Company Overview - Fluent, Inc. is a leader in commerce media solutions, connecting top-tier brands with highly engaged consumers [2] - The company leverages diverse ad inventory, robust first-party data, and proprietary machine learning to unlock additional revenue streams for partners [2] - Founded in 2010, Fluent specializes in performance marketing to drive monetization and increase engagement across the customer journey [2] Upcoming Events - Don Patrick, CEO, and Ryan Perfit, CFO, will participate in the 18th Annual Barrington Research Virtual Fall Investment Conference on September 16, 2025 [1] - They will be available for one-on-one meetings throughout the day [1]

Core Insights - Fluent, Inc. has appointed Virginia Marsh as Head of Data & Agencies to enhance its data monetization strategies and expand its data intelligence infrastructure through a partnership with Databricks [1][4] - The initiative marks the launch of Fluent's dedicated data solutions arm, focusing on privacy-first data collaboration, real-time audience modeling, and scalable activation for agencies, platforms, and brands [2][3] Group 1: Strategic Developments - The partnership with Databricks aims to future-proof Fluent's audience strategy by developing data products that prioritize privacy, performance, and long-term growth [3] - The integration utilizes the Databricks Data Intelligence Platform and Delta Sharing protocol, enabling secure and compliant sharing of audience insights while maintaining control and measurement precision [3] Group 2: Leadership and Vision - Virginia Marsh brings over a decade of experience in retail, CPG, AdTech, and MarTech, leading Fluent's external data strategy to create privacy-safe, outcome-driven data products [4][5] - Marsh emphasizes the need for identity-resolved, real-time data that facilitates strategic collaboration, segmentation, and monetization beyond Fluent's immediate operations [5] Group 3: Technological Advancements - The Delta Sharing technology allows seamless collaboration and data sharing across organizational boundaries, enriching and activating high-intent audience segments across media platforms [8] - Fluent aims to automate insights and measurement through AI-powered modeling while monetizing owned data assets in a compliant and privacy-forward manner [8]

Financial Data and Key Metrics Changes - The company reported Q2 2025 consolidated revenue of $44.7 million, reflecting a 19% decline compared to Q1 2025 [6] - Media margin for Q2 was $11.9 million, a decrease of 13% from Q1 2025 [6] - Adjusted EBITDA was negative $2.8 million, showing a 300k improvement from Q1 2025 [6][19] Business Line Data and Key Metrics Changes - Commerce Media Solutions revenue grew 121% year-over-year to $16.1 million, now representing 36% of total consolidated revenue, up from 12% in Q2 2024 [15][11] - Owned and operated revenue decreased approximately 49% in the quarter, primarily due to strategic shifts [17] - Commerce Media margin was $3.2 million or 20% of Commerce Media Solutions revenue, down from 30.4% in Q2 2024 [17] Market Data and Key Metrics Changes - The company anticipates that Commerce Media Solutions will become the majority of revenue by 2026 [7] - The commerce media market is projected to grow over $100 billion in the next five years, expected to account for 25% of all digital media spend by 2026 [11] Company Strategy and Development Direction - The company is shifting its focus towards Commerce Media Solutions, which is seen as a transformational pivot and a competitive advantage in a growing market [9][10] - The strategic pivot is supported by a recent equity financing of over $10 million to bolster the balance sheet and fuel growth [10][20] - The company aims to achieve positive adjusted EBITDA by Q4 2025 and for the full year 2026 [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory of Commerce Media Solutions, expecting continued triple-digit growth [14] - The company is optimistic about the partnerships being established, which are expected to drive long-term dividends [12] - Management acknowledged the challenges faced in the owned and operated segment due to regulatory headwinds and pricing volatility [7][25] Other Important Information - The company ended Q2 2025 with $4.9 million in cash and cash equivalents, alongside $2.4 million in restricted cash [19] - Total net long-term debt was $19.9 million as of June 30, 2025, down from $31.9 million at the end of 2024 [20] Q&A Session Summary Question: What drove the declines in the owned and operated segment? - Management attributed the decline to the FTC settlement, which restricted media buying capabilities and increased pricing volatility on biddable platforms [23][25] Question: How is the partnership with Revise progressing? - The