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Fluent Announces听Second Quarter听2025 Financial Results; Commerce Media Solutions Annual Revenue Run Rate Exceeds $80 Million

NEW YORK, Aug. 19, 2025 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a commerce media solutions provider, today reported unaudited financial results for the听second quarter ended June 30, 2025.

Don Patrick, Chief Executive Officer of Fluent, commented, "We saw continued strong performance from our Commerce Media Solutions business with revenue growth of 121% year-over-year and run rate growth of 23% compared to the first quarter of 2025. We expect to continue to drive substantial growth through the back half of the year as we go live with top-tier media partners like Authentic Brands Group. Commerce Media Solutions margins were lower than historical levels in the second quarter as we strategically expanded into new placements beyond post-transaction and offered early-term contract incentives to secure some longer-term media partner contracts. We expect margins to normalize over time as we continue to expand our list of top-tier media partners.

鈥淎s expected, owned and operated revenue declined in the quarter as we reallocate resources towards Commerce Media Solutions. As a percentage of revenue, Commerce Media Solutions contributed 36% to total revenue in the second quarter as compared to 23% of total revenue in the first quarter of 2025, demonstrating encouraging sequential growth. We expect Commerce Media Solutions to become the majority revenue contributor in the second half of 2025, representing a key milestone and inflection point for our business."

Mr. Patrick concluded, "We are achieving meaningful progress and demonstrated success with our long-term growth strategy听and remain committed to driving enhanced growth and value for our shareholders as we move into the second half of 2025. With our visibility today, we expect adjusted EBITDA profitability in the fourth quarter of 2025, as well as full-year double-digit consolidated revenue growth and full-year adjusted EBITDA profitability in 2026.鈥澨� 听

Second听Quarter Financial Highlights

Six Months Ended June 30, 2025听Financial Highlights

Business Outlook & Goals

Conference Call

Fluent, Inc. will host a conference call on Tuesday, August 19,听2025,听at 4:30 PM ET听to discuss its听2025听second quarter financial results.听The conference call can be accessed by phone after registering online听at听. The call will also be webcast simultaneously on the Fluent website at .听Following the completion of the earnings call, a recorded replay of the webcast will be available for those unable to participate. To listen to the telephone replay, please connect via听.听The replay will be available for one year, via the Fluent website听.

About Fluent, Inc.

Fluent, Inc. (NASDAQ: FLNT) is a commerce media solutions provider connecting top-tier brands with highly engaged consumers. Leveraging exclusive ad inventory, robust first-party data, and proprietary machine learning, Fluent unlocks additional revenue streams for partners and empowers advertisers to acquire their most valuable customers at scale. Founded in 2010, Fluent uses its deep expertise in performance marketing to drive monetization and increase engagement at key touchpoints across the customer journey. For more insights visit听.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

The matters contained in this press release may be considered to be "forward-looking statements"听within the meaning of the Securities Act of 1933, as amended,听and the Securities Exchange Act of 1934, as amended. Such statements include statements regarding the intent, belief or current expectations or anticipations of Fluent and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following:

These and additional factors to be considered are set forth under "Risk Factors"听in our Annual Report on Form 10-K for the fiscal year ended听December 31, 2024 and in our other filings with the Securities and Exchange Commission. Fluent undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations, except as required by law.

Definitions, Reconciliations and Uses of Non-GAAP Financial Measures

The following non-GAAP measures are used in this release:

Media margin is defined as that portion of gross profit (exclusive of depreciation and amortization) reflecting听variable costs paid for media and related expenses and excluding non-media cost of revenue. Gross profit (exclusive of depreciation and amortization) represents revenue minus cost of revenue (exclusive of depreciation and amortization). Media margin is also presented as a percentage of revenue.

Adjusted EBITDA is defined as net income (loss), excluding (1)听income taxes, (2) interest expense, net, (3) depreciation and amortization, (4) share-based compensation expense, (5) loss on early extinguishment of debt, (6) goodwill impairment, (7) impairment of intangible assets, (8) fair value adjustment of Convertible Notes with related parties, (9) acquisition-related costs,听(10) restructuring and other severance costs, and (11) certain litigation and other related costs.

