Fluent (FLNT) AI Stock Analysis

• Market Cap: $62.39M
• Dividend Yield: N/A
• Average Volume (3M): 44.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• Revenue Growth: -18.94%
• EPS Growth: 37.05%
• Country: US
• Employees: 208
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): -0.23
• Shares Outstanding: 30,287,598
• 10 Day Avg. Volume: 25,861
• 30 Day Avg. Volume: 44,252
• PEG Ratio: 0.02
• Price to Book (P/B): 1.64
• Price to Sales (P/S): 0.16
• P/FCF Ratio: -2.02
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 0.32
• Enterprise Value/Gross Profit: 1.47
• Enterprise Value/Ebitda: -5.71
• 1Y Price Target: $2.50
• Price Target Upside: 25.00% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $1.50 ▼(-25.00% Downside)

Fluent's overall stock score is primarily impacted by its poor financial performance and weak technical indicators. While there is potential for growth in commerce media solutions, the current financial instability and negative valuation metrics weigh heavily on the score.

Positive Factors

Commerce Media Growth

The rapid growth of the Commerce Media Solutions segment indicates a successful strategic pivot, potentially driving future revenue and profitability.

Strategic Partnerships

New partnerships with brands like Authentic Brands and Rebuy Engine enhance market reach and competitive positioning, supporting long-term growth.

Equity Financing

The equity financing strengthens the balance sheet, providing necessary capital to support strategic growth initiatives and improve financial stability.

Negative Factors

Revenue Decline

Significant revenue decline reflects challenges in maintaining market share and operational efficiency, potentially impacting long-term financial health.

High Leverage

High leverage increases financial risk, potentially limiting investment capacity and flexibility in navigating economic downturns.

Cash Flow Challenges

Persistent cash flow inefficiencies hinder the company's ability to fund operations and growth, posing a risk to long-term sustainability.

Fluent Business Overview & Revenue Model

Company Description

Fluent, Inc. provides data-driven digital marketing services primarily in the United States. The company operates through Fluent and All Other segments. It offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. The company also delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial products and services, media and entertainment, health and wellness, retail and consumer, and staffing and recruitment. Fluent, Inc. is headquartered in New York, New York.

How the Company Makes Money

Fluent generates revenue primarily through its performance-based marketing services. The company earns money by charging clients for leads generated through its marketing campaigns, which are often billed on a cost-per-action (CPA) basis. This means that clients pay Fluent when a specific action, such as a completed form or sale, occurs as a result of its marketing efforts. Additionally, Fluent may have partnerships with various advertisers and brands, enhancing its ability to reach diverse audiences and providing clients with valuable insights and analytics. The company's revenue model is also supported by recurring partnerships with large enterprises, which often leads to stable revenue streams through long-term contracts and collaboration on marketing initiatives.

Fluent Financial Statement Overview

Summary

Fluent's financial performance is concerning, with declining revenues, negative profitability, high leverage, and cash flow inefficiencies. These issues suggest a need for strategic restructuring to improve financial stability.

Income Statement

Fluent's income statement reveals declining revenue and negative profitability metrics. The TTM data shows a revenue decline of 7.6%, with negative EBIT and net profit margins indicating operational challenges. The gross profit margin has decreased over time, reflecting reduced efficiency in cost management. Overall, the income statement suggests significant financial difficulties and a need for strategic improvements.

Balance Sheet

The balance sheet indicates a high debt-to-equity ratio of 1.39 in the TTM period, suggesting financial leverage concerns. The return on equity is negative, highlighting profitability issues. The equity ratio has decreased, indicating a shrinking equity base relative to assets. These factors point to financial instability and potential risks in maintaining financial health.

Cash Flow

Cash flow analysis shows negative operating and free cash flows in the TTM period, with a slight improvement in free cash flow growth. However, the operating cash flow to net income ratio is low, indicating inefficiencies in converting income into cash. The free cash flow to net income ratio is negative, further emphasizing cash flow challenges. Overall, the cash flow statement reflects liquidity issues and operational inefficiencies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	212.35M	254.62M	298.40M	361.13M	329.25M	310.72M
Gross Profit	46.49M	60.80M	78.52M	93.65M	85.53M	95.58M
EBITDA	-11.94M	-16.41M	-49.25M	-106.38M	5.54M	23.68M
Net Income	-26.25M	-29.28M	-63.22M	-123.33M	-10.06M	2.21M
Balance Sheet
Total Assets	76.06M	93.62M	111.87M	183.97M	318.18M	310.22M
Cash, Cash Equivalents and Short-Term Investments	9.25M	9.44M	15.80M	25.55M	34.47M	21.09M
Total Debt	29.31M	37.42M	34.48M	46.73M	53.25M	50.16M
Total Liabilities	54.47M	68.66M	77.46M	90.01M	104.77M	93.33M
Stockholders Equity	21.59M	24.95M	34.40M	93.95M	213.41M	216.88M
Cash Flow
Free Cash Flow	-9.75M	-20.32M	2.27M	-2.44M	9.43M	17.45M
Operating Cash Flow	-6.65M	-14.10M	8.14M	1.96M	12.42M	20.30M
Investing Cash Flow	-6.37M	-6.21M	-7.11M	-5.44M	-2.99M	-4.27M
Financing Cash Flow	15.14M	15.21M	-10.77M	-5.45M	2.47M	-13.62M

Fluent Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLNT, the sentiment is Neutral. The current price of 2 is above the 20-day moving average (MA) of 1.94, below the 50-day MA of 2.04, and below the 200-day MA of 2.14, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 53.47 is Neutral, neither overbought nor oversold. The STOCH value of 60.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FLNT.

Fluent Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
MCHX	52 Neutral	$72.01M	-14.95	-14.61%	―	-4.32%	-13.99%
INUV	48 Neutral	$39.29M	-9.18	-38.21%	―	25.10%	50.62%
HHS	47 Neutral	$23.88M	-4.35	-26.62%	―	-11.07%	82.06%
DRCT	42 Neutral	$2.72M	-0.05	―	―	-62.46%	-12.90%
FLNT	38 Underperform	$62.39M	-1.75	-127.41%	―	-18.94%	37.05%
VSME	31 Underperform	$3.77M	-0.99	-194.72%	―	-11.51%	74.52%

Fluent Corporate Events

Fluent Secures New $30M Finance Agreement

On November 25, 2025, Fluent, Inc. and its subsidiary entered into a $30 million Accounts Receivable Finance Agreement with Bay View Funding, secured by the company’s assets and subject to a 36-month term. This agreement allows Fluent to leverage its domestic and foreign accounts receivable for financing, potentially enhancing liquidity and operational flexibility. The following day, November 26, 2025, Fluent terminated its previous credit agreement with SLR Credit Solutions, incurring a $1 million early termination fee, which resulted in the release of all liens and security interests associated with the SLR Credit Agreement.

Fluent Approves New Equity Participation Plan

On September 22, 2025, Fluent, Inc. announced the approval of its Equity Participation Plan aimed at incentivizing employees and service providers to contribute to the company’s long-term success through ownership interests linked to the company’s stock value. The plan involves granting restricted stock units (RSUs) to eligible participants, which include employees, directors, and independent contractors, and will be settled in cash based on the fair market value of the company’s stock. The plan is designed to align the interests of participants with the company’s performance, although RSU holders will not participate in dividends. The board of directors will administer the plan, with the authority to designate participants, determine awards, and make necessary adjustments, while retaining the right to amend or terminate the plan.