Inuvo Reports Second Quarter 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Inuvo Reports Second Quarter 2024 Financial Results
Inuvo, Inc. has released its earnings report for the second quarter of 2024, showcasing a mix of growth and some areas for improvement in its financial and operational performance. Below is a summary of the key financial figures and metrics, along with an analysis of their implications.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | Q1 2024 | QoQ Change | Consensus Estimates |
|---|---|---|---|---|---|---|
| Total Revenue | $18.209 million | $16.651 million | +9.4% | $17.024 million | +7.0% | $20.97 million |
| Earnings Per Share (EPS) | -$0.03 | -$0.04 | +25% | -$0.01 | -200% | -$0.02 |
Interpretation: Inuvo saw a 9.4% increase in total revenue year-over-year, with a significant quarter-over-quarter growth of 7.0%. However, its total revenue fell short of the consensus estimate of $20.97 million. Additionally, the company posted an EPS of -$0.03, slightly worse than the expected -$0.02 and last quarter's -$0.01. The improvement in year-over-year EPS of 25% is a positive indicator but the decline from the previous quarter indicates some financial challenges.
Revenue Breakdown by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| Platforms | $15.08 million | $13.09 million | +15.2% |
| Agencies and Brands | $3.13 million | $3.55 million | -11.8% |
Interpretation: The Platforms segment experienced a robust 15.2% year-over-year increase in revenue, indicating growing demand in this area. On the other hand, revenue from Agencies and Brands declined by 11.8% year-over-year, which suggests challenges in scaling or retaining this customer segment.
Stock Price Movement
- After the earnings release, Inuvo's stock price saw an increase of 5.60%.
Conclusion: Inuvo exhibited solid revenue growth from its Platforms segment while facing downturns in both its income from Agencies and Brands and EPS figures. The announcement had a positive impact on their stock price, which increased by 5.60%. However, the absence of forward guidance and officer comments as well as the failure to meet revenue estimates signal areas for investor caution.
