Fluent, Inc. (FLNT) 10-Year Financial Performance & Capital Metrics

FLNT • • Industrial / General

Communication ServicesAdvertising & MarketingSpecialized Digital Marketing ServicesPerformance Marketing Specialists

AboutFluent, Inc. provides data-driven digital marketing services primarily in the United States. The company operates through Fluent and All Other segments. It offers customer acquisition services by operating digital marketing campaigns, through which the company connects its advertiser clients with consumers. The company also delivers data and performance-based marketing executions to approximately 500 consumer brands, direct marketers, and agencies across a range of industries, including financial products and services, media and entertainment, health and wellness, retail and consumer, and staffing and recruitment. Fluent, Inc. is headquartered in New York, New York.Show more

Revenue $255M -14.7%
EBITDA -$14M +72.1%
Net Income -$29M +53.7%
EPS (Diluted) -1.80 +60.8%
Gross Margin 23.88% -9.2%
EBITDA Margin -5.39% +67.3%
Operating Margin -9.29% +53.9%
Net Margin -11.5% +45.7%
ROE -98.64% -0.1%
ROIC -33.47% +37.6%
Debt/Equity 1.50 +49.6%
Interest Coverage -4.98 +73.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 89 (top 11%)
✓Efficient asset utilization: 2.7x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 18.1% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y55.88%

