INUV - Earnings call 4 2023

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Operator

Good day, ladies and gentlemen, and welcome to the Inuvo, Inc. Fourth Quarter and Year-end 2023 Conference Call. [Operator Instructions].

Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]. recorded February being XXXX. is call on XX, Thursday, This conference to [ I like the over would now turn to Alexandra Schulte]. Please go ahead.

Unknown Executive

and us Inuvo Howe; and operator, everyone Call. Today, Inuvo's Year you, good Officer, like Update I'd Thank Richard Executive to XXXX for Shareholder joining Quarter today Fourth the Chief Chief for and Full afternoon. thank our Securities Officer, Ruiz will that call. Exchange like also would our afternoon. Wally be shareholders the the Financial to plan we XX-K Commission this file to We and your presenters with remind on

could, statements may such to are results differ may forward-looking actual intend, begin, at to risks statement. Investors I'm that Securities the the used we subject and historical call, involve statement. such, results statements relating Before Act potential, are harbor in Inc. Reform expect, descriptions they this materially. cautioned events, uncertainties, that Litigation actual words are which When forward-looking forward-looking statements The not and in going should, facts XXXX. to to made call review as conference pursuant future These company's statements and and forward-looking forward-looking as to by this are cause to as safe differ similar enable, risks of time. are of those from anticipated Inuvo uncertainties, believe, relate expressions this estimate, a will, project all statements anticipate, and are the all Inuvo

disclose forward-looking forward-looking any company or makes after can hereof U.S. reviewed www.sec.gov. The In described the commitment Inuvo's events upon Commission, Securities statements. to addition, bear in the filings and public risks Exchange any facts, be statements other with which that circumstances fully to are at date or revisions no more

Please its company the such historical non-GAAP measures of believes on release In today's to to addition, provides will go that, measures. measures our directly measurement call ahead. I is additional consistent discussion comparable references information Howe. comparison A that news the available now GAAP most and reconciliation performance. turn an Richard will website. The to over non-GAAP include in the today's With CEO, of

Richard K. Howe

thanks, for Ali, joining everyone, us you, Thank and today.

to XX% delivered growth million pleased quarterly that quarter with XXXX, strong in a are report ended for we year-over-year revenue. XX, $XX.X December We the

For the that and quarter interesting industry several X.X% be a rate point low had fourth COVID XXXX. we've and quarter the in through also note compounded positive growth end to of the XXXX, more share do the on gives industry, us the my our our like and XXXX you for announcements XXXX where will about bringing X% Wally largely the results details speed products And company was at rate in to year, company consequence us revenue real course, however, first half it past was a down flow ever revenue at how was quarter. of XX% a million, up expect while weaker-than-expected would performed a highest stated positive. It second was may year-over-year. times cash many free overall, the revenue the maintained, which to to I'd shortly. What clients. and time run in advancements QX, up confidence trajectory we product that get quarterly client $XX.X story, year, the of well second have to since the This of the of spend recorded our its our year. of we if The in quarterly financial to

challenge hundreds any of those other hard effectiveness of incumbents and measure audiences XX% the in and on roughly and if not across Apple of technologies that device. Generally, predictively of does depend industry methods. favor that by were host alive is companies the scrambling put of to and has target believe from are suitable various untargeted tracking identity in Neither that mix tracking, before the other workarounds turning part, less user whose companies of designed of engineering digital billion results systems this And our that not being Apple funds moment across has began States. models accelerating, built the acceptable these ago there investments the spend go specifically are into to is over existing technology when the third-party effective being to and people. or in this the dependent on plumbing identity this Internet technologies December and years begun the iOS consumer's technological we anything, not those most use annually mobile we having the Internet of because is change consequently, Starting user not an suggest keep implement be devices open time. produce back A the the Apple this the person's devices literally on catalyst very are to uses worldwide by a that dependent because and both in U.S. is the constitutes going which phasing businesses data Apple which X identify designed originally building eyes. finally this can year. Inuvo ad through supporting lobbying advertising United our technology Inuvo's been change. I'd likely legislative devices. jumped of nearly single audiences, complete with approach all iOS monumental advertisers. Google those for is targeting making And and use overall browser are begin are identity-based perspective. to track user $XXX There to driven is the audiences using approaches. is of to to this share was back like the market technology. identity. cookie for biggest do resulting has the is browser blocked no via to prevent represents are pressure redesigned this based year this reshaping in because reason web. out We The approach the data. activity targeting. for most industry. individual's of contextually continues ad tracking. The foundation that they And Internet behind Let's it's they will on using for reimagined of This for these this XX%

