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CONWAY, AR -- (Marketwired) -- 07/29/15 -- Inuvo, Inc. (NYSE MKT: INUV), an advertising technology and digital publishing company, today announced revenues of $16.7 million in the second quarter of 2015 compared to $10.9 million in the same quarter last year, a 53% increase. Net income in the second quarter of 2015 was $445,000 or $0.02 per diluted share compared to $382,000 or $0.02 per diluted share in the same quarter of 2014. For the first half of 2015, revenue was $30.1 million, a 43% increase over the first half of last year. Net income for the first half of 2015 was $1,071,000 or $0.04 per diluted share compared to $1,057,000 or $0.04 per diluted share in the same period last year.

"We are pleased to report a third consecutive quarter of strong year-over-year growth and a seventh consecutive quarter of profitability," stated Rich Howe, Chairman and CEO of Inuvo. "We are making and will continue to make the necessary investments to capture market share in support of growth. While both segments experienced strong growth in the quarter, the Partner Network benefited from an uncharacteristically strong spring, the result of strong advertiser demand in Automotive that is likely to normalize in the second half of the year. We remain poised to deliver on the potential of the SearchLinks Native Advertising solution and committed to increasing user engagement within the ALOT sites."

Second Quarter 2015 Highlights

• Revenue was $16.7 million, 53% ahead of the second quarter 2014 revenue of $10.9 million.
  • Partner revenue was $9.3 million, 67% ahead of the second quarter 2014 Partner revenue of $5.6 million.
  • Owned & Operated revenue was $7.4 million, 39% ahead of the second quarter 2014 Owned & Operated revenue of $5.4 million.
• Net income was $445,000 or $0.02 per diluted share, 16% ahead of the second quarter of 2014.
• Adjusted EBITDA, a non-GAAP measure, was $1.1 million.

First Half 2015 Highlights

• Revenue was $30.1 million, 43% ahead of the first half 2014 revenue of $21.1 million.
  • Partner revenue was $16.9 million, 53% ahead of the first half 2014 Partner revenue of $11.0 million.
  • Owned & Operated revenue was $13.3 million, 32% ahead of the first half 2014 Owned & Operated revenue of $10.0 million.
• Net income was $1,071,000 or $0.04 per diluted share, largely unchanged from the first half of 2014.
• Adjusted EBITDA, a non-GAAP measure, was $1.8 million.
• Debt decreased to $1.5 million at June 30, 2015 compared to $3.6 million at December 31, 2014.

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

Three-month financial results for the period ended June 30, 2015
Net revenues for the three months ended June 30, 2015, were $16.7 million as compared to $10.9 million for the three months ended June 30, 2014. Revenue in our Partner Network was $9.3 million in the second quarter of 2015 compared to $5.6 million in the same quarter last year and is reflective of the growth in this segment. Revenue in our Owned and Operated Network was $7.4 million in the second quarter of 2015 compared to $5.4 million in the same quarter last year and is the result of expansion across the sites both existing and new. Operating expenses increased from $5.8 million in the second quarter of 2014 to $9.1 million in the same quarter this year, comprised notably of increased marketing and compensation expenses.

For the quarter ended June 30, 2015, Net Income was $445,000 or $0.02 per diluted share compared to $382,000, or $0.02 per diluted share, for the three months ended June 30, 2014.

For the quarter ended June 30, 2015, Adjusted EBITDA, a non-GAAP measure, was $1.1 million compared to $1.2 million in the second quarter of 2014.

Balance Sheet as of June 30, 2015
Cash and cash equivalents totaled $3.8 million at June 30, 2015. Current assets and total assets were $10.4 million and $27.4 million, respectively, and current liabilities and total liabilities were $13.2 million and $18.2 million, respectively, as of June 30, 2015. Bank debt was reduced to $1.5 million from $3.6 million at December 31, 2014. Stockholders' equity was approximately $9.2 million at June 30, 2015.

