Inuvo (INUV) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 11, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-32442
Entity Registrant Name	Inuvo, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0450450
Entity Address, Address Line One	500 President Clinton Ave.,
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72201
City Area Code	501
Local Phone Number	205-8508
Title of 12(b) Security	Common stock
Trading Symbol	INUV
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		120,134,884
Entity Central Index Key	0000829323
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 5,780,882	$ 10,475,964
Marketable securities - short term	1,871,051	1,927,979
Accounts receivable, net of allowance for doubtful accounts of $462,480 and $202,904, respectively.	9,557,103	9,265,813
Prepaid expenses and other current assets	1,092,683	1,408,186
Total current assets	18,301,719	23,077,942
Property and equipment, net	1,693,407	1,506,766
Other assets
Goodwill	9,853,342	9,853,342
Intangible assets, net of accumulated amortization	5,895,416	6,720,585
Referral and support services agreement advance	875,000	1,100,000
Marketable securities - long term	619,546	859,512
Right of use assets - operating lease	397,850	641,306
Right of use assets - finance lease	128,589	201,902
Other assets	35,170	35,719
Total other assets	17,804,913	19,412,366
Total assets	37,800,039	43,997,074
Current liabilities
Accounts payable	5,651,540	4,844,716
Accrued expenses and other current liabilities	6,281,538	5,374,391
Lease liability - operating lease	342,488	340,478
Lease liability - finance lease	92,887	102,954
Total current liabilities	12,368,453	10,662,539
Long-term liabilities
Deferred tax liability	107,000	107,000
Lease liability - operating lease	56,602	300,827
Lease liability - finance lease	39,630	105,411
Other long-term liabilities	13,773	13,302
Total long-term liabilities	217,005	526,540
Preferred stock, $0.001 par value:
Authorized shares 500,000, none issued and outstanding	0	0
Common stock, $0.001 par value:
Authorized shares 200,000,000; issued and outstanding shares 120,137,124 and 118,747,447, respectively.	120,138	118,748
Additional paid-in capital	178,307,716	176,586,529
Accumulated other comprehensive (loss) income	(132,502)	53,737
Accumulated deficit	(153,080,771)	(143,951,019)
Total stockholders' equity	25,214,581	32,807,995
Total liabilities and stockholders' equity	$ 37,800,039	$ 43,997,074

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 462,480	$ 202,904
Preferred stock, par or stated value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par or stated value per share (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	200,000,000	200,000,000
Common stock shares issued (in shares)	120,137,124	118,747,447
Common stock shares outstanding (in shares)	120,137,124	118,747,447

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net revenue	$ 17,072,189	$ 16,841,035	$ 58,332,859	$ 40,094,427
Cost of revenue	6,782,047	3,757,938	24,717,143	7,466,017
Gross profit	10,290,142	13,083,097	33,615,716	32,628,410
Operating expenses
Marketing costs	8,620,161	10,163,006	26,778,020	25,681,930
Compensation	3,237,414	2,840,149	9,611,011	8,458,233
General and administrative	2,206,119	1,824,869	5,944,027	5,226,737
Total operating expenses	14,063,694	14,828,024	42,333,058	39,366,900
Operating loss	(3,773,552)	(1,744,927)	(8,717,342)	(6,738,490)
Financing expense, net	(13,149)	(6,261)	(11,078)	(36,641)
Other income (expense), net	(23,861)	(79,080)	(401,336)	415,468
Net loss	(3,810,562)	(1,830,268)	(9,129,756)	(6,359,663)
Other comprehensive income
Unrealized gain (loss) on marketable securities	36,170	0	(186,239)	0
Comprehensive loss	$ (3,774,392)	$ (1,830,268)	$ (9,315,995)	$ (6,359,663)
Per common share data: Basic and Diluted
Net loss, diluted (in usd per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.05)
Net loss, basic (in usd per share)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.05)
Weighted average shares
Basic (in shares)	119,995,367	116,645,509	118,838,258	117,230,419
Diluted (in shares)	119,995,367	116,645,509	118,838,258	117,230,419

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net loss	$ (9,129,756)	$ (6,359,663)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,949,845	2,343,874
Depreciation-Right of Use Assets - Financing	73,313	237,423
Stock based compensation	1,890,991	1,566,016
Stock warrant expense	28,477	0
Loss (gain) on marketable securities	401,336	(54,532)
Amortization of financing fees	2,500	8,750
Provision (recovery) of doubtful accounts	259,576	(47,763)
Derecognition of contingency and grant	(10,000)	(110,000)
Third party rights agreement termination	0	(420,000)
Change in operating assets and liabilities:
Accounts receivable	(550,866)	(2,645,508)
Prepaid expenses, unbilled revenue and other current assets	316,053	(77,503)
Referral and support services agreement advance	225,000	(1,500,000)
Accrued expenses and other liabilities	916,363	1,754,574
Accounts payable	806,824	632,369
Net cash used in operating activities	(2,820,344)	(4,671,963)
Investing activities:
Purchases of equipment and capitalized development costs	(1,311,315)	(1,180,107)
Purchase of marketable securities	(1,693,963)	(2,973,453)
Proceeds from the sale of marketable securities	1,403,282	102,200
Net cash used in investing activities	(1,601,996)	(4,051,360)
Financing activities:
Proceeds from sale of common stock, net	0	13,137,500
Proceeds from ValidClick licensing agreement	0	(149,900)
Payments on finance lease obligations	(75,848)	(181,998)
Proceeds from exercise of options	0	1,569
Net taxes paid on restricted stock unit grants exercised	(196,894)	(272,049)
Net cash (used in)/provided by financing activities	(272,742)	12,535,122
Net change – cash	(4,695,082)	3,811,799
Cash and cash equivalent, beginning of year	10,475,964	7,890,665
Cash and cash equivalent, end of period	5,780,882	11,702,464
Supplemental information:
Interest paid	15,128	42,474
Non cash investing and financing activities:
Assets purchased under finance lease obligations	$ 0	125,825
Assets purchased under operating lease obligations		$ 344,311