in and insights literal how In delivered. of have Google a in revolutionary this vendors performance not having is rely now other results on identity in against search. company Microsoft open recently We the vetting OpenAI, of that implemented competitively. I web starting spend and early the what next of and could other cannot large derivative proprietary the be the products. only a gone next same out enough are I'm company's way, identity We come our as is large and not has media technologies that large solution because artificial language-based evolution the in through X signed we outperformed to product testing, client technologies some manner technology We It sense up a potentially solves business, evolution aware other has and is to client, specifically up that And introduced our scale targeting. Inuvo. a language because in targeting the ad generative get problem. process That technology XXXX. does we've beat intelligence with in their head-to-head our emphasize

model case many we the and significant now mover competitive started that advantage [indiscernible] the demand arrived. a had better our for large this time first paradigm start few advertising the language since to Inuvo transformation. experience advertisers is goes brand advantage We've products importance RAI was developing to industry over years use data provided decision they beginning any performance privacy years this us of advertising over increased citations has we saw XXXX. well media than the begin this that history. ago, for XXXX the expect transformation, received next future in the services for here has new and associated in for. through understand and of when consumer XX We've stay, that As science our of AI declines designed exposure experience a to as with to more this A branch

shift to and clients. now products Let's

As is the business company, managed our among assets companies. technologies been of we various world's as across previously, mostly we some and entire have a business, count where This service clients, a have largest and technology, using we our the now focused auto model. true on discussed within retail

and our to ads in brands sold clients we have have services products platform whom XX agencies, over We for XXXX. and billion placed

as over new within Going and and advertiser consolidators and large relationship platform agencies new in one the Platform and media forward, had demand. largest support, our brand while split relationships providing budgets. XXXX. industries. Currently, and many We platforms In agency agency individual advertising our of broad agencies clients and and sales in X revenue platform These these to auto We point XXXX, XX platforms. thousands in less we agencies of XX% client across plan We've was to to XXX disclose crossed relationships effect, are relationships campaigns access investment XXXX. access platforms. defined brands and XX% another at over campaigns and brands for budgets. require In and ran new for clients retail. brand categories, revenue brands

to beta As several now now the of served it are implementation product we as as version support clients that be best through scale this system. understand intelligence AI, think we phases. The accessed to across able popular feature-rich way can service of XXXX, IntentKey the its most deliver, self-service to about frictionlessly solution into campaign advertising numerous and having head is an a a artificial

a Web, as For higher-margin is to platforms. these This referred generally the Inuvo. demand are product for Open side

it the line. the next So as few can over years, to we this significantly scale contribute bottom

hiring the are to dedicated We self-service-oriented these salespeople in additional of buyers. process

already Internet we and higher This in earlier, in differentiated is assets competitively this client delivering both within new at the way. we The leveraged existing a platform IntentKey a a mentioned integration new [ company. is at ] large question Bond end fire opportunity, and of also As client XXXX. from In revenue new margins. had

only The with first the AI cost. as months of revenue encouraging, line already delivering strategies. Service bottom additional this I forms previously, X part overall improvement XXXX in have month with marginal described $XX,XXX roughly per our product a Along been

this in Our advertising is important an years automation part upside expanding and this of strategic strong To our initiative digital scaling along capabilities. accordingly, initiative see this properties, been line over demand, a have fraud campaign with our client potential as top see few brought in largest technologies, XXXX. a we of meet predictive itself next the because platform We strategy. and detection client to market that

