Fluent reports Q3 2023 revenue down 26% YoY, net loss of $33.6M, adjusted EBITDA negative

Fluent, Inc.

2023-Q3 EPS reported -$0.74 revenue$225,638,000

Revenue $66.2M vs $89.0M in Q3 2022, a 26% decline; net loss $33.6M ($0.41/sh) vs net income $3.1M.
Gross profit (ex D&A) of $16.1M, down 32% YoY; media margin $19.3M, down 31%.
Adjusted EBITDA negative $1.7M vs positive $5.9M in Q3 2022; adjusted net loss $4.1M ($0.05/sh).
CEO cites post-FTC settlement transition and focus on rebuilding core; goodwill impairment drives net loss.
YTD 2023 revenue $225.6M (-18% YoY); adjusted EBITDA positive $4.3M vs $20.1M prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Fluent, Inc. reported third quarter ended September 30, 2023 results: revenue Revenue of $66.2 million, net income Net loss of $33.6 million, EPS net loss of $33.6 million, or $0.41 per share.

Period: third quarter ended September 30, 2023
Revenue: Revenue of $66.2 million
Net income: Net loss of $33.6 million
EPS: net loss of $33.6 million, or $0.41 per share
Result: reported results

Exact text from the filing

Fluent Announces Third Quarter 2023 Financial Results • Revenue of $66.2 million for Q3 2023 and $225.6 million for YTD 2023 • Gross profit (exclusive of depreciation and amortization) of $16.1 million for Q3 2023 and $57.7 million for YTD 2023 • Net loss of $33.6 million for Q3 2023 and $61.3 million for YTD 2023

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Source: SEC EDGAR

accession 0001437749-23-031994

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