Adjusted net income is defined as net income听(loss)听excluding (1) share-based compensation expense, (2) loss on early extinguishment of debt, (3) goodwill impairment,听(4) impairment of intangible assets, (5) fair value adjustment of Convertible Notes with related parties (6) acquisition-related costs,听(7) restructuring and other severance costs, and (8) certain litigation and other related costs. Adjusted net听income is also presented on a per share (basic and diluted) basis.

Below is a reconciliation of media margin from gross profit (exclusive of depreciation and amortization), which we believe is the most directly comparable U.S. GAAP measure.

⁽¹⁾ Represents the portion of cost of revenue (exclusive of depreciation and amortization) not attributable to variable costs paid for media and related expenses.

Below is a reconciliation of media margin from gross profit (exclusive of depreciation and amortization),听which we believe is the most directly comparable U.S. GAAP measure, for Commerce Media Solutions.

⁽¹⁾ Represents the portion of cost of revenue (exclusive of depreciation and amortization) not attributable to variable costs paid for media and related expenses.

Below is a reconciliation of adjusted EBITDA from net loss, which we believe is the most directly comparable U.S. GAAP measure.

Below is a reconciliation of adjusted net听income and the related measure of adjusted net听income听per share from net income听(loss), which we believe is the most directly comparable U.S. GAAP measure.

We present media margin, adjusted EBITDA, and adjusted net income as supplemental measures of our financial and operating performance because we believe they provide useful information to investors. More specifically:

Media margin, as defined above, is a measure of the efficiency of the Company鈥檚 operating model. We use media margin and the related measure of media margin as a percentage of revenue as primary metrics to measure the financial return on our media and related costs, specifically to measure the degree by which the revenue generated from our digital marketing services exceeds the cost to attract the consumers to whom offers are made through our services. Media margin is used extensively by our management to manage our operating performance, including evaluating operational performance against budgeted media margin and understanding the efficiency of our media and related expenditures. We also use media margin for performance evaluations and compensation decisions regarding certain personnel.

Adjusted EBITDA, as defined above, is another primary metric by which we evaluate the operating performance of our business, on which certain operating expenditures and internal budgets are based and by which, in addition to media margin and other factors, our senior management is compensated. The first three听adjustments represent the conventional definition of EBITDA, and the remaining adjustments are items recognized and recorded under U.S. GAAP in particular periods but might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded. These adjustments include听certain litigation and other related costs associated with legal matters outside the ordinary course of business. We consider items one-time in nature if they are non-recurring, infrequent or unusual and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. There were no adjustments for one-time items in the periods presented.

Adjusted net income, as defined above, excludes certain items that are recognized and recorded under U.S. GAAP in particular periods but might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded. We believe adjusted net听income affords investors a different view of the overall financial performance of the Company than adjusted EBITDA and the U.S. GAAP measure of听net (loss) income.

Media margin, adjusted EBITDA, adjusted net income, and adjusted net income per share are non-GAAP financial measures with certain limitations regarding their听usefulness. They do听not reflect our financial results in accordance with U.S. GAAP, as they do not include the impact of certain expenses that are reflected in our condensed consolidated statements of operations. Accordingly, these metrics are not indicative of our overall results or indicators of past or future financial performance. Further, they are not financial measures of profitability and are听neither intended to be used as a proxy for the profitability of our business nor to imply profitability.听The way we measure media margin, adjusted EBITDA, and adjusted net income may not be comparable to similarly titled measures presented by other companies and may not be identical to corresponding measures used in our various agreements.

Annual Revenue Run Rate

Annual Revenue Run Rate is an operational metric听that represents the annualized revenue of the Company鈥檚 media partnerships at current monetization levels, as of the end of the reporting period. The Company calculates Annual Revenue Run Rate as follows:

The way the Company measures Annual Revenue Run Rate may not be comparable to similarly titled measures presented by other companies听and should not be viewed as a projection of future revenue.

Contact Information:听
Investor Relations
Fluent, Inc.
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