|FLNT Overview
FLNT

Fluent, Inc.

Technology • CIK: 0001460329

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Market Cap
$52.21M
P/E (TTM)
-2.2x
Rev Growth (TTM)
-18.9%
Net Margin (TTM)
-12.5%
FCF Yield (TTM)
-12.3%
FCF Margin (TTM)
-3.0%

LATEST EARNINGS

Q3 FY2025
4 months ago
View source
Revenue
$47.03M
-27.1%
Net Income
$-7.56M
-4.9%
EPS
$-0.27
-43.8%
Gross
23.1% -1.1%
Operating
-13.4% -7.4%
Net
-16.1% -3.8%
  • Commerce Media Solutions revenue grew 81% to $18.8 million, now representing 40% of consolidated revenue, up from 16% in Q3 2024.
  • Commerce Media Solutions annual revenue run rate now exceeds $85 million.
  • Commerce Media Solutions gross margin improved sequentially by 400 basis points to 22% in Q3 2025.
  • Expects adjusted EBITDA profitability in Q4 2025 and full-year double-digit revenue growth and profitability in 2026.

Cash Flow Health

Free Cash Flow3/8 positive
TTM$-6M
Q '25
$-7M-883%
Q '25
$935000-56%
FCF Margin
TTM-3.0%
Q '25-15.6%-844%
Sector: 10.0%Below Avg
OCF Margin-3.0%
OCF/NI0.24x
CapEx Coverage
FCF Yield-12.3%
FCF Growth (2Y)
Cash Conversion Cycle
68 days
DSO: 68+DIO: DPO:

Capital Allocation & Returns

Total Shareholder Yield
TTM0.0%
Div Yield0.0%

Insufficient data

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$-6.4M
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
-55.1%
Volatile
-1.0% YoY-105.2%
P25MedianP75
25th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-11.4%
8Q: -10.1%
Asset Turnover
2.56x
8Q: 2.54x
Leverage (1+D/E)
2.21x
D/E: 1.21x
DuPont: -64.6%-55.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
865.86x
8Q:718.26x
+67435.8%
Invested Cap Turn
4.82x
8Q:4.89x
-110.6%
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ 2025Q 2025Q 2025Q4 2024Q 2024Q 2024Q 2024Q4 2023
Revenue
$212.4M
$47.0M5.2%
$44.7M19.0%
$55.2M15.6%
$65.4M1.4%
$64.5M9.9%
$58.7M11.0%
$66.0M9.3%
$72.8M
Operating Income
$-25.9M
$-6.3M11.3%
$-7.1M0.4%
$-7.1M30.0%
$-5.4M39.9%
$-3.9M62.5%
$-10.4M162.5%
$-4.0M121.8%
$-1.8M
Net Income
$-26.5M
$-7.6M4.6%
$-7.2M12.6%
$-8.3M141.1%
$-3.4M56.8%
$-7.9M31.7%
$-11.6M85.3%
$-6.3M230.5%
$-1.9M
Operating Cash Flow
$-6.4M
$-7.3M881.2%
$935.0K55.7%
$2.1M198.6%
$-2.1M273.2%
$1.2M109.5%
$-13.1M9799.2%
$-132.0K91.5%
$-1.6M
Free Cash Flow
$-6.4M
$-7.3M883.0%
$935.0K55.7%
$2.1M198.1%
$-2.2M274.3%
$1.2M109.5%
$-13.1M9799.2%
$-132.0K91.5%
$-1.6M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
-2.2x
Valuation Lenses
Earnings
-2.2x
vs sector
Cash Flow
-11.6x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
P/E per %ROIC
ROIC: -55.1%
Shareholder Returns
Dividend
Buyback
Total Yield
Market Cap$52.21M
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
-170/100
Below Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Top 10%
-1.2%
8Q:
Return on Invested Capital (ROIC)Below Avg
-55.1%
8Q:
-105.2%
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: -11.4%
Asset Turnover: 2.56x

Earnings Quality

Cash Conversion

0.24x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin100.0%

Capital Efficiency

Invested Capital Turnover4.82x

Working Capital

Cash Conversion Cycle68 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
31/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
-18.9%
OpInc Growth YoY
-62.1%
EPS Growth YoY
44.2%
FCF 3Y CAGR
N/A

Growth Quality Analysis

Sustainability Index: 3.0/10 - Growth sustainability concerns

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
100.0%
Operating
-12.2%
Above Avg in sector
Net
-12.5%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+9.5 pts
FCF: -3.0% | Net: -12.5%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Leveraged
Net Debt / EBITDA
Net Debt: $16.79M
Interest Coverage
Leverage Metrics
Debt-to-Equity
1.21x
Balance sheet risk & solvency analysis