5Y-2%

3Y-8.21%

TTM-18.94%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.39%

EPS CAGR

10Y-

5Y-

3Y-

TTM37.91%

ROCE

10Y Avg-21.79%

5Y Avg-34.44%

3Y Avg-57.87%

Latest-51.67%

Peer Comparison

Performance Marketing Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QNSTQuinStreet, Inc.	828.01M	14.59	180.79	78.27%	0.96%	4.3%	10.01%	0.04
XNETXunlei Limited	470.86M	7.66	80.63	-11.16%	315.31%	79.34%	4.81%	0.09
SDMSmart Digital Group Limited Ordinary Shares	49.44M	1.85	28.91	121.8%	7.88%	30.89%		0.05
TZOOTravelzoo	66.47M	6.08	5.74	-0.68%	8.83%	180.99%	31.48%	1.86
HAOHaoxi Health Technology Limited	20.63M	1.50	1.42	71.88%	1.73%	8.43%		0.11
STFSStar Fashion Culture Holdings Limited	5.43M	0.12	0.13	57.6%	1.52%	0.51%	100%	0.24
BAOSBaosheng Media Group Holdings Limited	4.36M	2.84	-0.16	-32.3%	-18.58%	-193.72%		0.05
TNMGTNL Mediagene	97.49M	2.36	-0.68	35.31%	-175.29%	-156.3%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	14.09M	186.84M	211.69M	250.28M	281.68M	310.72M	329.25M	361.13M	298.4M	254.62M
Revenue Growth %	3.69%	12.26%	0.13%	0.18%	0.13%	0.1%	0.06%	0.1%	-0.17%	-0.15%
Cost of Goods Sold+	10.25M	133.8M	147.41M	161.56M	194.44M	215.13M	243.72M	267.49M	219.88M	193.82M
COGS % of Revenue	0.73%	0.72%	0.7%	0.65%	0.69%	0.69%	0.74%	0.74%	0.74%	0.76%
Gross Profit+	3.84M	53.04M	65.31M	88.72M	87.25M	95.58M	85.53M	93.65M	78.52M	60.8M
Gross Margin %	0.27%	0.28%	0.31%	0.35%	0.31%	0.31%	0.26%	0.26%	0.26%	0.24%
Gross Profit Growth %	16.85%	12.82%	0.23%	0.36%	-0.02%	0.1%	-0.11%	0.09%	-0.16%	-0.23%
Operating Expenses+	48.24M	87.08M	86.33M	77.35M	82.03M	87.2M	90.2M	213.24M	138.65M	84.46M
OpEx % of Revenue	3.42%	0.47%	0.41%	0.31%	0.29%	0.28%	0.27%	0.59%	0.46%	0.33%
Selling, General & Admin	47.4M	70.39M	67.07M	49.67M	59.61M	58.48M	60.89M	54.89M	54.51M	55.01M
SG&A % of Revenue	3.36%	0.38%	0.32%	0.2%	0.21%	0.19%	0.18%	0.15%	0.18%	0.22%
Research & Development	0	0	2.58M	5.28M	8.05M	12.6M	15.79M	18.16M	18.45M	17.28M
R&D % of Revenue	-	-	0.01%	0.02%	0.03%	0.04%	0.05%	0.05%	0.06%	0.07%
Other Operating Expenses	841K	16.69M	16.68M	13.17M	14.37M	16.12M	13.52M	140.19M	65.68M	12.17M
Operating Income+	-44.4M	-34.04M	-21.02M	11.37M	5.22M	8.38M	-4.67M	-119.59M	-60.13M	-23.66M
Operating Margin %	-3.15%	-0.18%	-0.1%	0.05%	0.02%	0.03%	-0.01%	-0.33%	-0.2%	-0.09%
Operating Income Growth %	-11.33%	0.23%	0.38%	1.54%	-0.54%	0.61%	-1.56%	-24.64%	0.5%	0.61%
EBITDA+	-43.56M	-21.41M	-7.96M	24.55M	19.16M	23.68M	8.51M	-106.38M	-49.25M	-13.73M
EBITDA Margin %	-3.09%	-0.11%	-0.04%	0.1%	0.07%	0.08%	0.03%	-0.29%	-0.17%	-0.05%
EBITDA Growth %	-14.19%	0.51%	0.63%	4.08%	-0.22%	0.24%	-0.64%	-13.51%	0.54%	0.72%
D&A (Non-Cash Add-back)	841K	12.63M	13.05M	13.17M	13.94M	15.3M	13.17M	13.21M	10.88M	9.93M
EBIT	-58.7M	-35.53M	-22.02M	11.37M	5.22M	8.38M	-7.63M	-119.59M	-60.13M	-26.34M
Net Interest Income+	-468K	-7.59M	-9.68M	-8.13M	-6.89M	-5.35M	-2.18M	-1.97M	-3.2M	-4.75M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	468K	7.59M	9.68M	8.13M	6.89M	5.35M	2.18M	1.97M	3.2M	4.75M
Other Income/Expense	-14.77M	-9.09M	-10.69M	-8.13M	-6.89M	-5.35M	-5.15M	-1.97M	-3.2M	-7.43M
Pretax Income+	-59.17M	-43.13M	-31.71M	3.24M	-1.67M	3.03M	-9.81M	-121.56M	-63.33M	-31.09M
Pretax Margin %	-4.2%	-0.23%	-0.15%	0.01%	-0.01%	0.01%	-0.03%	-0.34%	-0.21%	-0.12%
Income Tax+	-16.58M	-14.04M	0	46K	74K	822K	246K	1.78M	-116K	-1.81M
Effective Tax Rate %	1.43%	0.67%	1.68%	-5.54%	1.04%	0.73%	1.03%	1.01%	1%	0.94%
Net Income+	-84.53M	-29.09M	-53.21M	-17.93M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Net Margin %	-6%	-0.16%	-0.25%	-0.07%	-0.01%	0.01%	-0.03%	-0.34%	-0.21%	-0.11%
Net Income Growth %	-22.93%	0.66%	-0.83%	0.66%	0.9%	2.26%	-5.56%	-11.26%	0.49%	0.54%
Net Income (Continuing)	-42.59M	-29.09M	-31.71M	3.19M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-38.88	-3.92	-5.22	-1.40	-0.13	0.17	-0.75	-9.09	-4.59	-1.80
EPS Growth %	-53%	0.9%	-0.33%	0.73%	0.91%	2.31%	-5.41%	-11.12%	0.5%	0.61%
EPS (Basic)	-38.88	-3.92	-5.22	-1.38	-0.13	0.17	-0.75	-9.09	-4.59	-1.80
Diluted Shares Outstanding	2.17M	7.42M	9.28M	12.78M	13.23M	13.25M	13.33M	13.57M	13.77M	16.26M
Basic Shares Outstanding	2.17M	7.42M	9.28M	12.78M	13.23M	13.1M	13.33M	13.57M	13.77M	16.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	37.62M	43.1M	56.98M	68.39M	81.52M	86.19M	107.2M	92.22M	78.41M	65.95M
Cash & Short-Term Investments	13.46M	10.09M	16.63M	17.77M	18.68M	21.09M	34.47M	25.55M	15.8M	9.44M
Cash Only	13.46M	10.09M	16.63M	17.77M	18.68M	21.09M	34.47M	25.55M	15.8M	9.44M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	21.22M	30.96M	36.28M	48.65M	60.91M	62.67M	70.23M	63.16M	56.53M	46.53M
Days Sales Outstanding	549.77	60.48	62.55	70.95	78.93	73.62	77.85	63.84	69.15	66.7
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	2.93M	2.05M	2.27M	1.97M	0	0	0	3.51M	6.07M	9.98M
Total Non-Current Assets+	251.57M	268.81M	260.02M	224.88M	235.58M	224.03M	210.98M	91.75M	33.46M	27.66M
Property, Plant & Equipment	1.06M	1.35M	1.78M	1.38M	12.73M	10.48M	8.26M	6.17M	3.99M	1.87M
Fixed Asset Turnover	13.27x	138.40x	119.06x	181.36x	22.13x	29.63x	39.85x	58.57x	74.86x	135.87x
Goodwill	161.75M	166.26M	166.26M	159.79M	164.77M	165.09M	165.09M	55.11M	1.26M	0
Intangible Assets	87.44M	98.53M	89.71M	61.81M	55.6M	45.42M	35.75M	28.75M	26.81M	21.8M
Long-Term Investments	-18.88M	0	0	1.48M	1.48M	1.48M	0	0	0	0
Other Non-Current Assets	1.31M	2.67M	2.28M	1.89M	2.47M	1.56M	1.89M	1.73M	1.41M	3.99M