partnership is still in early stages but is showing good momentum with onboarding merchant partners [26][28] Question: What are the dynamics affecting margin pressures in Commerce Media? - Management indicated that margin pressures are due to early-stage solutions, competitive pricing strategies, and lower margins in new partnerships [32][34] Question: Can you discuss new placements beyond post transactions? - The company is exploring loyalty plays and post-event monetization opportunities, which are still in early development [41][42] Question: How does first-party data differentiate the company from competitors? - First-party data allows for better consumer targeting and monetization, driving better results for partners and enhancing revenue sharing [47][51]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q2 2025 financials show **significant net loss**, **deteriorating financial position**, and management's **substantial doubt** about **going concern** [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, the balance sheet shows **declining total assets**, liabilities, and shareholders' equity Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | **$4,929** | **$9,439** | | Total current assets | **$46,948** | **$65,955** | | Total assets | **$74,471** | **$93,617** | | Total current liabilities | **$49,651** | **$64,682** | | Total liabilities | **$55,348** | **$68,662** | | Total shareholders' equity | **$19,123** | **$24,955** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 saw **significant revenue declines** and continued **net losses**, though the **net loss improved** year-over-year Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | **$44,706** | **$58,717** | **$99,916** | **$124,700** | | Loss from operations | **$(7,106)** | **$(10,378)** | **$(14,182)** | **$(14,331)** | | Net loss | **$(7,223)** | **$(11,627)** | **$(15,492)** | **$(17,903)** | | Basic and Diluted EPS | **$(0.30)** | **$(0.75)** | **$(0.68)** | **$(1.11)** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow turned **positive** in H1 2025, while investing and financing activities continued to use cash Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | **$3,047** | **$(13,199)** | | Net cash used in investing activities | **$(3,231)** | **$(3,542)** | | Net cash (used in) provided by financing activities | **$(3,198)** | **$7,374** | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(3,382)** | **$(9,367)** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes reveal a '**Going Concern**' warning, debt covenant **non-compliance**, and ongoing **capital raises** to maintain liquidity - Management has concluded there is **substantial doubt** about the Company's ability to continue as a **going concern** for **one year**, citing **declining revenue**, profitability challenges, and **potential insufficiency of borrowing capacity**[25](index=25&type=chunk)[28](index=28&type=chunk) - As of June 30, 2025, the Company was **not in compliance** with its financial covenants under the SLR Credit Agreement, which would have resulted in an **event of default**. A subsequent amendment on August 15, 2025, **waived this non-compliance** contingent on **raising** at least **$8.5 million** in additional **capital**[27](index=27&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) - The company has engaged in multiple **private placements** and warrant issuances throughout late **2024** and the first half of **2025** to **raise capital**, primarily from related parties including officers, directors, and the largest stockholder[111](index=111&type=chunk)[115](index=115&type=chunk)[117](index=117&type=chunk) - Subsequent to the quarter end, on August 19, 2025, the company entered into agreements for a **private placement** to raise approximately **$10.3 million** in **gross proceeds** to satisfy the conditions of its latest debt amendment[152](index=152&type=chunk)[153](index=153&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=37&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes **revenue decline** to media supply issues and divestitures, while reiterating **going concern doubt** due to covenant **non-compliance** [Second Quarter Financial Summary](index=39&type=section&id=Second%20Quarter%20Financial%20Summary) Q2 2025 saw a **24% revenue decrease**, but **net loss** and Adjusted EBITDA **improved** compared to Q2 2024 Q2 2025 vs Q2 2024 Financial Highlights | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Revenue | **$44.7 million** | **$58.7 million** | | Net Loss | **$7.2 million** | **$11.6 million** | | Net Loss per Share | **$0.30** | **$0.75** | | Adjusted EBITDA | **($2.8 million)** | **($4.5 million)** | [Results of Operations](index=44&type=section&id=Results%20of%20Operations) Q2 2025 **revenue