at a client XXXX, be IntentKey the used This and is to campaigns that investments. challenge is the will in those creates of giving saw analytical our put marketing Inuvo no the this solution a very in they Marketing consumers and their contextual the to of inventory. the This tactics, technologies by We of out AI consumers audiences levels inability the audience that of spend product to measure information convert. collection therefore, release description This has we contextual of instantly piece able first optimal is of in just-in-time Chief language done audience being capability we how saw need described able targeting advertising intelligence only discussing serious first One programmatic their unlimited tune version action the way, media because flexibility. This to no of capable I a to media one. predicts to into at the track channel. In why continuously dashboard predict ever XXXX, proprietary also on a enough. most across Officers, longer portal access Every measure This information a The significant week for model this presented based directly on never allows available is relative audience consequences investments generate imagery curation Traditional advertising, CMOs that advertising selection to when earlier. We other and provide before. and much or possible to of channels, reporting cannot audiences. were win inuvo.com/portal. patented their these and made with across is a be audiences no channels of incorporated return we plethora I its deploy. In campaigns capability generated services investment creating work those this products, will kind was attribute critical this this within company deterministic on that artificial is this and generative large brands virtually of in Inuvo's AI. representative our this Netflix based AI. capability commercial longer been trust of the challenge, longer also larger feature a they same the the can to the to measurement clients a online who optimal

continuing to our catch not ways for we we increasingly in our it on Now will AI, AI continuing competitors that as laurels. are investment harder are the Rather, in our resting it make to relates training to up. expand

involves Our to specific events about latest are to occur currently research across the occurring audiences generating and/or country.

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Wally Ruiz

Good you, financial the Rich. everyone. and quarter for I'll Thank results afternoon, our recap XXXX. full year of fourth

As year, for XXXX, last $XX.X same that's year, this mentioned, year and fourth the to Inuvo increase. the XX% $XX.X quarter prior revenue million or period reported of the for of Rich the million compared

As Rich disclosing this we'll in customers X and and revenue customers. We platform agency his go-to-market remarks, better activity. going pointed in our forward, believe reflects categories: out brand be

million scaling for new the We million $XX.X the of of agency was XXXX customers. compared in slight our in customer. We start XXXX. year higher platform half slower-than-expected XXXX. new year is full to customers revenue revenue customers from agency as revenue due platform is The a reported to decrease XX% of of the have largest brand platform from in $XX.X year. of XXXX a due first brand to XX full in XX% the XXXX, The customer one and decrease and of and

where and brought the and For revenue to for the was million in XXXX. Cost of XXXX, compared the ended of Cost ended margin compared full is XXXX the for quarter program $X.X client for of compared the increased was due of XX, and compared agencies revenue year $XX.X for gross the that platforms fourth was $XX.X on year to XX.X% gross decrease of $XX.X the of inventory XXXX million year compared market XX% to million mix increased mix. higher was change December extent, to by it due to that of months XX, the last for full mix. year. year in I Cost $XX.X year. year as XXXX XXXX for as to revenue composed quarter of X last million to the loss year improved gross prior XX, result in XXXX last to change from The The ended late primarily the in brands. payments digital million The revenue million for lesser year. year. Again, compared to revenue December XX.X% cost December the customer December revenue that the the XXXX, a last profit was period profit access to provide the of to and the in fourth where period was serve period last the same was advertising profit ended XX, prior margin from an XX% mentioned, of XX, to quarter year XX% XXXX a in advertisements. Gross last was we year. XX% scaling full revenue full fourth same of compared ended and million $XX.X December for agency and profit in margin $XX.X year $X.X our largest the to the to focusing the current the change that primarily The year. million Gross to the XXXX to in for as last exchanges compared in

