In This Story
Fluent Inc. (FLNT-1.85%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $254.6 million from $298.4 million in the previous year. The decline is attributed to challenges in acquiring media and the impact of the FTC Consent Order, which imposed stricter standards on media sourcing.
Cost of revenue (exclusive of depreciation and amortization) decreased to $193.8 million from $219.9 million, but increased as a percentage of revenue from 73.7% to 76.1%.
The company reported a net loss of $29.3 million, compared to a net loss of $63.2 million in the previous year. The improvement in net loss is primarily due to the absence of a goodwill impairment charge that was incurred in the prior year.
Fluent's adjusted EBITDA was negative $5.6 million, a decrease from a positive $6.8 million in the prior year.
The company raised $5.0 million through the issuance of pre-funded warrants to meet conditions of the Fourth Amendment to the SLR Credit Agreement. The amendment also waived non-compliance with financial covenants as of December 31, 2024.
Fluent's cash and cash equivalents decreased to $9.4 million as of December 31, 2024, from $15.8 million in the previous year. The decrease is attributed to cash used in operating activities.
The company continues to face challenges in maintaining traffic volume to its owned and operated sites, impacting its ability to generate revenue.
Fluent has implemented workforce reductions and divested non-core business units to align resources with strategic initiatives and improve financial performance.
The company is subject to ongoing regulatory scrutiny and has settled previous investigations with the FTC and the Pennsylvania Office of the Attorney General.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Fluent Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.