Fluent (FLNT) AI Stock Analysis

• Market Cap: $56.99M
• Dividend Yield: N/A
• Average Volume (3M): 44.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.50
• Revenue Growth: -12.84%
• EPS Growth: 63.95%
• Country: US
• Employees: 208
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): -0.24
• Shares Outstanding: 28,496,870
• 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: 1.20
• Enterprise Value/Revenue: 0.30
• Enterprise Value/Gross Profit: 1.33
• Enterprise Value/Ebitda: -4.52
• 1Y Price Target: $3.00
• Price Target Upside: 54.64% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $2.00 ▲(3.09% Upside)

Fluent's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, high leverage, and weak cash flow generation. While the earnings call provided some positive insights into the growth of the commerce media segment, these are overshadowed by significant revenue declines and challenges in other areas. Technical analysis and valuation also present concerns, with neutral momentum indicators and a negative P/E ratio.

Positive Factors

Commerce Media Growth

The significant growth in the commerce media segment indicates a successful strategic pivot, potentially leading to a more sustainable revenue stream and improved profitability as this segment becomes a larger part of the business.

Strategic Partnerships

The addition of new strategic partners, including Authentic Brands and Rebuy Engine, enhances Fluent's market reach and strengthens its competitive position by accessing a broader range of e-commerce brands.

Equity Financing

The new equity financing improves Fluent's balance sheet, providing the necessary capital to support growth initiatives and potentially leading to profitability, which is crucial for long-term financial health.

Negative Factors

Revenue Decline

The significant decline in revenue highlights ongoing operational challenges and market pressures, which could hinder Fluent's ability to achieve sustainable growth and profitability in the near term.

Media Margin Compression

Margin compression in the commerce media segment suggests pricing pressures and operational inefficiencies, which could impact profitability and limit the company's ability to invest in growth initiatives.

Challenges in Owned and Operated Segment

The decline in the owned and operated segment, exacerbated by regulatory headwinds, indicates structural challenges that could continue to impact Fluent's revenue and profitability.

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 marketing services, which involve charging clients based on successful customer acquisitions or leads generated. Key revenue streams include cost-per-lead (CPL) and cost-per-acquisition (CPA) models, where clients pay for each lead or customer that Fluent successfully delivers. Additionally, Fluent benefits from partnerships with various brands and advertisers, which enhance its reach and effectiveness in campaign execution. The company's investment in data analytics and technology also allows it to optimize campaigns, leading to higher conversion rates and increased client satisfaction, further driving revenue growth.

Fluent Financial Statement Overview

Summary

Fluent is facing substantial financial challenges across all verticals. The income statement reflects declining revenues and persistent losses, while the balance sheet shows high leverage and negative returns on equity. The cash flow statement indicates poor cash generation, with negative growth in free cash flow. The company needs to address these issues to improve its financial health and stability.

Income Statement

Fluent's income statement shows a declining trend in revenue and profitability. The TTM data indicates a negative revenue growth rate of -5.75% and a net profit margin of -12.82%, reflecting ongoing challenges in achieving profitability. The gross profit margin has decreased from previous years, indicating pressure on cost management. Overall, the company is struggling with declining revenues and negative margins, which are significant concerns.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.22 in the TTM period, indicating significant leverage. Return on equity is negative, reflecting ongoing losses. The equity ratio is relatively low, suggesting limited financial stability. While the company has managed to reduce its debt levels compared to previous years, the high leverage and negative equity returns are concerning.

