Fluent, Inc (FLNT) Income Statement
FLNT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFLNT revenue and net income
Where FLNT's revenue goes
2025Each bar shows an amount and its share of revenue. FLNT kept −13.0% of revenue as net income.
FLNT profit margins
FLNT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −18.0% | −16.7% | −7.6% | +30.9% |
| Gross profit | −31.8% | −23.8% | −15.4% | +26.9% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FLNT quarterly EPS vs estimates
Fluent beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.13).
FLNT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $208.8M | $254.6M | $298.4M | $361.1M | $329.2M | $310.7M | $281.7M | $250.3M | $211.7M | $186.8M |
| Cost of revenue | $167.3M | $193.8M | $219.9M | $267.5M | $243.7M | $215.1M | $194.4M | $161.6M | $147.4M | $133.8M |
| Gross profit | $41.5M | $60.8M | $78.5M | $93.6M | $85.5M | $95.6M | $87.2M | $88.7M | $65.3M | $53.0M |
| Research & development | $11.8M | $17.3M | $18.5M | $18.2M | $15.8M | $12.6M | $8.1M | $5.3M | $2.6M | $2.6M |
| Sales, general & admin | $49.2M | $55.0M | $54.5M | $54.9M | $60.9M | $58.5M | $59.6M | $49.7M | $77.0M | $70.4M |
| Total operating expenses | $61.0M | $84.5M | $138.6M | $213.2M | $90.2M | $87.2M | $82.0M | $77.3M | $86.3M | $87.1M |
| Operating income | −$19.5M | −$23.7M | −$60.1M | −$119.6M | −$4.7M | $8.4M | $5.2M | $11.4M | −$21.0M | −$34.0M |
| Interest income | — | — | — | — | — | — | $6.9M | $8.1M | $9.7M | $7.6M |
| Interest expense | $3.1M | $4.7M | $3.2M | $2.0M | $2.2M | $5.3M | $6.9M | $8.1M | $9.7M | $7.6M |
| Income before taxes | −$27.2M | −$31.1M | −$63.3M | −$121.6M | −$9.8M | $3.0M | −$1.7M | $3.2M | −$31.7M | −$43.1M |
| Income taxes | −$2,000 | −$1.8M | −$116,000 | $1.8M | $246,000 | $822,000 | $74,000 | $46,000 | $1.1M | −$14.0M |
| Net income | −$27.2M | −$29.3M | −$63.2M | −$123.3M | −$10.1M | $2.2M | −$1.7M | −$17.9M | −$53.2M | −$29.1M |
| EBITDA | −$14.3M | −$16.4M | −$49.3M | −$106.4M | $5.5M | $23.7M | $19.2M | $24.5M | −$9.0M | −$22.9M |
| EPS (diluted) | −$0.89 | −$1.17 | −$0.49 | −$0.35 | $0.07 | $1.15 | $0.61 | $0.74 | −$3.34 | −$2.88 |
| Gross margin | 19.9% | 23.9% | 26.3% | 25.9% | 26.0% | 30.8% | 31.0% | 35.4% | 30.9% | 28.4% |
| Operating margin | −9.4% | −9.3% | −20.2% | −33.1% | −1.4% | 2.7% | 1.9% | 4.5% | −9.9% | −18.2% |
| Net margin | −13.0% | −11.5% | −21.2% | −34.2% | −3.1% | 0.7% | −0.6% | −7.2% | −25.1% | −15.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.4M | $44.9M | $61.8M | $47.0M | $44.7M | $55.2M | $65.4M | $64.5M | $58.7M | $66.0M | $72.8M | $66.2M |
| Cost of revenue | $34.4M | $36.5M | $45.5M | $36.2M | $34.4M | $43.8M | $51.5M | $48.9M | $46.1M | $47.3M | $54.7M | $50.1M |
| Gross profit | $14.0M | $8.4M | $16.3M | $10.9M | $10.3M | $11.4M | $13.9M | $15.7M | $12.6M | $18.6M | $18.1M | $16.1M |
| Research & development | $3.0M | $2.8M | $2.9M | $2.6M | $2.9M | $3.4M | $3.6M | $4.1M | $4.7M | $4.8M | $4.4M | $4.5M |
| Sales, general & admin | $14.2M | $9.4M | $12.5M | $12.1M | $12.0M | $12.7M | $13.3M | $13.1M | $13.5M | $15.2M | $15.5M | $13.2M |
