Fluent, Inc. (FLNT) Financial Statements
Industry: Advertising (Services)
In fiscal 2025, Fluent reported revenue of $208.8M, down 18.0% from $254.6M the year before. Net income was -$27.2M (a -13.0% net margin), or -$1.05 per diluted share. Gross margin was -9.7% and operating margin was -9.7%. Operating activities generated -$1.5M of cash, leaving -$1.5M of free cash flow. At fiscal year end, Fluent held $89.1M in total assets against $70.9M in total liabilities, including $12.9M of cash and equivalents.
Open the full interactive Fluent financials → Quarterly statements, key ratios, valuation history and price charts.
Fluent Key Stats
| Share Price | $2.69 |
|---|---|
| Market Cap | $84.9M |
| Revenue YoY Growth | -18.0% |
| 52-Week Range | $1.72 – $4.27 |
| Shares Outstanding | 31.5 million (basic, 2026 Q2) |
Fluent Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $310.7M | $329.2M | $361.1M | $298.4M | $254.6M | $208.8M |
| Cost of Goods Sold | $302.3M | $333.9M | $480.7M | $358.5M | $278.3M | $229.1M |
| Gross Profit | $8.4M | -$4.7M | -$119.6M | -$60.1M | -$23.7M | -$20.3M |
| Operating Income | $8.4M | -$4.7M | -$119.6M | -$60.1M | -$23.7M | -$20.3M |
| Pre-Tax Income | $3.0M | -$9.8M | -$121.6M | -$63.3M | -$31.1M | -$27.2M |
| Income Tax | $822,000 | $246,000 | $1.8M | -$116,000 | -$1.8M | -$2,000 |
| Net Income | $2.2M | -$10.1M | -$123.3M | -$63.2M | -$29.3M | -$27.2M |
| Diluted EPS | $0.18 | -$0.78 | -$9.06 | -$4.62 | -$1.80 | -$1.05 |
Fluent Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $47.0M | $61.8M | $44.9M | $48.4M |
| Net Income | -$7.6M | -$4.1M | -$5.4M | -$6.2M |
| Diluted EPS | -$0.27 | -$0.16 | -$0.17 | -$0.20 |
Fluent Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $21.1M | $34.5M | $25.5M | $15.8M | $9.4M | $12.9M |
| Current Assets | $86.2M | $107.2M | $92.2M | $78.4M | $66.0M | $67.5M |
| Total Assets | $310.2M | $318.2M | $184.0M | $111.9M | $93.6M | $89.1M |
| Current Liabilities | $50.2M | $57.9M | $50.2M | $49.2M | $64.7M | $65.0M |
| Total Long-Term Debt | $40.6M | $45.3M | $40.6M | $30.5M | $35.6M | $34.6M |
| Total Liabilities | $93.3M | $104.8M | $90.0M | $77.5M | $68.7M | $70.9M |
| Shareholders' Equity | $216.9M | $213.4M | $94.0M | $34.4M | $25.0M | $18.2M |
Fluent Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $20.3M | $12.4M | $2.0M | $8.1M | -$14.1M | -$1.5M |
| Cash From Investing | -$4.3M | -$3.0M | -$5.4M | -$7.1M | -$6.2M | -$6.4M |
| Cash From Financing | -$13.6M | $2.5M | -$5.4M | -$10.8M | $15.2M | $10.8M |
| Free Cash Flow | $20.2M | $12.4M | $1.9M | $8.1M | -$14.1M | -$1.5M |
Figures from Fluent's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Fluent financials page for every line item.
Fluent Company Profile
| Ticker | FLNT |
|---|---|
| Exchange | Nasdaq |
| Industry | Advertising (Services) |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001460329 |
Frequently Asked Questions
What was Fluent's revenue in fiscal 2025?
Fluent (FLNT) reported revenue of $208.8M for fiscal 2025.
What is Fluent's annual revenue history?
Fluent's annual revenue by fiscal year: 2020: $310.7M; 2021: $329.2M; 2022: $361.1M; 2023: $298.4M; 2024: $254.6M; 2025: $208.8M.
What was Fluent's net income in fiscal 2025?
Fluent reported net income of -$27.2M for fiscal 2025.
What was Fluent's earnings per share (EPS) in fiscal 2025?
Fluent's diluted EPS was -$1.05 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Fluent generate in fiscal 2025?
Fluent generated -$1.5M of free cash flow in fiscal 2025.
What was Fluent's revenue last quarter?
In its most recent reported quarter (2026 Q2), Fluent reported revenue of $48.4M.
How much debt does Fluent have?
Fluent reported $34.6M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Fluent are outstanding?
Fluent reported a weighted average of 31.5 million basic shares outstanding in 2026 Q2.
What is Fluent's market cap?
Based on its latest closing price, Fluent (FLNT) has a market capitalization of about $84.9M.
When does Fluent's fiscal year end?
Fluent's fiscal year end, as registered with the SEC, is December 31.
Where is Fluent headquartered?
Fluent lists its business address in New York, New York in its SEC filings.