Total Assets+	289.19M	311.91M	317M	293.27M	317.09M	310.22M	318.18M	183.97M	111.87M	93.62M
Asset Turnover	0.05x	0.60x	0.67x	0.85x	0.89x	1.00x	1.03x	1.96x	2.67x	2.72x
Asset Growth %	27.8%	0.08%	0.02%	-0.07%	0.08%	-0.02%	0.03%	-0.42%	-0.39%	-0.16%
Total Current Liabilities+	21.06M	26.16M	32.78M	33.37M	52.23M	50.22M	57.94M	50.22M	49.21M	64.68M
Accounts Payable	8.86M	14.72M	7.41M	7.86M	21.57M	7.69M	16.13M	6.19M	10.95M	8.78M
Days Payables Outstanding	315.52	40.17	18.34	17.75	40.5	13.05	24.16	8.45	18.18	16.53
Short-Term Debt	2.25M	4.13M	2.75M	3.5M	9.15M	7.29M	5M	5M	5M	31.61M
Deferred Revenue (Current)	783K	318K	298K	444K	1000K	1000K	651K	1000K	430K	556K
Other Current Liabilities	1.01M	1.5M	13.35M	0	-2.28M	0	0	0	0	0
Current Ratio	1.79x	1.65x	1.74x	2.05x	1.56x	1.72x	1.85x	1.84x	1.59x	1.02x
Quick Ratio	1.79x	1.65x	1.74x	2.05x	1.56x	1.72x	1.85x	1.84x	1.59x	1.02x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	62.24M	56.1M	60.21M	52.74M	53.93M	43.12M	46.83M	39.8M	28.25M	3.98M
Long-Term Debt	48.67M	45.88M	60.21M	51.97M	44.1M	33.28M	40.33M	35.59M	25.49M	3.97M
Capital Lease Obligations	0	0	0	0	9.06M	7.29M	5.69M	3.74M	1.7M	9K
Deferred Tax Liabilities	13.57M	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	10.22M	0	766K	775K	2.54M	811K	458K	1.06M	1K
Total Liabilities	83.3M	82.26M	92.99M	86.1M	106.16M	93.33M	104.77M	90.01M	77.46M	68.66M
Total Debt+	50.92M	50.01M	62.96M	55.47M	64.59M	50.16M	53.25M	46.73M	34.48M	37.42M
Net Debt	37.46M	39.92M	46.33M	37.7M	45.91M	29.07M	18.78M	21.18M	18.68M	27.98M
Debt / Equity	0.25x	0.22x	0.28x	0.27x	0.31x	0.23x	0.25x	0.50x	1.00x	1.50x
Debt / EBITDA	-	-	-	2.26x	3.37x	2.12x	6.26x	-	-	-
Net Debt / EBITDA	-	-	-	1.54x	2.40x	1.23x	2.21x	-	-	-
Interest Coverage	-94.87x	-4.48x	-2.17x	1.40x	0.76x	1.57x	-2.14x	-60.86x	-18.77x	-4.98x
Total Equity+	205.9M	229.65M	224.01M	207.17M	210.94M	216.88M	213.41M	93.95M	34.4M	24.95M
Equity Growth %	26.55%	0.12%	-0.02%	-0.08%	0.02%	0.03%	-0.02%	-0.56%	-0.63%	-0.27%
Book Value per Share	94.75	30.94	24.15	16.21	15.95	16.36	16.01	6.92	2.50	1.53
Total Shareholders' Equity	205.9M	229.65M	224.01M	207.17M	210.94M	216.88M	213.41M	93.95M	34.4M	24.95M
Common Stock	8K	27K	31K	38K	39K	40K	42K	42K	43K	47K
Retained Earnings	-85.14M	-114.23M	-167.44M	-185.37M	-187.12M	-184.91M	-194.97M	-318.3M	-381.52M	-410.8M
Treasury Stock	0	-531K	-1.27M	-3.27M	-8.18M	-10M	-10.72M	-11.17M	-11.41M	-11.41M
Accumulated OCI	-155K	-702K	-1.38M	-1.23M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-10.67M	2.1M	2.35M	23.48M	26.02M	20.3M	12.42M	1.96M	8.14M	-14.1M
Operating CF Margin %	-0.76%	0.01%	0.01%	0.09%	0.09%	0.07%	0.04%	0.01%	0.03%	-0.06%
Operating CF Growth %	-10.86%	1.2%	0.12%	8.98%	0.11%	-0.22%	-0.39%	-0.84%	3.14%	-2.73%
Net Income	-42.59M	-29.09M	-53.21M	3.19M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Depreciation & Amortization	841K	12.63M	14.19M	13.17M	13.94M	15.3M	13.17M	13.21M	10.88M	9.93M
Stock-Based Compensation	33.71M	29.25M	34M	14.68M	10.34M	5.39M	4.76M	4.09M	3.76M	1.97M
Deferred Taxes	-16.46M	-14.13M	6.65M	46K	35K	120K	198K	-225K	-145K	-276K
Other Non-Cash Items	15.09M	8.62M	3.03M	-2.35M	4.36M	4.27M	5.66M	111.99M	55.95M	6.44M
Working Capital Changes	-1.27M	-5.18M	-2.31M	-5.26M	-913K	-6.99M	-1.3M	-3.77M	914K	-2.89M
Change in Receivables	-893K	-5.83M	-8.99M	-12.84M	-6.98M	-1.99M	-7.65M	6.62M	6.51M	9.47M
Change in Inventory	-2.25M	-2.4M	9.84M	7.15M	-2.07M	0	-1.03M	0	0	0
Change in Payables	1.57M	3.56M	-3.14M	249K	6.03M	-13.88M	8.44M	-9.94M	4.76M	-2.18M
Cash from Investing+	-93.81M	-12.03M	-8.13M	-22.59M	-11.96M	-4.27M	-2.99M	-5.44M	-7.11M	-6.21M
Capital Expenditures	-3.98M	-10.93M	-8.13M	-1.47M	-4.71M	-64K	-2.99M	-4.4M	-5.86M	-6.21M
CapEx % of Revenue	0.28%	0.06%	0.04%	0.01%	0.02%	0%	0.01%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-121K	-1.05M	-6.47M	-1.39M	0	-2.78M	0	0	0	0
Cash from Financing+	111.94M	6.55M	12.31M	1.79M	-13.15M	-13.62M	2.47M	-5.45M	-10.77M	15.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-1.19M	2.74M	-1.99M	-3.32M	-515K	210K	-448K	-768K	10.19M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-14.65M	-8.83M	-5.78M	22.01M	21.31M	17.45M	9.43M	-2.44M	2.27M	-20.32M
FCF Margin %	-1.04%	-0.05%	-0.03%	0.09%	0.08%	0.06%	0.03%	-0.01%	0.01%	-0.08%
FCF Growth %	-9.12%	0.4%	0.35%	4.81%	-0.03%	-0.18%	-0.46%	-1.26%	1.93%	-9.93%
FCF per Share	-6.74	-1.19	-0.62	1.72	1.61	1.32	0.71	-0.18	0.17	-1.25
FCF Conversion (FCF/Net Income)	0.13x	-0.07x	-0.04x	-1.31x	-14.89x	9.20x	-1.24x	-0.02x	-0.13x	0.48x
Interest Paid	3K	3.79M	0	0	5.39M	3.8M	1.72M	1.76M	0	0
Taxes Paid	123K	87K	0	0	135K	843K	356K	1.01M	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-79.24%	-13.36%	-23.46%	-8.32%	-0.84%	1.03%	-4.68%	-80.25%	-98.5%	-98.64%
Return on Invested Capital (ROIC)	-27%	-9.95%	-5.84%	3.31%	1.56%	2.5%	-1.46%	-51.65%	-53.62%	-33.47%
Gross Margin	27.24%	28.39%	30.85%	35.45%	30.97%	30.76%	25.98%	25.93%	26.31%	23.88%
Net Margin	-599.92%	-15.57%	-25.13%	-7.16%	-0.62%	0.71%	-3.06%	-34.15%	-21.19%	-11.5%
Debt / Equity	0.25x	0.22x	0.28x	0.27x	0.31x	0.23x	0.25x	0.50x	1.00x	1.50x
Interest Coverage	-94.87x	-4.48x	-2.17x	1.40x	0.76x	1.57x	-2.14x	-60.86x	-18.77x	-4.98x
FCF Conversion	0.13x	-0.07x	-0.04x	-1.31x	-14.89x	9.20x	-1.24x	-0.02x	-0.13x	0.48x
Revenue Growth	368.76%	1225.92%	13.3%	18.23%	12.55%	10.31%	5.96%	9.68%	-17.37%	-14.67%