| Total operating expenses | $19.0M | $14.6M | $15.4M | $17.2M | $17.4M | $18.5M | $19.3M | $19.5M | $23.0M | $22.6M | $19.9M | $50.0M |
| Operating income | −$5.0M | −$6.2M | $937,000 | −$6.3M | −$7.1M | −$7.1M | −$5.4M | −$3.9M | −$10.4M | −$4.0M | −$1.8M | −$33.9M |
| Interest expense | $637,000 | $605,000 | $2.4M | $3.9M | $702,000 | $880,000 | $1.0M | $1.3M | $1.0M | $1.4M | $784,000 | $936,000 |
| Income before taxes | −$6.2M | −$5.4M | −$4.2M | −$7.6M | −$7.3M | −$8.0M | −$5.3M | −$8.0M | −$12.4M | −$5.4M | −$2.6M | −$34.9M |
| Income taxes | $5,000 | $3,000 | $112,000 | −$240,000 | −$107,000 | $233,000 | −$1.9M | −$35,000 | −$775,000 | $908,000 | −$667,000 | −$1.2M |
| Net income | −$6.2M | −$5.4M | −$4.3M | −$7.3M | −$7.2M | −$8.3M | −$3.4M | −$7.9M | −$11.6M | −$6.3M | −$1.9M | −$33.6M |
| EBITDA | −$3.8M | −$3.1M | −$4.3M | −$1.2M | −$4.1M | −$4.7M | −$1.9M | −$4.3M | −$8.8M | −$1.4M | $982,000 | −$31.3M |
| EPS (diluted) | −$0.19 | −$0.19 | −$0.09 | −$0.23 | −$0.24 | −$0.33 | −$0.18 | −$0.22 | −$0.47 | −$0.30 | −$0.02 | −$0.30 |
| Gross margin | 28.9% | 18.6% | 26.4% | 23.1% | 23.0% | 20.7% | 21.3% | 24.3% | 21.5% | 28.2% | 24.8% | 24.3% |
| Operating margin | −10.2% | −13.8% | 1.5% | −13.4% | −15.9% | −12.8% | −8.3% | −6.0% | −17.7% | −6.0% | −2.4% | −51.2% |
| Net margin | −12.7% | −11.9% | −7.0% | −15.6% | −16.2% | −15.0% | −5.2% | −12.3% | −19.8% | −9.5% | −2.6% | −50.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FLNT's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FLNT financial results
In fiscal year 2025 (ended December 31, 2025), Fluent reported revenue of $208.8 million, down 18.0% from the year before. It had a net loss of $27.2 million, a net profit margin of −13.0%. Diluted earnings per share came to −$0.89. Over five years revenue grew at an average rate of −7.6% a year.
See the FLNT stock overview for the latest quote and news, or the FLNT chart for price history and technical indicators.
FLNT income statement FAQ
What is Fluent's annual revenue?
Fluent reported total revenue of $208.8 million for fiscal year 2025, which ended on December 31, 2025. That was down 18.0% from $254.6 million the previous year.
Is Fluent profitable?
No. Fluent reported a net loss of $27.2 million in fiscal 2025, a net profit margin of −13.0%; its operating margin was −9.4%.
What is Fluent's gross margin?
Fluent's gross margin was 19.9% in fiscal 2025: for every $100 of revenue, Fluent kept $20 after the direct cost of its products and services.
How much does Fluent spend on research and development?
Fluent spent $11.8 million on research and development in fiscal 2025, 5.7% of revenue.
How fast is Fluent growing?
Revenue grew −7.6% a year on average over the last five fiscal years, from $310.7 million to $208.8 million.
What are Fluent's earnings per share?
Fluent earned $-0.89 per diluted share in fiscal 2025, compared with $-1.17 a year earlier.
When will Fluent report its next earnings?
Fluent is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Fluent's fiscal year end?
Fluent's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.