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FLNT

Fluent, Inc.

FLNT

Fluent, Inc. • NASDAQ
$1.78 ▲ 0.00% (+0.00)
Market Cap $34.77 M
52w High $3.12
52w Low $1.50
Dividend Yield 0%
P/E -1.8
Volume 6.11K
Outstanding Shares 19.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $47.029M ▲ $17.177M ▼ $-7.328M ▼ -15.582% ▲ $-0.25 ▲ $-1.215M ▲
Q2-2025 $44.706M ▼ $17.386M ▼ $-7.223M ▲ -16.157% ▼ $-0.3 ▲ $-4.149M ▲
Q1-2025 $55.21M ▼ $18.511M ▼ $-8.269M ▼ -14.977% ▼ $-0.39 ▼ $-4.695M ▼
Q4-2024 $65.407M ▲ $19.345M ▼ $-3.43M ▲ -5.244% ▲ $-0.19 ▲ $-1.882M ▲
Q3-2024 $64.516M $19.543M $-7.944M -12.313% $-0.48 $-4.329M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.247M ▲ $76.06M ▲ $54.474M ▼ $21.586M ▲
Q2-2025 $4.929M ▲ $74.471M ▼ $55.348M ▼ $19.123M ▼
Q1-2025 $4.828M ▼ $77.494M ▼ $55.459M ▼ $22.035M ▼
Q4-2024 $9.439M ▲ $93.617M ▼ $68.662M ▼ $24.955M ▲
Q3-2024 $6.587M $95.945M $75.966M $19.979M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.556M ▼ $-7.554M ▼ $-1.66M ▲ $11.859M ▲ $2.645M ▲ $-7.571M ▼
Q2-2025 $-7.223M ▲ $935K ▼ $-1.661M ▼ $1.955M ▲ $1.229M ▲ $904K ▲
Q1-2025 $-8.269M ▼ $2.112M ▲ $-1.57M ▼ $-5.153M ▼ $-4.611M ▼ $542K ▲
Q4-2024 $-3.43M ▲ $-2.141M ▼ $-1.483M ▼ $6.476M ▲ $2.852M ▲ $-3.624M ▼
Q3-2024 $-7.944M $1.236M $-1.186M $1.355M $1.405M $50K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Owned and Operated
Owned and Operated
 $0 ▲$30.00M ▲$20.00M ▼$20.00M ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Fluent Segment
Fluent Segment
 $60.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been drifting down over the last few years after a short period of growth, which suggests the legacy business is under pressure. Profitability has been inconsistent: the company moved from small profits or break-even to more persistent losses. The latest year still shows a loss, but the size of that loss has narrowed compared with the prior year, which hints at some early impact from cost-cutting or the strategic pivot. Overall, the income statement tells a story of a business in transition, not yet back to stable, profitable growth.

Balance Sheet

Balance Sheet The balance sheet has become much leaner over time, with total assets and shareholder equity shrinking significantly. Debt has stayed fairly steady, which means leverage has effectively risen as the asset and equity base has come down. Cash levels are modest, leaving only a thin cushion against setbacks. In simple terms, the company still has a positive equity position, but its financial safety net is smaller than it used to be, so it has less room for prolonged missteps.

Cash Flow

Cash Flow Cash generation has been patchy. In some earlier years the business produced a little cash from operations, but the most recent period shows cash being used rather than generated. Free cash flow has slipped into negative territory, though ongoing spending on physical assets is relatively light. This means that, for now, the company is relying more on its cash reserves and financing rather than on its core business to fund operations, increasing pressure to turn the new strategy into a reliable cash generator.

Competitive Edge

Competitive Edge Fluent operates in a very crowded and fast-moving digital advertising and marketing space, competing with both specialized ad-tech firms and large platforms. Its main competitive angle is its large pool of first-party consumer data and its ability to use that data for targeted, performance-based advertising. The shift toward commerce media and post-purchase ad placements gives it a clear niche, especially for online merchants looking to monetize checkout flows. However, the company is much smaller than dominant industry players, and faces ongoing competition, pricing pressure, and platform and regulatory risks around data and privacy.

Innovation and R&D

Innovation and R&D The company is leaning heavily into innovation to reset its trajectory. Its key assets are a long-built, proprietary identity graph, partnerships that blend its data with external sources, and increasing use of artificial intelligence to better match offers to shoppers at checkout. The pivot to commerce media—especially post-purchase offers and integrations with e-commerce platforms—shows a clear focus on higher-margin, technology-driven services rather than traditional lead generation. Continued progress will depend on successfully scaling these new products, deepening partnerships, and keeping its data and AI capabilities clearly differentiated in a crowded market.

Summary

Fluent is in the middle of a significant reinvention, moving away from a struggling legacy marketing model toward a commerce media platform built around first-party data and AI. Financially, the company has seen revenue pressure, recurring losses, and a thinner balance sheet, with recent cash burn increasing execution risk. At the same time, losses have started to narrow, and the new commerce media segment appears to be growing quickly and becoming more central to the business mix. The key questions going forward are whether this new segment can grow fast enough, and profitably enough, to offset the decline in the old business, rebuild cash generation, and strengthen the balance sheet in a highly competitive and regulated digital advertising environment.

NEWS

November 4, 2025 · 9:15 AM UTC

Fluent, Inc. to Announce Third Quarter 2025 Financial Results and Host Earnings Conference Call on November 13, 2025

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October 16, 2025 · 8:30 AM UTC

Rebuy Monetize Powered by Fluent Accelerates Merchant Growth as Partnership Scales Across Shopify

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September 23, 2025 · 7:17 PM UTC

FLINT Announces Completion of Recapitalization

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September 17, 2025 · 8:30 AM UTC

Fluent Named to Crain's New York Business 2025 Best Places to Work List

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September 2, 2025 · 8:30 AM UTC

Fluent, Inc. to Participate in 18th Annual Barrington Research Virtual Fall Investment Conference

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