Q3 2025 Inuvo Inc Earnings Call
Good day, ladies and gentlemen, and welcome to the annual Inuvo, Inc. third quarter 2025 earnings call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session.
Any time during this call will require immediate assistance. Please press *0 for the operator. This call is being recorded on Thursday, November 6th, 2025.
I would now like to turn the conference over to Katie Cooper, Director of Marketing. Please go ahead.
Thank you, operator, and good afternoon. I'd like to thank everyone for joining us today for the yuvo third quarter. 2025 shareholder update, call today anova's chief executive officer, Richard how Chief Financial Officer while we and Chief Operating Officer, Rob Butner will be your presenters on the call. We would also like to remind our shareholders that we plan to file our 10 Q with the Securities and Exchange Commission. This evening before we begin, I'm going to review the company Safe Harbor statements, the statements in this conference call that are not descriptions of historical facts. Our forward-looking statements relating to future events. And as such All 4 were looking statements are made pursuant to the Securities. Litigation Reform, Act of 1995. These forward-looking statements are subject to risk. And uncertainties, and actual results May differ materially when
Used in this. Call the words anticipate could enable estimate intend expect. Believe potential will should project and similar Expressions as they relate to a newvo Inc, are as such a forward-looking statement, investors are cautioned that all forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those anticipated by a Novo at this time. In addition, other risks are more fully described in a novo's public filings with the US Security and Exchange Commission which can be reviewed at www.sec.gov. The company makes no commitment to disclose any revisions to forward-looking statements, or any facts events or circumstances after the date hereof that bear upon forward-looking statements.
In addition, today's discussion will include references to non-GAAP measures. The company believes that such information provides an additional measurement and consistent historical comparison of its performance. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is available in today's news release on our website. With that, I'll now turn the call over to CEO Richard Howe.
Thank you, Katie, and good afternoon, everyone. For the third quarter of 2025, Inuvo delivered $22.6 million in revenue, roughly flat year-over-year. For the first nine months of the year, Inuvo has delivered $71.9 million in revenue.
We're pleased to report a strong 25% year-over-year growth through the first 9 months.
Instead, Q3 results fell short of our expectations.
Primarily due to a deliberate reduction in advertising spans starting in mid-August.
This step was essential to align with updated requirements from our largest platform client, enabling us to sustain and scale our partnership longer term.
A move we had previewed earlier.
October revenue within the platform was back up year-over-year.
I will talk more about these products and technological advances later in my comments.
Therefore, we experienced a roughly 5% decline sequentially in platforms and roughly 29% sequential growth within agencies and brands.
Both platforms, agencies, and brands are up year-over-year through the first nine months of 2025.
We will discuss the financials in greater detail during his section.
We have two notable items to share with you related to the business on this call. First,
We've been working on a multi-million dollar contract with a government organization, where the government shutdown has delayed the signing.
I highlight this deal because it's a prime example of the larger opportunities we will be pursuing.
Rob Buckner, who I will introduce, will speak in a few minutes. We'll talk about this during his remarks.
Additionally, we have been a party to a large class action lawsuit that has now been settled.
According to the attorneys representing the class and the verifiable claims we have.
We expect a substantial payout in the first quarter of 2026.
We remain optimistic about achieving our Revenue goals for 2025, and want to reiterate. That q3's performance was not a function of reduced demand, but rather additional preparation required to on board demand.
Our largest intent. Key clients, 2025, final budgets are now locked in based on those budgets.
Um, our top five clients are expected to have grown over 65% year-over-year by the end of calendar 2025.
I'd like to mention that we recently hired a Chief Operating Officer.
Rob Buckner brings to Inuvo a successful career as a CMO, a CEO, and an entrepreneur.
With his history. As a dealmaker, Rob, is uniquely positioned to help a newvo monetize. The industry-leading adtech products.
We have built, at this critical stage of our evolution.
Rob joined Inuvo 10 months ago.
