News Announcements

Inuvo, Inc.

Inuvo Reports First Half and Second Quarter 2016 Results.
8/4/2016

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LITTLE ROCK, AR--(Marketwired - Aug 4, 2016) - Inuvo, Inc. ( NYSE MKT : INUV ), an advertising technology and digital publishing company, today announced financial results for the six months and three months ended June 30, 2016.

First Half and Second Quarter 2016 Financial Highlights
•2016 first half revenue totaled $34.4 million, an increase of 14% year-over-year.
•Adjusted EBITDA for the first half of 2016 was $1.6 million.
•2016 second quarter revenue totaled $15.6 million, a 6.5% decrease year-over-year.
•Adjusted EBITDA for the second quarter of 2016 was $282 thousand.
•GAAP net loss for the second quarter of 2016 was $575 thousand or $0.02 net loss per share.
•Cash balance at June 30, 2016 was $4.0 million.
•There was no bank debt at June 30, 2016.

"The second quarter was unusually soft, the result of changes in advertiser demand which now appear to be remedied." stated Rich Howe, Chairman and CEO of Inuvo. "On an Adjusted EBITDA basis, we delivered $282 thousand and the current revenue trend suggests the second half of the year should improve sequentially. "

The Inuvo business is managed along two segments, the Partner Network and the Owned and Operated Network. The Partner Network facilitates transactions between advertisers and our partners' websites and applications. The Owned and Operated Network designs, builds and markets mobile-ready consumer websites and applications mainly under the ALOT brand. Both segments utilize the company's ad delivery software as a service (SaaS) technologies.

Financial results for the three-month period ended June 30, 2016
Net revenues for the three months ended June 30, 2016, were $15.6 million compared to $16.7 million for the three months ended June 30, 2015. Revenue in our Partner Network was $4.7 million in the second quarter of 2016 compared to $9.3 million in the same quarter last year. The reason for the lower revenue in the Partner Network is due to lower demand from advertisers, in part the result of uncertainty surrounding the sale of an advertising partner, the result of which was fewer transactions and a reduction in the revenue received for ads we delivered. Revenue in our Owned and Operated Network was $10.9 million in the second quarter of 2016 compared to $7.4 million in the same quarter last year. The increased revenue in the Owned & Operated Network is from additional advertisements served to a growing user base of our owned and operated web properties. The increase in advertisements served and users was due in part to increased marketing of our owned and operated web properties and expanded verticals and content. Operating expenses increased from $9.1 million in the second quarter of 2015 to $12.3 million in the same quarter this year, due primarily to higher marketing expenses commensurate with growth within the Owned and Operated Network.

For the quarter ended June 30, 2016, GAAP net loss was $575 thousand or $0.02 net loss per share compared to $445 thousand net income, or $0.02 net income per diluted share, for the quarter ended June 30, 2015.

Balance Sheet as of June 30, 2016
At June 30, 2016, cash and cash equivalents totaled $4.0 million and there was no bank debt.

Conference Call Information
Date: Thursday, August 4, 2016
Time: 4:30 p.m. ET
Domestic Dial-in number: 1-877-723-9520
International Dial-in number: 1-719-325-4762
Live webcast: http://public.viavid.com/index.php?id=120590

In addition, the call will be webcast on the Investor Relations section of the Company's website at http://investor.inuvo.com/events_and_presentations where it will also be archived for 45 days. A telephone replay will be available through August 18, 2016. To access the replay, please dial 1-877-870-5176 (domestic) or 1-858-384-5517 (international). At the system prompt, enter the code 7777724 followed by the # sign. You will then be prompted for your name, company and phone number. Playback will then automatically begin.

About Inuvo, Inc.
Inuvo®, Inc. ( NYSE MKT : INUV ) is an advertising technology and digital publishing business that serves hundreds of millions of income generating ads monthly across a network of websites and apps serving desktop, tablet and mobile devices. To learn more about Inuvo, please visit www.inuvo.com or download our app for Apple iPhone or for Android.

Forward-looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to our lack of profitable operating history, changes in our business, potential need for additional capital, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet, all as set forth in our Annual Report on Form 10-K for the year ended December 31, 2015 and our most recent Form 10-Q. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo and are difficult to predict. Inuvo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Reconciliation of (Loss) Income from Continuing Operations before Taxes to Adjusted EBITDA

We present Adjusted EBITDA as a supplemental measure of our performance. We defined Adjusted EBITDA as net (loss) income from continuing operations before taxes plus (i) interest expense, net, (ii) depreciation, (iii) amortization, and (iv) stock-based compensation. These further adjustments are itemized above. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in the presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

Inuvo Reports First Half and Second Quarter 2016 Results