Core Insights - Fluent, Inc. has appointed Adrian Stack as Chief Product Officer to lead the company's product vision and strategy, focusing on AI-powered Commerce Media Solutions to enhance consumer engagement and partner success [1][3] Company Overview - Fluent, Inc. is a commerce media solutions provider that connects top-tier brands with highly engaged consumers, leveraging exclusive ad inventory, robust first-party data, and proprietary machine learning [5] Leadership and Experience - Adrian Stack brings over 15 years of experience in product development leadership, having previously led Data Engineering at Zillow and served as SVP of Product at Rokt, where he scaled the commerce media business [2][4] Strategic Focus - The company aims to strengthen its AI-powered marketplace by investing in data infrastructure and product capabilities, enhancing ad relevance for consumers, and maximizing ROI for advertisers [3][4] Innovation and Growth - Stack's role will be pivotal in driving product innovation, enhancing data strategies, and unlocking new opportunities for long-term growth and profitability, supported by Fluent's expertise in customer acquisition [4]

Core Insights - The survey conducted by Fluent, Inc. reveals that post-purchase ads significantly enhance the shopping experience, drive product discovery, and encourage repeat purchases among consumers [1][2]. Enhancing the Customer Journey - 54% of shoppers believe that post-purchase ads improve their shopping experience by providing useful discounts and promotions [3] - 62% of respondents are motivated to click on deals and discounts presented in post-purchase ads [3]. Driving Retention & Loyalty - 88% of consumers who find post-purchase ads to be beneficial due to personalized suggestions are more likely to return for future purchases [4]. - The survey indicates that post-purchase ads do not disrupt the shopping journey but rather enhance it, confirming their role in driving product discovery and long-term loyalty [4]. Value Creation for Retailers - Post-purchase advertising serves as an incremental revenue stream for retailers, integrating seamlessly into the customer journey [4]. - These ads create high-impact advertising opportunities for advertisers while delivering relevant offers to consumers who are already in a buying mindset [4]. Survey Demographics - The survey was conducted in December 2024 with 1,003 US consumers aged 18-65 who made an online purchase in the past 30 days and recalled seeing at least one post-purchase ad [5]. Additional Findings - 57% of shoppers who engaged with a post-purchase offer discovered a new product or service they loved [8]. - 63% of consumers who encounter post-purchase ads after every online purchase feel that these ads enhance their shopping experience [8].

Core Insights - Fluent, Inc. released a survey indicating that post-purchase ads significantly enhance the shopping experience, drive product discovery, and encourage repeat purchases [1][2]. Enhancing the Customer Journey - 54% of shoppers believe post-purchase ads improve their shopping experience by providing useful discounts and promotions [3] - 62% of respondents are motivated to click on deals and discounts presented in post-purchase ads [3]. Driving Retention & Loyalty - 88% of consumers who find post-purchase ads to be beneficial due to personalized suggestions are more likely to return for future purchases [4] - 57% of shoppers who converted on a post-purchase offer discovered a new product or service they love [7] - 63% of consumers who see post-purchase ads after every online purchase feel these ads enhance their shopping experience [7]. Value Creation for Retailers - Post-purchase advertising serves as an incremental revenue stream for retailers, integrating seamlessly into the customer journey [4] - These ads create high-impact advertising opportunities for advertisers while delivering relevant offers to consumers in a buying mindset [4]. Survey Methodology - The survey was conducted in December 2024 with 1,003 US consumers aged 18-65 who made an online purchase in the past 30 days and recalled seeing at least one post-purchase ad [5].

