Fluent 2025 Q3 Earnings Narrowed Losses Highlight Progress

Fluent (FLNT) reported its fiscal 2025 Q3 earnings on Nov 13, 2025, with a 27.1% year-over-year revenue decline to $47.03 million. The company narrowed its per-share loss to $0.27 from $0.48, marking a 43.7% improvement, and reduced its net loss to $7.56 million (4.9% improvement). Guidance included adjusted EBITDA profitability in Q4 2025 and full-year 2026 targets, aligning with its focus on Commerce Media Solutions (CMS) growth.

Revenue

Fluent’s total revenue fell 27.1% to $47.03 million in Q3 2025, driven by a 52% drop in Owned and Operated revenue to $20.7 million. However, CMS revenue surged 81% year-over-year to $18.8 million, now representing 40% of total revenue. The CMS segment’s annualized run rate exceeded $85 million, with gross margins improving 400 basis points to 22%.

Earnings/Net Income

The company reduced its per-share loss to $0.27 from $0.48 and narrowed the net loss to $7.56 million, a 4.9% improvement. Despite remaining unprofitable, the 43.7% reduction in per-share loss signals progress toward breakeven.

Post-Earnings Price Action Review

Following the earnings report, Fluent’s stock price climbed 4.12% in the latest trading day and 3.06% in the most recent full week, though it declined 6.05% month-to-date.

CEO Commentary

CEO Don Patrick highlighted CMS’s 81% YoY growth and its 40% revenue contribution, up from 16% in Q3 2024. Strategic partnerships with Authentic Brands and Databricks, a key leadership hire, and the Rebuy Monetize platform’s 79% MoM ad unit sessions growth were cited as drivers. Patrick expressed confidence in Q4 2025 adjusted EBITDA profitability and full-year 2026 double-digit revenue growth.

Guidance

Fluent expects adjusted EBITDA profitability in Q4 2025, full-year 2025 double-digit revenue growth, and full-year 2026 adjusted EBITDA profitability. CMS is projected to surpass legacy revenue in Q4 2025, with gross margins targeting the high twenties.

Additional News

Fluent announced a strategic partnership with Databricks to enhance data intelligence and collaboration capabilities, alongside a key leadership hire to scale these efforts. The company also expanded its partnership with Authentic Brands, a $32 billion retail sales leader, to leverage its commerce media solutions. Additionally, the Rebuy Monetize platform, integrated with Shopify, reported 1.0 million ad unit sessions in September, a 79% MoM increase, underscoring CMS’s growth potential.