As a result of prior acquisitions, we had a substantial amount of goodwill and purchased intangible assets on our consolidated balance sheet. The carrying value of goodwill represents the fair value of an acquired business in excess of identifiable assets and liabilities as of the acquisition date. The carrying value of intangible assets with identifiable useful lives are amortized based on their economic lives. Goodwill that is expected to contribute indefinitely to our cash flows is not amortized but must ...

NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ:FLNT) announced today that it will report its financial results for the fourth quarter and fiscal year ended December 31, 2023, after the close of the U.S. financial markets on April 2, 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 sim ...

NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT) announced today that it will report its financial results for the fourth quarter and fiscal year ended December 31, 2023, after the close of the U.S. financial markets on April 2, 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 si ...

NEW YORK, March 21, 2024 (GLOBE NEWSWIRE) -- Fluent Inc., a leader in performance marketing, has selected Fyllo | Semasio, the leading provider of next-gen contextual targeting solutions powered by advanced semantic technology, to launch a contextual advertising solution with Semasio's technology built to ensure consumer privacy. The partnership couples Fluent's first-party survey data sourced exclusively from its owned and operated sites with Semasio's advanced semantic targeting. The combination results i ...

Fluent (FLNT) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this data and analytics company would post earnings of $0.01 per share when it actually produced a loss of $0.05, delivering a surprise of -600%.Over the last four quarters, the company has ...

Revenue of $72.8 million for Q4 2023 and $298.4 million for FY 2023Net loss of $1.9 million for Q4 2023 and $63.2 million for FY 2023Gross profit (exclusive of depreciation and amortization) of $20.8 million for Q4 2023 and $78.5 million for FY 2023Media margin of $24.1 million for Q4 2023 and $91.3 million for FY 2023Adjusted EBITDA of $2.5 million for Q4 2023 and $6.8 million for FY 2023Adjusted net loss of $0.4 million for Q4 2023 and $7.2 million for FY 2023 NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- F ...

Revenue and Profit Performance - Q4 2023 revenue was $72.8 million, a decrease of 14.1% compared to $84.7 million in Q4 2022[2] - Full-year 2023 revenue was $298.4 million, a decrease of 17.4% compared to $361.1 million in 2022[9] - Q4 2023 gross profit (exclusive of depreciation and amortization) was $20.8 million, an increase of 4.0% over Q4 2022 and representing 29% of revenue[9] - Full-year 2023 gross profit (exclusive of depreciation and amortization) was $78.5 million, a decrease of 16.2% over 2022 and representing 26% of revenue[2] - Q4 2023 media margin was $24.1 million, an increase of 1.7% over Q4 2022 and representing 33.1% of revenue[9] - Full-year 2023 media margin was $91.3 million, a decrease of 17.0% over prior year and representing 30.6% of revenue[2] EBITDA and Net Loss - Q4 2023 adjusted EBITDA was $2.5 million, a decrease of $0.2 million over Q4 2022 and representing 3.4% of revenue[9] - Full-year 2023 adjusted EBITDA was $6.8 million, a decrease of $15.9 million over prior year and representing 2.3% of revenue[2] - Q4 2023 net loss was $1.9 million, or $0.02 per share, compared to net loss of $67.5 million, or $0.83 per share, for Q4 2022[9] - Full-year 2023 net loss was $63.2 million, or $0.77 per share, compared to net loss of $123.3 million, or $1.51 per share, for the prior year[2] - Net loss for the year ended December 31, 2023, was $63.2 million, compared to $123.3 million in 2022, showing a significant improvement[18] - Adjusted EBITDA for the year ended December 31, 2023, was $6.8 million, compared to $22.7 million in 2022[19] - Adjusted net loss for the year ended December 31, 2023, was $7.2 million, compared to an adjusted net income of $5.8 million in 2022[32] Goodwill and Impairment - Goodwill impairment for the year ended December 31, 2023, was $55.4 million, compared to $111.1 million in 2022[18] - Goodwill significantly decreased from $55.111 million in 2022 to $1.261 million in 2023, a decline of 97.7%[36] Cash Flow and Financial Position - Net cash provided by operating activities for the year ended December 31, 2023, was $8.1 million, compared to $2.0 million in 2022[18] - Cash and cash equivalents decreased from $25.547 million in 2022 to $15.804 million in 2023, a decline of 38.1%[36] - Accounts receivable decreased from $63.164 million in 2022 to $56.531 million in 2023, a decline of 10.5%[36] - Total current assets decreased from $92.217 million in 2022 to $78.406 million in 2023, a decline of 15.0%[36] - Current portion of long-term debt increased from $5.000 million in 2022 to $30.488 million in 2023, a rise of 509.8%[36] - Total liabilities decreased from $90.014 million in 2022 to $77.463 million in 2023, a decline of 13.9%[36] Strategic Initiatives and Growth Plans - The company plans to expand its media footprint through influencer and syndicated performance marketplaces[22] - The company will focus on sourcing customer traffic that meets internal quality mandates and leveraging its platform to drive consumer insights[22] - The company will continue to invest in growth initiatives with long-term potential and competitive advantage while expanding margins over time[22] - The company is managing growth through international expansion and integration of acquired business units[35] Credit Agreement and Financial Risks - On January 26, 2024, the company entered into a Third Temporary Waiver and Amendment to Credit Agreement, waiving certain covenant breaches until April 30, 2024[23] - The company faces substantial doubt about its ability to continue as a going concern due to potential non-compliance with credit agreement covenants[35] - The company is dependent on third-party publishers, internet search providers, and social media platforms for a significant portion of website traffic[35] - The company is exposed to credit risk from certain clients and pricing pressure, which may impact revenue allocation[35] Non-GAAP Financial Measures - Media margin is defined as a non-GAAP financial measure reflecting variable costs paid for media and related expenses, excluding non-media cost of revenue[28]

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ:FLNT), a leader in performance marketing, recently surveyed the AdExchanger audience of marketing professionals to reveal valuable insights about how top brands, agencies, media companies, and retailers are strategizing around commerce media growth in 2024. "Our goal with this survey is to empower industry stakeholders with actionable insights to make informed decisions and drive success in their respective commerce media initiatives," says Ma ...

Fluent, Inc. (NASDAQ:FLNT) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants Don Patrick - Chief Executive Officer Ryan Perfit - Interim Chief Financial Officer Conference Call Participants Maria Ripps - Canaccord Bill Dezellem - Tieton Capital Management Operator Good afternoon, and welcome. Thank you for joining us to discuss our Third Quarter 2023 Earnings Results. With me today are Fluent's CEO, Don Patrick; Interim CFO, Ryan Perfit; and Chief Strategy Officer, Ryan Schu ...

Not Applicable. Item 5. Other Information. Because this Quarterly Report on Form 10-Q is being filed within four business days after the applicable triggering events, the information below is being disclosed under this Item 5 instead of under Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant) and Item 3.03 (Material Modification to Rights of Security Holders) of Form 8-K. Item 4. ...