Revenue by Segment

	2015	2016	2017	2019	2020	2021	2022	2023	2024
Fluent	-	-	-	277.83M	304.08M	38.6M	79.6M	289.08M	240.81M
Fluent Growth	-	-	-	-	9.45%	-87.31%	106.22%	263.17%	-16.70%
Others	-	-	-	3.85M	6.64M	-	-	9.32M	-
Others Growth	-	-	-	-	72.46%	-	-	-	-
Performance Marketing	7.68M	131.38M	141.9M	-	-	-	-	-	-
Performance Marketing Growth	-	1611.15%	8.01%	-	-	-	-	-	-
Information Services	6.41M	55.45M	78.36M	-	-	-	-	-	-
Information Services Growth	-	764.71%	41.32%	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2019	2020	2021	2022	2023	2024
UNITED STATES	-	167.57M	211.31M	-	-	-	-	-	172.68M
UNITED STATES Growth	-	-	26.10%	-	-	-	-	-	-
Non-US	-	-	-	-	-	-	-	-	81.94M
Non-US Growth	-	-	-	-	-	-	-	-	-
Non Us	-	19.27M	8.96M	-	-	-	-	-	-
Non Us Growth	-	-	-53.49%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Fluent, Inc. (FLNT) reported $212.4M in revenue for fiscal year 2024. This represents a 282% increase from $55.6M in 2011.

Fluent, Inc. (FLNT) saw revenue decline by 14.7% over the past year.

Fluent, Inc. (FLNT) reported a net loss of $26.3M for fiscal year 2024.