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2020		98,035,829
Beginning balance at Dec. 31, 2020	$ 25,289,114	$ 98,036	$ 161,541,448	$ (136,350,370)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,147,268)			(2,147,268)
Stock-based compensation	394,870		394,870
Stock issued for vested restricted stock awards (in shares)		1,467,465
Stock issued for vested restricted stock awards	0	$ 1,467	(1,467)
Shares withheld for taxes on vested restricted stock	(161,244)		(161,244)
Proceeds from exercise of options	1,569		1,569
Sale of common stock, net (in shares)		19,015,151
Sale of common stock, net	13,137,500	$ 19,016	13,118,484
Ending balance (in shares) at Mar. 31, 2021		118,518,445
Ending balance at Mar. 31, 2021	36,514,541	$ 118,519	174,893,660	(138,497,638)
Beginning balance (in shares) at Dec. 31, 2020		98,035,829
Beginning balance at Dec. 31, 2020	25,289,114	$ 98,036	161,541,448	(136,350,370)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,359,663)
Unrealized gain (loss) on debt securities	0
Ending balance (in shares) at Sep. 30, 2021		118,747,447
Ending balance at Sep. 30, 2021	33,369,062	$ 118,748	175,960,347	(142,710,033)
Beginning balance (in shares) at Mar. 31, 2021		118,518,445
Beginning balance at Mar. 31, 2021	36,514,541	$ 118,519	174,893,660	(138,497,638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,382,127)			(2,382,127)
Stock-based compensation	557,602		557,602
Ending balance (in shares) at Jun. 30, 2021		118,518,445
Ending balance at Jun. 30, 2021	34,690,016	$ 118,519	175,451,262	(140,879,765)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,830,268)			(1,830,268)
Unrealized gain (loss) on debt securities	0
Stock-based compensation	613,544		613,544
Stock issued for vested restricted stock awards (in shares)		229,002
Stock issued for vested restricted stock awards	0	$ 229	(229)
Shares withheld for taxes on vested restricted stock	(110,805)		(110,805)
Stock warrants issued for referral agreement	6,575		6,575
Ending balance (in shares) at Sep. 30, 2021		118,747,447
Ending balance at Sep. 30, 2021	33,369,062	$ 118,748	175,960,347	(142,710,033)
Beginning balance (in shares) at Dec. 31, 2021		118,747,447
Beginning balance at Dec. 31, 2021	32,807,995	$ 118,748	176,586,529	(143,951,019)	$ 53,737
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,089,263)			(2,089,263)
Unrealized gain (loss) on debt securities	(98,156)				(98,156)
Stock-based compensation	671,158		671,158
Stock issued for vested restricted stock awards (in shares)		1,059,755
Stock issued for vested restricted stock awards	0	$ 1,060	(1,060)
Shares withheld for taxes on vested restricted stock	(128,520)		(128,520)
Stock warrants issued for referral agreement	12,483		12,483
Ending balance (in shares) at Mar. 31, 2022		119,807,202
Ending balance at Mar. 31, 2022	31,175,697	$ 119,808	177,140,590	(146,040,282)	(44,419)
Beginning balance (in shares) at Dec. 31, 2021		118,747,447
Beginning balance at Dec. 31, 2021	32,807,995	$ 118,748	176,586,529	(143,951,019)	53,737
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(9,129,756)
Unrealized gain (loss) on debt securities	(186,239)
Ending balance (in shares) at Sep. 30, 2022		120,137,124
Ending balance at Sep. 30, 2022	25,214,581	$ 120,138	178,307,716	(153,080,771)	(132,502)
Beginning balance (in shares) at Mar. 31, 2022		119,807,202
Beginning balance at Mar. 31, 2022	31,175,697	$ 119,808	177,140,590	(146,040,282)	(44,419)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,229,927)			(3,229,927)
Unrealized gain (loss) on debt securities	(124,253)				(124,253)
Stock-based compensation	684,376		684,376
Stock issued for vested restricted stock awards (in shares)		66,666
Stock issued for vested restricted stock awards	0	$ 66	(66)
Stock warrants issued for referral agreement	462		462
Ending balance (in shares) at Jun. 30, 2022		119,873,868
Ending balance at Jun. 30, 2022	28,506,355	$ 119,874	177,825,362	(149,270,209)	(168,672)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,810,562)			(3,810,562)
Unrealized gain (loss) on debt securities	36,170				36,170
Stock-based compensation	535,458		535,458
Stock issued for vested restricted stock awards (in shares)		263,256
Stock issued for vested restricted stock awards	0	$ 264	(264)
Shares withheld for taxes on vested restricted stock	(68,372)		(68,372)
Stock warrants issued for referral agreement	15,532		15,532
Ending balance (in shares) at Sep. 30, 2022		120,137,124
Ending balance at Sep. 30, 2022	$ 25,214,581	$ 120,138	$ 178,307,716	$ (153,080,771)	$ (132,502)