Progressing from go to market consultant.
To a board member and now Chief Operating Officer, he can now have an even bigger impact on the company.
Let me now turn the call over to Rob for a go-to-market and client activities discussion.
Thanks, Rich, and uh, hello everyone.
I want to start by Framing the immediate growth opportunities for intent key product.
Driven by my broad view of the ad industry at this critical moment in ad tech.
I bring up a unique perspective to a newo.
Having enjoyed a far-reaching career in what I call the creative sciences.
That being the co-mingling of brand content.
Emerging media technologies, real-time data, and analytics.
I've organized business units around this operating model at 2 national agencies.
Within two of the world's largest holding companies,
publish this in, ipg
As CEO at Campbell, Methone, I commissioned a programmatic trading arm in 2013.
Years ago, most agencies knew of its significance.
Today.
Programmatic is a hundred billion-dollar marketplace.
And I intend to marshal my business development skills and leverage existing C-suite relationships. In this new role,
The marketers I speak with aren't just confused.
They suffer from AI fatigue. It's understandable.
The market is saturated with antiquated ad tech wrapping inferior, often cookie-dependent data around general AI, with little to no positive effect.
The ad tech landscape is experiencing seismic shifts and structural failure.
The legacy programmatic spine is breaking.
Not just due to cookie dependency, but from the fatal design flaws of late data latency and signal loss.
Stocking people around the internet.
Is not the future.
Intent. Key is the antidote for this privacy. First post-cookie environment,
Our go-to-market is shipping.
Decisively Upstream.
XO.
Inside brand organizations, leaders who control budgets?
And are snared by diminishing returns in performance marketing.
The intent, key value story resonates most clearly with senior executives, who have branding authority and are directly accountable for business results.
The very decision makers.
Who have historically been a challenge to reach.
Case in point.
Depending on a government contract, which was a direct result of Tim Flynn, retired Admiral of the U.S. Navy and former executive at Intel.
Who has joined our team and advisory role?
We have others like Tim.
Who have had brilliant careers in our trusted executives. Now, partnering with Inuvo to actively unlock access to the SEA suite and accelerate enterprise adoption.
I see this as a strategic means to securing significant future enterprise deals.
We are actively structuring brand direct deal terms to accelerate this high-value growth and upskilling our account management organization to capitalize on growth within the existing accounts.
As of the end of the third quarter, we now have 44 self-service brands, including companies like Kia, Apple, Crate and Barrel.
Pb2s brand.
And others.
Critically, we will continue to aggressively scale self-service deals, in part because it's the easiest way for clients to use our AI. And because this component of our business generates margins of nearly 90%.
Furthermore, our predictive mixed media modeling.
Is an undervalued asset.
It is a critical, high-margin solution for brand stewards.
And natural on-ramp.
For the broader intent key, deployments.
Integration of intent, Keith, through partnerships is another area of emphasis.
We are actively pursuing holding companies, adjacent, add texts, and commerce media players.
We expect success on this front, which will generate significant high-margin revenue in 2026.
Our managed services business remains robust.
We added several new brands in Q3, including a major health care provider who recognized intense keys targeting leverage for open enrollment this fall.
And finally, we're elevating our marketing efforts around two key objectives.
First, sharpening our value proposition by highlighting a predictive edge.
Our platform forecasts purchase intent 24 hours ahead of legacy programmatic tools.
This delivers a clear, measurable advantage that sets us apart.
Second, we're showcasing a more intuitive user experience by integrating across all sales and marketing channels, thereby boosting awareness and easing adoption.
Rich will dive deeper into this. Enhanced intent key during his products and Technology sessions.
My goal.
Is to take what are the most Innovative and performative products in adtech and scale them to the next level.
I was recently reviewing an independent analysis of performance within 1 of our largest clients.
This study concluded that inuvo had achieved 20 to 40% higher efficiency compared to Legacy idea-based Solutions.
