Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported results for the fourth quarter and fiscal year ended December 31, 2020.

Ryan Schulke, Fluent’s Chief Executive Officer, commented, “Our fourth quarter results came in at the high end of the ranges we previewed in mid-January. Our results for the quarter and the full year reflect significant strides on the advertiser side of our business, adding and fortifying strategic partnerships with major brands, which in turn enhances the value of Fluent’s brand equity.

To support our sustainable long-term growth strategy, we continue to evolve our media properties, platform and traffic quality. As our industry is evolving rapidly, both commercially and through a regulatory lens, we are leading by example. In 2020, we commenced a Traffic Quality Initiative, to further enhance our value proposition for our clients and position Fluent as an industry leader. We see our commitment to higher quality traffic as the road to sustainable growth, notwithstanding a reduction in our near-term revenue profile during this transition.

Our clients are leaning in for more, and we are recalibrating our media strategy to fundamentally deliver high-value customer acquisition solutions to build value and drive growth for our clients and Fluent.”

Fourth Quarter Highlights

  • Revenue increased 2.5% to $82.0 million, from $80.0 million in Q4 2019  
  • Net income of $0.2 million, or $0.00 per share, compared to net income of $1.0 million, or $0.01 per share   
  • Media margin of $32.0 million, an increase of 21.8% over prior year period and representing 39.0% of revenue  
  • Adjusted EBITDA of $11.1 million, representing 13.6% of revenue  
  • Adjusted net income of $5.4million, or $0.07 per share

Full-Year 2020 Highlights

  • Revenue increased 10.3% to $310.7 million, from $281.7 million in 2019  
  • Net income of $2.2 million, or $0.03 per share, compared to net loss of $1.7 million, or $0.02 per share  
  • Media margin of $110.4 million, an increase of 18.0% over prior period and representing 35.5% of revenue  
  • Adjusted EBITDA of $41.2 million, an increase of 18.7% over prior period and representing 13.3% of revenue  
  • Adjusted net income $19.7 million, or $0.25 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 on Fluent’s performance marketplace
  • Monetization, as measured by media margin per registration, up two-fold in-year 2020 (Q4 vs. Q1), enabled by investments in technology and analytics; remains robust in Q1 2021
  • Traffic Quality Initiative reducing revenue during transition to higher value strategy
  • Winopoly contact center capability scaling quickly, exceeding expectations

Conference Call

Fluent, Inc. will host a conference call on Tuesday, March 16, 2021 at 4:30 PM ET to discuss its 2020 fourth quarter and full-year financial results. To listen to the conference call on your telephone, please dial (888) 339-0797 for domestic callers, or (412) 317-5248 for international callers. To access the live audio webcast, visit the Fluent website at investors.fluentco.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required. Following completion of the conference call, a recorded replay of the webcast will be available for those unable to participate. To listen to the telephone replay, please dial (877) 344-7529 or (412) 317-0088, with the replay passcode 10153134. The replay will also be available for one week on the Fluent website at investors.fluentco.com

About Fluent, Inc.

Fluent (NASDAQ: FLNT) is a leading 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.