- Q1 2022 revenue of $89.1 million, up 27% over Q1 2021
- Net loss of $2.0 million, or $0.02 per share
- Gross profit (exclusive of depreciation and amortization) of $21.5 million, an increase of 12% over Q1 2021 and representing 24.1% of revenue for the three months ended March 31, 2022
- Media margin of $26.0 million, up 4% over Q1 2021 and representing 29.1% of revenue for the three months ended March 31, 2022
- Adjusted EBITDA of $4.8 million, representing 5.3% of revenue for the three months ended March 31, 2022
- Adjusted net income of $1.1 million, or $0.01 per share
NEW YORK, May 09, 2022 — Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the first quarter ended March 31, 2022.
Don Patrick, Fluent’s Chief Executive Officer, commented, “Our First Quarter results represent the continued progress we are making towards our long-term strategic growth plan – focused on building high quality digital experiences for consumers while creating more effective, efficient, and scalable customer acquisition solutions for marketers. We continue to lean into opportunities where we can establish and leverage Fluent brand credentials in the marketplace.
We remain confident that this consumer-centric strategy represents the winning road forward and enhances our competitive advantage, and ultimately building enterprise value for our stakeholders. It is foundational that Fluent creates meaningful downstream experiences for our consumers and expanding our relationships with world-class brands in key industry verticals; while successfully positioning us as leaders in an industry environment that continues to rapidly evolve.”
First Quarter Financial Summary
- Q1 2022 revenue of $89.1 million, up 27% over Q1 2021
- Net loss of $2.0 million or $0.02 per share, compared to net loss of $6.3 million, or $0.08 per share, in Q1 2021
- Gross profit (exclusive of depreciation and amortization) of $21.5 million, an increase of 12% over Q1 2021 and representing 24.1% of revenue for the three months ended March 31, 2022
- Media margin of $26.0 million, an increase of 4% over Q1 2021 and representing 29.1% of revenue for the three months ended March 31, 2022
- Adjusted EBITDA of $4.8 million, representing 5.3% of revenue for the three months ended March 31, 2022
- Adjusted net income of $1.1 million, or $0.01 per share
Media margin, adjusted EBITDA and adjusted net income are non-GAAP financial measures, as defined and reconciled below.
Business Outlook
- Strategic client relationships driving strong demand in the Fluent performance marketplace
- Monetization, as measured by media margin per registration, is up 50% in Q1’22 vs. Q1’21 enabled by improved quality of traffic, enhanced CRM capabilities and investments in technology and analytics
- Increasing media footprint while extending our reach into new media channels expansion to provide more relevant content and offers for consumers and our brands
- Newer revenue streams are generating incremental growth opportunities and enhancing lifetime value of consumers on our platform, reducing reliance on traffic volume for revenue growth
- We anticipate continued growth, with enhanced consumer experiences and media optimizations yielding margin expansion over time
About Fluent, Inc.
Fluent (NASDAQ: FLNT) is a leading data-driven performance marketing company with expertise in creating meaningful connections between consumers and brands. Leveraging our proprietary first-party database of opted-in consumer profiles, Fluent drives intelligent growth strategies that deliver superior outcomes. Founded in 2010, the company is headquartered in New York City. For more information, visit www.fluentco.com.