declined** due to O&O media supply issues, partially offset by Commerce Media Solutions **growth** and **workforce reductions** - Revenue from owned and operated marketplaces **fell to $21.4 million** in Q2 2025 from **$42.0 million** in Q2 2024, primarily due to **decreased media supply** following the FTC Consent Order[196](index=196&type=chunk) - Commerce Media Solutions revenue **grew significantly to $16.1 million** in Q2 2025 from **$7.3 million** in Q2 2024, partially offsetting the **decline** in the core business[196](index=196&type=chunk) - The company executed **workforce reductions** in Q1 2025 and throughout 2024, leading to **lower salary and benefit expenses** across Sales & Marketing, Product Development, and General & Administrative departments[215](index=215&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) **Liquidity** remains under pressure with debt covenant **non-compliance**, requiring a **capital raise** despite ongoing **going concern doubts** - As of June 30, 2025, the company was **not in compliance** with financial covenants under its SLR Credit Agreement, triggering a potential **event of default**[254](index=254&type=chunk)[264](index=264&type=chunk) - A Fifth Amendment to the credit agreement, dated August 15, 2025, **waived the non-compliance** contingent on the company **raising** at least **$8.5 million** in **capital** by August 19, 2025[254](index=254&type=chunk)[265](index=265&type=chunk) - To meet the financing condition, the company entered into agreements on August 19, 2025, for a **private placement** to **raise gross proceeds** of approximately **$10.3 million**[241](index=241&type=chunk) - Management has concluded that there is **substantial doubt** about the Company's ability to continue as a **going concern** for **one year** after the issuance date of the 10-Q[255](index=255&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=56&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from market risk disclosures - The company is a smaller reporting company and is **not required** to provide quantitative and qualitative disclosures about market risk[272](index=272&type=chunk) [Controls and Procedures](index=56&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective with no material changes to internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[274](index=274&type=chunk) - No material changes were made to the internal control over financial reporting during the quarter ended June 30, 2025[275](index=275&type=chunk) [PART II - OTHER INFORMATION](index=57&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) The company is **not currently involved** in any material legal proceedings - The company is **not currently party** to any material legal proceedings[277](index=277&type=chunk) [Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) **Substantial doubt** about **going concern** persists due to **declining revenue**, **losses**, and debt covenant **non-compliance**, with potential **margin compression** from new business investments - A primary risk factor is the **substantial doubt** about the company's ability to continue as a **going concern**, stemming from **declining revenue**, profitability issues, and debt covenant breaches[280](index=280&type=chunk)[283](index=283&type=chunk) - As of June 30, 2025, the company was **not in compliance** with its financial covenants, which could have resulted in an **event of default** and **debt acceleration**. A subsequent amendment provided a waiver contingent on an additional **capital raise**[282](index=282&type=chunk) - The company's investment in its **growing Commerce Media Solutions business** may lead to continued **margin compression**, and its ability to **improve profitability is uncertain**[287](index=287&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=59&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Certain stockholders and officers exercised pre-funded warrants, leading to the issuance of over **3.1 million** common shares - In Q2 2025, a total of **3,159,527 shares** of common stock were issued upon the exercise of pre-funded warrants by a principal stockholder and certain officers/directors[290](index=290&type=chunk)

[Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlights strong Commerce Media Solutions growth and strategic shift, projecting Q4 2025 adjusted EBITDA profitability and 2026 full-year growth - Commerce Media Solutions revenue grew **121%** year-over-year, with its annual revenue run rate now exceeding **$80 million**, a **23%** increase from the first quarter of 2025[3](index=3&type=chunk)[7](index=7&type=chunk) - The company is strategically reallocating resources from its owned and operated segment to the higher-growth Commerce Media Solutions, which is expected to become the majority revenue contributor in H2 2025[4](index=4&type=chunk) - Margins for Commerce Media Solutions were temporarily lower due to strategic expansion into new placements and incentives offered to secure long-term media partner contracts[3](index=3&type=chunk) - Fluent expects to achieve adjusted EBITDA profitability in the **fourth quarter of 2025**, with projections for full-year double-digit consolidated revenue growth and adjusted EBITDA profitability in **2026**[4](index=4&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Q2 2025 saw a 24% total revenue decrease to $44.7 million, driven by Owned and Operated decline, offset by 121% growth in Commerce Media Solutions Q2 2025 vs Q2 2024 Financial Performance (in millions, except per share data) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$44.7** | **$58.7** | **-24%** | | Commerce Media Solutions Revenue | $16.1 | $7.3 | +121% | | Owned and Operated Revenue | $21.4 | $42.0 | -49% | | Gross Profit | $10.3 | $12.6 | -18% | | Net Loss | $(7.2) | $(11.6) | +38% | | Net Loss Per Share | $(0.30) | $(0.75) | +60% | | Adjusted EBITDA Loss | $(2.8) | $(4.5) | +38% | H1 2025 vs H1 2024 Financial Performance (in millions, except per share data) | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$99.9** | **$124.7** | **-20%** | | Commerce Media Solutions Revenue | $28.7 | $13.7 | +110% | | Owned and Operated Revenue | $52.5 | $86.7 | -39% | | Gross Profit | $21.7 | $31.2 | -30% | | Net Loss | $(15.5) | $(17.9) | +13% | | Net Loss Per Share | $(0.68) | $(1.11) | +39% | - Subsequent to the quarter, the company raised **$10.3 million** from new investors and insiders[7](index=7&type=chunk) [Business Outlook & Goals](index=2&type=section&id=Business%20Outlook%20%26%20Goals) Fluent's strategy focuses on accelerating Commerce Media Solutions growth, securing new partners, leveraging data and AI, and reaffirming Q4 2025 adjusted EBITDA profitability - Strategic goals include: - Accelerating growth of Commerce Media Solutions - Winning top-tier media partners in diverse new market verticals - Leveraging **14 years** of customer acquisition experience and first-party data as a competitive differentiator - Using AI to improve monetization and return Commerce Media Solutions gross margin to the **high twenties**[10](index=10&type=chunk) - The company reiterates its financial outlook, expecting adjusted EBITDA profitability in **Q4 2025**, as well as full-year double-digit consolidated revenue growth and full-year adjusted EBITDA profitability in **2026**[10](index=10&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Unaudited consolidated financial statements for Q2 2025 show decreased assets and liabilities, narrowed net loss, and improved cash from operations [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets decreased to $74.5 million, total liabilities to $55.3 million, and shareholders' equity to $19.1 million Balance Sheet Summary (in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $4,929 | $9,439 | | Accounts receivable, net | $31,227 | $46,532 | | **Total current assets** | **$46,948** | **$65,955** | | **Total assets** | **$74,471** | **$93,617** | | Total current liabilities | $49,651 | $64,682 | | **Total liabilities** | **$55,348** | **$68,662** | | **Total shareholders' equity** | **$19,123** | **$24,955** | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) Q2 2025 revenue was $44.7 million with a net loss of $7.2 million, improving from the prior year's $11.6 million net loss Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $44,706 | $58,717 | $99,916 | $124,700 | | Loss from operations | $(7,106) | $(10,378) | $(14,182) | $(14,331) | | **Net loss** | **$(7,223)** | **$(11,627)** | **$(15,492)** | **$(17,903)** | | Basic & Diluted loss per share | $(0.30) | $(0.75) | $(0.68) | $(1.11) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 saw net cash provided by operating activities of $3.0 million, a turnaround from $13.2 million used in H1 2024 Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash from operating activities | $3,047 | $(13,199) | | Net cash used in investing activities | $(3,231) | $(3,542) | | Net cash (used in) provided by financing activities | $(3,198) | $7,374 | | **Net decrease in cash** | **$(3,382)** | **$(9,367)** | [Non-GAAP Financial Measures & Reconciliations](index=8&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) Fluent uses non-GAAP measures like Media Margin and Adjusted EBITDA, with Q2 2025 showing improved adjusted EBITDA loss and stable total media margin percentage - The company uses Media Margin to measure the financial return on media costs, Adjusted EBITDA to evaluate operating performance, and Adjusted Net Income to provide a different view of overall financial