Revenue Performance - Revenue for Q3 2024 was $64.5 million, a 3% decrease compared to $66.2 million in Q3 2023[4] - Revenue for the first nine months of 2024 was $189.2 million, a 16% decrease compared to $225.6 million for the same period in 2023[6] - Revenue for Q3 2024 was $64.52 million, down 2.6% from $66.24 million in Q3 2023[19] - Revenue for the three months ended September 30, 2024 was $64.5 million, a decrease from $66.2 million in the same period in 2023[25] - Revenue for the nine months ended September 30, 2024 was $189.2 million, a decrease from $225.6 million in the same period in 2023[25] Commerce Media Solutions Performance - Commerce Media Solutions revenue grew 341% to $10.4 million in Q3 2024, representing 16% of total revenue, up from $2.3 million (3% of revenue) in Q3 2023[1][4] - Commerce Media Solutions gross profit margin was 33% in Q3 2024, compared to 24% for the consolidated business[1][4] - The annual recurring run rate for Commerce Media Solutions currently exceeds $50 million[1] - Commerce Media Solutions revenue for the first nine months of 2024 increased 580% to $24.0 million compared to $3.5 million in the same period last year[6] - Commerce Media Solutions media margin was 33.7% in Q3 2024, up from 11.3% in Q3 2023[5] Profitability and Margins - Commerce Media Solutions gross profit margin was 33% in Q3 2024, compared to 24% for the consolidated business[1][4] - Gross profit margin remained stable at 24% for the three months ended September 30, 2024, compared to the same period in 2023[25] - Gross profit margin for the nine months ended September 30, 2024 was 25%, down from 26% in the same period in 2023[25] - Media margin for the three months ended September 30, 2024 was $18.2 million, representing 28.1% of revenue, down from $19.3 million and 29.2% in the same period in 2023[25] - Media margin for the nine months ended September 30, 2024 was $56.0 million, representing 29.6% of revenue, down from $67.2 million and 29.8% in the same period in 2023[25] - Media margin is defined as gross profit excluding depreciation, amortization, and non-media costs[21] Net Loss and Adjusted EBITDA - Net loss for Q3 2024 was $7.9 million, or $0.48 per share, compared to a net loss of $33.6 million, or $2.43 per share, in Q3 2023[4] - Net loss improved to $7.94 million in Q3 2024 from $33.63 million in Q3 2023, a 76.4% reduction[19] - Net loss for the three months ended September 30, 2024 was $7.9 million, an improvement from a net loss of $33.6 million in the same period in 2023[27] - Adjusted EBITDA for Q3 2024 was negative $0.1 million, an improvement of $1.7 million over Q3 2023[5] - Adjusted EBITDA for the three months ended September 30, 2024 was a loss of $71,000, compared to a loss of $1.7 million in the same period in 2023[27] - Adjusted net loss for the three months ended September 30, 2024 was $3.7 million, compared to $4.1 million in the same period in 2023[29] - Adjusted net loss for the nine months ended September 30, 2024 was $15.2 million, compared to $6.8 million in the same period in 2023[29] - Adjusted EBITDA excludes items such as goodwill impairment, share-based compensation, and acquisition-related costs[22] Financial Position and Cash Flow - Total assets decreased from $111.87 million in December 2023 to $95.95 million in September 2024, a decline of 14.2%[17] - Cash and cash equivalents dropped from $15.80 million to $6.59 million, a significant reduction of 58.3%[17] - Long-term debt decreased from $25.49 million to $0.50 million, a 98.0% reduction[17] - Operating cash flow was negative $11.96 million for the nine months ended September 2024, compared to positive $9.70 million in the same period 2023[20] - The company issued $54.62 million in long-term debt during the nine months ended September 2024[20] Goodwill and Impairment - Goodwill impairment charges were $1.26 million in 2024, significantly lower than $55.41 million in 2023[20] Future Outlook - The company targets double-digit consolidated revenue growth and enhanced profitability in 2025[3]

