Fluent Q1 revenue down 19% to $44.9M; Commerce Media revenue up 104% to $25.9M

Fluent, Inc.

Net loss narrowed to $5.4M ($0.17 loss per share) from $8.3M ($0.39) in Q1 2025.
Commerce Media Solutions revenue $25.9M (+104% YoY); now 58% of total revenue; annual run rate >$110M.
Owned & Operated revenue fell 50% to $15.7M as focus shifts to Commerce Media Solutions.
Adjusted EBITDA loss of $3.6M (8% of revenue) versus $3.1M loss in Q1 2025.
Management expects full-year double-digit revenue growth on continuing businesses and adjusted EBITDA improvement.

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