{"url_path":"/sec/inuv/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/829323/0001654954-26-004909-index.html","accession_number":"0001654954-26-004909","cik":"0000829323","ticker":"INUV","issuer_name":"Inuvo, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/829323/0001654954-26-004909-index.html","primary_entity_key":"0000829323","primary_entity_name":"Inuvo, 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STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n**FORM 10-Q**\n\n \n\n(Mark One)\n\n \n\n☒     **QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n \n\n☐      **TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\nFor the transition period from ______________________ to ______________________\n\n \n\nCommission file number: **001-32442**\n\n** **\n\n \n\n**Inuvo, Inc.**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Nevada**\n\n \n\n**87-0450450**\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\n Identification No.)\n\n \n\n \n\n \n\n**500 President Clinton Ave., Suite 300 Little Rock, AR**\n\n \n\n**72201**\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n \n\n**(501) 205-8508** \n\nRegistrant’s telephone number, including area code\n\n \n\n**not applicable** \n\n(Former name, former address and former fiscal year, if changed since last report)\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\nTrading Symbol(s)\n\nName of each exchange on which registered\n\nCommon stock\n\nINUV\n\nNYSE American\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for at least the past 90 days.     Yes ☒     No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒     No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\nEmerging growth company\n\n☐\n\n \n\n \n\n \n\nIf an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act:  ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  ☐     No  ☒\n\n \n\nIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.\n\n \n\n**Title of Class**\n\n \n\n**May 6, 2026**\n\nCommon Stock\n\n \n\n14,820,898\n\n \n\n \n\n \n\n**TABLE OF CONTENTS**\n\n** **\n\n \n\n \n\n \n\n**Page No.**\n\n \n\n**Part I**\n\n \n\n \n\n \n\n[Item 1.](#I1)\n\n[Financial Statements.](#I1)\n\n \n\n4\n\n \n\n \n\n[Condensed Consolidated Balance Sheets](#BS)\n\n \n\n4\n\n \n\n \n\n[Condensed Consolidated Statements of Operations](#STO)\n\n \n\n5\n\n \n\n \n\n[Condensed Consolidated Statements of Stockholders’ Equity](#EQT)\n\n \n\n6\n\n \n\n \n\n[Condensed Consolidated Statements of Cash Flows](#CF)\n\n \n\n7\n\n \n\n \n\n[Notes to Condensed Consolidated Financial Statements](#NOTES)\n\n \n\n8\n\n \n\n[Item 2.](#I2)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations.](#I2)\n\n \n\n18\n\n \n\n[Item 3.](#I3)\n\n[Quantitative and Qualitative Disclosures About Market Risk.](#I3)\n\n \n\n22\n\n \n\n[Item 4.](#I4)\n\n[Controls and Procedures.](#I4)\n\n \n\n22\n\n \n\n \n\n \n\n**Part II**\n\n \n\n \n\n \n\n[Item 1.](#I1N)\n\n[Legal Proceedings.](#I1N)\n\n \n\n24\n\n \n\n[Item 1A.](#I1A)\n\n[Risk Factors.](#I1A)\n\n \n\n24\n\n \n\n[Item 2.](#I2N)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds.](#I2N)\n\n \n\n24\n\n \n\n[Item 3.](#I3N)\n\n[Defaults upon Senior Securities.](#I3N)\n\n \n\n24\n\n \n\n[Item 4.](#I4N)\n\n[Mine Safety and Disclosures.](#I4N)\n\n \n\n24\n\n \n\n[Item 5.](#I5)\n\n[Other Information.](#I5)\n\n \n\n24\n\n \n\n[Item 6.](#I6)\n\n[Exhibits.](#I6)\n\n \n\n25\n\n \n\n[Signatures](#SIG)\n\n \n\n26\n\n \n\n \n\n2\n\n*Table of Contents*\n\n \n\n**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION**\n\n \n\nThis report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of such terms or other comparable terminology. This report includes, among others, statements regarding our risks associated with:\n\n \n\n \n\n·\na decline in general economic conditions;\n\n \n\n·\ndecreased market demand for our products and services;\n\n \n\n·\ncustomer revenue concentration;\n\n \n\n·\nrisks associated with customer collections;\n\n \n\n·\nseasonality impacts on financial results and cash availability;\n\n \n\n·\ndependence on advertising suppliers;\n\n \n\n·\nthe ability to acquire traffic in a profitable manner;\n\n \n\n·\nfailure to keep pace with technological changes;\n\n \n\n·\ninterruptions within our information technology infrastructure;\n\n \n\n·\ndependence on key personnel;\n\n \n\n·\nregulatory and legal uncertainties;\n\n \n\n·\nfailure to comply with privacy and data security laws and regulations;\n\n \n\n·\nthird party infringement claims;\n\n \n\n·\npublishers who could fabricate fraudulent clicks;\n\n \n\n·\nthe ability to continue to meet the NYSE American listing standards;\n\n \n\n·\nthe impact of quarterly results on our common stock price;\n\n \n\n·\ndilution to our stockholders upon the vesting of outstanding restricted stock unit grants and warrants; and\n\n \n\n·\nour ability to identify, finance, complete and successfully integrate future acquisitions.\n\nThese forward-looking statements were based on various factors and were derived utilizing numerous assumptions and other factors that could cause our actual results to differ materially from those in the forward-looking statements. Most of these factors are difficult to predict accurately and are generally beyond our control. You should consider the areas of risk described in connection with any forward-looking statements that may be made herein. Readers are cautioned not to place undue reliance on these forward-looking statements and readers should carefully review this report in its entirety, including the risks described in Part II, Item 1A. Risk Factors appearing in this report, together with those appearing in Item 1A. Risk Factors, in our Annual Report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) on March 5, 2026 and our subsequent filings with the SEC.\n\n \n\nExcept for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events. These forward-looking statements speak only as of the date of this report, and you should not rely on these statements without also considering the risks and uncertainties associated with these statements and our business.\n\n \n\n**OTHER PERTINENT INFORMATION**\n\n \n\nUnless specifically set forth to the contrary, when used in this report the terms “Inuvo,” the “Company,” “we,” “us,” “our” and similar terms refer to Inuvo, Inc., a Nevada corporation, and its subsidiaries. When used in this report, “first quarter 2026” means for the three months ended March 31, 2026, “first quarter 2025” means for the three months ended March 31, 2025,  “2025” means the fiscal year ended December 31, 2025 and “2026” means the fiscal year ending December 31, 2026. The information which appears on our corporate web site at www.inuvo.com and our various social media platforms are not part of this report.\n\n \n\n \n\n3\n\n*Table of Contents*\n\n \n\n**PART I - FINANCIAL INFORMATION**"}