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Company Overview Inuvo is a technology company that develops and sells information technology solutions for marketing and advertising. These solutions predictively identify and message online audiences for any product, service or brand across devices, formats, and channels including video, mobile, connected TV, linear TV, display, social, search and native. These solutions allow Inuvo’s clients to engage with their audiences in a manner that drives responsiveness. Inuvo facilitates the delivery of hundreds of millions of marketing messages to consumers every single month and counts among its clients numerous world-renowned names across industries. The Inuvo solution incorporates a proprietary form of artificial intelligence, or AI, branded the IntentKey. This patented machine learning technology uses interactions with Internet content as a source of information from which to predict consumer intent. The AI can identify and advertise to the reasons why consumers are purchasing products and services not to who those consumers are. In this regard, the technology is designed for a privacy conscious future and is focused on the components of the advertising value chain most responsible for return on advertising spend, the intelligence behind the advertising decision. Inuvo technology can be consumed both as a managed service and software-as-a-service. For clients, Inuvo has also developed a collection of proprietary websites collectively branded as Bonfire Publishing where content is created specifically to attract qualified consumer traffic for clients through the publication of information across a wide range of topics including health, finance, travel, careers, auto, education and lifestyle. These sites also provide the means to market test various Inuvo advertising technologies. Further, Inuvo also provides Search and Social advertising services through a proprietary set of technologies branded as ValidClick. There are many barriers to entry associated with the Inuvo business model, including a proficiency in large scale information processing, predictive software development, marketing data products, analytics, artificial intelligence, integration to the internet of things ("IOT"), and the relationships required to execute within the IOT. Inuvo’s intellectual property is protected by 17 issued and eight pending patents. Liquidity As of September 30, 2022, we have approximately $7.7 million in cash, cash equivalents and short-term marketable securities. Our net working capital was $5.9 million. We have encountered recurring losses and cash outflows from operations, which historically we have funded through equity offerings and debt facilities. In addition, our investment in internally developed software consists primarily of labor costs which are of a fixed nature. Through September 30, 2022, our accumulated deficit was $153.1 million. Our principal sources of liquidity are the sale of our common stock and our credit facility with Hitachi described in Note 6 to our Consolidated Financial Statements. On January 19, 2021, we raised $8.0 million in gross proceeds in a registered direct offering, before expenses, through the sale of an aggregate of 13,333,334 shares of our common stock, and on January 22, 2021, we raised an additional $6.25 million in gross proceeds in a registered direct offering, before expenses, through the sale of an aggregate of 5,681,817 shares of our common stock. In March 2021, we contracted with an investment management company to manage our cash in excess of current operating needs. We placed $2 million in cash equivalent accounts and $10 million in an interest-bearing account. At September 30, 2022, our funds with the investment management company were approximately $4.2 million and were invested in cash equivalent accounts and marketable debt and equity securities. A detail of the activity is described in Note 3 to our Consolidated Financial Statements. On May 28, 2021, we entered into a Sales Agreement (the “Sales Agreement”) with A.G.P./Alliance Global Partners, as sales agent (the “Sales Agent”), pursuant to which we may offer and sell through or to the Sales Agent shares of our common stock (the “ATM Program”) up to an aggregate amount of gross proceeds of $35,000,000. During the year ended December 31, 2021 and through September 30, 2022, we did not issue any shares of common stock or receive any aggregate proceeds under the ATM Program, and we did not pay any commissions to the Sales Agent. Any shares of common stock offered and sold in the ATM Program will be issued pursuant to our universal shelf registration statement on Form S-3 (the “Shelf Registration Statement”). The ATM Program will terminate upon (a) the election of the Sales Agent upon the occurrence of certain adverse events, (b) 10 days’ advance notice from one party to the other, or (c) the sale of the balance available under our Shelf Registration Statement. Under the terms of the Sales Agreement, the Sales Agent is entitled to a commission at a fixed rate of 3.0% of the gross proceeds from each sale of shares under the Sales Agreement. We have focused our resources behind a plan to market our collective multi-channel advertising capabilities differentiated by our AI technology, the IntentKey, where we have a technology advantage and higher margins. If we are successful in implementing our plan, we expect to return to a positive cash flow from operations. However, there is no assurance that we will be able to achieve this objective. We believe our current cash position and credit facility will be sufficient to sustain operations for the next twelve months from the filing date. We may need to fund operations over the longer term through private or public sales of securities, debt financings or partnering/licensing transactions. There can be no assurances that financing will be available on acceptable terms, if at all, in the future. Customer concentration For the three-month period ending September 30, 2022, our three largest customers by revenue accounted for 74.0% of our overall revenue at 33.1%, 30.0% and 10.9%, respectively and for the nine-month period ending September 30, 2022, 61.6% of our overall revenue at 26.1%, 26.4% and 9.1%, respectively. Those same three customers accounted for 70.3% of our gross accounts receivable balance as of September 30, 2022. As of December 31, 2021, the same customers accounted for 34.3% of our gross accounts receivable balance. COVID-19

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation The consolidated financial statements presented are for Inuvo and its subsidiaries. The accompanying unaudited consolidated financial statements have been prepared based upon SEC rules that permit reduced disclosure for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2021, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP"). In our opinion, these consolidated financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 17, 2022. Use of estimates The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. We regularly evaluate estimates and assumptions related to capitalized labor, goodwill and purchased intangible asset valuations and income tax valuation allowance. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material. Revenue Recognition Both of our platforms generate revenue from ad placements and clicks on advertisements on websites, some of which we own. We recognize revenue from ad placements and clicks in the period in which they occur. We also recognize revenue from serving impressions when we complete all or a part of an order from an advertiser. The revenue is recognized in the period that the impression is served. We subsequently settle these transactions with our business partners at which time adjustments for invalid traffic may impact the amount collected. Payments to publishers who display advertisements on our behalf and payments to ad exchanges are recognized as cost of revenue. The below table is the proportion of revenue that is generated through advertisements on our ValidClick (Search and Social) and IntentKey (Programmatic) platforms: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 ValidClick Platform $ 11,376,654 66.6 % $ 11,742,855 69.7 % $ 35,895,754 61.5 % $ 29,955,169 74.7 % IntentKey Platform 5,695,535 33.4 % 5,098,180 30.3 % 22,437,105 38.5 % $ 10,139,258 25.3 % Total $ 17,072,189 100.0 % $ 16,841,035 100.0 % $ 58,332,859 100.0 % $ 40,094,427 100.0 % Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. On November 15, 2019, the FASB delayed the effective date for certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities. We are currently evaluating the potential impact of this new standard to our consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value based on the short-term nature of these items. In accordance with accounting principles generally accepted in the United States, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy prioritizes the inputs used to measure fair value as follows: Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following table summarizes our cash equivalents and marketable securities measured at fair value. Certain marketable securities consist of investments in debt and equity securities. We classify our cash equivalents and marketable securities within Level 1 because we use observable inputs that reflect quoted market prices for identical assets in active markets to determine their fair value. We have classified debt securities as available for sale securities with unrealized gains and losses recorded as other comprehensive income. We have classified equity securities as trading and are marked to market with changes recorded as other income on the income statement. Any interest income or dividends are recorded within financing expense, net on the income statement. Investment Assets at Fair Value Investment Assets at Fair Value As of September 30, 2022 As of December 31, 2021 Level 1 Total Level 1 Total Debt securities $ 888,928 $ 888,928 $ 959,207 $ 959,207 Equity securities $ 1,601,669 $ 1,601,669 $ 1,828,284 $ 1,828,284 Cash equivalents $ 1,756,382 $ 1,756,382 $ 5,222,759 $ 5,222,759 Total Investments at Fair Value $ 4,246,979 $ 4,246,979 $ 8,010,250 $ 8,010,250 The cost, gross unrealized gains (losses) and fair value of marketable securities by major security type were as follows: As of September 30, 2022 As of December 31, 2022 Cost Unrealized Gain (Loss) Fair Value Cost Unrealized Gain (Loss) Fair Value Marketable securities Debt securities $ 1,021,430 $ (132,502) $ 888,928 $ 905,470 $ 53,737 $ 959,207 Equity securities 2,216,621 (614,952) 1,601,669 2,100,305 (272,021) 1,828,284 Total marketable securities $ 2,490,597 $ 2,787,491

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The net carrying value of property and equipment was as follows as of: September 30, 2022 December 31, 2021 Furniture and fixtures $ 293,152 $ 293,152 Equipment 1,263,308 1,164,671 Capitalized internal use and purchased software 14,125,059 12,914,820 Leasehold improvements 461,325 458,885 Subtotal 16,142,844 14,831,528 Less: accumulated depreciation and amortization (14,449,437) (13,324,762) Total $ 1,693,407 $ 1,506,766 During the three months ended September 30, 2022 and September 30, 2021, depreciation expense was $394,942 and $325,112, respectively. During the nine months ended September 30, 2022 and September 30, 2021, depreciation expense was $1,124,674 and $944,746, respectively.

