Fluent Reports Revenue of $56.9 Million

Fluent (NASDAQ:FLNT) announced its financial results for the quarter ended June 30, 2018 with the company reporting a revenue increase of 12 percent year-over-year.

Fluent, a leading data-driven performance marketing company reported revenue of US$56.9 million as compared to US$51 million in prior year quarter.

As quoted in the press release:

“With our first full quarter as a standalone public company under our belt, we are pleased with our team’s performance,” stated Ryan Schulke, Fluent’s CEO. “Our data-driven, consumer-based approach propelled our margin expansion and continued double-digit year over year growth.”

Second Quarter Financial Results

For the three months ended June 30, 2018, as compared to the three months ended June 30, 2017:

• Total revenue increased 12% to $56.9 million, from $51.0 million.
• Net income from continuing operations was $2.6 million, compared to net loss from continuing operations of $8.3 million.
• Net loss from discontinued operations was $0, compared to $12.1 million.
• Basic earnings per share from continuing operations was $0.04, compared to a loss of $0.15 per share.
• Adjusted EBITDA grew 53% to $10.9 million, based on net income of $2.6 million, from $7.1 million on $20.4 million of net loss.
• Adjusted gross profit increased 42% to $23.0 million, from $16.3 million. Adjusted gross margin increased 800 basis points to 40%, from 32%.

Adjusted EBITDA, adjusted gross profit and adjusted gross margin are non-GAAP financial measures. Reconciliation of these non-GAAP measures are provided in the attached tables.

Second Quarter and Recent Business Highlights

• Continued to expand margins through enhanced ad targeting and distribution

• Surpassed 1 million user registrations in UK beta launch

• Launched first content-based mobile app to expand ad distribution

• Initiated partnership with Live Ramp to make Fluent’s first-party health-interest audiences available programmatically

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