And a staggering incremental return of 400 to 600% across connected TV and display advertising.
Thanks to a great product and a sharpened go-to-market strategy, our current pipeline already features a number of high-profile brands that represent substantial future potential.
And with that, let me now turn it back over to Rich to discuss products and technology activities.
Thank you, Rob. As I mentioned in my opening remarks, our platform business maintained stable performance in Q3. While the focus shifted briefly to prioritizing advertising compliance and quality, the operations team actually took this opportunity to expand the network through a mix of new site additions and improved engagement across our existing network.
This will help us safely fulfill the backlog of demand that is growing within the platform's product line.
A strategic advantage. This platform client has now implemented more stringent policies that reward trusted, high-quality suppliers.
Exactly the standard Inuvo was built to exceed.
Our consistent investment in quality has positioned us not just to benefit from this shift.
But to help define it, and this was evident in our ability to implement complex technical changes that quickly met the needs of this client.
And that brings me to a critical innovation we have introduced within platforms, which we have now called Ranger.
Ranger Ranger is a next-generation compliance and quality capability embedded within our platform solution.
It leverages Advanced AI to ensure every ad creative we deliver is aligned with the post-click experience.
In a market where generative AI has drastically accelerated the speed and volume of ad production, this alignment has become more difficult and more essential than ever.
Whether it's a headline or an image, or a video Ranger analyzes the creative content and Compares it to the landing page, the media asset. It's promoting validating that the message is accurate and aligned.
This protects the user, The Advertiser and our client.
it prevents misleading content from slipping through and gives our clients full confidence that the ads and Nouveau is serving exceeds policy standards and more importantly,
The consumer's expectations.
Let me, let me be clear. Ranger was purpose-built to combat 1 of the fastest growing threats in digital advertising creative and media misalignment that can lead often inadvertently to fraud.
And it's working.
Today, we use Ranger internally to safeguard our own campaigns, but it's broader application is substantial, add buying platforms networks. And major brands are increasingly in need of real-time assurance.
That their creative assets won't be flagged, penalized, or Worse, cause harm to their brand reputation.
the future of advertising demands trust and it demands alignment between message and experience and it demands that AI, not just automate but it accounts
With Ranger now deployed within platforms.
We have both product lines supported by sophisticated artificial intelligence, that aligns around a simple premise.
But the reasons why people are interested in the ads, should align with the reasons, why audience can audiences consume content within which the ads are shown
Ranger is already opening new platform opportunities, recently, we co-hosted a joint webinar with Tik tok's product policy and go to market teams that has already resulted in over 15 New Media, buying leads.
In the third quarter, we also continue to advance the technologies that power the intent key, and our agencies and Brands product line.
And in so doing, we have reinforced our newest position as the market leader for proprietary large language generative AI, purpose-built for advertising.
We recently launched a completely redesigned audience. Discovery portal that further, cements our leadership in this AI, powered add technology.
We now provide next day, predictive indicators for audience size and sentiment Trends. Offering clients early signals on likely audience intent shifts.
We have a new trending geographical map, which visualizes emerging consumer intent, across the top 10 US states.
Supporting geographically. Informed, creative and media decisions.
We also completely reimagined how a consumer's intent changes as they Journey from passive interest.
Through active considerations. And, furthermore, we introduced a multi-segment audience modeling where the intent can now automatically generate up to 3 unique audience, subgroups
Individual summaries and performance percentages.
And finally, we enriched our demographic. Insights by retraining our AI on the latest US Census Data and once again,
in an industry first, uh, we have aligned this data, not with people, but rather with Concepts
and in the process have made our proprietary intent, key signals even more powerful.
For agencies and brand clients are campaign performance metric. Came in at 45% above average client kpis within the quarter.
And while agencies' and brands' margins declined slightly, this was a result of the scaling of our largest services clients. As I mentioned in my opening remarks,
The strategic foundation we've laid is paying off; the self-serve business continues to gain momentum.
