FLNT · Fluent, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.85M | - | $47.03M | $44.71M | $55.21M | - | $64.52M | $58.72M | $65.98M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $2.82M | - | $2.62M | $2.94M | $3.40M | - | $4.12M | $4.72M | $4.84M | - |
| SG&A | $5.71M | - | $8.56M | $8.75M | $8.58M | - | $9.07M | $8.86M | $10.37M | - |
| Total Operating Expenses | $48.76M | - | $53.33M | $51.81M | $62.29M | - | $68.40M | $69.09M | $69.94M | - |
| D&A | $1.68M | - | $2.48M | $2.48M | $2.46M | - | $2.37M | $2.57M | $2.57M | - |
| Operating Income | ($3.91M) | - | ($6.30M) | ($7.11M) | ($7.08M) | - | ($3.89M) | ($10.38M) | ($3.95M) | - |
| Interest Expense | $605.0K | - | $711.0K | $702.0K | $880.0K | - | $1.28M | $1.01M | $1.42M | - |
| Income Tax | $3.0K | - | ($12.0K) | ($107.0K) | $233.0K | - | ($35.0K) | ($775.0K) | $908.0K | - |
| Net Income | ($5.35M) | - | ($7.56M) | ($7.22M) | ($8.27M) | - | ($7.94M) | ($11.63M) | ($6.28M) | - |
| EPS - Basic | ($0.17) | - | ($0.27) | ($0.30) | ($0.39) | - | ($0.48) | ($0.75) | ($0.45) | - |
| EPS - Diluted | ($0.17) | - | ($0.27) | ($0.30) | ($0.39) | - | ($0.48) | ($0.75) | ($0.45) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.30M | $12.94M | $9.25M | $4.93M | $4.83M | $9.44M | $6.59M | $4.97M | $11.66M | $15.80M |
| Accounts Receivable | $20.04M | $28.50M | $32.13M | $31.23M | $37.02M | $46.53M | $52.63M | $55.06M | $53.42M | $56.53M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $7.48M | $7.20M | $9.38M | $8.71M | $8.51M | $8.78M | $7.90M | $7.81M | $8.83M | $10.95M |
| Current Assets | $49.43M | $67.47M | $49.55M | $46.95M | $51.23M | $65.95M | $66.28M | $67.14M | $71.42M | $78.41M |
| Total Assets | $72.27M | $89.13M | $76.06M | $74.47M | $77.49M | $93.62M | $95.94M | $98.50M | $103.58M | $111.87M |
| Current Liabilities | $52.21M | $65.03M | $48.42M | $49.65M | $51.66M | $64.68M | $70.41M | $69.54M | $73.53M | $49.21M |
| Long-term Debt | $4.57M | $3.73M | $3.88M | $3.32M | $3.80M | $3.97M | $5.36M | $750.0K | $0 | $25.49M |
| Total Liabilities | $58.98M | $70.92M | $54.47M | $55.35M | $55.46M | $68.66M | $75.97M | $71.04M | $74.83M | $77.46M |
| Stockholders' Equity | $13.29M | $18.21M | $21.59M | $19.12M | $22.04M | $24.95M | $19.98M | $27.45M | $28.75M | $34.40M |
| Retained Earnings | ($443.32M) | ($437.96M) | ($433.84M) | ($426.29M) | ($419.06M) | ($410.80M) | ($407.37M) | ($399.42M) | ($387.79M) | ($381.52M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.11M | - | - | - | $2.11M | - | - | - | ($132.0K) | - |
| Investing Cash Flow | ($1.48M) | - | - | - | ($1.57M) | - | - | - | ($1.80M) | - |
| Financing Cash Flow | ($6.27M) | - | - | - | ($5.15M) | - | - | - | ($2.22M) | - |
| CapEx | $57.0K | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | $5.05M | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -8.7% | - | -13.4% | -15.9% | -12.8% | - | -6.0% | -17.7% | -6.0% | - |
| EBITDA margin | -5.0% | - | -8.1% | -10.3% | -8.4% | - | -2.4% | -13.3% | -2.1% | - |
| Net margin | -11.9% | - | -16.1% | -16.2% | -15.0% | - | -12.3% | -19.8% | -9.5% | - |
