Marketing technology provider Inuvo Inc. of Little Rock said Thursday that its third-quarter loss narrowed to $1.38 million, or 2 cents per share.
The company (Nasdaq: INUV) reported a loss of $2.4 million, or 3 cents per share, in the same quarter last year.
Inuvo Chairman and CEO Rich Howe told Arkansas Business in July that his business has prioritized revenue growth over profitability. Indeed, third-quarter revenue for the company was up 83% year-over-year, to $16.8 million from $9.21 million in the same period a year ago.
Third-quarter revenue from the company’s ValidClick business was up 88% year-over-year, and revenue from its IntentKey platform was up 71%.
“Revenue for the third quarter grew 83% year-over-year and 33% sequentially driven by significant growth in both platforms,” Howe said in a news release. “We signed in excess of $10 million worth of IntentKey orders within the quarter that we expect to deliver over a nine-month period beginning in the fourth quarter and as we had been messaging throughout the year, we achieved a positive Adjusted EBITDA in September.”
He also said the company expects revenue growth to continue throughout the fourth quarter.
Operating expenses for the second quarter were $14.8 million, up from $10 million for the same quarter of 2020.
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