Of our AI.
And at this time, I would now like to turn the call over to Wally for a more detailed assessment of our financial performance within the quarter.
Thank you, rich.
Good afternoon, everyone, and thank you for joining us today.
I'm pleased to share our financial results for the third quarter of 2025.
Revenue for the quarter was 22.6 Million. Representing a 1% increase year-over-year?
Growth was driven by increased demand from our agencies and brand clients.
Platt, platform Revenue was 18.7 Million down from 18.8 Million last year.
as Rich previously mentioned, we slowed the scaling of our largest platform client during the quarter to complete the development required, by the client,
However, partially offsetting this decline, our second-largest platform client continues to ramp up the new campaign introduced in the fourth quarter of last year, which yielded a four-fold increase in revenue.
Revenue revenue from agencies and Brands totaled, approximately 3.9 million for the quarter a 7% increase over last year.
We onboarded 23 new clients in the third quarter as mentioned, and we now have 44 clients using ourselves service products.
These self-service clients represent future growth potential with the benefit of being our. Highest margin product offering
Costs of Revenue increased to $6 million up from 2.6 million in the third quarter of last year.
This was by the new campaign with the platform client that I just mentioned.
Unlike other platform clients where the cost is reported as a marketing cost. The campaign with this client is accounted for as a cost of Revenue.
our cost of Revenue is is primarily payments to website, Publishers and app developers who hosts our ads as well as media costs for our agencies and Brands clients,
Gross profit was 16.6 million compared to 19.8 million in the same quarter last year.
Gross margin declined to 73.4% from 88.4%, which was anticipated due to the accounting required for the new campaign that I had previously mentioned.
Operating expenses total 18.2 million down 16% year-over-year.
In expense was 3.6 million to lower marketing costs associated with lower revenue from our largest platform clients.
Compensation expense increased by $39,000 in this year's quarter compared to last year, primarily due to a reclassification of separation expense to separation expense this year.
That count remains stable at 80 employees at quarter end versus 82 at year at quarter end a year ago.
General and administrative expenses increased by 110,000, largely due to the absence of a hundred thousand dollar allowance reversal recorded in the third quarter of last year.
Other income was 48,000 compared to zero in the same period last year and that financing expense was 114,000 compared to 10100 a year ago.
Adjusted IBA was a loss of 670,000 compared to a loss of 357,000 in the third quarter of last year.
Net loss, narrowed to 1.7 million or 12 cents per share versus a loss of million dollars or 15 cents per share a year ago.
We ended the quarter with 3.4 million in cash and cash, equivalents.
The same amount was was drawn down from our 10 million line of credit.
With the available borrowing capacity. We have we believe we have ample flexibility for continued investment and support of our operational needs.
With that. I'd like to turn the call back over to Rich.
To complete a major compliance upgrade. Um, including the launch of Ranger, our new AI driven, add quality system. Uh, this investment strengthens our foundation and positions us for sustained. Scalable growth.
Operationally, we're shifting Upstream targeting larger brand direct deals. While continuing to scale our high margins self-serve intent. Keep product. Now, used by Major Brands, we're seeing increased adoption of our predictive media mix modeling, which is becoming a key entry point for a broader intent. Key engagement and we completed a series of enhancements to the self-serve portal.
Despite the pause and platform growth, uh, demand range strong, our top 5 agency, and brand clients are projected to grow over 65% this year.
And we have a major government contract delayed, but pending and we expect the cash payout in q1 2026 with related to a settled class action lawsuit. We remain optimistic on achieving, our 2025 goals, and we are building real separation in a transforming adtech Market.
I will now turn the call over to the operator for questions, operator.
Thank you, ladies and gentlemen. We will now begin the question and answer session. To ask a question, please press star and 1 on your touchtone phone. If you are using a speakerphone, please lift your handset before pressing the keys to withdraw your question. You may also press the pound key. Thank you.