Other Intangible Assets and Goo

Other Intangible Assets and Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets and Goodwill	Other Intangible Assets and Goodwill The following is a schedule of intangible assets and goodwill as of September 30, 2022: Term Carrying Accumulated Amortization and Impairment Net Carrying Value Year-to-date Amortization Customer list, Google 20 years $ 8,820,000 $ (4,667,250) $ 4,152,750 $ 330,750 Technology 5 years 3,600,000 (3,600,000) — 60,000 Customer list, ReTargeter 5 years 1,931,250 (1,223,126) 708,124 289,688 Customer list, all other 10 years 1,610,000 (1,610,000) — 26,794 Brand name, ReTargeter 5 years 643,750 (407,708) 236,042 96,562 Customer relationships 20 years 570,000 (161,500) 408,500 21,375 Trade names, web properties (1) - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (11,669,584) $ 5,895,416 $ 825,169 Goodwill, total - $ 9,853,342 $ — $ 9,853,342 $ — (1) The trade names related to our web properties have an indefinite life, and as such are not amortized. Amortization expense over the next five years and thereafter is as follows: 2022 (remainder of year) $ 246,125 2023 984,500 2024 769,917 2025 469,500 2026 469,500 Thereafter 2,565,876 Total $ 5,505,418

Bank Debt

Bank Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Bank Debt	Bank DebtOn March 12, 2020, we closed on the Loan and Security Agreement dated February 28, 2020 with Hitachi. Under the terms of the Loan and Security Agreement, Hitachi has provided us with a $5,000,000 line of credit commitment. We are permitted to borrow (i) 90% of the aggregate Eligible Accounts Receivable, plus (ii) the lesser of (A) 75% of the aggregate Unbilled Accounts Receivable or (B) 50% of the amount available to borrow under (i), up to the maximum credit commitment. We pay Hitachi a monthly interest at the rate of 2% in excess of the Wall Street Journal Prime Rate, with a minimum rate of 6.75% per annum, on outstanding amounts. The principal and all accrued but unpaid interest are due on demand. We agreed to pay Hitachi a commitment fee of $50,000, with one half due upon the execution of the agreement and the balance due six months thereafter. Thereafter, we are obligated to pay Hitachi a commitment fee of $15,000 annually. We are also obligated to pay Hitachi a quarterly service fee of 0.30% on the monthly unused amount of the maximum credit line. The Loan and Security Agreement continues for an indefinite term. At September 30, 2022, there were no outstanding balances due under the Loan and Security Agreement.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities The accrued expenses and other current liabilities consist of the following as of: September 30, 2022 December 31, 2021 Accrued marketing costs $ 4,404,234 $ 4,267,980 Accrued expenses and other 1,006,427 956,998 Accrued payroll and commission liabilities 864,239 121,533 Arkansas grant contingency 5,000 10,000 Accrued taxes, current portion 1,638 17,880 Total $ 6,281,538 $ 5,374,391

Commitments

Commitments	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments    On September 17, 2021, we signed a multi-year agreement with a business development partner to provide referral and support services to us. The agreement required an advance fee of $1.5 million with $300,000 recorded as a current asset and $1.2 million as other assets. The advance is being amortized as marketing expenses over five years. As of September 30, 2022, $325,000 has been amortized. As part of the agreement, we granted a warrant exercisable into 300,000 shares of our common stock, which vests over two years upon achieving certain performance metrics (see Note 11 - Stockholders' Equity). Additionally, we agreed to pay quarterly support fees upon reaching certain levels of operational activity.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesWe have deferred tax assets of $35,576,360. We believe it is more likely than not that essentially none of our deferred tax assets will be realized, and we have recorded a valuation allowance of $33,988,760 for the deferred tax assets that may not be realized as of September 30, 2022 and December 31, 2021. We also have deferred tax liabilities totaling $1,694,600 as of September 30, 2022, related to intangible assets acquired in March 2012 and February 2017. These balances are presented as a net deferred tax liability of $107,000 composed of indefinite lived intangible assets.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We maintain a stock-based compensation program intended to attract, retain and provide incentives for talented employees and directors and align stockholder and employee interests. During the 2022 and 2021 periods, we granted restricted stock units ("RSUs") from the 2017 Equity Compensation Plan, as amended (“2017 ECP”). RSU vesting periods are generally up to three years and/or based upon achieving certain financial targets. On January 1, 2022, in accordance with the plan provisions, the number of shares available for issuance under the 2017 ECP was increased by 150,000 shares. On June 16, 2022, our stockholders approved an amendment to the 2017 ECP increasing the number of shares of our common stock reserved for issuance by 15,000,000 shares. As of September 30, 2022, the total number of shares of our common stock reserved for issuance under the 2017 ECP was 24,550,000. Compensation Expense For the three and nine months ended September 30, 2022, we recorded stock-based compensation expense for all equity incentive plans of $535,457 and $1,890,991, respectively. For the three and nine months ended September 30, 2021, we recorded stock-based compensation expense for all equity incentive plans of $613,544 and $1,566,016, respectively. Total compensation cost not yet recognized at September 30, 2022 was $2,762,270, which will be recognized over a weighted-average recognition period of approximately one year. The following table summarizes the stock grants outstanding under the 2017 ECP and the 2010 Equity Compensation Plan (“2010 ECP”) for the nine months ended September 30, 2022: Options Outstanding RSUs Outstanding Options and RSUs Exercised Available Shares Total Awards Authorized 2017 ECP 100,000 4,913,339 4,560,799 14,975,862 24,550,000 2010 ECP (*) — — 5,011,511 — 5,011,511 Total 100,000 4,913,339 9,572,310 14,975,862 29,561,511 (*) Expired April 2020 The following table summarizes the activity of stock option awards for the nine months ended September 30, 2022: Shares Subject to Options Outstanding Number of Shares Weighted Average Exercise Price Outstanding, beginning of period 1,500 $ 0.56 Stock options exercised — $ — Stock options granted 100,000 $ 0.52 Stock options canceled (1,500) $ 0.56 Outstanding, end of period 100,000 0.52 Exercisable, end of period 100,000 0.52 The following table summarizes the activities for our RSUs for the nine months ended September 30, 2022: RSUs Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of period 3,960,001 $ 1.33 Granted 2,960,000 $ 0.41 Vested (1,826,661) $ 1.34 Canceled (180,001) $ 0.95 Outstanding, end of period 4,913,339 $ 0.79

