FLNT on Nasdaq

Fluent, Inc.

American advertising services company based in New York, active since 2008. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerFLNT on Nasdaq2
  • IndustryServices-Advertising2
  • HeadquartersShanghai, China2
  • Incorporated inDE3
  • Business address300 Vesey Street, 9Th Floor, New York, Ny 102823
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300P3G8O165ICY4292
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2

This business description should be read in conjunction with our audited consolidated financial statements and accompanying notes thereto appearing elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), which are incorporated herein by this reference.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-9.7%Operating margin5
-13.0%Net margin5
-18.0%Revenue growth, 20255
-149.2%Return on equity5
0.21×Debt to equity5
-$1.5MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Owned And Operated brought in 45% of the revenue Fluent, Inc. broke down this way in fiscal 2025.

  1. Owned And Operated$94.5M545%down 44% from 2024
  2. Commerce Media Solutions$82.3M539%up 99% from 2024
  3. Call Solutions$24.8M512%down 20% from 2024
  4. Ad Parlor$7.2M53%down 28% from 2024
  5. Product and Service, Other$47.0K50%down 99% from 2024
Products and services by year
Products and services20242025
Owned And Operated$168.4M$94.5M
Commerce Media Solutions$41.3M$82.3M
Call Solutions$31.1M$24.8M
Ad Parlor$9.9M$7.2M
Product and Service, Other$3.9M$47.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development6¢$11.8M
  • Other costs93¢$193.8M
  • Interest1¢$3.1M
  • Income tax0¢$2.0K

Out of $208.8M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$208.8M in 2025−26% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $281.7M$281.7M20192020: $310.7M$310.7M2020+10%2021: $329.2M$329.2M2021+6%2022: $361.1M$361.1M2022+10%2023: $298.4M$298.4M2023−17%2024: $254.6M$254.6M2024−15%2025: $208.8M$208.8M2025−18%
Operating income6789105-$20.3M in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2019: $5.2M$5.2M20192020: $8.4M$8.4M2020+61%2021: -$4.7M-$4.7M20212022: -$119.6M-$119.6M2022+2464%2023: -$60.1M-$60.1M2023−50%2024: -$23.7M-$23.7M2024−61%2025: -$20.3M-$20.3M2025−14%
Net income6789105-$27.2M in 2025+1455% since 2019
-$150.0M-$100.0M-$50.0M0$50.0M2019: -$1.7M-$1.7M20192020: $2.2M$2.2M20202021: -$10.1M-$10.1M20212022: -$123.3M-$123.3M2022+1126%2023: -$63.2M-$63.2M2023−49%2024: -$29.3M-$29.3M2024−54%2025: -$27.2M-$27.2M2025−7%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$208.8M$254.6M
Cost of revenue (exclusive of depreciation and amortization)$157.5M$193.8M
Sales and marketing$14.5M$17.3M
Product development$11.8M$17.3M
General and administrative$34.7M$37.7M
Depreciation and amortization$9.8M$9.9M
Goodwill and intangible assets impairment$774.0K$2.2M
Total costs and expenses$229.1M$278.3M
Loss from operations-$20.3M-$23.7M
Interest expense, net-$3.1M-$4.7M
Fair value adjustment of Convertible Notes, with related parties-$14.0K-$1.7M
Loss on early extinguishment of debt-$3.8M-$1.0M
Loss before income taxes-$27.2M-$31.1M
Income tax benefit$2.0K$1.8M
Net loss-$27.2M-$29.3M
Basic (in dollars per share)-$1.05-$1.80
Diluted (in dollars per share)-$1.05-$1.80
Basic (in shares)26.0M shares16.3M shares
Diluted (in shares)26.0M shares16.3M shares

Compare Fluent, Inc. with another company

Leadership

Who has led Fluent, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (27)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBarbara Kohn named May 30, 202455

Former names

  • Cogint, Inc.Sep 26, 2016 to Apr 6, 20183
  • IDI, Inc.May 20, 2015 to Sep 21, 20163
  • Tiger Media, Inc.Jan 7, 2013 to May 15, 20153
  • Searchmedia Holdings LtdApr 27, 2009 to Dec 31, 20123
  • ID ARIZONA CORP.Mar 31, 2009 to Nov 3, 20093

Timeline

  1. Dec 3, 2021New chief executive Donald Huntley Patrick becomes CEO13
  2. Mar 29, 2018New chief executive Ryan Schulke becomes CEO14
  3. Mar 24, 2015New chief executive Derek Dubner becomes CEO15
  4. Mar 24, 2015New chief executive Wei Han Tan becomes CEO16
  5. Feb 3, 2010New chief executive Paul Matthew Conway becomes CEO17
  6. Mar 13, 2008Founded Fluent, Inc. is founded2