Dividend & Returns

Fluent, Inc. (FLNT) has a return on equity (ROE) of -98.6%. Negative ROE indicates the company is unprofitable.

Fluent, Inc. (FLNT) had negative free cash flow of $9.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Fluent, Inc. (FLNT) 10-Year Financial Performance & Capital Metrics

FLNT • • Industrial / General

Communication ServicesAdvertising & MarketingSpecialized Digital Marketing ServicesPerformance Marketing Specialists

Revenue $255M -14.7%
EBITDA -$14M +72.1%
Net Income -$29M +53.7%
EPS (Diluted) -1.80 +60.8%
Gross Margin 23.88% -9.2%
EBITDA Margin -5.39% +67.3%
Operating Margin -9.29% +53.9%
Net Margin -11.5% +45.7%
ROE -98.64% -0.1%
ROIC -33.47% +37.6%
Debt/Equity 1.50 +49.6%
Interest Coverage -4.98 +73.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 89 (top 11%)
✓Efficient asset utilization: 2.7x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 18.1% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y55.88%

5Y-2%

3Y-8.21%

TTM-18.94%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.39%

EPS CAGR

10Y-

5Y-

3Y-

TTM37.91%

ROCE

10Y Avg-21.79%

5Y Avg-34.44%

3Y Avg-57.87%

Latest-51.67%

Peer Comparison

Performance Marketing Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QNSTQuinStreet, Inc.	828.01M	14.59	180.79	78.27%	0.96%	4.3%	10.01%	0.04
XNETXunlei Limited	470.86M	7.66	80.63	-11.16%	315.31%	79.34%	4.81%	0.09
SDMSmart Digital Group Limited Ordinary Shares	49.44M	1.85	28.91	121.8%	7.88%	30.89%		0.05
TZOOTravelzoo	66.47M	6.08	5.74	-0.68%	8.83%	180.99%	31.48%	1.86
HAOHaoxi Health Technology Limited	20.63M	1.50	1.42	71.88%	1.73%	8.43%		0.11
STFSStar Fashion Culture Holdings Limited	5.43M	0.12	0.13	57.6%	1.52%	0.51%	100%	0.24
BAOSBaosheng Media Group Holdings Limited	4.36M	2.84	-0.16	-32.3%	-18.58%	-193.72%		0.05
TNMGTNL Mediagene	97.49M	2.36	-0.68	35.31%	-175.29%	-156.3%		0.64

