Second Full Quarter as a Standalone Public Company Produces $66.5 Million in Revenue, $4.5 Million in Net Income, Resulting in $0.06 in Basic Earnings Per Share
“We are happy to report record numbers for our three key operating metrics: revenue, adjusted gross profit, and adjusted EBITDA,” stated Ryan Schulke, Fluent’s CEO. “The increased adoption of our performance-based marketing services, coupled with operating efficiencies, has allowed us to deliver a very good quarter for our shareholders.”
Third Quarter Financial Results
For the three months ended September 30, 2018, as compared to the three months ended September 30, 2017:
- Total revenue increased 21% to $66.5 million, from $54.9 million.
- Net income from continuing operations was $4.5 million, compared to net loss from continuing operations of $10.8 million.
- Results from discontinued operations were $0, compared to net loss from discontinued operations of $3.3 million.
- Basic earnings per share from continuing operations was $0.06, compared to a loss of $0.19 per share.
- Adjusted EBITDA grew 56% to $12.4 million, based on net income of $4.5 million, compared to adjusted EBITDA of $7.9 million on net loss of $14.1 million.
- Adjusted gross profit increased 43% to $27.4 million, from $19.2 million. Adjusted gross margin increased 600 basis points to 41%, from 35%.
- Adjusted EBITDA, adjusted gross profit and adjusted gross margin are non-GAAP financial measures. Reconciliation of these non-GAAP measures are provided in the attached tables.
Third Quarter and Recent Business Highlights
- Surpassed 200 million unique email addresses in the Fluent Identity Graph.
- Expanded revenue and margins as a result of consumer re-engagement through lifecycle marketing initiatives.
- Successfully deployed machine learning to enhance audience segmentation and drive incremental monetization.
- Increased scale and profitability in our UK beta launch.
Fluent, Inc. will host a conference call on Wednesday, November 7, 2018, at 4:30 PM ET to discuss its 2018 third quarter financial results. To listen to the conference call on your telephone, please dial (888) 339-0797 for domestic callers or (412) 317-5248 for international callers. To access the live audio webcast, visit the Fluent website at www.fluentco.com. Please log in at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required. Following completion of the earnings call, a recorded replay of the webcast will be available for those unable to participate. To listen to the telephone replay, please dial (877) 344-7529 or (412) 317-0088 with the replay passcode 10123609. The replay will also be available for one week on the Fluent website at www.fluentco.com.
About Fluent, Inc.
Fluent (NASDAQ: FLNT) is the trusted acquisition partner for growing brands. Leveraging our proprietary first-party data asset, Fluent creates marketing programs that deliver better digital advertising experiences for consumers and measurable results for advertisers. Founded in 2010, the company is headquartered in New York City. For more information, visit www.fluentco.com.
This press release and the conference call contain “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and the conference call and speak only as of the date of this press release and the conference call and are advised to consider the factors under the heading “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q and other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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