Fluent, Inc. reported a revenue increase of 4% for the third quarter of 2022, reaching $89.0 million compared to $85.9 million in the same period last year. The company also achieved a net income of $3.1 million, or $0.04 per share, a significant turnaround from a net loss of $2.5 million, or $0.03 per share, in the prior year. For the nine months ending September 30, 2022, revenue surged by 21% to $276.5 million, up from $229.4 million, although the company recorded a net loss of $55.8 million, compared to a loss of $13.9 million in the same period of 2021.

The financial performance reflects a strategic shift towards enhancing the company's media footprint and customer relationship management capabilities, particularly in the Rewards business. This growth was somewhat offset by challenges in the employment opportunities marketplace, attributed to technology platform migration issues and tough year-over-year comparisons. The company’s media margin also improved, increasing 16% to $28.1 million, representing 31.5% of revenue for the quarter.

Operationally, Fluent has focused on improving the quality of its traffic through its Traffic Quality Initiative, which has led to a reduction in lower-quality affiliate traffic. The company reported a total of 81.6 million users engaged with its media properties, with approximately 90% accessing via mobile devices. The company has also expanded its international reach, with international revenue growing significantly, contributing to overall revenue growth.

Fluent's balance sheet showed total assets of $253.0 million as of September 30, 2022, down from $318.2 million at the end of 2021. The decrease was primarily due to a goodwill impairment charge of $55.4 million recorded earlier in the year. The company’s long-term debt stood at $36.8 million, with cash and cash equivalents at $33.1 million, reflecting a slight decrease from $34.5 million at the end of 2021. Looking ahead, Fluent plans to continue leveraging its existing database to explore new revenue streams and enhance its digital marketing capabilities, while also evaluating potential acquisitions to complement its business strategy.

About Fluent, Inc.

Fluent, Inc. is a leading digital marketing services provider specializing in customer acquisition through scalable campaigns. The company connects over 500 brands with consumers via its owned media properties and performance marketplaces. With a $300 billion market opportunity in performance marketing, Fluent targets diverse industries, including media, finance, and healthcare. Key innovations include a proprietary technology platform and a focus on first-party data, enhancing client engagement and campaign effectiveness.

This description was generated via AI from the most recent annual report. Updated 4 months ago.

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