Our first question comes from the line of Scott, Buck from HC. We write your line is open.
Hi. Good afternoon guys. Thanks for taking my my questions Rich. I'm curious. When you on board 23, new clients in in the quarter
Do they immediately start generating revenue? Or is there typically a 30 60, you know, X day lag? Before you start to see like a, a real ramp
Yeah, it's it's they get on pretty quickly and they start spending but it's typically small amounts got, so they're sort of testing the, the wires I guess and the plumbing and seeing how it works and then and then you see it ramp. And then they start spending more, and they start spending more and they start spending more. This is a self-serve. I'm talking about now because the bulk of the you know the clients that we sign. Um in that 23, number were self-served clients.
Yep. So there's a, a cumulative effect. I guess to, um,
To how the revenue ramps. Okay. Yeah, I think, you know, they're trying to compare us to other tactics they're deploying and seeing, you know, how well it works. So they ease into it.
Yeah. No, that makes a makes a ton of sense on on self-service. You're up to 44.
Clients there. I'm curious you know as that business is scaling which feedback you're getting from those clients and whether or not it's you know changing the way that you go and Market the product to you know, new brands or agencies.
It is changing the way that we're we we're building the product and, and marketing it. Um, and and, you know, 1 of the statements I made, in this call, is we you know, did a, a complete overhaul of the interface, to the self-serve portal. Um, and and in part, that's, you know, as a result of feedback feedback, like some things are a little harder to use than, than clients would want they, you know, efficiencies more data. So, yeah, we, we definitely use that feedback loop to to, um, both
improve the product and to change the way we Market, if you will and go to market and our messaging for go to market,
Perfect. And then last 1, uh we I would assume that
Doesn't marketing expense has kind of moving back to, um, you know, kind of previous run rate here in the fourth quarter from the, the dip in the third quarter, is that fair?
uh, yeah, it it should, it should start moving up in, in relation in, you know, direct relation to, uh, uh, platform Revenue, uh, ramping up
Yeah okay. Just want to make sure it was it was temporary and not a you know, more permanent change.
Uh, no. Um
Great. I I appreciate the added color, guys. Thank you very much for the time.
Thank you, Scott.
Our next question comes from the line of Brian King, Slinger from Alliance Globe Partners. Your line is open.
Great. Thanks so much.
A new bow was well ahead of the market in identifying, I believe the need for AI for targeted. Adtech to drive Improvement in campaign outcomes.
And more than ever Enterprises are looking for ways. They can utilize AI.
In my sense is brand, awareness Remains the biggest challenge for a new vo. So, I'm curious how Rob and his new role is thinking about
And what do you think held back greater adoption of intent key?
You know, all Healthcare are targeting the same blocks of people, but we're able to find the nuances. We're able to find them in real time and we're able to activate our Buys. So taking those use cases forward to create momentum for the brand, and additional adoption is going to be critical.
Great. And and maybe Wall-E or Rich, can you talk about the advertising and marketing? Budgets? What they look like maybe in 25 and how you're thinking about 2026?
I think that's you. We
An expense question. Yeah, I'm just curious. You know how much the company spending on getting its name out there and brand awareness? Oh oh oh oh oh, that's a different question. Um actually you know, Rob's on the phone he he's he's got marketing now you might want to talk about that Rob and what you're planning for marketing.
Yeah. So
Yeah. So
The.
The tried and trued way is to is through thought leadership, right?
Um, this is a very concentrated, um, group of marketers and the programmatic space,
So attending these conferences.
Coming out with a point of view, making sure people understand the advantages be of the other add texts right now. And stepping outside the noise of
Of the categories, really important. So we will be, um, promoting ourselves in the right places. Um, we're going to leverage some of our key players who are developing, um, really a big social footprint. We've got some individuals on our team, um, that are really leading the conversation in the industry. Um, so not necessarily ad budgets.
