Inuvo Inc. (NYSE:INUV) reported Thursday a second-quarter loss of 10 cents, compared to 12 cents a year ago, which is in line with the consensus estimates.
Net loss for the quarter was $1.5 million compared to a net loss of $1.7 million.
The artificial intelligence AdTech solutions provider reported sales of $22.67 million, which was below the consensus estimate of $23.73 million.
Revenues jumped 25% year over year. Revenue from the company’s two largest Platform clients and two largest Agencies & Brands clients grew year-over-year.
Also Read: Inuvo Is Better Aligned With Consumer Demand For Privacy, New Regulations: Analyst
Cost of revenue was $5.6 million, up from $2.9 million in the second quarter of 2024, related to higher Platform revenue.
Gross profit increased 12% to $17.1 million, representing a gross margin of 75.4%, compared to $15.3 million and a gross margin of 84.0% a year ago. The lower gross margin year-over-year was primarily due to a change in product mix. Operating expenses were $19.1 million compared to $17.0 million.
Adjusted EBITDA improved to a loss of $0.6 million from a loss of $0.7 million in the year-ago period.
Price Action: INUV stock closed 0.76% lower at $5.25 on Thursday.
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