10-Q Filing

INUVO, INC. CIK: 829323 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0000829323-16-000114`
Period End Date	20160930
Filing Date	20161026
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	inuv-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 76 Cash Flow Statement 62

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.20K	USD	Point-in-time
Cash	`Cash`	$4.26M	USD	Point-in-time
Cash	`Cash`	$3.64M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $23,000 and $17,200, respectively	`AccountsReceivableNetCurrent`	$6.32M	USD	Point-in-time
Preferred stock par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $23,000 and $17,200, respectively	`AccountsReceivableNetCurrent`	$7.00M	USD	Point-in-time
Preferred stock par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Unbilled revenue	`UnbilledContractsReceivable`	$11.00K	USD	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$16.15K	USD	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`	$383.75K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.35M	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
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.75M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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`	25.21M	shares	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	24.75M	shares	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$8.57M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.38M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.84M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$9.32M	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
Other assets	`OtherAssetsNoncurrent`	$29.23K	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$15.31M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$14.36M	USD	Point-in-time
Total assets	`Assets`	$26.47M	USD	Point-in-time
Total assets	`Assets`	$28.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.08M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.17M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.68M	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`	$722.72K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$330.01K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.52M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.13M	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 25,212,884 and 24,752,408, respectively; outstanding shares 24,836,357 and 24,375,881, respectively	`CommonStockValue`	$25.21K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000; issued shares 25,212,884 and 24,752,408, respectively; outstanding shares 24,836,357 and 24,375,881, respectively	`CommonStockValue`	$24.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$130.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.75M	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`	$11.66M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.73M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$49.40M	USD	3 Qtrs
Net revenue	`SalesRevenueNet`	$17.49M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$51.86M	USD	3 Qtrs
Net revenue	`SalesRevenueNet`	$19.25M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$5.14M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$13.39M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$19.04M	USD	3 Qtrs
Cost of revenue	`CostOfRevenue`	$5.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$30.36M	USD	3 Qtrs
Gross profit	`GrossProfit`	$38.47M	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.38M	USD	1 Quarter
Marketing costs	`SearchCosts`	$10.15M	USD	1 Quarter
Marketing costs	`SearchCosts`	$30.40M	USD	3 Qtrs
Marketing costs	`SearchCosts`	$9.92M	USD	1 Quarter
Marketing costs	`SearchCosts`	$21.66M	USD	3 Qtrs
Compensation	`SalariesAndWages`	$1.65M	USD	1 Quarter
Compensation	`SalariesAndWages`	$1.54M	USD	1 Quarter
Compensation	`SalariesAndWages`	$4.07M	USD	3 Qtrs
Compensation	`SalariesAndWages`	$4.97M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.05M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.21M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.76M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$39.13M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$12.74M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.95M	USD	3 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$1.42M	USD	3 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$-452.20K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-656.04K	USD	3 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$635.10K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$23.10K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$71.78K	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$111.67K	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$25.73K	USD	1 Quarter
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.31M	USD	3 Qtrs
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-727.82K	USD	3 Qtrs
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$612.00K	USD	1 Quarter
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-477.93K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.33K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-92.00K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-379.08K	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-43.01K	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$619.33K	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-434.92K	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$1.69M	USD	3 Qtrs
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-635.82K	USD	3 Qtrs
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$171.84K	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$32.06K	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$172.20K	USD	3 Qtrs
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$37.63K	USD	3 Qtrs
Net (loss) income	`ProfitLoss`	$-263.07K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$651.39K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-463.63K	USD	3 Qtrs
Net (loss) income	`ProfitLoss`	$1.72M	USD	3 Qtrs
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.03	USD	3 Qtrs
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.03	USD	1 Quarter
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.07	USD	3 Qtrs
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	3 Qtrs
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	1 Quarter
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	3 Qtrs
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$0.07	USD	3 Qtrs
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.69M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.27M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.57M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.21M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.57M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.79M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.69M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.55M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-263.07K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$651.39K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-463.63K	USD	3 Qtrs
Net (loss) income	`ProfitLoss`	$1.72M	USD	3 Qtrs
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	$406.45K	USD	3 Qtrs
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	-	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.31M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.66M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$315.60K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.00M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$251.14K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$385.82K	USD	3 Qtrs
Amortization of financing fees	`AmortizationOfFinancingCosts`	$19.20K	USD	3 Qtrs
Amortization of financing fees	`AmortizationOfFinancingCosts`	$13.40K	USD	3 Qtrs
Recovery (Provision) of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$5.80K	USD	3 Qtrs
Recovery (Provision) of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-13.04K	USD	3 Qtrs
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$176.99K	USD	3 Qtrs
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$56.61K	USD	3 Qtrs
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$-685.44K	USD	3 Qtrs
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$1.06M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-138.33K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-1.28K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$3.24M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.03M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$63.27K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-349.87K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.20M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$488.58K	USD	3 Qtrs
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$1.05M	USD	3 Qtrs
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$929.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-929.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.05M	USD	3 Qtrs
Net proceeds (payments) on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.79M	USD	3 Qtrs
Net proceeds (payments) on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$251.08K	USD	3 Qtrs
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$140.74K	USD	3 Qtrs
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$37.55K	USD	3 Qtrs
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$1.90M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.94M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-178.29K	USD	3 Qtrs
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-619.09K	USD	3 Qtrs
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$207.41K	USD	3 Qtrs
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.64M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.64M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Interest paid	`InterestPaid`	$102.97K	USD	3 Qtrs
Interest paid	`InterestPaid`	$55.09K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$26.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$97.48K	USD	3 Qtrs
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	$103.61K	USD	3 Qtrs
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	3 Qtrs
Purchase of intangible assets through a contingent liability	`RetirementOfSharesOfTreasuryStock`	-	USD	3 Qtrs
Purchase of intangible assets through a contingent liability	`RetirementOfSharesOfTreasuryStock`	$715.87K	USD	3 Qtrs
Stock issuance for partial settlement of contingent liability	`StockIssued1`	$300.00K	USD	3 Qtrs
Stock issuance for partial settlement of contingent liability	`StockIssued1`	-	USD	3 Qtrs
Write-down of domain names due to partial settlement of contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	$46.37K	USD	3 Qtrs
Write-down of domain names due to partial settlement of contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	-	USD	3 Qtrs

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