| Net revenue | $ | 7,927,553 | $ | 26,708,032 | ||
| Cost of revenue | 4,263,665 | 5,620,941 | ||||
| Gross profit | 3,663,888 | 21,087,091 | ||||
| Operating expenses: | ||||||
| Marketing costs | 2,092,812 | 17,512,994 | ||||
| Compensation | 3,690,203 | 3,599,321 | ||||
| Selling, general and administrative | 1,761,827 | 1,744,563 | ||||
| Total operating expenses | 7,544,842 | 22,856,878 | ||||
| Operating loss | (3,880,954) | (1,769,787) | ||||
| Financing expense, net | 398,439 | 27,929 | ||||
| Other income | 6,177,724 | 540,571 | ||||
| Income tax expense | 2,676 | 2,676 | ||||
| Net income (loss) | $ | 1,895,655 | $ | (1,259,821) | ||
| Per common share data | ||||||
| Basic | ( | |||||
| Diluted | ( | |||||
| Weighted average shares outstanding | ||||||
| Basic | 14,736,821 | 14,271,927 | ||||
| Diluted | 14,900,134 | 14,271,927 | ||||
| RECONCILIATION OF LOSS FROM CONTINUING OPERATIONS BEFORE TAXES TO ADJUSTED EBITDA | ||||||
| (unaudited) | ||||||
| Three Months Ended | ||||||
| 2026 | 2025 | |||||
| Net income (loss) | $ | 1,895,655 | $ | (1,259,821) | ||
| Financing expense | 398,439 | 27,929 | ||||
| Income tax expense | 2,676 | 2,676 | ||||
| Depreciation and amortization | 538,786 | 568,042 | ||||
| EBITDA | 2,835,556 | (661,174) | ||||
| Stock-based compensation | 302,719 | 304,284 | ||||
| Non recurring items: | ||||||
| Impairment and amortization of referral and support services agreement advance | – | 335,000 | ||||
| Settlement Agreement | (6,163,029) | – | ||||
| Severance | 914,050 | – | ||||
| Adjusted EBITDA | $ | (2,110,704) | $ | (21,890) | ||
Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
We present EBITDA and Adjusted EBITDA as a supplemental measure of our performance. We defined EBITDA as net income/(loss) plus (i) financing expense, (ii) income tax expense, (iii) depreciation, and (iv) amortization. We further define Adjusted EBITDA as EBITDA plus (v) stock-based compensation and (vi) certain identified expenses, and (vii) less certain one-time settlement proceeds, which are not expected to recur or be representative of future ongoing operations of the business. These adjustments are itemized above. We use EBITDA and Adjusted EBITDA internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our operational performance. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating EBITDA and Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in the presentation. Our presentation of EBITDA and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.