Filings

334 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 59 major events, 175 insider forms, 36 large holders, 1 private raises, 41 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 16, 20264 EDGAR
  3. Sep 16, 20264 EDGAR
  4. Sep 14, 20264 EDGAR
  5. Sep 10, 2026144 EDGAR
  6. Sep 9, 20264 EDGAR
  7. Sep 1, 2026S-8 EDGAR
  8. Aug 13, 202610-Q EDGAR
  9. Aug 13, 2026SCHEDULE 13G/A EDGAR
  10. Aug 10, 20268-K EDGAR
  11. Jun 26, 20264 EDGAR
  12. Jun 26, 20264 EDGAR
  13. Jun 25, 20264 EDGAR
  14. Jun 25, 20264 EDGAR
  15. Jun 25, 20264 EDGAR
  16. Jun 22, 20268-K EDGAR
  17. Jun 22, 20264 EDGAR
  18. Jun 22, 20264 EDGAR
  19. Jun 18, 20264 EDGAR
  20. Jun 18, 20264 EDGAR

The 334 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

113 open-market trades by officers, directors and large owners since October 2021: 91 buys and 22 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026Rice Shawn GBuy12,376$3.38$41.8KForm 4
Sep 14, 2026GEYGAN JAMESDirectorBuy12,376$3.38$41.8KForm 4
Sep 10, 2026Graff David AllenDirectorSale25,000$3.00$75.0KForm 4
Sep 4, 2026Schulke RyanChief Strategy OfficerBuy2,823$3.08$8.7KForm 4
Sep 1, 2026Rice Shawn GSale148$3.23$478Form 4
Sep 1, 2026GEYGAN JAMESDirectorSale148$3.23$478Form 4
Aug 28, 2026Rice Shawn GSale665$3.58$2.4KForm 4
Aug 28, 2026GEYGAN JAMESDirectorSale665$3.58$2.4KForm 4
Aug 25, 2026Rice Shawn GSale2$4.15$8Form 4
Aug 25, 2026GEYGAN JAMESDirectorSale2$4.15$8Form 4
Aug 17, 2026Rice Shawn GSale500$4.05$2.0KForm 4
Aug 17, 2026GEYGAN JAMESDirectorSale500$4.05$2.0KForm 4
Aug 14, 2026Rice Shawn GSale600$4.15$2.5KForm 4
Aug 14, 2026GEYGAN JAMESDirectorSale600$4.15$2.5KForm 4
Jun 12, 2026GEYGAN JAMESDirectorBuy61,368$2.75$168.8KForm 4
Jun 12, 2026Geygan KathleenBuy61,368$2.75$168.8KForm 4
Jun 1, 2026Conlin MatthewChief Customer OfficerBuy5,000$2.07$10.3KForm 4
Jun 1, 2026Schulke RyanChief Strategy OfficerBuy5,000$2.07$10.3KForm 4
May 26, 2026Patrick Donald HuntleyChief Executive OfficerSale286$2.49$712Form 4
May 26, 2026Perfit Ryan MacNabChief Financial OfficerSale9,604$2.59$24.9KForm 4

All 113 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 13, 2024Raised $10 million in a private offering of securities Form D: 6 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 27. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bleichroeder LP1,142,857$4.3M0.8%−285,714
Vanguard Capital Management LLC519,909$1.9M0.0%+152,292
Mink Brook Asset Management LLC409,033$1.5M0.7%+70,049
Sei Investments Co254,055$947.6K0.0%−254,055
BlackRock, Inc.174,892$652.3K0.0%+12,431
Geode Capital Management, LLC173,637$648.0K0.0%−7,347
Vanguard Fiduciary Trust Co95,040$354.5K0.0%+647
State Street Corp69,350$258.7K0.0%No change
Bleakley Financial Group, LLC66,955$249.7K0.0%New
Bridgeway Capital Management, LLC53,214$198.5K0.0%No change
Empowered Funds, LLC53,214$198.5K0.0%No change
Northern Trust Corp36,950$137.8K0.0%+13,488
CacheTech Inc.31,060$115.9K0.0%+850
Salvus Wealth Management, LLC30,008$111.9K0.1%+10,560
4wealth Advisors, Inc.26,917$96.4K0.1%+4,680
Bank Of America Corp /de/19,704$73.5K0.0%−147
Sequoia Financial Advisors, LLC10,190$38.0K0.0%No change
Steward Partners Investment Advisory, LLC3,571$13.3K0.0%No change
Vanguard Global Advisers, LLC2,184$8.1K0.0%No change
UBS Group AG1,823$6.8K0.0%−267
First Bancorp, Inc /ME/209$7800.0%New
Key Financial Inc187$6980.0%No change
SBI Securities Co., Ltd.183$6830.0%No change
Morgan Stanley143$5330.0%−285
Tower Research Capital LLC (TRC)36$1340.0%−1,382

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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