Conference Call Information
Date: Wednesday, July 29, 2015
Time: 4:15 p.m. EDT
Domestic Dial-in number: 1-888-503-8175
International Dial-in number: 1-719-325-2463
Live webcast: http://public.viavid.com/index.php?id=115448

In addition, the call will be webcast on the Investor Relations section of the Company's website at http://investor.inuvo.com/events_and_presentations where it will also be archived for 45 days. A telephone replay will be available through Saturday, September 12, 2015. To access the replay, please dial 1-877-870-5176 (domestic) or 1-858-384-5517 (international). At the system prompt, enter the code 1503372 followed by the # sign. You will then be prompted for your name, company and phone number. Playback will then automatically begin.

About Inuvo, Inc.
Inuvo®, Inc. (NYSE MKT: INUV) is an advertising technology and digital publishing business that serves billions of income generating ads monthly across a network of websites and apps serving desktop, tablet and mobile devices. To learn more about Inuvo, please visit www.inuvo.com or download our app at http://apple.co/1glLIGD for Apple iPhone or http://bit.ly/1G5f3K4 for Android.

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

These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to our lack of profitable operating history, changes in our business, potential need for additional capital, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet, all as set forth in our Annual Report on Form 10-K for the year ended December 31, 2014. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo and are difficult to predict. Inuvo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

                                 INUVO, INC.
                    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                  (Unaudited)
                                                    June 30,    December 31,
                                                      2015          2014
                                                 ------------- -------------
Assets
Current assets
  Cash                                           $   3,779,339 $   3,714,525
  Accounts receivable, net                           6,348,993     5,106,300
  Unbilled revenue                                      29,038        23,541
  Prepaid expenses and other current assets            286,577       299,873
                                                 ------------- -------------
Total current assets                                10,443,947     9,144,239

Property and equipment, net                          1,201,858       959,475
Goodwill                                             5,760,808     5,760,808
Intangible assets, net                               9,789,539     9,530,322
Other assets                                           210,050       211,833
                                                 ------------- -------------
Total assets                                     $  27,406,202 $  25,606,677
                                                 ============= =============

Liabilities and Stockholders' Equity
Current liabilities
  Accounts payable                               $   8,368,632 $   5,714,158
  Accrued expenses and other current liabilities     4,175,373     3,704,464
  Term and credit notes payable, current portion       666,667       959,942
                                                 ------------- -------------
Total current liabilities                           13,210,672    10,378,564

Deferred tax liability                               3,552,500     3,552,500
Term and credit notes payable, long term               833,334     2,666,667
Other long-term liabilities                            581,052       735,211
                                                 ------------- -------------
Total liabilities                                   18,177,558    17,332,942

Total stockholders' equity                           9,228,644     8,273,735
                                                 ------------- -------------
Total liabilities and stockholders' equity       $  27,406,202 $  25,606,677
                                                 ============= =============