performance[33](index=33&type=chunk)[34](index=34&type=chunk)[36](index=36&type=chunk) Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(7,223) | $(11,627) | $(15,492) | $(17,903) | | **Adjusted EBITDA** | **$(2,773)** | **$(4,504)** | **$(5,857)** | **$(3,839)** | Media Margin Performance (in thousands) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Media Margin** | **$11,943** | **$15,665** | **$25,674** | **$37,804** | | Total Media Margin % | 26.7% | 26.7% | 25.7% | 30.3% | | **Commerce Media Margin** | **$3,217** | **$2,219** | **$6,328** | **$4,218** | | Commerce Media Margin % | 20.0% | 30.4% | 22.0% | 30.9% | [Safe Harbor Statement](index=3&type=section&id=Safe%20Harbor%20Statement) This section provides a forward-looking statement disclaimer, highlighting risks including credit agreement compliance, going concern doubts, and competitive industry challenges - The press release contains forward-looking statements that are not guarantees of future performance and are subject to various risks and uncertainties[13](index=13&type=chunk) - Key risk factors include: - Compliance with credit agreements and substantial doubt about the ability to continue as a going concern - Operating in a competitive, rapidly changing, and highly regulated industry - Investment in the Commerce Media Solutions business may continue to compress margins - Dependence on key personnel and third-party service providers[13](index=13&type=chunk)

Core Viewpoint - Fluent, Inc. reported strong growth in its Commerce Media Solutions business, with a year-over-year revenue increase of 121% and a run rate growth of 23% compared to the first quarter of 2025, while also anticipating continued growth in the latter half of the year [2][3]. Financial Performance - Q2 2025 revenue was $44.7 million, a decrease of 24% from $58.7 million in Q2 2024 [6]. - Commerce Media Solutions revenue grew 121% to $16.1 million, representing 36% of total revenue, up from 12% in Q2 2024 [5][6]. - Owned and Operated revenue decreased 49% to $21.4 million compared to $42.0 million in Q2 2024 [6]. - The company reported a net loss of $7.2 million, or $0.30 per share, compared to a net loss of $11.6 million, or $0.75 per share, for Q2 2024 [6][7]. Strategic Outlook - The company expects Commerce Media Solutions to become the majority revenue contributor in the second half of 2025, marking a significant milestone [3]. - Fluent anticipates adjusted EBITDA profitability in Q4 2025 and full-year double-digit revenue growth and adjusted EBITDA profitability in 2026 [3][8]. Key Metrics - Commerce Media Solutions annual revenue run rate now exceeds $80 million, reflecting a 23% quarter-over-quarter increase [5]. - Gross profit (exclusive of depreciation and amortization) for Q2 2025 was $10.3 million, representing 23% of revenue, while Commerce Media Solutions reported a gross profit of $2.9 million, an increase of 43% over Q2 2024 [6][21]. - Adjusted EBITDA loss for Q2 2025 was $2.8 million, an improvement of $1.7 million compared to Q2 2024 [6][29]. Capital and Investment - The company raised $10.3 million from new investors and insiders subsequent to the quarter [5].

Core Viewpoint - Fluent, Inc. has announced a definitive agreement for the issuance and sale of 5,871,427 shares of common stock at an effective purchase price of $1.75 per share, aiming to raise approximately $10.3 million in gross proceeds to bolster its balance sheet and support growth plans [1][3]. Group 1: Private Placement Details - The private placement includes pre-funded warrants with an exercise price of $0.0005, which will be exercisable upon stockholder approval [1]. - The warrants have an exercise price of $2.21 per share and will be exercisable starting six months after issuance, expiring five years from the initial exercisability date [1]. - The offering is expected to close on or about August 19, 2025, subject to customary closing conditions [1]. Group 2: Financial Implications - The gross proceeds from the private placement are expected to be approximately $10.3 million, before deducting fees and expenses [3]. - If fully exercised, the additional gross proceeds from the warrants and pre-funded warrants could amount to approximately $13.0 million [3]. - The net proceeds from the private placement are intended for working capital and general corporate purposes [3]. Group 3: Company Overview - Fluent, Inc. is a leader in commerce media solutions, connecting brands with engaged consumers through exclusive ad inventory and first-party data [7]. - The company has experienced triple-digit growth in its Commerce Media Solutions business, attracting a growing list of world-class brands [2]. - Founded in 2010, Fluent leverages performance marketing expertise to drive monetization and enhance customer engagement [7].

