Business
Fluent Announces First Quarter 2020 Financial Results
19% growth in Q1 2020 revenue over Q1 2019, to $78.9 millionNet income of $0.4 million, or $0.01 per shareMedia margin of $23.9 million, up 4% over Q1 2019
About this update from Fluent, Inc.
[{"type":"text","content":" 19% growth in Q1 2020 revenue over Q1 2019, to $78.9 millionNet income of $0.4 million, or $0.01 per shareMedia margin of $23.9 million, up 4% over Q1 2019 and representing 30.3% of revenueAdjusted EBITDA of $9.0 million, representing 11% of revenueAdjusted net income of $3.8 million, or $ 0.05 per share NEW YORK, May 11, 2020 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the first quarter ended 2020.\n Ryan Schulke, Fluent’s Chief Executive Officer, commented, \"Amidst the extraordinary challenges we are all facing during the current global pandemic, we express our most sincere gratitude to those working tirelessly to support people in need. We also take great pride in the expressions of caring and concern by our colleague base, to support each other's families and respective communities.\" \"At the same time, we are extremely fortunate that our team has been so adaptive and resilient, enabling Fluent to maintain focus in driving our business forward, by executing on our core business goals and strategic agenda. We see our revenue growth in the quarter as an important indicator that Fluent continues to forge stronger bonds with leading brands across multiple verticals, and become a more critical component of our partners' overall marketing strategies.\" First Quarter Financial Summary 19% growth in Q1 2020 revenue over Q1 2019, to $78.9 millionNet income of $0.4 or $0.01 per share, compared to net income of $1.0 million, or $0.01 per share, in Q1 2019Media margin of $23.9 million, an increase of 4% over Q1 2019 and representing 30.3% of revenueAdjusted EBITDA of $9.0 million, representing 11% of revenueAdjusted net income of $3.8 million, or $ 0.05 per share Media margin, adjusted EBITDA and adjusted net income are non-GAAP financial measures, as defined and reconciled below. Business Outlook Fluent currently sees Q2 2020 trending in-line with Q2 2019 revenue and media margin.Volume of consumer traffic to our websites continues to be elevated year over year, reflecting consumers spending more time on their mobile devices, as the country largely shelters at home.Cost of media in Q2 2020 is trending favorably compared to Q2 2019, while monetization reflects the economic uncertainties our advertiser clients are responding to. Conference C...