To promote bill. That's on the table as we go. Ironically, we're going through some budgeting um
At an off-site next week. So, um,
We're going to step up our visibility.
and all the marketing materials that we're going to Market with will be pulling out of, uh,
The user experience and the data visualization tools that we have on the interface are very distinct. So, we're repackaging our story, I guess is what I'm saying.
Great, it's helpful.
and then,
You mentioned Rich that your largest platform provider is going to reward based on performance. Can you expand a little bit on that? Are they going to evaluate distribution or uh annually quarterly and redistribute? How are you thinking about that?
um,
So we're not sure yet because it hasn't been made clear to us exactly how this is going to play out. Um, but what I will tell you is
As you well know, Brian. I mean, we you know, we really did design for changes
You know, that are in the marketplace and this particular client.
Has very much.
accelerated, um, their desire to make sure that any add, um, that comes
you know, from 1 of their clients is um has a high quality, high quality of both in the ad itself and in the place of the ads, going to be shown
and uh,
Um, going forward with them, you know, contractually that we may see some benefit.
To.
The quality. This is this is not atypical, by the way. So, you know, I know it sounds like a long drawn out answer, but this happens, you know, and it's happened to us in with other larger clients where there's a reward if you will in terms of your take,
you know, when the when the quality standard which gets measured, you know, is higher. So we expect that to happen here because it seems to be heading in that direction and and and if I could just add something on a as a trailer to the question you asked Rob, uh, because I didn't I don't want it to be missed by, you know, shareholders who are listening. We really have changed the way we're going to Market, you know, up up until Rob's arrival, we were for the most part chasing, you know, mid tier agencies. Um, and we just found that those deals were too small, you know? And, and, and it was hard, um, they're still clients by the way, and we will still chase that, but but Rob is, you know, UPS upscaled us, you know, quite quickly, um, in terms of our focus and and I and he talked about, you know, you know, Tim Flynn, you know, the former rear Admiral, but this is probably the best, the best marketing you can do is to, to, you know, align yourself with people who have credibility in our, you know, have relationships. That's the way we get in to the corner office of larger deals and, and it's proving to be true, and it's working, um, at least with the, you know, with the
Or short number of them that we have and have started now.
I didn't want to miss that Brian.
I'm going to ask 1 more question that back in the queue because I have a few more so there might be some others. Can you you mentioned a class action payout in the first quarter? Can you quantify what that is?
I specifically didn't, um, I just said it was significant. Um, so it'll be in the millions, um, you know, and, you know, so I, yeah, I think I'll leave it at that. Let's just say it's been settled, you know. So that's the good news. It's been settled, and we are aware of what our claims are. And that we have been told we will get them paid out. And maybe I'll add one other piece of information, which is, you know, the last time we spoke to, um, the people responsible for administering these things, you know, they said that the payouts would probably start in...
Late late this year so you know, sometime in December or you know, in January. So that's why I said, you know, in the first quarter because it at this point that's got it. That's the best I can tell you. Yeah, I I'm going to sneak 1 last 1 in, so I don't have to get back in the queue. The
The business clearly and the industry is always seasonal. Is there anything in this fourth quarter that makes it more or less seasonally strong than typical and those are all my questions. Thanks.
I don't think we're seeing any systemic seasonality differences year-over-year.
From Maximum group, your line is open.
Okay great. Uh thanks for taking my questions, rich. I joined a little late to busy busy night tonight and earnings. But um to avoid asking any repeats um you've been an innovator, your whole career um in in with the you know a true differentiated AI technology like in 10k, that mimics the human brain. As, you know, figures out the why there's a lot of unique opportunities out there for the technology Beyond just adtech.