Revenue and Profitability - Revenue decreased 3% to $64.5 million in Q3 2024 compared to $66.2 million in Q3 2023[156] - Revenue decreased 16% to $189.2 million for the first nine months of 2024 compared to $225.6 million in the same period of 2023[156] - Revenue for the three months ended September 30, 2024 decreased by 3% to $64.5 million compared to $66.2 million in the same period in 2023[181] - Revenue for the nine months ended September 30, 2024 decreased by 16% to $189.2 million compared to $225.6 million in the same period in 2023[181] - Gross profit decreased 3% to $15.7 million in Q3 2024, maintaining a 24% margin[156] - Gross profit (exclusive of depreciation and amortization) for the three months ended September 30, 2024 was $15.7 million, representing 24% of revenue, compared to $16.1 million (24% of revenue) in the same period in 2023[171] - Gross profit (exclusive of depreciation and amortization) for the nine months ended September 30, 2024 was $46.9 million, representing 25% of revenue, compared to $57.7 million (26% of revenue) in the same period in 2023[171] - Media margin decreased 6% to $18.2 million in Q3 2024, representing 28.1% of revenue[156] - Media margin for the three months ended September 30, 2024 was $18.2 million, representing 28.1% of revenue, compared to $19.3 million (29.2% of revenue) in the same period in 2023[171] - Media margin for the nine months ended September 30, 2024 was $56.0 million, representing 29.6% of revenue, compared to $67.2 million (29.8% of revenue) in the same period in 2023[171] Net Loss and Adjusted EBITDA - Net loss improved to $7.9 million in Q3 2024 from $33.6 million in Q3 2023[156] - Net loss improved to $25.8 million for the first nine months of 2024 from $61.3 million in the same period of 2023[156] - Net loss for the three months ended September 30, 2024 was $7.9 million compared to $33.6 million in the same period in 2023[173] - Net loss for the nine months ended September 30, 2024 was $25.8 million compared to $61.3 million in the same period in 2023[173] - Adjusted EBITDA improved to negative $0.1 million in Q3 2024 from negative $1.7 million in Q3 2023[156] - Adjusted EBITDA for the three months ended September 30, 2024 was $(71) thousand compared to $(1.7) million in the same period in 2023[173] - Adjusted EBITDA for the nine months ended September 30, 2024 was $(3.9) million compared to $4.3 million in the same period in 2023[173] - Net loss for the three months ended September 30, 2024 was $7.9 million, a 76% decrease compared to $33.6 million in the prior period[211] - Net loss for the nine months ended September 30, 2024 was $25.8 million, a 58% decrease compared to $61.3 million in the prior period[211] Cost of Revenue and Expenses - Cost of revenue (exclusive of depreciation and amortization) decreased by 3% to $48.9 million in Q3 2024 compared to $50.1 million in Q3 2023, driven by lower owned and operated media costs due to FTC compliance changes[184] - Commerce Media Solutions cost of revenue increased to $6.9 million in Q3 2024 from $2.1 million in Q3 2023, driven by new media partnerships[184] - Total cost of revenue as a percentage of revenue remained consistent at 76% for Q3 2024 compared to Q3 2023[185] - Sales and marketing expenses decreased by 10% to $4.0 million in Q3 2024 from $4.4 million in Q3 2023, primarily due to lower employee salaries and benefits[189] - Product development expenses decreased by 9% to $4.1 million in Q3 2024 from $4.5 million in Q3 2023, driven by lower salaries and IT-related vendor spend[191] - General and administrative expenses increased by 4% to $9.1 million in Q3 2024 from $8.7 million in Q3 2023, primarily due to the absence of litigation-related credits[193] - Depreciation and amortization costs decreased by 11% to $2.4 million in Q3 2024 from $2.7 million in Q3 2023, due to the full amortization of certain intangible assets[196] - Goodwill impairment was $0 in Q3 2024 compared to $29.7 million in Q3 2023, reflecting no impairment in the current period[199] - Interest expense increased by 37% to $1.3 million in Q3 2024 from $0.9 million in Q3 2023, driven by higher average interest rates on the SLR term loan[201] - Workforce reductions in 2024 resulted in $2.5 million in exit-related restructuring costs, with $0.7 million settled in Q1 2024 and $0.6 million to be settled by December 2024[195] - The company recognized a $2.8 million unrealized loss related to the fair value adjustment of Convertible Notes in the three months ended September 30, 2024, compared to none in the prior period[202][206] - The company reported a $1.0 million loss on early extinguishment of debt related to the Citizens Credit Agreement in the nine months ended September 30, 2024, compared to no loss in the prior period[205] - Loss before income taxes decreased by $26.9 million in the three months ended September 30, 2024, primarily due to a $29.7 million decrease in goodwill impairment and a $1.3 million decline in cost of revenue[206] - Loss before income taxes decreased by $35.0 million in the nine months ended September 30, 2024, driven by a $54.1 million decrease in goodwill impairment and a $25.6 million decline in cost of revenue[207] Cash Flow and Liquidity - Net cash used in operating activities was $12.0 million for the nine months ended September 30, 2024, compared to net cash provided by operating activities of $9.7 million in the prior period[213] - The company had cash, cash equivalents, and restricted cash of $7.8 million as of September 30, 2024, a decrease of $8.0 million from $15.8 million as of December 31, 2023[216] - The company entered into the SLR Credit Agreement on April 2, 2024, providing a $20.0 million term loan and a $30.0 million revolving credit facility[217] - The company raised $2.1 million through convertible subordinated notes as part of the Second Amendment to the SLR Credit Agreement on August 19, 2024[222] - The company must raise at least $7.5 million of additional capital by November 29, 2024, as per the Third Amendment to the SLR Credit Agreement[223] - The company's SLR Credit Facility has an opening interest rate of 10.81%, which increased to 11.03% as of September 30, 2024[224] - The company faces substantial doubt about its ability to continue as a going concern for one year after the date of the Quarterly Report[228] Impairment and Fair Value Adjustments - The company recorded a non-cash impairment charge of $383 in Q2 2024 for long-lived assets[230] - The company recorded a non-cash impairment charge of $1,261 for goodwill in Q2 2024, with the carrying value exceeding the estimated fair value by 58%[231] - The fair value of the company's convertible notes was determined to be $4,860 as of Q3 2024[232] Strategic Initiatives and Outlook - Approximately 90% of users engage with the company's media on mobile devices or tablets[149] - The company's Commerce Media Solutions platform generates meaningful income for media partners while driving high-quality customer acquisition[151] - The company expects growth in Commerce Media Solutions to offset revenue declines in owned and operated marketplaces in Q4 2024[161] - The company updated its projections for Q4 2024 due to economic downward trends, reflecting continued pressure on operating results[223] - The company expects to be in compliance with new financial covenants for the next 12 months but acknowledges uncertainty due to past failures to meet projections[228] - The company is considering cost reduction measures and has divested non-core business units to meet budget and cash flow requirements[225] - The company may explore acquisitions of complementary businesses, products, or technologies, potentially requiring additional financing[226]