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Warrants On September 17, 2021, we signed an agreement with a marketing platform and consulting company to provide referral and support services to us for a period of five years (see Note 8 - Commitments). As part of that agreement, we granted a warrant exercisable into 300,000 shares of our common stock, at $.72 per share, which vests in two tranches when certain performance metrics are achieved. The warrant was valued using the Black Scholes option pricing model at a total of $149,551 based on a seven-year term, an implied volatility of 100%, a risk-free equivalent yield of 1.17%, and a stock price of $0.71. The warrant is classified as equity and will be expensed over the vesting period of each tranche if the performance criteria are achieved. On August 31, 2022, 85,862 shares vested in accordance with the contracted performance criteria. For the nine- month period ended September 30, 2022, we recognized approximately $28 thousand in expense. Earnings per Share For the three- and nine-month periods ended September 30, 2022 and 2021, we generated a net loss from continuing operations and as a result, any potential common shares are anti-dilutive. Common Stock On January 7, 2021, we filed Articles of Amendment to our Articles of Incorporation in the State of Nevada increasing the number of authorized shares of our common stock from 100,000,000 to 150,000,000. On August 19, 2021, we filed Articles of Amendment to our Articles of Incorporation in the State of Nevada increasing the number of authorized shares of our common stock from 150,000,000 to 200,000,000.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases We have entered into operating and finance leases primarily for real estate and equipment rental. These leases have terms which range from three years to five years, and often include one or more options to renew or in the case of equipment rental, to purchase the equipment. These operating and finance leases are listed as separate line items on our consolidated balance sheets and represent our right to use the underlying asset for the lease term. Our obligation to make lease payments is also listed as separate line items on our consolidated balance sheets. As of September 30, 2022 and December 31, 2021, total operating and financed right-of-use assets were $397,850 and $128,589, and $641,306 and $201,902, respectively. As of September 30, 2022 and 2021, we recorded $73,313 and $237,423, respectively, in amortization expense related to finance leases. Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Information related to our operating lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for operating lease liabilities $ 316,597 Weighted-average remaining lease term 3.2 years Weighted-average discount rate 6.25 % Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 97,360 2023 301,029 2024 16,236 2025 5,251 2026 1,590 421,466 Less imputed interest (22,376) Total lease liabilities $ 399,090 Information related to our financed lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for finance lease liabilities $ 92,622 Weighted-average remaining lease term 1.6 years Weighted-average discount rate 6.25 % Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 25,276 2023 84,127 2024 31,220 140,623 Less imputed interest (8,106) Total lease liabilities $ 132,517
Leases	Leases We have entered into operating and finance leases primarily for real estate and equipment rental. These leases have terms which range from three years to five years, and often include one or more options to renew or in the case of equipment rental, to purchase the equipment. These operating and finance leases are listed as separate line items on our consolidated balance sheets and represent our right to use the underlying asset for the lease term. Our obligation to make lease payments is also listed as separate line items on our consolidated balance sheets. As of September 30, 2022 and December 31, 2021, total operating and financed right-of-use assets were $397,850 and $128,589, and $641,306 and $201,902, respectively. As of September 30, 2022 and 2021, we recorded $73,313 and $237,423, respectively, in amortization expense related to finance leases. Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Information related to our operating lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for operating lease liabilities $ 316,597 Weighted-average remaining lease term 3.2 years Weighted-average discount rate 6.25 % Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 97,360 2023 301,029 2024 16,236 2025 5,251 2026 1,590 421,466 Less imputed interest (22,376) Total lease liabilities $ 399,090 Information related to our financed lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for finance lease liabilities $ 92,622 Weighted-average remaining lease term 1.6 years Weighted-average discount rate 6.25 % Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 25,276 2023 84,127 2024 31,220 140,623 Less imputed interest (8,106) Total lease liabilities $ 132,517

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements presented are for Inuvo and its subsidiaries. The accompanying unaudited consolidated financial statements have been prepared based upon SEC rules that permit reduced disclosure for interim periods. Certain information and footnote disclosures have been condensed or omitted in accordance with those rules and regulations. The accompanying consolidated balance sheet as of December 31, 2021, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States ("GAAP"). In our opinion, these consolidated financial statements reflect all adjustments that are necessary for a fair presentation of results of operations and financial condition for the interim periods shown including normal recurring accruals and other items. The results for the interim periods are not necessarily indicative of results for the full year. For a more complete discussion of significant accounting policies and certain other information, this report should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 17, 2022.
Use of estimates	Use of estimates The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s regular evaluation of the relevant facts and circumstances as of the date of the consolidated financial statements. We regularly evaluate estimates and assumptions related to capitalized labor, goodwill and purchased intangible asset valuations and income tax valuation allowance. Actual results may differ from the estimates and assumptions used in preparing the accompanying consolidated financial statements, and such differences could be material.
Revenue Recognition	Revenue Recognition Both of our platforms generate revenue from ad placements and clicks on advertisements on websites, some of which we own. We recognize revenue from ad placements and clicks in the period in which they occur. We also recognize revenue from serving impressions when we complete all or a part of an order from an advertiser. The revenue is recognized in the period that the impression is served. We subsequently settle these transactions with our business partners at which time adjustments for invalid traffic may impact the amount collected. Payments to publishers who display advertisements on our behalf and payments to ad exchanges are recognized as cost of revenue.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet AdoptedIn June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. On November 15, 2019, the FASB delayed the effective date for certain small public companies and other private companies. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, as well as private companies and not-for-profit entities. We are currently evaluating the potential impact of this new standard to our consolidated financial statements.
Reclassification	Reclassification:We have reclassified amounts pertaining to marketable securities on the statement of cash flows for the nine months ended September 30, 2021 to conform to the current period's presentation.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Revenue from Products and Services	The below table is the proportion of revenue that is generated through advertisements on our ValidClick (Search and Social) and IntentKey (Programmatic) platforms: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 ValidClick Platform $ 11,376,654 66.6 % $ 11,742,855 69.7 % $ 35,895,754 61.5 % $ 29,955,169 74.7 % IntentKey Platform 5,695,535 33.4 % 5,098,180 30.3 % 22,437,105 38.5 % $ 10,139,258 25.3 % Total $ 17,072,189 100.0 % $ 16,841,035 100.0 % $ 58,332,859 100.0 % $ 40,094,427 100.0 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Investments and Assets at Fair Value	Investment Assets at Fair Value Investment Assets at Fair Value As of September 30, 2022 As of December 31, 2021 Level 1 Total Level 1 Total Debt securities $ 888,928 $ 888,928 $ 959,207 $ 959,207 Equity securities $ 1,601,669 $ 1,601,669 $ 1,828,284 $ 1,828,284 Cash equivalents $ 1,756,382 $ 1,756,382 $ 5,222,759 $ 5,222,759 Total Investments at Fair Value $ 4,246,979 $ 4,246,979 $ 8,010,250 $ 8,010,250 As of September 30, 2022 As of December 31, 2022 Cost Unrealized Gain (Loss) Fair Value Cost Unrealized Gain (Loss) Fair Value Marketable securities Debt securities $ 1,021,430 $ (132,502) $ 888,928 $ 905,470 $ 53,737 $ 959,207 Equity securities 2,216,621 (614,952) 1,601,669 2,100,305 (272,021) 1,828,284 Total marketable securities $ 2,490,597 $ 2,787,491