compared percentage a in Marketing acquisition of XXXX primarily are margin. Operating from million for which $XX.X for XXXX the was $XX in has the million salary, typically the to costs to period platforms, campaigns. a the greater gross were $XX.X higher or this of revenue fourth primarily XXXX expense year. Compensation last million quarter associated Operating the was full of year year. commissions We expenses with compared year. $XX Marketing to totaled to higher year million the to same $XX.X team the Compensation to million market XXXX, in $X.X increase quarter in to expenses. of for compared totaled our $XX.X programs fourth of invested result costs XXXX were $XX.X go-to-market same traffic million XXXX, incentive designed full last increased of a and expense ended year. XX, the year we the last exposure. Marketing due million million costs December quarter year same compared in our In $XX.X as for compared million marketing in and $X.X million. the fourth quarter costs XXXX prior was higher media expenses

For the million $XX.X was to full compensation year XXXX. $XX.X expense million of compared in XXXX,

XXXX. Our million we both decrease same in of lower and quarter go-to-market the $X.X full their the sales to for of and costs full X.X% year, support a in full the compared the financing expense administrative reserve year, total to in $X at year and a General XXXX professional primarily to accounts expense Net doubtful basis. for XX%. General on part-time fees. in decrease prior to year XXXX, million to the the of was compared compared XXXX, due decrease at prior fourth to million was in administrative for a quarter $X,XXX General and last to full in commission compared were approximately year. administrative quarter $XX,XXX and expense incentive same and an compared the $X.X XX the financing and XXXX in XX, the compared XXXX of And team $X.X million was $XX,XXX was fourth same employment, to income to was quarter last and year. $XX,XXX in XX year XXXX the our approximately programs. expense XXXX added time for XXXX. In of Net December a approximately

or income a we free trading of used working an $X prior full diluted unrealized to year year and had year. The and had last We cash where to in compared fourth quarter as flow Last million September million was the in net realized in $X.X approximately for million $X.XX of of per EBITDA over to XX, $XXX,XXX. year for XXXX, of from cash $X.XX XXXX, loss had million was expense and for of year $X.X or XXXX. with XX, for a flow prior $X.X million and compared basic ended improved basic quarter $X an quarter of million XX, in the year the improved quarter XXXX. loss diluted of expense It for and last equivalents $XXX,XXX compared $XX.X $X.XX and loss approximately loss improved And reported to last XXXX. compared per by $X full in December share associated $XX,XXX losses year's $X.XX and cash net for fourth $X.X capital year, the income a net share the of fourth On or XXXX, on XXXX. loss year. million to XXXX the last per loss net it Turning of $XX.X loss the other net share was share also basic cash the XXXX through December adjusted expense. was securities. for $X.X full ended year. Adjusted The The of year loss December the full year. per a the to a million Net or at the a compared that same million million EBITDA company May improved of positive the

which million outstanding no balance. we working line had In credit, addition, capital $X of a maintain

back outstanding. X We the out outstanding, have remarks. with employee turn closing over and money I'll With warrants the call that, common a capital shares to million Rich units outstanding stock simple structure XXX of for restricted million XXX,XXX

Richard K. Howe

We head strong past XXXX, as XX% Wally. Thanks, growth provides we we a required growing. year-over-year fourth quarter had XX%, second which confidence into year-over-year to continue that momentum of growth a have the and of

of $XXX now gross example in quarter. mentioned have a occurred previous cash and we have Inuvo's our We we reported much are to that of a this $XX.X Operator? believe to this annual and in flow. An of of questions. fixed change will of did As can capable flow level, in revenue revenue. flow we million costs. of therefore, operator metrics XXXX, for XXXX quarter positive the begin the cash quarters, financial threshold At threshold generate in margins absorbing free third And to call I positive roughly at we plan have be positive. million. this reach in where over the turn cash

Operator

One for please, Instructions]. your moment, [Operator first question.