Fluent, Inc. (NASDAQ:FLNT) Q3 2024 Earnings Conference Call November 14, 2024 4:30 PM ET Company Participants Don Patrick - Chief Executive Officer Ryan Perfit - Chief Financial Officer Conference Call Participants Maria Ripps - Canaccord Bill Dezellem - Tieton Capital Management James Goss - Barrington Research Operator Good afternoon and welcome. Thank you for joining us to discuss Fluent's Third Quarter 2024 Earnings Results. With me today are Fluent's Chief Executive Officer, Don Patrick; Chief Financ ...

Fluent (FLNT) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -175%. A quarter ago, it was expected that this data and analytics company would post a loss of $0.21 per share when it actually produced a loss of $0.47, delivering a surprise of -123.81%.Over the last four quarters, the company h ...

Revenue of $64.5 million for Q3 2024 and $189.2 million for YTD 2024 Commerce Media Solutions revenue grew 341% to $10.4 million (16% of revenue) from $2.3 (3% of revenue) in Q3 last year with gross profit margin of 33% in the quarter compared to 24% for the consolidated business Commerce Media Solutions annual recurring run rate currently exceeds $50 million demonstrating strong traction in executing strategic pivot to a fast-growing market NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: ...

NEW YORK, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT) announced today that it will report its financial results for the Third Quarter 2024 after the close of the U.S. financial markets on November 14, 2024. Fluent will host a conference call at 4:30 pm ET on the same day to discuss the results. The conference call can be accessed by phone after registering online at Fluent Conference Call or via audio at Audio Registration. The call will also be webcast simultaneously on the Fluent website ...

NEW YORK, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a partner monetization and customer acquisition solutions leader, today announced that Don Patrick, Chief Executive Officer, and Ryan Perfit, Interim Chief Financial Officer, will participate in the 17th Annual Barrington Research Virtual Fall Investment Conference on Thursday, September 12, 2024. Mr. Patrick and Mr. Perfit will be available for oneon-one meetings throughout the day. About Fluent, Inc. Fluent, Inc. (NASDAQ: FLNT) has ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they be ...

Fluent, Inc. (NASDAQ:FLNT) Q2 2024 Earnings Conference Call August 19, 2024 4:30 PM ET Company Participants Don Patrick - CEO Ryan Perfit - Interim CFO Conference Call Participants Maria Ripps - Canaccord Jim Goss - Barrington Research Bill Dezellem - Tieton Capital Management Operator Good afternoon and welcome. Thank you for joining us to discuss our Second Quarter 2024 Earnings Results. With me today are Fluent's CEO, Don Patrick; Interim CFO, Ryan Perfit and Chief Strategy Officer, Ryan Schulke. Our cal ...

Fluent (FLNT) came out with a quarterly loss of $0.47 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -123.81%. A quarter ago, it was expected that this data and analytics company would post a loss of $0.05 per share when it actually produced a loss of $0.30, delivering a surprise of -500%. Over the last four quarters, the com ...