Fluent Pronounces Unaudited Fourth Quarter and Full-Yr

• Income of $61.8 million for This fall 2025 and $208.8 million for FY 2025
• This fall 2025 Commerce Media Options income grew 101% to $34.7 million (56% of consolidated income) from $17.2 million (26% of income) in This fall 2024 with gross revenue margin (unique of depreciation and amortization) of 33% in This fall 2025 in comparison with 30% for the consolidated enterprise
• Commerce Media Options annual income run fee now exceeds $105 million, with media margin of 30% reflecting a sequential enchancment of $20 million and 5 foundation factors, respectively, in comparison with Q3 2025
• Anticipate double-digit income development on mixture persevering with enterprise and adjusted EBITDA enchancment for full 12 months 2026

NEW YORK, March 09, 2026 (GLOBE NEWSWIRE) — Fluent, Inc. (NASDAQ: FLNT), a commerce media options firm, at the moment reported unaudited outcomes for the fourth quarter and monetary 12 months ended December 31, 2025. These outcomes are preliminary and topic to ongoing audit procedures.

Donald Patrick, Fluent’s Chief Government Officer, commented, “Fourth quarter outcomes demonstrated the continued momentum of Commerce Media Options, which grew 101% year-over-year and represented 56% of consolidated income, up from 26% within the prior 12 months interval. We achieved optimistic adjusted EBITDA within the quarter, a milestone that displays each the progress of our strategic pivot to commerce media and our concentrate on expense self-discipline.”

Mr. Patrick continued, “Throughout 2025 we added a number of high-profile companions, together with Genuine Manufacturers Group, a main sports activities, life-style, and leisure model proprietor, with a portfolio that generates greater than $32 billion in world annual retail gross sales. We additionally partnered with Rebuy to launch Rebuy Monetize powered by Fluent, bringing our AI-powered advertiser market to retailers on the Shopify platform. Our new enterprise pipeline is powerful, and we stay up for asserting extra partnerships in 2026.

“We additionally took decisive steps to strengthen our monetary place and sharpen our strategic focus. In August, we closed a $10.3 million non-public placement that improved our liquidity and launched new institutional shareholders. And in November we entered into a brand new financing settlement that gives better borrowing flexibility. Moreover, subsequent to the shut of the fourth quarter, we accomplished the sale of our Name Options subsidiary, permitting us to reallocate sources to the expansion of Commerce Media Options.

“As we enter 2026, we are centered on scaling Commerce Media Options throughout new verticals and returning gross margins into the mid-twenties as our newer partnerships and placements mature. We count on to ship a monetary trendline shift to double-digit consolidated income development on a persevering with operations foundation, and improved full 12 months adjusted EBITDA,” Mr. Patrick concluded.

Fourth Quarter Highlights (Unaudited)

• Income of $61.8 million, a lower of 5.5% in comparison with $65.4 million in This fall 2024
  • Owned and Operated income decreased 44% to $21.3 million in comparison with $38.2 million in This fall 2024 because the Firm continued its shift in focus and income combine to Commerce Media Options
  • Commerce Media Options income elevated 101% to $34.7 million in comparison with $17.2 million in This fall 2024
• Internet lack of $4.1 million, or $0.13 per share, in comparison with web lack of $3.4 million, or $0.19 per share, for This fall 2024
• Gross revenue (unique of depreciation and amortization) of $18.7 million, a rise of 34.1% over This fall 2024 and representing 30% of income. Commerce Media Options enterprise reported gross revenue (unique of depreciation and amortization) of $11.3 million, representing 33% of income, for This fall 2025, down from 39% of income in This fall 2024. Gross revenue (unique of depreciation and amortization) was positively affected by a one-time non-media income adjustment of $4.3 million in reference to an early termination settlement settlement with a commerce media accomplice.
• Media margin of $19.1 million, a rise of 15.6% over This fall 2024 and representing 30.9% of income. Commerce Media Options enterprise reported media margins of 30.0% for This fall 2025, down from 39.3% in This fall 2024.
• Adjusted EBITDA of $0.2 million, a rise of $1.9 million in comparison with This fall 2024 and representing 0.3% of income
• Adjusted web lack of $2.8 million, or $0.09 per share, in comparison with adjusted web lack of $3.3 million, or $0.18 per share, for This fall 2024