Core Insights - Fluent, Inc. has been recognized as one of Ad Age's 2025 Best Places to Work, ranking 18 on the list [1][2]. Company Overview - Fluent, Inc. is a commerce media solutions provider that connects brands with engaged consumers, leveraging diverse ad inventory, first-party data, and proprietary machine learning [6]. - Founded in 2010, Fluent focuses on performance marketing to drive monetization and enhance customer engagement throughout the customer journey [6]. Recognition Details - The Ad Age Best Places to Work list is an annual ranking that evaluates companies based on pay, benefits, corporate culture, and leadership, honoring 50 companies that excelled in these areas [2][4]. - The recognition reflects Fluent's commitment to cultivating talent and fostering a performance-driven culture, which contributes to positive business momentum [3]. Employee Benefits and Culture - Fluent emphasizes a collaborative work environment that promotes innovation and creativity, offering benefits such as mental health services, flexible paid time off, and mentorship programs [3]. - The company also engages in community service and has a donation-matching program to support employee-driven causes [3]. Industry Context - The recognition from Ad Age enhances Fluent's reputation, making it more attractive to top talent in a competitive labor market [4]. - The scoring system for the Best Places to Work list includes employee feedback and company policies on various topics, ensuring a comprehensive evaluation of workplace quality [5].

Core Insights - Fluent, Inc. has been recognized as one of Ad Age's 2025 Best Places to Work, ranking 18 on the list [1][2] Company Overview - Fluent, Inc. is a commerce media solutions provider that connects brands with engaged consumers, leveraging diverse ad inventory and first-party data [6] - Founded in 2010, Fluent specializes in performance marketing to enhance monetization and customer engagement [6] Recognition Details - The Ad Age Best Places to Work list honors companies that excel in pay, benefits, corporate culture, and leadership, with 50 companies recognized for their adaptability in the evolving advertising industry [2][4] - The recognition is based on employee responses and company policies regarding pay, work/life balance, and development opportunities [5] Employee Commitment - Fluent emphasizes a collaborative work environment that fosters innovation, offering benefits such as mental health services, flexible schedules, and mentorship programs [3] - The company also engages in community service and has a donation-matching program to support employee-driven causes [3] Industry Context - The recognition from Ad Age enhances Fluent's reputation, making it more attractive to top talent in a competitive labor market [4]

Group 1 - Global Value Investment Corporation (GVIC) has appointed Interim CEO and President JP Geygan to the Board of Directors of Fluent, Inc. (NASDAQ:FLNT) [1] - GVIC holds approximately 15% of Fluent, Inc.'s common stock, indicating a strong commitment to the company's growth [2] - Geygan's experience in corporate governance and capital allocation is expected to enhance Fluent's strategic direction and long-term value creation [2][3] Group 2 - Fluent, Inc. has been a leader in performance marketing since 2010, providing customer acquisition and partner monetization solutions [4] - The company utilizes diverse ad inventory and untapped channels to connect brands with consumers effectively [4] - Fluent's innovative approach aims to unlock additional revenue streams for partners and help advertisers acquire valuable customers at scale [4] Group 3 - GVIC is an investment management firm founded in 2007, focusing on disciplined, value-oriented investment principles [5][6] - The firm is 100% employee-owned and provides portfolio management services to individual and institutional clients [6]

Core Insights - Fluent, Inc. has expanded its commerce media network by adding several new media partners, indicating growth in its Commerce Media Solutions [1][2] - The company aims to enhance customer experiences and generate new revenue streams for partners through personalized advertising [2][3] - The commerce media sector is projected to grow to $100 billion within five years, representing over 25% of digital media spending by 2026 [4] Company Performance - Fluent's Commerce Media Solutions reported a 341% year-over-year revenue increase in Q3 2024, rising to $10.4 million from $2.3 million in Q3 2023 [5] - The annual recurring revenue run rate for Fluent's Commerce Media Solutions exceeds $50 million, showcasing strong traction in the commerce media market [5] - The company leverages a first-party identity graph and AI-driven algorithms to enhance ad relevance and boost conversions [3][5]

NEW YORK, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT) (“Fluent”), a leader in performance marketing, today announced that it has entered into a definitive agreement for the purchase and sale of 2,483,586 shares of its common stock at a purchase price of $2.3152 per share of common stock in a registered direct offering (the “Registered Direct Offering”). In addition, in a concurrent private placement, Fluent will issue unregistered pre-funded warrants to purchase up to 1,187,802 shares of i ...

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]