Fluent Q2 2024 revenue down 29% YoY; net loss of $11.6M; adjusted EBITDA negative $4.5M

Fluent, Inc.

2024-Q2 EPS reported -$1.11 revenue$124,700,000

Revenue of $58.7M (down 29% YoY from $82.1M); net loss $11.6M vs net income $4.3M in Q2 2023.
Adjusted EBITDA negative $4.5M, a decline of $10.1M from Q2 2023; adjusted net loss $0.47 per share.
Recorded a $3.1M write-down of accounts receivable due to new regulatory challenges in Medicare and ACA verticals.
Syndicated performance marketplaces grew significantly and exceeded internal forecasts for revenue and gross profit.
Management anticipates margin expansion in H2 2024 driven by marketplace stabilization, syndicated growth, and expense discipline.

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