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	14.09M	186.84M	211.69M	250.28M	281.68M	310.72M	329.25M	361.13M	298.4M	254.62M
Revenue Growth %	3.69%	12.26%	0.13%	0.18%	0.13%	0.1%	0.06%	0.1%	-0.17%	-0.15%
Cost of Goods Sold+	10.25M	133.8M	147.41M	161.56M	194.44M	215.13M	243.72M	267.49M	219.88M	193.82M
COGS % of Revenue	0.73%	0.72%	0.7%	0.65%	0.69%	0.69%	0.74%	0.74%	0.74%	0.76%
Gross Profit+	3.84M	53.04M	65.31M	88.72M	87.25M	95.58M	85.53M	93.65M	78.52M	60.8M
Gross Margin %	0.27%	0.28%	0.31%	0.35%	0.31%	0.31%	0.26%	0.26%	0.26%	0.24%
Gross Profit Growth %	16.85%	12.82%	0.23%	0.36%	-0.02%	0.1%	-0.11%	0.09%	-0.16%	-0.23%
Operating Expenses+	48.24M	87.08M	86.33M	77.35M	82.03M	87.2M	90.2M	213.24M	138.65M	84.46M
OpEx % of Revenue	3.42%	0.47%	0.41%	0.31%	0.29%	0.28%	0.27%	0.59%	0.46%	0.33%
Selling, General & Admin	47.4M	70.39M	67.07M	49.67M	59.61M	58.48M	60.89M	54.89M	54.51M	55.01M
SG&A % of Revenue	3.36%	0.38%	0.32%	0.2%	0.21%	0.19%	0.18%	0.15%	0.18%	0.22%
Research & Development	0	0	2.58M	5.28M	8.05M	12.6M	15.79M	18.16M	18.45M	17.28M
R&D % of Revenue	-	-	0.01%	0.02%	0.03%	0.04%	0.05%	0.05%	0.06%	0.07%
Other Operating Expenses	841K	16.69M	16.68M	13.17M	14.37M	16.12M	13.52M	140.19M	65.68M	12.17M
Operating Income+	-44.4M	-34.04M	-21.02M	11.37M	5.22M	8.38M	-4.67M	-119.59M	-60.13M	-23.66M
Operating Margin %	-3.15%	-0.18%	-0.1%	0.05%	0.02%	0.03%	-0.01%	-0.33%	-0.2%	-0.09%
Operating Income Growth %	-11.33%	0.23%	0.38%	1.54%	-0.54%	0.61%	-1.56%	-24.64%	0.5%	0.61%
EBITDA+	-43.56M	-21.41M	-7.96M	24.55M	19.16M	23.68M	8.51M	-106.38M	-49.25M	-13.73M
EBITDA Margin %	-3.09%	-0.11%	-0.04%	0.1%	0.07%	0.08%	0.03%	-0.29%	-0.17%	-0.05%
EBITDA Growth %	-14.19%	0.51%	0.63%	4.08%	-0.22%	0.24%	-0.64%	-13.51%	0.54%	0.72%
D&A (Non-Cash Add-back)	841K	12.63M	13.05M	13.17M	13.94M	15.3M	13.17M	13.21M	10.88M	9.93M
EBIT	-58.7M	-35.53M	-22.02M	11.37M	5.22M	8.38M	-7.63M	-119.59M	-60.13M	-26.34M
Net Interest Income+	-468K	-7.59M	-9.68M	-8.13M	-6.89M	-5.35M	-2.18M	-1.97M	-3.2M	-4.75M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	468K	7.59M	9.68M	8.13M	6.89M	5.35M	2.18M	1.97M	3.2M	4.75M
Other Income/Expense	-14.77M	-9.09M	-10.69M	-8.13M	-6.89M	-5.35M	-5.15M	-1.97M	-3.2M	-7.43M
Pretax Income+	-59.17M	-43.13M	-31.71M	3.24M	-1.67M	3.03M	-9.81M	-121.56M	-63.33M	-31.09M
Pretax Margin %	-4.2%	-0.23%	-0.15%	0.01%	-0.01%	0.01%	-0.03%	-0.34%	-0.21%	-0.12%
Income Tax+	-16.58M	-14.04M	0	46K	74K	822K	246K	1.78M	-116K	-1.81M
Effective Tax Rate %	1.43%	0.67%	1.68%	-5.54%	1.04%	0.73%	1.03%	1.01%	1%	0.94%
Net Income+	-84.53M	-29.09M	-53.21M	-17.93M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Net Margin %	-6%	-0.16%	-0.25%	-0.07%	-0.01%	0.01%	-0.03%	-0.34%	-0.21%	-0.11%
Net Income Growth %	-22.93%	0.66%	-0.83%	0.66%	0.9%	2.26%	-5.56%	-11.26%	0.49%	0.54%
Net Income (Continuing)	-42.59M	-29.09M	-31.71M	3.19M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-38.88	-3.92	-5.22	-1.40	-0.13	0.17	-0.75	-9.09	-4.59	-1.80
EPS Growth %	-53%	0.9%	-0.33%	0.73%	0.91%	2.31%	-5.41%	-11.12%	0.5%	0.61%
EPS (Basic)	-38.88	-3.92	-5.22	-1.38	-0.13	0.17	-0.75	-9.09	-4.59	-1.80
Diluted Shares Outstanding	2.17M	7.42M	9.28M	12.78M	13.23M	13.25M	13.33M	13.57M	13.77M	16.26M
Basic Shares Outstanding	2.17M	7.42M	9.28M	12.78M	13.23M	13.1M	13.33M	13.57M	13.77M	16.26M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	37.62M	43.1M	56.98M	68.39M	81.52M	86.19M	107.2M	92.22M	78.41M	65.95M
Cash & Short-Term Investments	13.46M	10.09M	16.63M	17.77M	18.68M	21.09M	34.47M	25.55M	15.8M	9.44M
Cash Only	13.46M	10.09M	16.63M	17.77M	18.68M	21.09M	34.47M	25.55M	15.8M	9.44M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	21.22M	30.96M	36.28M	48.65M	60.91M	62.67M	70.23M	63.16M	56.53M	46.53M
Days Sales Outstanding	549.77	60.48	62.55	70.95	78.93	73.62	77.85	63.84	69.15	66.7
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	2.93M	2.05M	2.27M	1.97M	0	0	0	3.51M	6.07M	9.98M
Total Non-Current Assets+	251.57M	268.81M	260.02M	224.88M	235.58M	224.03M	210.98M	91.75M	33.46M	27.66M
Property, Plant & Equipment	1.06M	1.35M	1.78M	1.38M	12.73M	10.48M	8.26M	6.17M	3.99M	1.87M
Fixed Asset Turnover	13.27x	138.40x	119.06x	181.36x	22.13x	29.63x	39.85x	58.57x	74.86x	135.87x
Goodwill	161.75M	166.26M	166.26M	159.79M	164.77M	165.09M	165.09M	55.11M	1.26M	0
Intangible Assets	87.44M	98.53M	89.71M	61.81M	55.6M	45.42M	35.75M	28.75M	26.81M	21.8M
Long-Term Investments	-18.88M	0	0	1.48M	1.48M	1.48M	0	0	0	0
Other Non-Current Assets	1.31M	2.67M	2.28M	1.89M	2.47M	1.56M	1.89M	1.73M	1.41M	3.99M
Total Assets+	289.19M	311.91M	317M	293.27M	317.09M	310.22M	318.18M	183.97M	111.87M	93.62M
Asset Turnover	0.05x	0.60x	0.67x	0.85x	0.89x	1.00x	1.03x	1.96x	2.67x	2.72x
Asset Growth %	27.8%	0.08%	0.02%	-0.07%	0.08%	-0.02%	0.03%	-0.42%	-0.39%	-0.16%
Total Current Liabilities+	21.06M	26.16M	32.78M	33.37M	52.23M	50.22M	57.94M	50.22M	49.21M	64.68M
Accounts Payable	8.86M	14.72M	7.41M	7.86M	21.57M	7.69M	16.13M	6.19M	10.95M	8.78M