Core Insights - Fluent, Inc. has expanded its partnership with Authentic Brands Group, enhancing its position as a post-purchase monetization partner for retailers [1][2] - Authentic Brands Group owns a portfolio generating over $32 billion in global annual retail sales, and the partnership aims to add millions of annual transactions to Fluent's network [2][3] Company Overview - Fluent, Inc. is a commerce media solutions provider that connects brands with engaged consumers, leveraging exclusive ad inventory and first-party data [5] - Founded in 2010, Fluent focuses on performance marketing to drive monetization and enhance customer engagement [5] Partnership Details - The expanded partnership will support post-purchase monetization for additional brands including Reebok, Vince Camuto, and Champion, among others [2][3] - Fluent's technology allows retail partners to deliver personalized offers that enhance customer experience without disrupting the purchasing process [3][4] Strategic Importance - The partnership is seen as a significant step in building a high-performance commerce media network, unlocking premium ad inventory for brands [3] - Authentic Brands Group recognizes Fluent's data-driven approach as a means to drive new revenue and improve customer experience [4]

Fluent (FLNT) FY Conference Summary Company Overview - Fluent is a digital advertising company focused on customer acquisition for major brands [2][4] - The company has pivoted towards a new digital marketing channel called Commerce Media, which has rapidly grown from $0 to $50 billion in less than four years and is expected to double again [5][13] Key Financial Metrics - Fluent achieved a $65 million annual run rate in its Commerce Media business and expects to double this in 2025 and again in 2026 [6][19] - The company has historically grown its legacy business at a compounded average growth rate of over 12% for the first 12 years [4] - The transition to Commerce Media is anticipated to return Fluent to double-digit revenue growth with improving margins and profitability [6][19] Strategic Pivot - The strategic pivot from legacy business to Commerce Media is driven by the need for higher growth and higher margins [34][36] - Fluent's first-party data asset is a key competitive advantage, allowing for better consumer targeting and ad relevance [26][49] - The company has integrated its technology into partner websites, enabling a performance-based revenue model with no upfront costs [15][16] Market Dynamics - The Commerce Media market is projected to grow from $50 billion to $100 billion by 2027 [13] - Fluent's business model allows for a revenue share split, typically $60 to the media partner and $40 to Fluent [10][45] - The company is positioned to benefit from tailwinds in digital advertising, particularly in the context of privacy and data compliance [14][18] Partnerships and Growth Opportunities - Fluent has launched a strategic partnership with Rebuy, a top Shopify app, which opens access to 12,000 merchants and enhances market penetration [22][23][42] - The company is exploring opportunities in additional verticals such as travel, finance, and entertainment beyond its current focus on retail, ticketing, grocery, and restaurants [21][22] Case Studies and Performance Metrics - A case study with a large sports retailer showed a 35% increase in revenue per consumer compared to competitors, highlighting the effectiveness of Fluent's data-driven approach [31] - Another case study with a gaming company demonstrated a 650% quarter-over-quarter growth in new users, indicating the scalability of Fluent's solutions [33] Conclusion - Fluent is undergoing a significant transformation towards a higher growth, higher margin business model through its Commerce Media solutions, leveraging its first-party data and technology integration to drive better results for advertisers and partners [39][40]

Core Viewpoint - Fluent, Inc. is set to report its financial results for the second quarter of 2025 on August 19, 2025, after the U.S. financial markets close [1] Group 1: Financial Reporting - The financial results will be discussed in a conference call scheduled for 4:30 pm ET on the same day [1] - The conference call will be accessible via phone after online registration and will also be webcast on Fluent's Investor Relations Page [2] - A recorded replay of the webcast will be available for one year following the call [2] Group 2: Company Overview - Fluent, Inc. is a commerce media solutions provider that connects brands with engaged consumers [3] - The company utilizes diverse ad inventory, first-party data, and proprietary machine learning to create additional revenue streams for partners [3] - Founded in 2010, Fluent specializes in performance marketing to enhance monetization and engagement throughout the customer journey [3]