Full-Yr 2025 Highlights (Unaudited)

• Income of $208.8 million, a lower of 18.0% in comparison with $254.6 million in 2024
  • Owned and Operated income decreased 44% to $94.5 million in comparison with $168.4 million in 2024 because the Firm executed its shift in focus and income combine to Commerce Media Options 
  • Commerce Media Options income elevated 99% to $82.3 million in comparison with $41.3 million in 2024
• Internet lack of $27.2 million, or $1.05 per share, in comparison with web lack of $29.3 million, or $1.80 per share, for the prior 12 months. 
• Gross revenue (unique of depreciation and amortization) of $51.2 million, a lower of 15.7% over 2024 and representing 25% of income. Commerce Media Options enterprise reported gross revenue (unique of depreciation and amortization) of $21.1 million, representing 26% of income, for the twelve months ended December 31, 2025, down from 35% of income, for the twelve months ended December 31, 2024. Gross revenue (unique of depreciation and amortization) was positively affected within the 2025 interval by an mixture of $4.3 million in reference to the one-time termination settlement settlement described above.
• Media margin of $57.6 million, a lower of 20.6% over prior 12 months and representing 27.6% of income. Commerce Media Options enterprise reported media margins of 26.0% for 2025, down from 35.1% for 2024
• Adjusted EBITDA of unfavorable $9.0 million, a lower of $3.4 million in comparison with 2024 and representing 4.3% of income
• Adjusted web lack of $21.8 million, or $0.84 per share, in comparison with adjusted web lack of $18.5 million, or $1.14 per share, for the prior 12 months

Media margin, adjusted EBITDA, and adjusted web earnings (loss) are non-GAAP monetary measures, as outlined and reconciled under. 

Enterprise Outlook & Targets

• Speed up development by enlargement of Fluent’s commerce media accomplice community by including top-tier companions throughout new verticals together with journey, life-style, and residential companies, constructing on the momentum of partnerships signed in 2025.
• Enhance Commerce Media Options gross margins by leveraging AI capabilities, proprietary first-party information, and 15-year management place on the forefront of buyer acquisition to extend monetization of commerce media placements, with the goal of returning gross margin to the mid-twenties.
• Drive consolidated income development and improved profitability. Given present visibility, the Firm expects full-year double-digit consolidated income development on mixture persevering with enterprise foundation and improved full-year adjusted EBITDA in 2026.

Convention Name

Fluent, Inc. will host a convention name on Monday, March 9, 2026, at 4:30 PM ET to debate its 2025 fourth quarter and full-year monetary outcomes. The convention name will be accessed by telephone after registering on-line at https://register-conf.media-server.com/register/BId7dadf004e5246718d831220a965dcd6. The decision will even be webcast concurrently on the Fluent web site at https://buyers.fluentco.com/. Following the completion of the earnings name, a recorded replay of the webcast will probably be accessible for these unable to take part. To hearken to the phone replay, please join through https://edge.media-server.com/mmc/p/t5n7v99p. The replay will probably be accessible for one 12 months, through the Fluent web site https://buyers.fluentco.com. 

About Fluent, Inc.

Fluent, Inc. (NASDAQ: FLNT) is a commerce media options supplier connecting top-tier manufacturers with extremely engaged customers. Leveraging unique advert stock, strong first-party information, and proprietary machine studying, Fluent unlocks extra income streams for companions and empowers advertisers to amass their most respected prospects at scale. Based in 2010, Fluent makes use of its deep experience in efficiency advertising to drive monetization and enhance engagement at key touchpoints throughout the client journey. For extra insights go to http://www.fluentco.com/.

