Earnings Releases·Nov 12, 2026, 4:10 PM ET

Fluent, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 revenue increased 14% year-over-year to $53.6 million, driven by a 100% surge in Commerce Media Solutions to $37.5 million, while the nine-month net loss narrowed 36% to $14.7 million and adjusted EBITDA loss improved to $5.0 million.
The Company expects full-year 2026 and 2027 consolidated revenue growth in the double digits, with Q4 2026 guidance targeting positive adjusted EBITDA and Commerce Media Solutions growth in the high double digits.
Strategic focus continues to shift toward Commerce Media Solutions, which now comprises 70% of consolidated revenue, with plans to expand into travel, lifestyle, and home services verticals while launching a new in-store commerce media offering.
Liquidity remains constrained with $11.4 million in cash and $31.5 million in short-term debt, while significant risks persist regarding reliance on an uncommitted financing agreement and dependence on the gaming industry.