10-Q Filing

INUVO, INC. CIK: 829323 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000829323-16-000080`
Period End Date	20160331
Filing Date	20160427
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	inuv-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 50

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.74K	USD	Point-in-time
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.20K	USD	Point-in-time
Cash	`Cash`	$4.43M	USD	Point-in-time
Cash	`Cash`	$4.26M	USD	Point-in-time
Preferred stock par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $16,736 and $17,200, respectively	`AccountsReceivableNetCurrent`	$7.00M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $16,736 and $17,200, respectively	`AccountsReceivableNetCurrent`	$5.07M	USD	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$16.15K	USD	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$8.73K	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$345.75K	USD	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$280.62K	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.79M	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.62M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.85M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81M	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	24.75M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	24.82M	shares	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$9.32M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.38M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.45M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$9.09M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$224.76K	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$218.75K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$15.07M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$15.31M	USD	Point-in-time
Total assets	`Assets`	$26.71M	USD	Point-in-time
Total assets	`Assets`	$28.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.66M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.86M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.25M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$3.80M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$3.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$701.96K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$722.72K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.52M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.50M	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares 500,000, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares 500,000, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000; issued shares 24,823,798 and 24,752,408, respectively; outstanding shares 24,447,271 and 24,375,881, respectively	`CommonStockValue`	$24.75K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000; issued shares 24,823,798 and 24,752,408, respectively; outstanding shares 24,447,271 and 24,375,881, respectively	`CommonStockValue`	$24.82K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.37M	USD	Point-in-time
Treasury stock, at cost - 376,527 shares	`TreasuryStockValue`	$1.40M	USD	Point-in-time
Treasury stock, at cost - 376,527 shares	`TreasuryStockValue`	$1.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.73M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$18.73M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$13.42M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$6.07M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$4.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.35M	USD	1 Quarter
Marketing costs	`SearchCosts`	$11.07M	USD	1 Quarter
Marketing costs	`SearchCosts`	$4.92M	USD	1 Quarter
Compensation	`SalariesAndWages`	$1.72M	USD	1 Quarter
Compensation	`SalariesAndWages`	$1.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$987.77K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.04M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$250.76K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$403.01K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$51.16K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$23.61K	USD	1 Quarter
Income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$199.60K	USD	1 Quarter
Income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$379.40K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$7.24K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-406.45K	USD	1 Quarter
Net income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$606.05K	USD	1 Quarter
Net income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$372.16K	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$20.26K	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$2.11K	USD	1 Quarter
Net income	`ProfitLoss`	$374.27K	USD	1 Quarter
Net income	`ProfitLoss`	$626.31K	USD	1 Quarter
Net income (loss) from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.02	USD	1 Quarter
Net income (loss) from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	1 Quarter
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income (in usd per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income (in usd per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.38M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.09M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.57M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.24M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$374.27K	USD	1 Quarter
Net income	`ProfitLoss`	$626.31K	USD	1 Quarter
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	-	USD	1 Quarter
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	$406.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$370.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$540.56K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$51.92K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$359.34K	USD	1 Quarter
Amortization of financing fees	`AmortizationOfFinancingCosts`	$6.40K	USD	1 Quarter
Amortization of financing fees	`AmortizationOfFinancingCosts`	$9.53K	USD	1 Quarter
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$5.14K	USD	1 Quarter
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$20.46K	USD	1 Quarter
Recovery of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-80.00	USD	1 Quarter
Recovery of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-464.00	USD	1 Quarter
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$2.29M	USD	1 Quarter
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$-1.94M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-64.75K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-57.61K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$1.31M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.41M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-299.03K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-837.93K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-11.80K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	-	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$573.74K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$239.43K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$372.60K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-239.43K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-372.60K	USD	1 Quarter
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$183.72K	USD	1 Quarter
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$12.86K	USD	1 Quarter
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$251.08K	USD	1 Quarter
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.95K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.81K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-434.81K	USD	1 Quarter
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$176.33K	USD	1 Quarter
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.79M	USD	1 Quarter
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.92M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Interest paid	`InterestPaid`	$37.08K	USD	1 Quarter
Interest paid	`InterestPaid`	$18.06K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$97.48K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.