- Q4 2021 revenue of $99.8 million, up 21.8% over Q4 2020
- Net income of $3.8 million, or $0.05 per share
- Gross profit (exclusive of depreciation and amortization) of $27.5 million, up 8.9% over Q4 2020 and representing 28% of revenue
- Media margin of $31.2 million, down 2.5% over Q4 2020 and representing 31.3% of revenue
- Adjusted EBITDA of $10.2 million, representing 10.2% of revenue
- Adjusted net income of $6.4 million, or $0.08 per share
March 8, 2022 — Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported results for the fourth quarter and fiscal year ended December 31, 2021.
Donald Patrick, Fluent’s recently appointed Chief Executive Officer, commented, “Our results for the fourth quarter and the full year reflect the continued progress we are making towards the strategic transition of our business focused on building higher quality digital experiences for consumers, while creating more effective and sustainable customer acquisition solutions for marketers. Our industry remains dynamic and rapidly evolving, and we continue to see world-class brands leaning in with strong demand on our performance marketplace.
By focusing squarely on delivering our client’s ROI goals, we are enhancing Fluent’s brand equity with our client partners, while ultimately building enterprise value for our stakeholders.”
Fourth Quarter Highlights
- Revenue increased 21.8% to $99.8 million, from $82.0 million in Q4 2020
- Net income of $3.8 million, or $0.05 per share, compared to net income of $0.2 million, or $0.00 per share
- Gross profit (exclusive of depreciation and amortization) of $27.5 million, an increase of 8.9% over Q4 2020 and representing 28% of revenue
- Media margin of $31.2 million, a decrease of 2.5% over prior year period and representing 31.3% of revenue
- Adjusted EBITDA of $10.2 million, representing 10.2% of revenue
- Adjusted net income of $6.4 million, or $0.08 per share
Full-Year 2021 Highlights
- Revenue increased 6.0% to $329.3 million, from $310.7 million in 2020
- Net loss of $10.1 million, or $0.13 per share, compared to net income of $2.2 million, or $0.03 per share
- Gross profit (exclusive of depreciation and amortization) of $85.5 million, a decrease of 10.5% over 2020 and representing 26% of revenue
- Media margin of $100.4 million, a decrease of 9.1% over prior year and representing 30.5% of revenue
- Adjusted EBITDA of $23.2 million, representing 7.0% of revenue
- Adjusted net income $7.6 million, or $0.09 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
- Sustainable improvement in monetization, as measured by media margin per registration, up 50% in 2021 (Q4 vs. Q1), enabled by Traffic Quality Initiative, enhanced CRM capabilities and investments in technology and analytics
- Traffic Quality Initiative creating strategic growth framework and improving pricing against scalable media inventory, despite short term margin pressure
- Fluent Sales Solutions scaling quickly, exceeding revenue expectations with planned margin expansion over time
About Fluent, Inc.
Fluent, Inc. (NASDAQ: FLNT) is a global data-driven performance marketing company and trusted growth partner for leading brands. Experts in creating value for consumers, Fluent leverages its consumer database, digital media portfolio, and proprietary data science and technology to deliver outcome-based solutions for marketers.
Founded in 2010, the company is headquartered in New York City.