Days Payables Outstanding	315.52	40.17	18.34	17.75	40.5	13.05	24.16	8.45	18.18	16.53
Short-Term Debt	2.25M	4.13M	2.75M	3.5M	9.15M	7.29M	5M	5M	5M	31.61M
Deferred Revenue (Current)	783K	318K	298K	444K	1000K	1000K	651K	1000K	430K	556K
Other Current Liabilities	1.01M	1.5M	13.35M	0	-2.28M	0	0	0	0	0
Current Ratio	1.79x	1.65x	1.74x	2.05x	1.56x	1.72x	1.85x	1.84x	1.59x	1.02x
Quick Ratio	1.79x	1.65x	1.74x	2.05x	1.56x	1.72x	1.85x	1.84x	1.59x	1.02x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	62.24M	56.1M	60.21M	52.74M	53.93M	43.12M	46.83M	39.8M	28.25M	3.98M
Long-Term Debt	48.67M	45.88M	60.21M	51.97M	44.1M	33.28M	40.33M	35.59M	25.49M	3.97M
Capital Lease Obligations	0	0	0	0	9.06M	7.29M	5.69M	3.74M	1.7M	9K
Deferred Tax Liabilities	13.57M	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	10.22M	0	766K	775K	2.54M	811K	458K	1.06M	1K
Total Liabilities	83.3M	82.26M	92.99M	86.1M	106.16M	93.33M	104.77M	90.01M	77.46M	68.66M
Total Debt+	50.92M	50.01M	62.96M	55.47M	64.59M	50.16M	53.25M	46.73M	34.48M	37.42M
Net Debt	37.46M	39.92M	46.33M	37.7M	45.91M	29.07M	18.78M	21.18M	18.68M	27.98M
Debt / Equity	0.25x	0.22x	0.28x	0.27x	0.31x	0.23x	0.25x	0.50x	1.00x	1.50x
Debt / EBITDA	-	-	-	2.26x	3.37x	2.12x	6.26x	-	-	-
Net Debt / EBITDA	-	-	-	1.54x	2.40x	1.23x	2.21x	-	-	-
Interest Coverage	-94.87x	-4.48x	-2.17x	1.40x	0.76x	1.57x	-2.14x	-60.86x	-18.77x	-4.98x
Total Equity+	205.9M	229.65M	224.01M	207.17M	210.94M	216.88M	213.41M	93.95M	34.4M	24.95M
Equity Growth %	26.55%	0.12%	-0.02%	-0.08%	0.02%	0.03%	-0.02%	-0.56%	-0.63%	-0.27%
Book Value per Share	94.75	30.94	24.15	16.21	15.95	16.36	16.01	6.92	2.50	1.53
Total Shareholders' Equity	205.9M	229.65M	224.01M	207.17M	210.94M	216.88M	213.41M	93.95M	34.4M	24.95M
Common Stock	8K	27K	31K	38K	39K	40K	42K	42K	43K	47K
Retained Earnings	-85.14M	-114.23M	-167.44M	-185.37M	-187.12M	-184.91M	-194.97M	-318.3M	-381.52M	-410.8M
Treasury Stock	0	-531K	-1.27M	-3.27M	-8.18M	-10M	-10.72M	-11.17M	-11.41M	-11.41M
Accumulated OCI	-155K	-702K	-1.38M	-1.23M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-10.67M	2.1M	2.35M	23.48M	26.02M	20.3M	12.42M	1.96M	8.14M	-14.1M
Operating CF Margin %	-0.76%	0.01%	0.01%	0.09%	0.09%	0.07%	0.04%	0.01%	0.03%	-0.06%
Operating CF Growth %	-10.86%	1.2%	0.12%	8.98%	0.11%	-0.22%	-0.39%	-0.84%	3.14%	-2.73%
Net Income	-42.59M	-29.09M	-53.21M	3.19M	-1.75M	2.21M	-10.06M	-123.33M	-63.22M	-29.28M
Depreciation & Amortization	841K	12.63M	14.19M	13.17M	13.94M	15.3M	13.17M	13.21M	10.88M	9.93M
Stock-Based Compensation	33.71M	29.25M	34M	14.68M	10.34M	5.39M	4.76M	4.09M	3.76M	1.97M
Deferred Taxes	-16.46M	-14.13M	6.65M	46K	35K	120K	198K	-225K	-145K	-276K
Other Non-Cash Items	15.09M	8.62M	3.03M	-2.35M	4.36M	4.27M	5.66M	111.99M	55.95M	6.44M
Working Capital Changes	-1.27M	-5.18M	-2.31M	-5.26M	-913K	-6.99M	-1.3M	-3.77M	914K	-2.89M
Change in Receivables	-893K	-5.83M	-8.99M	-12.84M	-6.98M	-1.99M	-7.65M	6.62M	6.51M	9.47M
Change in Inventory	-2.25M	-2.4M	9.84M	7.15M	-2.07M	0	-1.03M	0	0	0
Change in Payables	1.57M	3.56M	-3.14M	249K	6.03M	-13.88M	8.44M	-9.94M	4.76M	-2.18M
Cash from Investing+	-93.81M	-12.03M	-8.13M	-22.59M	-11.96M	-4.27M	-2.99M	-5.44M	-7.11M	-6.21M
Capital Expenditures	-3.98M	-10.93M	-8.13M	-1.47M	-4.71M	-64K	-2.99M	-4.4M	-5.86M	-6.21M
CapEx % of Revenue	0.28%	0.06%	0.04%	0.01%	0.02%	0%	0.01%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-121K	-1.05M	-6.47M	-1.39M	0	-2.78M	0	0	0	0
Cash from Financing+	111.94M	6.55M	12.31M	1.79M	-13.15M	-13.62M	2.47M	-5.45M	-10.77M	15.21M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-1.19M	2.74M	-1.99M	-3.32M	-515K	210K	-448K	-768K	10.19M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-14.65M	-8.83M	-5.78M	22.01M	21.31M	17.45M	9.43M	-2.44M	2.27M	-20.32M
FCF Margin %	-1.04%	-0.05%	-0.03%	0.09%	0.08%	0.06%	0.03%	-0.01%	0.01%	-0.08%
FCF Growth %	-9.12%	0.4%	0.35%	4.81%	-0.03%	-0.18%	-0.46%	-1.26%	1.93%	-9.93%
FCF per Share	-6.74	-1.19	-0.62	1.72	1.61	1.32	0.71	-0.18	0.17	-1.25
FCF Conversion (FCF/Net Income)	0.13x	-0.07x	-0.04x	-1.31x	-14.89x	9.20x	-1.24x	-0.02x	-0.13x	0.48x
Interest Paid	3K	3.79M	0	0	5.39M	3.8M	1.72M	1.76M	0	0
Taxes Paid	123K	87K	0	0	135K	843K	356K	1.01M	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-79.24%	-13.36%	-23.46%	-8.32%	-0.84%	1.03%	-4.68%	-80.25%	-98.5%	-98.64%
Return on Invested Capital (ROIC)	-27%	-9.95%	-5.84%	3.31%	1.56%	2.5%	-1.46%	-51.65%	-53.62%	-33.47%
Gross Margin	27.24%	28.39%	30.85%	35.45%	30.97%	30.76%	25.98%	25.93%	26.31%	23.88%
Net Margin	-599.92%	-15.57%	-25.13%	-7.16%	-0.62%	0.71%	-3.06%	-34.15%	-21.19%	-11.5%
Debt / Equity	0.25x	0.22x	0.28x	0.27x	0.31x	0.23x	0.25x	0.50x	1.00x	1.50x
Interest Coverage	-94.87x	-4.48x	-2.17x	1.40x	0.76x	1.57x	-2.14x	-60.86x	-18.77x	-4.98x
FCF Conversion	0.13x	-0.07x	-0.04x	-1.31x	-14.89x	9.20x	-1.24x	-0.02x	-0.13x	0.48x
Revenue Growth	368.76%	1225.92%	13.3%	18.23%	12.55%	10.31%	5.96%	9.68%	-17.37%	-14.67%

