Fluent, Inc. (FLNT) Earnings History

Fluent, Inc. - Q3 FY2025 Earnings

Filed at: Nov 13, 2025, 4:30 PM EST|Read from source

EXECUTIVE SUMMARY

Fluent reported a mixed Q3 2025 with significant growth in its Commerce Media Solutions segment, which now represents 40% of revenue and has an annual run rate exceeding $85 million. While overall revenue declined YoY, the company expects adjusted EBITDA profitability in Q4 2025 and full-year double-digit revenue growth in 2026.

POSITIVE HIGHLIGHTS

  • •

    Commerce Media Solutions revenue grew 81% to $18.8 million, now representing 40% of consolidated revenue, up from 16% in Q3 2024.

    positive
  • •

    Commerce Media Solutions annual revenue run rate now exceeds $85 million.

    positive
  • •

    Commerce Media Solutions gross margin improved sequentially by 400 basis points to 22% in Q3 2025.

    positive
  • •

    Expects adjusted EBITDA profitability in Q4 2025 and full-year double-digit revenue growth and profitability in 2026.

    positive
  • •

    Entered new partnerships with Authentic Brands and Databricks, and hired new leadership to scale data intelligence capabilities.

    positive
  • •

    Rebuy Monetize powered by Fluent saw over one million ad unit sessions in September, a 79% MoM increase.

    positive

CONCERNS & RISKS

  • •

    Consolidated revenue decreased 27% YoY to $47.0 million in Q3 2025.

    negative
  • •

    Owned and Operated revenue decreased 52% YoY to $20.7 million as the company shifts focus.

    negative
  • •

    Net loss widened to $7.6 million in Q3 2025 from $7.9 million in Q3 2024, despite revenue decline.

    attention
  • •

    Adjusted EBITDA loss of $3.4 million in Q3 2025, compared to a loss of $71 thousand in Q3 2024.

    negative
  • •

    Gross profit margin (exclusive of D&A) decreased to 23% in Q3 2025 from 24% in Q3 2024.

    attention
  • •

    Media margin decreased to 27% of revenue in Q3 2025 from 28% in Q3 2024.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$47.03M
-27.1%
Prior year: $64.52M
Annual (YTD)
$146.94M
N/A
Prior year: $189.22M
Net Income
Quarterly
$-7.56M
-4.9%
Prior year: $-7.94M
Annual (YTD)
$-23.05M
N/A
Prior year: $-25.85M
EPS (Diluted)
Quarterly
$-0.27
-43.8%
Prior year: $-0.48
Annual (YTD)
$-0.94
N/A
Prior year: $-1.75
Operating Income
Quarterly
$-6.30M
-62.1%
Prior year: $-3.89M
Annual (YTD)
$-20.48M
N/A
Prior year: $-18.22M
EPS (Basic)
Quarterly
$-0.27
-43.8%
Prior year: $-0.48
Annual (YTD)
$-0.94
N/A
Prior year: $-1.75

MARGIN ANALYSIS

Gross Margin
Current Quarter
23.1%
Prior Year
24.3%
YoY Change
-114 bps
Operating Margin
Current Quarter
-13.4%
Prior Year
-6.0%
YoY Change
-737 bps
Net Margin
Current Quarter
-16.1%
Prior Year
-12.3%
YoY Change
-376 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

MANAGEMENT GUIDANCE

FY 2025

revenue
"double-digit growth expected"

FY 2026

adjusted_ebitda
"profitability expected"

Q4 2025

adjusted_ebitda
"profitability expected"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Commerce Media Solutions is well positioned to achieve full-year triple digit growth compared to full year 2024.

— Fluent, Inc., Q3 FY2025 2025 Earnings Call

Commerce Media Solutions is expected to surpass the legacy Owned and Operated business as the main contributor to consolidated revenues in Q4 2025.

— Fluent, Inc., Q3 FY2025 2025 Earnings Call

New partnerships with Authentic Brands and Databricks, along with new leadership, are expected to strengthen Commerce Media Solutions.

— Fluent, Inc., Q3 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Commerce Media Solutions Annual Revenue Run Rate
85.0M
dollars
Commerce Media Solutions Gross Profit Pct
21.7
Prior year: 31.1
Commerce Media Solutions Media Margin Pct
24.5
Prior year: 33.6
Commerce Media Solutions Revenue
18.8M
+81.5% YoY
Prior year: 10.4M
Owned And Operated Revenue
20.7M
-52.4% YoY
Prior year: 43.5M
Rebuy Monetize Ad Unit Sessions
1.0M
sessions

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.