| Free cash flow margin | 11.3% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | -0.94 | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 6.3% | - | 5.6% | 6.6% | 6.2% | - | 6.4% | 8.0% | 7.3% | - |
| SG&A / Revenue | 12.7% | - | 18.2% | 19.6% | 15.5% | - | 14.1% | 15.1% | 15.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -7.4% | - | -9.9% | -9.7% | -10.7% | - | -8.3% | -11.8% | -6.1% | - |
| Return on equity | -40.3% | - | -35.0% | -37.8% | -37.5% | - | -39.8% | -42.4% | -21.8% | - |
| Return on invested capital | -17.3% | - | -19.6% | -25.0% | -21.6% | - | -12.1% | -29.1% | -10.9% | - |
| Liquidity | ||||||||||
| Current ratio | 0.95 | 1.04 | 1.02 | 0.95 | 0.99 | 1.02 | 0.94 | 0.97 | 0.97 | 1.59 |
| Quick ratio | 0.95 | 1.04 | 1.02 | 0.95 | 0.99 | 1.02 | 0.94 | 0.97 | 0.97 | 1.59 |
| Cash ratio | 0.20 | 0.20 | 0.19 | 0.10 | 0.09 | 0.15 | 0.09 | 0.07 | 0.16 | 0.32 |
| Leverage | ||||||||||
| Debt / Equity | 0.34 | 0.21 | 0.18 | 0.17 | 0.17 | 0.16 | 0.27 | 0.03 | 0.00 | 0.74 |
| Debt / Assets | 0.06 | 0.04 | 0.05 | 0.04 | 0.05 | 0.04 | 0.06 | 0.01 | 0.00 | 0.23 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -6.5x | - | -8.9x | -10.1x | -8.0x | - | -3.0x | -10.2x | -2.8x | - |
| Equity multiplier | 5.44 | 4.89 | 3.52 | 3.89 | 3.52 | 3.75 | 4.80 | 3.59 | 3.60 | 3.25 |
| Liabilities / Assets | 0.82 | 0.80 | 0.72 | 0.74 | 0.72 | 0.73 | 0.79 | 0.72 | 0.72 | 0.69 |
| Efficiency | ||||||||||
| Asset turnover | 0.62 | - | 0.62 | 0.60 | 0.71 | - | 0.67 | 0.60 | 0.64 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 163d | - | 249d | 255d | 245d | - | 298d | 342d | 296d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 7.5x | - | 2.9x | 2.5x | 2.1x | - | 3.0x | 2.0x | 1.4x | - |
| P / S | 2.2x | - | 1.3x | 1.1x | 0.8x | - | 0.9x | 1.0x | 0.6x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -18.8% | - | -27.1% | -23.9% | -16.3% | - | -2.6% | -28.5% | -14.6% | - |
| Revenue CAGR (3y) | -16.6% | - | -19.2% | -23.1% | -14.7% | - | -9.1% | -7.2% | -2.0% | - |
| Revenue CAGR (5y) | -8.6% | - | -9.7% | -9.0% | -6.9% | - | -0.0% | -3.6% | -0.2% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 44.8% | - | -62.1% | 31.5% | -79.0% | - | 88.5% | - | 87.3% | - |
| Net income growth (YoY) | 35.3% | - | 4.9% | 37.9% | -31.8% | - | 76.4% | - | 80.4% | - |
| EPS growth (YoY) | 56.4% | - | 43.7% | 60.0% | 13.3% | - | -17.1% | - | -15.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | 0.4% | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -39.7% | -27.0% | 8.0% | -30.3% | -23.3% | -27.5% | -43.7% | -59.7% | -54.3% | -63.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$201.54M totalFluent Segment$201.54M · 100.0%
Product / service
$208.76M totalOwned And Operated$94.51M · 45.3%
Commerce Media Solutions$82.27M · 39.4%
Call Solutions$24.77M · 11.9%
Ad Parlor$7.17M · 3.4%
Product And Service Other$47.0K · 0.0%
Geographic
$201.54M totalUS$129.69M · 64.3%
Non Us$71.85M · 35.7%
Peer comparison
Same SIC group: Services-Advertising
Comparing Fluent against the 5 most active filers in the same SIC group.