Revenue by Segment

	2015	2016	2017	2019	2020	2021	2022	2023	2024
Fluent	-	-	-	277.83M	304.08M	38.6M	79.6M	289.08M	240.81M
Fluent Growth	-	-	-	-	9.45%	-87.31%	106.22%	263.17%	-16.70%
Others	-	-	-	3.85M	6.64M	-	-	9.32M	-
Others Growth	-	-	-	-	72.46%	-	-	-	-
Performance Marketing	7.68M	131.38M	141.9M	-	-	-	-	-	-
Performance Marketing Growth	-	1611.15%	8.01%	-	-	-	-	-	-
Information Services	6.41M	55.45M	78.36M	-	-	-	-	-	-
Information Services Growth	-	764.71%	41.32%	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2019	2020	2021	2022	2023	2024
UNITED STATES	-	167.57M	211.31M	-	-	-	-	-	172.68M
UNITED STATES Growth	-	-	26.10%	-	-	-	-	-	-
Non-US	-	-	-	-	-	-	-	-	81.94M
Non-US Growth	-	-	-	-	-	-	-	-	-
Non Us	-	19.27M	8.96M	-	-	-	-	-	-
Non Us Growth	-	-	-53.49%	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Fluent, Inc. (FLNT) reported $212.4M in revenue for fiscal year 2024. This represents a 282% increase from $55.6M in 2011.

Fluent, Inc. (FLNT) saw revenue decline by 14.7% over the past year.

Fluent, Inc. (FLNT) reported a net loss of $26.3M for fiscal year 2024.

Dividend & Returns

Fluent, Inc. (FLNT) has a return on equity (ROE) of -98.6%. Negative ROE indicates the company is unprofitable.

Fluent, Inc. (FLNT) had negative free cash flow of $9.7M in fiscal year 2024, likely due to heavy capital investments.