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Net Carrying Value of Property and Equipment	The net carrying value of property and equipment was as follows as of: September 30, 2022 December 31, 2021 Furniture and fixtures $ 293,152 $ 293,152 Equipment 1,263,308 1,164,671 Capitalized internal use and purchased software 14,125,059 12,914,820 Leasehold improvements 461,325 458,885 Subtotal 16,142,844 14,831,528 Less: accumulated depreciation and amortization (14,449,437) (13,324,762) Total $ 1,693,407 $ 1,506,766

Other Intangible Assets and G_2

Other Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets from Continuing Operations	The following is a schedule of intangible assets and goodwill as of September 30, 2022: Term Carrying Accumulated Amortization and Impairment Net Carrying Value Year-to-date Amortization Customer list, Google 20 years $ 8,820,000 $ (4,667,250) $ 4,152,750 $ 330,750 Technology 5 years 3,600,000 (3,600,000) — 60,000 Customer list, ReTargeter 5 years 1,931,250 (1,223,126) 708,124 289,688 Customer list, all other 10 years 1,610,000 (1,610,000) — 26,794 Brand name, ReTargeter 5 years 643,750 (407,708) 236,042 96,562 Customer relationships 20 years 570,000 (161,500) 408,500 21,375 Trade names, web properties (1) - 390,000 — 390,000 — Intangible assets classified as long-term $ 17,565,000 $ (11,669,584) $ 5,895,416 $ 825,169 Goodwill, total - $ 9,853,342 $ — $ 9,853,342 $ — (1) The trade names related to our web properties have an indefinite life, and as such are not amortized.
Schedule of Amortization Expense	Amortization expense over the next five years and thereafter is as follows: 2022 (remainder of year) $ 246,125 2023 984,500 2024 769,917 2025 469,500 2026 469,500 Thereafter 2,565,876 Total $ 5,505,418

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	The accrued expenses and other current liabilities consist of the following as of: September 30, 2022 December 31, 2021 Accrued marketing costs $ 4,404,234 $ 4,267,980 Accrued expenses and other 1,006,427 956,998 Accrued payroll and commission liabilities 864,239 121,533 Arkansas grant contingency 5,000 10,000 Accrued taxes, current portion 1,638 17,880 Total $ 6,281,538 $ 5,374,391

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Grants Outstanding	The following table summarizes the stock grants outstanding under the 2017 ECP and the 2010 Equity Compensation Plan (“2010 ECP”) for the nine months ended September 30, 2022: Options Outstanding RSUs Outstanding Options and RSUs Exercised Available Shares Total Awards Authorized 2017 ECP 100,000 4,913,339 4,560,799 14,975,862 24,550,000 2010 ECP (*) — — 5,011,511 — 5,011,511 Total 100,000 4,913,339 9,572,310 14,975,862 29,561,511 (*) Expired April 2020
Schedule of Stock Option Award Activity	The following table summarizes the activity of stock option awards for the nine months ended September 30, 2022: Shares Subject to Options Outstanding Number of Shares Weighted Average Exercise Price Outstanding, beginning of period 1,500 $ 0.56 Stock options exercised — $ — Stock options granted 100,000 $ 0.52 Stock options canceled (1,500) $ 0.56 Outstanding, end of period 100,000 0.52 Exercisable, end of period 100,000 0.52
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activities for our RSUs for the nine months ended September 30, 2022: RSUs Number of Shares Weighted Average Grant Date Fair Value Outstanding, beginning of period 3,960,001 $ 1.33 Granted 2,960,000 $ 0.41 Vested (1,826,661) $ 1.34 Canceled (180,001) $ 0.95 Outstanding, end of period 4,913,339 $ 0.79

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Information Relating to Leases	Information related to our operating lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for operating lease liabilities $ 316,597 Weighted-average remaining lease term 3.2 years Weighted-average discount rate 6.25 % Information related to our financed lease liabilities are as follows: For the Nine Months Ended September 30, Cash paid for finance lease liabilities $ 92,622 Weighted-average remaining lease term 1.6 years Weighted-average discount rate 6.25 %
Schedule of Operating Lease Maturity	Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 97,360 2023 301,029 2024 16,236 2025 5,251 2026 1,590 421,466 Less imputed interest (22,376) Total lease liabilities $ 399,090
Schedule of Finance Lease Liability	Minimum future lease payments ended September 30, 2022 2022 (remainder of the year) $ 25,276 2023 84,127 2024 31,220 140,623 Less imputed interest (8,106) Total lease liabilities $ 132,517