Cash Flow

Fluent's cash flow statement highlights significant challenges, with a negative free cash flow growth rate of -96.76% in the TTM period. The operating cash flow to net income ratio is negative, indicating inefficiencies in converting income into cash. Although the free cash flow to net income ratio is positive, it is primarily due to negative net income, which is not a positive indicator. Overall, the cash flow situation is weak, with limited cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	229.84M	254.62M	298.40M	361.13M	329.25M	310.72M
Gross Profit	51.27M	60.80M	78.52M	80.43M	85.53M	95.58M
EBITDA	-15.05M	-16.41M	-49.25M	-106.38M	5.54M	23.68M
Net Income	-26.87M	-29.28M	-63.22M	-123.33M	-10.06M	2.21M
Balance Sheet
Total Assets	74.47M	93.62M	111.87M	183.97M	318.18M	310.22M
Cash, Cash Equivalents and Short-Term Investments	4.93M	9.44M	15.80M	25.55M	34.47M	21.09M
Total Debt	26.60M	37.42M	34.48M	46.73M	53.25M	50.16M
Total Liabilities	55.35M	68.66M	77.46M	90.01M	104.77M	93.33M
Stockholders Equity	19.12M	24.95M	34.40M	93.95M	213.41M	216.88M
Cash Flow
Free Cash Flow	-558.00K	-20.32M	2.27M	-2.44M	9.43M	17.45M
Operating Cash Flow	2.14M	-14.10M	8.14M	1.96M	12.42M	20.30M
Investing Cash Flow	-5.90M	-6.21M	-7.11M	-5.44M	-2.99M	-4.27M
Financing Cash Flow	4.63M	15.21M	-10.77M	-5.45M	2.47M	-13.62M

Fluent Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.94
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLNT, the sentiment is Negative. The current price of 1.94 is below the 20-day moving average (MA) of 2.12, below the 50-day MA of 2.14, and below the 200-day MA of 2.26, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 35.53 is Neutral, neither overbought nor oversold. The STOCH value of 9.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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%
INUV	48 Neutral	$41.74M	-8.73	-36.41%	―	21.45%	41.21%
FLNT	44 Neutral	$56.99M	-1.47	-115.36%	―	-12.84%	63.95%
DRCT	43 Neutral	$5.50M	-0.18	―	―	-74.79%	-690.57%
MCHX	42 Neutral	$76.43M	-16.17	-13.93%	―	-2.64%	6.48%
HHS	39 Underperform	$20.24M	―	-14.09%	―	-6.49%	89.87%
VSME	31 Underperform	$25.55M	-6.87	-194.72%	―	-11.51%	74.52%

Fluent Corporate Events

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.

The most recent analyst rating on (FLNT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Fluent stock, see the FLNT Stock Forecast page.

Fluent Inc’s Earnings Call: Growth Amid Challenges

Fluent Inc’s recent earnings call presented a mixed bag of outcomes, with notable growth in the commerce media segment and strategic partnerships, yet overshadowed by significant revenue declines and challenges in the owned and operated segment. The sentiment was cautiously optimistic, buoyed by new equity financing but tempered by media margin compression.

Fluent Inc. Reports Strong Growth in Commerce Media

Fluent, Inc. is a commerce media solutions provider that connects top-tier brands with highly engaged consumers, leveraging exclusive ad inventory, robust first-party data, and proprietary machine learning to drive performance marketing and monetization.

Fluent Announces $10.3M Private Placement Agreement

On August 19, 2025, Fluent, Inc. announced a private placement agreement to issue and sell 5,871,427 shares of its common stock and pre-funded warrants, generating approximately $10.3 million in gross proceeds. The funds raised are intended for working capital and general corporate purposes, with the transaction expected to bolster Fluent’s balance sheet and support its growth plans in the commerce media sector. The placement involves both institutional investors and company insiders, and the company has committed to filing a registration statement with the SEC to cover the resale of the shares.

The most recent analyst rating on (FLNT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Fluent stock, see the FLNT Stock Forecast page.

Fluent, Inc. Delays Q2 2025 10-Q Filing

Fluent, Inc. has announced a delay in filing its Form 10-Q (Quarter Report) for the financial period ending June 30, 2025. The delay is primarily due to ongoing discussions with SLR Credit Solution regarding a proposed amendment to their Credit Agreement, which is necessary to address non-compliance with financial covenants. The company expects to file the report within a five-day extension period. Preliminary financial results indicate a decrease in revenue to $99.2 million for the first half of 2025, compared to $124.7 million in the same period last year, although net loss per diluted share has improved. Fluent is actively working to resolve these issues and ensure compliance, as stated by CEO Donald Patrick.

The most recent analyst rating on (FLNT) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Fluent stock, see the FLNT Stock Forecast page.