Secure Harbor Assertion Beneath the Personal Securities Litigation Reform Act of 1995

The issues contained on this press launch could also be thought of to be “forward-looking statements” inside the which means of the Securities Act of 1933 and the Securities Trade Act of 1934. These statements embody statements relating to the intent, perception or present expectations or anticipations of Fluent and members of our administration group. Components at the moment recognized to administration that would trigger precise outcomes to vary materially from these in forward-looking statements embody the next:

• Means to function in a aggressive, quickly altering and extremely regulated trade, which makes it troublesome to guage our enterprise and prospects;
• Dependence on the gaming trade;
• Unfavorable publicity and unfavorable public notion concerning the digital advertising trade;
• A sudden discount in on-line advertising spend by our purchasers, a lack of purchasers or decrease promoting yields;
• Credit score threat from sure purchasers;
• Our relative inexperience within the post-transaction commerce media enterprise, which is at the moment dominated by a significant participant;
• Our must proceed investing in expertise for our Commerce Media Options enterprise;
• Our aggressive drawback as a consequence of our extra selective method to site visitors sources;
• A decline within the provide of media accessible to us by third events or a rise within the value of such media;
• Majority of customers entry media by cellular units making us depending on cellular platforms and system suppliers;
• Potential lack of competitiveness as a consequence of limitations in our cellular software and CRM dependence;
• Challenges scaling infrastructure and merchandise to assist development whereas sustaining profitability;
• International financial or political instability, together with the potential affect of tariffs, inflation, rates of interest, navy conflicts and different geopolitical developments, together with the continuing navy conflicts within the Center East;
• Challenges managing the complexity of our worldwide operations and workforce;
• Strategic alternate options that would complicate operations or divert administration’s consideration;
• Dependence on our key personnel and talent to draw or retain staff;
• Dependence upon third-party service suppliers and potential legal responsibility associated to their actions or platform malfunctions;
• Compliance with a major variety of governmental legal guidelines and laws, together with these relating to telemarketing, electronic mail advertising, textual content messaging, privateness, and information safety;
• The end result of litigation, regulatory investigations, or different authorized proceedings by which we’re concerned or could turn into concerned, or by which our purchasers or opponents are concerned;
• Potential gross sales and use taxes and different taxes on our enterprise;
• Our precise or perceived failure to safeguard any private info or person privateness; 
• Failure to adequately shield mental property rights or allegations of infringement of mental property rights;
• Potential legal responsibility or bills for authorized claims based mostly on the character and content material of the supplies we create or distribute, together with these supplied by third events, as a creator and a distributor of digital media content material;
• Our potential entry to extra capital sooner or later could also be restricted or unavailable on acceptable phrases;
• Means to keep up itemizing of our securities on The Nasdaq Capital Market;
• Volatility of our inventory value and affect on our buyers;
• Potential dilutive impact of any future issuances of shares of our frequent inventory;
• Lack of money dividends for the foreseeable future; and
• Standing of a smaller reporting firm and non-accelerated filer, which includes sure decreased governance and disclosure necessities.

These and extra components to be thought of are set forth beneath “Danger Components” in our Annual Report on Type 10-Ok for the fiscal 12 months ended December 31, 2025 and in our different filings with the Securities and Trade Fee. Fluent undertakes no obligation to replace or revise forward-looking statements to mirror modified assumptions, the prevalence of unanticipated occasions or modifications to future working outcomes or expectations, besides as required by regulation.

Definitions, Reconciliations and Makes use of of Non-GAAP Monetary Measures

The next non-GAAP measures are used on this launch:

Media margin is outlined as that portion of gross revenue (unique of depreciation and amortization) reflecting variable prices paid for media and associated bills and excluding non-media value of income and one-time gadgets. Gross revenue (unique of depreciation and amortization) represents income minus value of income (unique of depreciation and amortization). Media margin can be introduced as a proportion of income.