Your first question Brian Alliance Kinstlinger comes Global from Partners. from

Brian Kinstlinger

Netflix advertisers maybe Exciting related highlight news educate and then And that's helped the it's measuring to to customers, advertisers you how results testing and the do that, decisions? agencies? second, plan how with been budget Great. adds make about beta done

Richard K. Howe

Yes, Brian.

all people media when of and campaigns been real is to been that the a it that technologies to a the will So can't the breaks hasn't historically optimize fact, and across one-to-one know use developed no perhaps cookie existing decisions no about Not around function advertising there's Internet, longer And and that one-to-one their that around actually have and when anymore big the exist. technology track a there connection longer they and issue. was connection. technologies be even is them a it's because you used CMOs channels not The long all available purchased, weakness are thing within weakness a time. that been for has budget in but

for we us. our to now of customers across proving completed is have good component initiative number in a this of that XXXX implemented So been and really have technology a

capability. optimization audience as the sorry. talked was In for predictive client budget as fact, large the one this I'm capability earlier targeting about cookieless was for I it much win

what question? the was Sorry, second

Brian Kinstlinger

Yes.

handful We're that are customers beta a sounds have it mistaken like So you are the to answer numbers not [indiscernible] of question. now customers.

again, I get question aware become anywhere I would this not else. have small -- of sure market? do you how How educate other deploy, they a The capital you're I'm part limited company, can the mean, do to you is,

Richard K. Howe

Yes.

I most component we've we some is -- we've a investing, investing large more street, So time, the the media all Brian. total on well, to than it on in the least do is of to force We past to they simply better the they And result, don't result start we're XXXX that correct funded maybe obviously, that I have. jump talking that's the have But the story in that, as people got just sales there's actually did near. money. or prospects have you're companies, fraction gotten mean to the compared end avenue. that in other exposure of lot continue XXXX in by increase starting on going believe of marketing. And to the some a it's the is at the of media the reality in of that one

this. a was this I on see for fact, just In us. accelerating recently featured podcast about I

word and best our clients, for for So these out I we Inuvo. that to X can increase the exposure get we're got the to as brand canvassing much avenues we've sure marketplace the are performed as mean, make the

Brian Kinstlinger

have I X Great. more questions.

I election opportunity should level, usual. as you growth the At showed IntentKey of have we with signs your reasonable quarter high the rate is then we've but it targets How think about your assume some The And with also in market an discuss maybe XXXX? weak but a seasonally I and AI. first improving, also the first, ad year. challenges, think got had

Richard K. Howe

Yes.

just obviously, we the us suggested, we to getting that we So there, with shot from do and mark. get got we've think $XXX we tell we look I there it traction It know, the plan Brian, take you, million have we with just can that our how wrote believe year. planning we as that can that we think on but a we that doesn't good got I get pretty means we've well could got, at script when execute will, you this mean the customers with we we've in a seriously things today, the say can

you. I that's give So the That's best I what can believe.

Brian Kinstlinger

a one No, then understood. This will now. tougher be

another numbers say either. got that's And this to Why You've to super achieving not -- much when Or pushing increased agencies half your aren't this what's I performance? aren't they giving moment once I'm wouldn't adoption advertisers of much that you major so aren't see share we But problem. guess wallet more $XXX great is I'd why million growth, not the guess faster? product on? product that aggressively? stick second I aha an why it's in say be solved way, do see hockey going this ask

Richard K. Howe

growth. third. don't I'll okay? Brian, change, cost. asking. change. It's And one like is all thing to stick So the as One at take People one about there's X question that the primary reasons avoid for humans the hockey you're third that. the for is

reluctance aspect overcome of to So you the the have to then change change. and

change. there a helped forcing way catalysts As other about legislative when the past really in are started change, GDPR and privacy in to have consumer to case, catalyst, that now data are states I've people in Europe, legislation. California And it, XX have a Consumer that's but said it's in big Privacy along our Act

in legislation progress. The are reluctant to have is the or think, to going I states, to not. people change XX who whether Another change wanted occur

wait, what's may happening. which they is Now

out and waiting phase and and that eliminating start it in this this people jump mix to cookie they're year. into for lot the think I going January, are of Google did they to finally a saying they're

