Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the third quarter ended 2020.
Ryan Schulke, Fluent’s Chief Executive Officer, commented, “We are pleased to post a solid third quarter in terms of performance and results, as we continue to leverage and expand our business and performance marketplace, as well as evolve best practices for the long term.”
“Innovation was an important theme underpinning the quarter’s results, particularly relating to Fluent’s product and platform, which we see as a reflection of our team’s agility and adaptability through these highly unusual times. I again want to thank all of our employees for their exceptional work under the most difficult of circumstances and to reiterate that Fluent remains resilient and steadfast in striving to support our colleagues, clients, consumers and communities.”
Third Quarter Financial Summary
- Q3 2020 revenue of $78.3million, up 21%over Q3 2019
- Net income of $1.2 or $0.01 per share, compared to net loss of $4.5 million, or $0.06 per share, in Q3 2019
- Media margin of $29.7 million, an increase of 39% over Q3 2019 and representing 37.9% of revenue
- Adjusted EBITDA of $11.6 million, an increase of 167% over Q3 2019 and representing 14.8% of revenue
- Adjusted net income of $6.3million, or $0.08 per share
Media margin, adjusted EBITDA and adjusted net income (loss) are non-GAAP financial measures, as defined and reconciled below.
Business Outlook
- Early indicators for Q4 2020 point to seasonal lift, albeit with visibility constrained by unique circumstances regarding the election, the COVID-19 pandemic and holiday shopping patterns.
- The Media & Entertainment vertical remains the Company’s most significant growth driver, underpinned by direct relationships in the Streaming Services and Mobile Gaming categories.
- Q3 2020 revenue from engaging consumers in international markets, primarily the UK, grew sequentially as compared with Q2 2020, and represented more than 5% of total company revenue in the quarter.
- Notwithstanding the extraordinary challenges imposed by the global pandemic, the Company’s business and operations have remained on solid footing.
Conference Call
Fluent, Inc. will host a conference call on Thursday, October 29, 2020 at 4:30 PM ET to discuss its 2020 third quarter 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 earnings 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 10149165. 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.