Organization and Business - Nar

Organization and Business - Narrative (Details)			1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 22, 2021 USD ($) shares	Jan. 19, 2021 USD ($) shares	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) patent	Dec. 31, 2021 USD ($)	May 28, 2021 USD ($)
Debt Instrument [Line Items]
Number of patents issued | patent					17
Number of pending patents | patent					8
Cash, cash equivalents, and marketable securities				$ 7,700,000	$ 7,700,000
Net working capital				5,900,000	5,900,000
Accumulated deficit				153,080,771	153,080,771	$ 143,951,019
Sale of stock, consideration received on transaction	$ 6,250,000	$ 8,000,000
Shares authorized amount (in shares) | shares	5,681,817	13,333,334
Payments to acquire investments			$ 2,000,000
Cash deposited, interest-bearing			$ 10,000,000
Sales Agreement
Debt Instrument [Line Items]
Sale of stock, consideration received on transaction, authorized amount							$ 35,000,000
Number of days for advance notice							10 days
Commission fee, percent							3%
Money Market Funds and Marketable Debt and Equity Securities
Debt Instrument [Line Items]
Deposits				$ 4,200,000	$ 4,200,000
Net Revenue | Customer Concentration Risk | Customer One
Debt Instrument [Line Items]
Percentage of concentration risk				33.10%	26.10%
Net Revenue | Customer Concentration Risk | Customer Two
Debt Instrument [Line Items]
Percentage of concentration risk				30%	26.40%
Net Revenue | Customer Concentration Risk | Customer Three
Debt Instrument [Line Items]
Percentage of concentration risk				10.90%	9.10%
Net Revenue | Customer Concentration Risk | Customer One, Two, and Three
Debt Instrument [Line Items]
Percentage of concentration risk				74%	61.60%
Accounts Receivable | Customer Concentration Risk | Customer One, Two, and Three
Debt Instrument [Line Items]
Percentage of concentration risk					70.30%	34.30%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Summary of Revenue from Products and Services (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 17,072,189	$ 16,841,035	$ 58,332,859	$ 40,094,427
Percentage of total revenue	100%	100%	100%	100%
ValidClick Platform
Disaggregation of Revenue [Line Items]
Net revenue	$ 11,376,654	$ 11,742,855	$ 35,895,754	$ 29,955,169
Percentage of total revenue	66.60%	69.70%	61.50%	74.70%
IntentKey Platform
Disaggregation of Revenue [Line Items]
Net revenue	$ 5,695,535	$ 5,098,180	$ 22,437,105	$ 10,139,258
Percentage of total revenue	33.40%	30.30%	38.50%	25.30%

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Investments at Fair Value (Details) - Fair Value, Recurring - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 888,928	$ 959,207
Equity securities	1,601,669	1,828,284
Cash equivalents	1,756,382	5,222,759
Total Investments at Fair Value	4,246,979	8,010,250
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	888,928	959,207
Equity securities	1,601,669	1,828,284
Cash equivalents	1,756,382	5,222,759
Total Investments at Fair Value	$ 4,246,979	$ 8,010,250

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Cash Equivalents and Marketable Securities (Details) - Fair Value, Recurring - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, fair value	$ 888,928	$ 959,207
Equity securities, fair value	1,601,669	1,828,284
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, cost	1,021,430	905,470
Debt securities, unrealized gain (loss)	(132,502)	53,737
Debt securities, fair value	888,928	959,207
Equity securities, cost	2,216,621	2,100,305
Equity securities, unrealized gain (loss)	(614,952)	(272,021)
Equity securities, fair value	1,601,669	1,828,284
Total marketable securities	$ 2,490,597	$ 2,787,491

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 16,142,844		$ 16,142,844		$ 14,831,528
Less: accumulated depreciation and amortization	(14,449,437)		(14,449,437)		(13,324,762)
Total	1,693,407		1,693,407		1,506,766
Depreciation expense	394,942	$ 325,112	1,124,674	$ 944,746
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	293,152		293,152		293,152
Equipment
Property, Plant and Equipment [Line Items]
Subtotal	1,263,308		1,263,308		1,164,671
Capitalized internal use and purchased software
Property, Plant and Equipment [Line Items]
Subtotal	14,125,059		14,125,059		12,914,820
Leasehold improvements
Property, Plant and Equipment [Line Items]
Subtotal	$ 461,325		$ 461,325		$ 458,885

Other Intangible Assets and G_3

Other Intangible Assets and Goodwill - Schedule of Goodwill and Intangible Assets (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Net Carrying Value	$ 5,505,418
Year-to-date Amortization	825,169
Trade names, web properties	390,000
Intangible assets classified as long-term
Carrying Value	17,565,000
Accumulated Amortization and Impairment	(11,669,584)
Net Carrying Value	5,895,416	$ 6,720,585
Goodwill, Impaired, Accumulated Impairment Loss
Carrying Value	9,853,342
Net Carrying Value	$ 9,853,342	$ 9,853,342
Customer list, Google
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	20 years
Carrying Value	$ 8,820,000
Accumulated Amortization and Impairment	(4,667,250)
Net Carrying Value	4,152,750
Year-to-date Amortization	$ 330,750
Technology
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years
Carrying Value	$ 3,600,000
Accumulated Amortization and Impairment	(3,600,000)
Net Carrying Value	0
Year-to-date Amortization	$ 60,000
Customer list, ReTargeter
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years
Carrying Value	$ 1,931,250
Accumulated Amortization and Impairment	(1,223,126)
Net Carrying Value	708,124
Year-to-date Amortization	$ 289,688
Customer list, all other
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	10 years
Carrying Value	$ 1,610,000
Accumulated Amortization and Impairment	(1,610,000)
Net Carrying Value	0
Year-to-date Amortization	$ 26,794
Brand name, ReTargeter
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	5 years
Carrying Value	$ 643,750
Accumulated Amortization and Impairment	(407,708)
Net Carrying Value	236,042
Year-to-date Amortization	$ 96,562
Customer relationships
Schedule of Finite-Lived Intangible Assets and Goodwill [Line Items]
Term	20 years
Carrying Value	$ 570,000
Accumulated Amortization and Impairment	(161,500)
Net Carrying Value	408,500
Year-to-date Amortization	$ 21,375

Other Intangible Assets and G_4

Other Intangible Assets and Goodwill - Amortization Expense (Details)	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remainder of year)	$ 246,125
2023	984,500
2024	769,917
2025	469,500
2026	469,500
Thereafter	2,565,876
Net Carrying Value	$ 5,505,418

Bank Debt (Details)

Bank Debt (Details) - Hitachi Capital America Corp. - USD ($)	Mar. 12, 2020	Feb. 28, 2020	Sep. 30, 2022
Debt Instrument [Line Items]
Commitment fee		$ 50,000
Balance due, term		6 months
Annual commitment fee amount		$ 15,000
Quarterly service fee (as a percentage)		0.30%
Outstanding balance			$ 0
Percentage due upon execution of agreement	50%
Loan And Security Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 5,000,000
Percentage of aggregate eligible accounts receivable		90%
Percentage of aggregate unbilled accounts receivable		75%
Percentage of amount available to borrow under maximum credit commitment		50%
Stated interest rate		6.75%
Monthly Interest | Loan And Security Agreement
Debt Instrument [Line Items]
Stated interest rate		2%