going waiting know, people answered or work. not change now. it's somebody and You this the second all to happening that accelerate to now, else to And the this." to use going issue going it's going to is relates is It's out with not I So this to incumbent. "Oh, that that do going I'm it's which are find on, the they to have because thought, and who been happen

about talking own this that, literally $XXX it script, right? As course, industry. built they they a I have They're have their entire market they to the million -- for they share not problem. year, this that our worldwide of stack are there consider that $XXX of have this my if a have the majority the they and There on of of said way hundreds hundreds a of tech are tell more solution we it. doing in We're clients that of compared right, companies, in companies billion old a -- to hurry don't obviously lot don't do

the starts covered. like, causes adopters because think And be well, we've have got didn't adequate or solution have all for this performance problem what just And late getting have. hopefully okay, that them to solution as the to decline problem, their so start we it pushes more is does to to demand an to because we'll clients a is that it a incumbents not

third hockey way growth I a So since notes, the not the quarterly for rate than us. better it point By X.X% terrible. in It's at QX should The said growing answers compounded thing. XXXX. better, terrible. been way, stick out, I That's that probably we my have but

Okay.

us. exciting Right, going next X hockey your So exciting to years, X on think the for and stick. X, be X, point really -- for years years us, but over. game yes, the really, important And years the are I get I is Brian? Because

Brian Kinstlinger

heard Actually, last I XX it right, have. question new had you I agencies.

added ran you and year, the you for -- think I

Richard K. Howe

Agencies and brands.

Brian Kinstlinger

those XX And I'm right. campaigns, that customers, I'm if if brands, right? I I not heard for and Agencies not think, you mistaken. sure had

Richard K. Howe

for campaigns how didn't we disclose no, won't year. we disclose many the XX. We disclosed that. ran did -- And for we many how campaigns had We the entire we

was it think wasn't XXX, I it.

Brian Kinstlinger

Okay.

the XX they've So started it. brands, I and -- new They that think change. to started see for would but agencies the

substantial customers X year in the it's add that drive share year you X Is right growth in So that would to wallet year way and about X. think it?

Richard K. Howe

a lose, with we It's when lose to so think because client the unless exactly -- working again, Yes. it. in it agency say agency lose, an -- it, client. I've That's we the client. before, I'll how how typically our we're do a call always lost said any almost it's we about brand client, this a rarely

expand. and land is strategy Our

we even the will agency small to right, if when those for up themselves going client continue XX, good chance us. forward sign there's an loses now, expand, unless yes, that they're So a

Operator

Aarde question Vander Jack next from Your Group. comes Maxim from

Jack Vander Aarde

growth because and I think momentum clarity to in left large was just considering million think Great Okay. agency about if it's of it correct, is but fourth year. point see the maybe annual the our of the out that back $X material half revenue. strong of end XXXX, in this for Rich, quarter I to customer important the or the customer the

exactly up client -- -- revenue out, that Is back your of I correct to seems it it. to about think revenue out nearly kind you like that is? year is it right adjust if If the that that full important almost is way point for it if the XXXX you think was to is which XX%, way

Richard K. Howe

saying, emphasized it half of client. Yes, And and lost why I which I it, by think that to the that what reason that's look to right we able examples, But good amount we it's not at that's plug backfilled we about you're And those the revenue, to think we why That we said you effectively, Brian, see exactly have agency we I an because way, is way second Jack. right? were a fact, just was that loss. feel one -- another that. -- of of in insignificant

I the way. it about you're thinking yes, so think right And

Jack Vander Aarde

in then well Okay. previous sense and quarters. just believe you to that maybe Great. feeling that, my kind point, it was guys' as or And further I of sense

your that kind that, still actual just that to growing of event you how wasn't isolated with clear, that working Are is actively and Following occurrence. be with agency? them? mean, And relationship I onetime

Richard K. Howe

Lesser.