Adjusted EBITDA is outlined as web earnings (loss), excluding (1) earnings taxes, (2) curiosity expense, web, (3) depreciation and amortization, (4) share-based compensation expense, (5) loss on early extinguishment of debt, (6) goodwill impairment, (7) impairment of intangible property, (8) honest worth adjustment of Convertible Notes with associated events, (9) acquisition-related prices, (10) restructuring and different severance prices, (11) sure litigation and different associated prices, and (12) different one-time gadgets.

Adjusted web earnings (loss) is outlined as web earnings (loss) excluding (1) Share-based compensation expense, (2) loss on early extinguishment of debt, (3) goodwill impairment, (4) impairment of intangible property, (5) honest worth adjustment of Convertible Notes with associated events, (6) acquisition-related prices, (7) restructuring and different severance prices, (8) sure litigation and different associated prices, and (9) different one-time gadgets. Adjusted web earnings (loss) can be introduced on a per share (fundamental and diluted) foundation.

We contemplate gadgets one-time in nature if they’re non-recurring, rare or uncommon and haven’t occurred previously two years or aren’t anticipated to recur within the subsequent two years, in accordance with SEC guidelines.

Beneath is a reconciliation of media margin from gross revenue (unique of depreciation and amortization), which we imagine is probably the most immediately comparable U.S. GAAP measure.

(1) Represents the portion of value of income (unique of depreciation and amortization) not attributable to variable prices paid for media and associated bills. 
(2) Features a one-time non-media income adjustment of ($4,254) in reference to an early termination settlement settlement with a media accomplice.

Beneath is a reconciliation of media margin from gross revenue (unique of depreciation and amortization), which we imagine is probably the most immediately comparable U.S. GAAP measure, for Commerce Media Options.

(1) Represents the portion of value of income (unique of depreciation and amortization) not attributable to variable prices paid for media and associated bills. 
(2) Features a one-time non-media income adjustment of ($4,254) in reference to an early termination settlement settlement with a media accomplice.

Beneath is a reconciliation of adjusted EBITDA from web earnings (loss), which we imagine is probably the most immediately comparable U.S. GAAP measure.

(1) Steadiness consists of compensation expense associated to non-competition agreements and earn-out expense incurred on account of enterprise mixtures, and non-cash loss on asset write-offs.  The earn-out expense was ($21) and ($69) for the three months ended December 31, 2025 and 2024, respectively, and ($169) and $98 for the 12 months ended December 31, 2025 and 2024, respectively. The non-compete agreements expense was $0 and $413 for the three months ended December 31, 2025 and 2024, respectively, and $413 and $1,650 for the 12 months ended December 31, 2025 and 2024, respectively; there have been different quantities of acquisition-related prices of $0 and $489 for the three months ended December 31, 2025 and 2024, respectively, and  $809 and $335 for the 12 months ended December 31, 2025 and 2024, respectively.
(2) Features a one-time non-media income adjustment of ($4,254) in reference to an early termination settlement settlement with a media accomplice.

Beneath is a reconciliation of adjusted web loss and the associated measure of adjusted web loss per share from web earnings (loss), which we imagine is probably the most immediately comparable U.S. GAAP measure.

(1) Steadiness consists of compensation expense associated to non-competition agreements and earn-out expense incurred on account of enterprise mixtures, and non-cash loss on asset write-offs.  The earn-out expense was ($21) and ($69) for the three months ended December 31, 2025 and 2024, respectively, and ($169) and $98 for the 12 months ended December 31, 2025 and 2024, respectively. The non-compete agreements expense was $0 and $413 for the three months ended December 31, 2025 and 2024, respectively, and $413 and $1,650 for the 12 months ended December 31, 2025 and 2024, respectively; there have been different quantities of acquisition-related prices of $0 and $489 for the three months ended December 31, 2025 and 2024, respectively, and  $809 and $335 for the 12 months ended December 31, 2025 and 2024, respectively.
(2) Features a one-time non-media income adjustment of ($4,254) in reference to an early termination settlement settlement with a media accomplice.