                                INUVO, INC.
              CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

                                (Unaudited)
                            Three Months Ended         Six Months Ended
                           June 30,     June 30,     June 30,     June 30,
                             2015         2014         2015         2014
                         -----------  -----------  -----------  -----------
Net revenue              $16,727,810  $10,942,033  $30,148,757  $21,063,750
Cost of revenue            7,092,744    4,666,175   13,161,963    8,342,930
                         -----------  -----------  -----------  -----------
Gross profit               9,635,066    6,275,858   16,986,794   12,720,820
Operating expenses
  Marketing costs          6,583,262    3,614,598   11,505,408    7,278,285
  Compensation             1,341,453    1,139,095    2,532,510    2,239,010
  Selling, general and
   administrative          1,178,539    1,054,355    2,166,305    2,064,964
                         -----------  -----------  -----------  -----------
Total operating expenses   9,103,254    5,808,048   16,204,223   11,582,259
                         -----------  -----------  -----------  -----------
Operating income             531,812      467,810      782,571    1,138,561
Interest expense, net        (37,412)    (103,301)     (88,573)    (201,103)
                         -----------  -----------  -----------  -----------
Net income from
 continuing operations
 before taxes                494,400      364,509      693,998      937,458
Income tax (expense)
 benefit                     (34,700)           -      371,753       75,698
                         -----------  -----------  -----------  -----------
Net income from
 continuing operations       459,700      364,509    1,065,751    1,013,156
Net income (loss) from
 discontinued operations     (14,692)      17,782        5,567       43,894
                         -----------  -----------  -----------  -----------
Net income                   445,008      382,291    1,071,318    1,057,050
                         -----------  -----------  -----------  -----------
Total comprehensive
 income                  $   445,008  $   382,291  $ 1,071,318  $ 1,057,050
                         ===========  ===========  ===========  ===========
Earnings per share,
 basic and diluted
  From continuing
   operations            $      0.02  $      0.02  $      0.04  $      0.04
  From discontinued
   operations                     .-           .-            -            -
                         ===========  ===========  ===========  ===========
Net income               $      0.02  $      0.02  $      0.04  $      0.04
                         ===========  ===========  ===========  ===========
Weighted average shares
 outstanding
  Basic                   24,268,364   23,445,771   24,178,037   23,480,956
  Diluted                 24,689,110   24,050,239   24,432,837   23,936,241

By Segment (Unaudited):
Net revenue
  Partner Network        $ 9,284,038  $ 5,569,504  $16,857,418  $11,021,121
  Owned and Operated
   Network                 7,443,772    5,372,529   13,291,339   10,042,629
                         -----------  -----------  -----------  -----------
    Total                $16,727,810  $10,942,033  $30,148,757  $21,063,750
                         ===========  ===========  ===========  ===========
Gross profit
  Partner Network        $ 2,209,021  $   959,197  $ 3,729,916  $ 2,817,601
  Owned and Operated
   Network                 7,426,045    5,316,661   13,256,878    9,903,219
                         -----------  -----------  -----------  -----------
    Total                $ 9,635,066  $ 6,275,858  $16,986,794  $12,720,820
                         ===========  ===========  ===========  ===========



                                 INUVO, INC.
   RECONCILIATION OF NET INCOME FROM CONTINUING OPERATIONS BEFORE TAXES TO
                               ADJUSTED EBITDA
                                 (Unaudited)

                                   Three Months Ended     Six Months Ended
                                  June 30,   June 30,   June 30,   June 30,
                                    2015       2014       2015       2014
                                 ---------- ---------- ---------- ----------
Net income from continuing
 operations before taxes         $  494,400 $  364,509 $  693,998    937,458
Interest expense, net                37,412    103,301     88,573    201,103
Depreciation                        214,046    243,335    386,428    499,307
Amortization                        258,156    198,501    456,657    397,002
Stock-based compensation             82,750    248,382    134,674    378,830
Severances and other non-
 recurring, non-cash items               --     36,145         --    117,943

                                 ---------- ---------- ---------- ----------
Adjusted EBITDA                  $1,086,764 $1,194,173 $1,760,330 $2,531,643
                                 ========== ========== ========== ==========

Reconciliation of Net Loss from Continuing Operations before Taxes to Adjusted EBITDA

In addition to disclosing financial results in accordance with United States generally accepted accounting principles ("GAAP"), our earnings release contains the non-GAAP financial measure "Adjusted EBITDA."

Adjusted EBITDA is not a measure of performance defined in accordance with GAAP. However, management believes that Adjusted EBITDA is useful to investors in evaluating the Company's performance because Adjusted EBITDA is a commonly used financial analysis tool for measuring and comparing companies in the Company's industry in areas of operating performance.

Management believes that the disclosure of Adjusted EBITDA offers an additional view of the Company's operations that, when coupled with the GAAP results and the reconciliation to GAAP net loss, provides a more complete understanding of the Company's results of operations and the factors and trends affecting the Company's business.

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