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued marketing costs	$ 4,404,234	$ 4,267,980
Accrued expenses and other	1,006,427	956,998
Accrued payroll and commission liabilities	864,239	121,533
Arkansas grant contingency	5,000	10,000
Accrued taxes, current portion	1,638	17,880
Total	$ 6,281,538	$ 5,374,391

Commitments (Details)

Commitments (Details) - USD ($)		9 Months Ended
	Sep. 17, 2021	Sep. 30, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Referral and support services agreement advance	$ 1,500,000	$ 875,000	$ 1,100,000
Referral agreement term	5 years
Amortization of referral agreement as marketing expense		$ 325,000
Number of securities called by each warrant or right (in shares)	300,000
Vesting period		2 years
Current Asset
Other Commitments [Line Items]
Referral and support services agreement advance	$ 300,000
Other Assets
Other Commitments [Line Items]
Referral and support services agreement advance	$ 1,200,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 35,576,360
Valuation allowance	33,988,760	$ 33,988,760
Deferred tax liability	1,694,600
Net deferred tax liability composed of indefinite lived intangible assets	$ 107,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)			3 Months Ended		9 Months Ended
	Jun. 16, 2022	Jan. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option and restricted stock unit vesting period (up to)					3 years
Number of shares reserved for issuance (in shares)			29,561,511		29,561,511
Stock based compensation			$ 535,457	$ 613,544	$ 1,890,991	$ 1,566,016
Compensation cost related to non vested awards not yet recognized			$ 2,762,270		$ 2,762,270
Average remaining expense recognition period					1 year
2017 ECP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares of common stock reserved for grants (in shares)	15,000,000	150,000
Number of shares reserved for issuance (in shares)			24,550,000		24,550,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Grants (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	100,000	1,500
RSUs Outstanding (in shares)	4,913,339
Options and RSUs Exercised (in shares)	9,572,310
Available Shares (in shares)	14,975,862
Total Awards Authorized (in shares)	29,561,511
2017 ECP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	100,000
RSUs Outstanding (in shares)	4,913,339
Options and RSUs Exercised (in shares)	4,560,799
Available Shares (in shares)	14,975,862
Total Awards Authorized (in shares)	24,550,000
2010 ECP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding (in shares)	0
RSUs Outstanding (in shares)	0
Options and RSUs Exercised (in shares)	5,011,511
Available Shares (in shares)	0
Total Awards Authorized (in shares)	5,011,511

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Outstanding Options (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Outstanding beginning balance (in shares) | shares	1,500
Stock options exercised (in shares) | shares	0
Stock options granted (in shares) | shares	100,000
Stock options canceled (in shares) | shares	(1,500)
Outstanding ending balance (in shares) | shares	100,000
Stock options exercisable (in shares) | shares	100,000
Weighted Average Exercise Price
Outstanding beginning balance (in usd per share) | $ / shares	$ 0.56
Stock options exercised (in usd per share) | $ / shares	0
Stock options granted (in usd per share) | $ / shares	0.52
Stock options canceled (in usd per share) | $ / shares	0.56
Outstanding ending balance (in usd per share) | $ / shares	0.52
Stock options exercisable (in usd per share) | $ / shares	$ 0.52

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Unvested RSU (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Outstanding, end of period (in shares)	4,913,339
Restricted Stock Units
Number of Shares
Outstanding, beginning of period (in shares)	3,960,001
Granted (in shares)	2,960,000
Vested (in shares)	(1,826,661)
Canceled (in shares)	(180,001)
Outstanding, end of period (in shares)	4,913,339
Weighted Average Grant Date Fair Value
Outstanding, beginning of year (in usd per share) | $ / shares	$ 1.33
Grants (in usd per share) | $ / shares	0.41
Vested (in usd per share) | $ / shares	1.34
Canceled (in usd per share) | $ / shares	0.95
Outstanding, end of year (in usd per share) | $ / shares	$ 0.79

Stockholders' Equity (Details)

Stockholders' Equity (Details)			9 Months Ended
	Aug. 31, 2022 shares	Sep. 17, 2021 USD ($) $ / shares tranche shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 shares	Aug. 19, 2021 shares	Jan. 07, 2021 shares	Jan. 06, 2021 shares
Class of Warrant or Right [Line Items]
Referral agreement term		5 years
Class of warrant or right, granted in period (in shares)		300,000
Exercise price of warrant (in usd per share) | $ / shares		$ 0.72
Number of tranches | tranche		2
Warrants outstanding | $		$ 149,551
Warrants outstanding, term		7 years
Shares vested (in shares)	85,862
Stock warrant expense | $			$ 28,477	$ 0
Common stock shares authorized (in shares)			200,000,000		200,000,000	200,000,000	150,000,000	100,000,000
Measurement Input, Implied Volatility
Class of Warrant or Right [Line Items]
Warrants outstanding, measurement input		1
Measurement Input, Share Price
Class of Warrant or Right [Line Items]
Warrants outstanding, measurement input | $ / shares		0.71
Measurement Input, Risk-free Yield
Class of Warrant or Right [Line Items]
Warrants outstanding, measurement input		0.0117
Maximum
Class of Warrant or Right [Line Items]
Referral agreement term		5 years

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Right of use assets - operating lease	$ 397,850		$ 641,306
Right of use assets - finance lease	128,589		$ 201,902
Finance lease amortization expense	$ 73,313	$ 237,423
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	5 years

Leases - Operating Leases (Deta

Leases - Operating Leases (Details)	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for operating lease liabilities	$ 316,597
Weighted-average remaining lease term	3 years 2 months 12 days
Weighted-average discount rate	6.25%
Minimum future lease payments ended September 30, 2022
2022 (remainder of the year)	$ 97,360
2023	301,029
2024	16,236
2025	5,251
2026	1,590
Payments due	421,466
Less imputed interest	(22,376)
Total lease liabilities	$ 399,090

Leases - Finance Leases (Detail

Leases - Finance Leases (Details)	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for finance lease liabilities	$ 92,622
Weighted-average remaining lease term	1 year 7 months 6 days
Weighted-average discount rate	6.25%
Minimum future lease payments ended September 30, 2022
2022 (remainder of the year)	$ 25,276
2023	84,127
2024	31,220
Payments due	140,623
Less imputed interest	(8,106)
Total lease liabilities	$ 132,517