Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results Monday, August 10, 2026 2Q26 Earnings Presentation | Nasdaq: FLNT fluentco.com fluentco.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements Safe Harbor Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the This presentation contains “non-GAAP financial measures,” which are meaning of the Private Securities Litigation Reform Act of 1995, as adj
Slide 3: 2Q26 Executive Summary
2Q26 Executive Summary ● 8% growth in total consolidated revenue compared to 2Q25 ● 25% growth in revenue on aggregate continuing business compared to 2Q25; expect double-digit growth in revenue on aggregate continuing business for FY26 ● Commerce Media Solutions comprised 63% of total consolidated
Slide 4: Commerce Media Solutions Comprised 63% of Total Consolidated Revenue in 2Q26
Commerce Media Solutions Comprised 63% of Total Consolidated Revenue in 2Q26 CMS Annual Revenue Run Rate Now Exceeds $125 million 2Q24 2Q25 2Q26 3% 11% 13% 16% 34% 36% 48% 63% 76% Commerce Media Solutions O&O Other 2Q26 Earnings Presentation | Nasdaq: FLNT fluentco.com | 4 fluentco.com
Slide 5: Strengthening Partnerships with Major Brands Through Post-Transaction Solutions
Strengthening Partnerships with Major Brands Through Post-Transaction Solutions Expanding Beyond Traditional Retail & Offerings to Strengthen Competitive Moat; New Verticals for Expansion Include Travel, Lifestyle, Home Services 2Q26 Earnings Presentation | Nasdaq: FLNT fluentco.com | 5 fluentco.com
Slide 6: Introducing Fluent In-Store
INTRODUCING Fluent In-Store New in-store commerce media offering bringing Commerce Media Solutions to the physical retail environment In partnership with rewards and payment network Bilt Technologies, Inc., with initial deployment at Beyond, Inc. retail locations $140 Billion 1 83% 2 10x 3 In a comm
Slide 7: Second Quarter 2026 Financial Highlights
Second Quarter 2026 Financial Highlights Three months ended Six months ended (in thousands) 6/30/26 6/30/25 6/30/26 6/30/25 Revenue $48,449 $44,706 $93,301 $99,916 Owned & Operated $16,300 $21,402 $32,047 $52,484 Commerce Media Solutions $30,547 $16,080 $56,412 $28,740 Other $1,602 $7,224 $4,842 $16
Slide 8: Reduced Debt and Tightened Capital Allocation Focus on CMS Growth
Reduced Debt and Tightened Capital Allocation Focus on CMS Growth Balance Sheet As of June 30, 2026 (In thousands) Cash and Cash Equivalents $6,877 • Operating cash flow of $0.3 million Total Assets $75,133 in 1H26 • Reduced debt to $26.8 million Debt, Net (1) $26,759 compared with $30.8 million at
Slide 9: Strategic Roadmap
Strategic Roadmap Positioning Fluent for Long-Term Sustainable Value Creation Accelerate Commerce Media Leadership Optimize Monetization through AI Establish Fluent as a leader in performance marketing Deploy AI capabilities and proprietary first-party data to among media partners and advertisers ac
Slide 10: Q&A
Q&A 2Q26 Earnings Presentation | Nasdaq: FLNT fluentco.com | 10 fluentco.com
Slide 11: Investor Relations
THANK YOU Investor Relations fluent@imsinvestorrelations.com (203) 972-9200 fluentco.com | 11 fluentco.com
Slide 12: Appendix
Appendix 2Q26 Earnings Presentation | Nasdaq: FLNT fluentco.com | 12 fluentco.com
Slide 13: Reconciliation to Consolidated Media Margin
Reconciliation to Consolidated Media Margin Income Statement Three Months Ended Six Months Ended (in thousands) 6/30/26 6/30/25 6/30/26 6/30/25 Revenue $48,449 $44,706 $93,301 $99,916 Less: Cost of revenue $34,440 $34,426 $69,253 $78,201 Gross profit (exclusive of depreciation and amortization) $14,
Slide 14: Reconciliation to Commerce Media Solutions Media Margin
Reconciliation to Commerce Media Solutions Media Margin Income Statement Three Months Ended Six Months Ended (in thousands) 6/30/26 6/30/25 6/30/26 6/30/25 Revenue $30,546 $16,080 $56,411 $28,740 Less: Cost of revenue $22,323 $13,200 $43,181 $23,048 Gross profit (exclusive of depreciation and amorti
Slide 15: Reconciliation to Adjusted EBITDA
Reconciliation to Adjusted EBITDA Income Statement Three Months Ended Six Months Ended (in thousands) 6/30/26 6/30/25 6/30/26 6/30/25 Net loss $(6,177) $(7,223) $(11,523) $(15,492) Income tax (expense) benefit 5 (107) 8 126 Interest expense, net 637 702 1,242 1,582 Depreciation and amortization 1,71
Slide 16: Reconciliation to Adjusted Net Income
Reconciliation to Adjusted Net Income Income Statement Three Months Ended Six Months Ended (in thousands) 6/30/26 6/30/25 6/30/26 6/30/25 Net loss $(6,177) $(7,223) $(11,531) $(15,492) Share based compensation expense 1,838 331 2,792 666 Loss on disposal of assets - - 14 - Fair value adjustments of