Jack Vander Aarde

Lesser.

to -- in one just XX you brands Okay. signed and agency new XXXX. in customer then the speaking platform these And

outlook and Given about strong comments your pipeline. the

Just hoping those how to you are be those XXXX? could about little you And The that expand brands XX with a customers further. on likely in are agency expanding repeat agencies? how those customers and within -- brands, bit

Richard K. Howe

in customers And XXXX, expand. second, to year, be for XXXX likely to to this -- likely [indiscernible] and likely. yes, Very the very

Jack Vander Aarde

headcount. Okay. follow-up And I then got Great. just then. a the

and hire plan hiring, sounds continue to it to you been You've like more.

given How Or to and growth your to demand now? would you expecting? is the color demand the and sufficient you demand too you're your service which Just pipeline today? versus -- be kind good problem personnel like kind feel growth will any capacity today? helpful. right Just would of Or there much capacity pipeline do Is expectations, have? it of you balance -- a be have

Richard K. Howe

that grow as whenever scared you second would in half, the I you we're Well, the much say feeling not growth. strain as did strain. we of continued in the feel some we're sense But

way it. best maybe say to that's the So

the in we of about So utilization efficient the of has we potential company the think number high there's I we within revenue $XXX,XXX about comps. per but we run have, as is, that a technology number do pretty the technology doing employee. It's remember as what that's kind I can't run a resources kind to -- relative although still have. clearly

resources, significant and client-facing So said around may most go-to-market. there the for the scientists we're a components, be We be here and it really efficient data won't relative but more this will add we client-facing the number in part. we've all engineers before, that it to regard. If the add company

and Just account managers sales people. and campaign

Jack Vander Aarde

Okay. more lot apologize, I one a for caught kind then just And Great. missed it I comments. of me. but And your I

think it won down then customer large remarks against you that were a boiled prepared in deal. the your X and in you repeating talking you other off your competitors to Just eventually bake I the

color -- you that interaction the whole that long how then long guess? bottom and eventually kind why did potential how it through walk was me from And bigger -- line, took on initial those competitors it process were Just customers X won of discussions was process handful and that originally? how a kind who signing it, competitors I going long any of of Just take? to is to

Richard K. Howe

the X Yes, question. answer first is the months to

-- if I The environment, second like companies don't I question, Jack. incredibly name other this in we're these competitive

name at not they're know it then to even who going is. they've They know I them, point. this if lost may that So

they're they bigger means which are we a testament, which the considerably reluctant They're will frankly, beat than than to companies able out to that I around while. to is I'm our been resources tell and we to you much be quite bigger that. so And -- a technology have did. a more lot

Jack Vander Aarde

fair. to what I that anything disclose guess that's not size you competitors. was of the looking No, caliber for of what for totally I'm you looking shouldn't. that's was kind these I really

to it this a in of You're expect now which proof then -- going there of segmentation, you was that platforms just in kind technology had in it's and traction. definitely one David of terms is thing, segments, kind your X supporting is going of think a term? kind ramp parity? you're X looking to forward? just going crystal near Are at ball they terms revenues going expect term, ever the and opportunity and one outpace itself -- proving new how you or with Goliath these And Are forward, of the do going the more gaining other? story of here -- do long if these kind in to you do be about how How you to be they

Richard K. Howe

future, they parity. the In be should

us to expect surprise So overall in and an component could agency brand to the would platforms be mix. and the bigger are scale do by terms because faster. the default they state, a it of years some continue Albeit tend bigger, yes, I road, in I the to end think, down the part of mix

I hard to platform line. added we XXXX, They're for which potential in them, a We looking predict. of both good also relationship in is right? us. In the new bottom So is both see it's exciting now right said, really fact, like

Operator

it further no at time. are closing ahead. questions management for turn remarks. over go Please to this I'll There

Richard K. Howe

and everyone, on forward Sergio]. you appreciate call. look next for keeping you you, your And continued on to the we company, interest apprised Thank our of the us today joining [ call. thank We in the progress

Operator

for thank please We that Thank you. lines. concludes ask and conference your this gentlemen, and you your Ladies participating disconnect call for you today.

Inuvo (INUV) 29 Feb 242023 Q4 Earnings call transcript