We current media margin, adjusted EBITDA, and adjusted web earnings as supplemental measures of our monetary and working efficiency as a result of we imagine they supply helpful info to buyers. Extra particularly:

Media margin, as outlined above, is a measure of the effectivity of the Firm’s working mannequin. We use media margin and the associated measure of media margin as a proportion of income as main metrics to measure the monetary return on our media and associated prices, particularly to measure the diploma by which the income generated from our digital advertising companies exceeds the fee to draw the customers to whom provides are made by our companies. Media margin is used extensively by our administration to handle our working efficiency, together with evaluating operational efficiency towards budgeted media margin and understanding the effectivity of our media and associated expenditures. We additionally use media margin for efficiency evaluations and compensation choices relating to sure personnel.

Adjusted EBITDA, as outlined above, is one other main metric by which we consider the working efficiency of our enterprise, on which sure working expenditures and inside budgets are based mostly and by which, along with media margin and different components, our senior administration is compensated. The primary three changes symbolize the standard definition of EBITDA, and the remaining changes are gadgets acknowledged and recorded beneath U.S. GAAP specifically durations however is perhaps considered as not essentially coinciding with the underlying enterprise operations for the durations by which they’re so acknowledged and recorded. These changes embody sure litigation and different associated prices related to authorized issues outdoors the odd course of enterprise.

Adjusted web earnings (loss), as outlined above, excludes sure gadgets which might be acknowledged and recorded beneath U.S. GAAP specifically durations however is perhaps considered as not essentially coinciding with the underlying enterprise operations for the durations by which they’re so acknowledged and recorded. We imagine adjusted web earnings (loss) affords buyers a distinct view of the general monetary efficiency of the Firm than adjusted EBITDA and the U.S. GAAP measure of web (loss) earnings.

Media margin, adjusted EBITDA, adjusted web earnings (loss), and adjusted web earnings (loss) per share are non-GAAP monetary measures with sure limitations relating to their usefulness. They do not mirror our monetary leads to accordance with U.S. GAAP, as they don’t embody the affect of sure bills which might be mirrored in our condensed consolidated statements of operations. Accordingly, these metrics aren’t indicative of our total outcomes or indicators of previous or future monetary efficiency. Additional, they aren’t monetary measures of profitability and are neither supposed for use as a proxy for the profitability of our enterprise nor to indicate profitability. The best way we measure media margin, adjusted EBITDA, and adjusted web earnings (loss) will not be corresponding to equally titled measures introduced by different corporations and will not be similar to corresponding measures utilized in our varied agreements.

Annual Income Run Fee

Annual Income Run Fee is an operational metric that represents the annualized income of the Firm’s media partnerships at present monetization ranges, as of the tip of the reporting interval. The Firm calculates Annual Income Run Fee as follows:

• Media companions inside Commerce Media Options with an lively contract are assessed and assigned an annual media quantity estimate based mostly on the lively time period of the contract and the monetization fee on the finish of the reporting interval. The Firm considers a media accomplice contract to be lively when the contractual time period commences (the “begin date”) till its proper to serve the accomplice’s commerce site visitors ends. Even when the contract with the client is executed earlier than the beginning date, the contract won’t rely towards Annual Income Run Fee till the media accomplice’s proper to obtain the advantage of the companies has commenced.
• As Annual Income Run Fee consists of solely contracts which might be lively on the finish of the reporting interval, it doesn’t mirror assumptions or estimates relating to new enterprise. For contracts expiring inside 12 months of the period-end calculation date, Annual Income Run Fee does mirror expectations of renewal.
• The Firm’s Commerce Media Options platform gives the expertise to successfully monetize the accomplice’s media by inserting related adverts at a contracted second of shopper engagement. Though from inception up to now, enhancements within the platform’s AI-powered expertise have persistently pushed elevated charges of monetization, for the aim of Annual Income Run Fee, the Firm assumes a constant monetization degree to that as measured on every media accomplice on the finish of the reporting interval.

The best way the Firm measures Annual Income Run Fee will not be corresponding to equally titled measures introduced by different corporations and shouldn’t be considered as a projection of future income.

Contact Info: 
Investor Relations
Fluent, Inc.
[email protected]