I would love to get your potential out of the box ideas whether they're just just an idea, 1 night or whether they're you know, actually maybe potentially formalized. Uh are there any opportunities you see that are emerging today to expand the use case of a 10 key? As is to a another Market that no 1's thinking about like maybe predictions in sports betting, uh, that's been that's been a huge hot spot and then maybe growing layoffs from the government shutdowns. Uh, you use your technology before for, you know, hiring obscure or help helping hire jobs that maybe are difficult to find.
The right kind of employee any out of the box ideas that we're not thinking about that. You are
Yeah. Well some of them were already doing. Um and in fact the government contract you you know that I referenced is 1 where we're actually finding hard to find employees so I'll leave it at that. All right. So yes there's lots of them and some of them are already deploying. Um we try to stick right now though, Jack to our bread and butter. I mean we are in advertising.
From the information, the AI generates about products and services and have that just happen automatically, you know, within our platform. So yes, there's lots of these, you know, I could probably there's there's a list of them but we we but at this point,
You know, our Focus remains we're in a gigantic Market, they spend a lot of money there. It change takes time with large industries that have lots of suppliers who are, you know, hanging on for dear life. Um, so we're, you know, we're trying not to get too far or skew and start something else.
So maybe the innovator in me is trying to hold a little bit. We we've got more than enough Innovation. We, we literally have the best technology in this area. So let's keep building on that. And go get that market.
Got it. Nope, that makes that makes tons of sense, but I'm not sure if you've seen the news with Kelsey and Paulie market and, and, and the space, it's creating quite a buzz. And I think you've you have a unique technology with predictions essentially. Um, that kind of map out the decision-making process. Just interesting food for thought, maybe, just 1 more and, and and not to uh, try to pin you into another question about something that you're not doing currently, but just digital assets. Cryptocurrencies nfts is, is this, and is this anywhere on your guys's radar? Um, do you have any comments on the space? So you're looking at it. Um, just love to get your thoughts there.
I I I say only, uh, in a cursory way. So, you know, of course, we're interested in what's going on there and we're following it um,
But no, there's nothing on paper that we've laid out and said, hey, here's a, a solution to this or some structure that we should put in place to go after this at this point. Jack
Okay, great. And I, and I heard about the, uh, the legal, um, when and obviously your your your you just talked about that with another analyst, I'll probably follow up with that at another time but, uh, that sounds interesting as well. Thanks guys, I appreciate it. You bet.
Our next question comes from the line of John Hickman from Ladenburg. Your line is open.
Hey Rich. I just have 2 questions.
So this, uh, payout that you...
Referenced that is money. You're receiving not money that you have to.
Pay in penalties.
Correct.
Yeah, we are a plaintiff to the class entry, so the money is being paid to us. Okay, okay, okay, okay, okay great. Um Had Me Like
Service there for a minute and then asking that and pay somebody else got confused by it. So yeah, um,
so, you know, in your prepared remarks, you mentioned that
You're um, on track with your Revenue goals.
Can you elaborate on that comment?
The revenue goal that I thought you had was 100 million for this year.
is, is that accurate or
Like, yeah, we're trying. Yeah.
yeah, I mean, I think the the best way to answer this question is um, you know, we we do have a 25%, you know,
um,
growth rate through the 9 months, right? So, you know, I mean, we'd very much like to, you know, continue, you know, with that and and we think that'll get us to our goal.
Well, that
That pretends a fairly large, uh, Q4.
I mean.
Greater than anything you've ever done.
Well, if you want to add anything on that well, you know, you know? Yeah, you know, John um if you look at our trailing 12 months where at 98 million, right? So yeah, I mean, we expect, you know, we expect Q4 to be our our best quarter.
so, so it's look without giving any guidance it does look like it's, you know, it's possible to do so
Yeah, there we go.
Okay. Thanks. That's it for me.
There are no questions at this time. I would like to hand the call back to Mr. How please go ahead, sir.
Thank you, operator. And and as always, I'd like to thank everyone who joined us today on the call and we appreciate your continued interest in our company.
This is conference call, thank you for participating. You may now disconnect