Business
Fluent Announces Second Quarter 2023 Financial Results
•Revenue of $82.1 million for Q2 2023 and $159.4 million for FY 2023 •Gross profit (exclusive of depreciation and amortization) of $22.6 million for Q2 2023
About this update from Fluent, Inc.
[{"type":"text","content":" •Revenue of $82.1 million for Q2 2023 and $159.4 million for FY 2023 •Gross profit (exclusive of depreciation and amortization) of $22.6 million for Q2 2023 and $41.6 million for FY 2023 •Net income of $1.2 million for Q2 2023 and net loss of $30.8 million for FY 2023 •Media margin of $25.9 million for Q2 2023 and $47.9 million for FY 2023 •Adjusted EBITDA of $5.6 million for Q2 2023 and $6.0 million for FY 2023 •Adjusted net income of $1.0 million for Q2 2023 and adjusted net loss of $1.7 million for FY 2023 NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the second quarter ended June 30, 2023. Don Patrick, Fluent’s Chief Executive Officer, commented, \"Our second quarter results continue to reinforce the imperative behind our commitment to enhance the quality of consumer engagements within our Performance Marketplace, while also reflecting the more volatile macro-economic and evolving regulatory environment we are operating within. Our successful FTC settlement gives us important clarity on our strategic roadmap, and we will continue to appropriately invest in our growth agenda – 'Quality as our North Star'. We are excited about a future with a level competitive playing field that will allow Fluent to return to growth, at or above industry growth rates. However, in the immediate term, and as the market reacts to the new industry standard Fluent has chosen to establish, we believe it will take a few quarters or more for our competitors to implement new industry compliance standards, and some may try to take financial advantage of their current lower compliance posture. Fluent is prepared to gain market share with our media partners in future periods as the market evolves to incorporate the new compliance environment we are leading.\" Second Quarter Financial Highlights •Revenue decreased 16% to $82.1 million, from $98.4 million in Q2 2022 •Gross profit (exclusive of depreciation and amortization) of $22.6 million, a decrease of 20% over Q2 2022 and representing 28% of revenue •Net income of $1.2 million, or $0.01 per share, compared to net loss of $56.9 million, or $0.70 per share, for Q2 2022 •Media margin of $25.9 million, a decrease of 20% over Q2 2022 and representing 31.5% of revenue •Adjusted EBITDA of $5.6 ...