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Fluent Announces Third Quarter 2019 Financial Results

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Q3 2019 revenue of $64.6Amillion, downA3%Aover Q3 2018



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Net loss from continuing operations of $4.5Amillion, or $0.06Aper share



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Media margin of $21.3Amillion, downA17%Aover Q3 2018 and representing 33.0%Aof revenue



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Adjusted EBITDA of $4.3Amillion, representing 7%Aof revenue



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Adjusted net loss of $1.0Amillion, orA$0.01 per share

NEW YORK, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the third quarter ended September 30, 2019.Ryan Schulke, Fluenta??s Chief Executive Officer, commented, "Our third quarter results reflect a confluence of factors, including certain uncollectible receivables, ebbs with several business partners and organizational re-alignment, which combined yielded results below expectations. We believe we have addressed each of these challenges and we have since seen core commercial trending improve. We have updated our full year guidance to reflect third quarter results and our expectations for the fourth quarter. We continue to believe our market opportunity and growth strategy are intact and sound, and well-geared to our unique set of core competencies in digital performance marketing.Third Quarter Financial Summary

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Revenue of $64.6Amillion, a decrease ofA3%Aover Q3 2018



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Net loss from continuing operations ofA$4.5Amillion, orA$0.06Aper share, compared to net income from continuing operations ofA$4.5Amillion, or $ 0.06Aper share, in Q3 2018



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Media margin of $21.3Amillion, a decrease of 17% over Q3 2018 and representing 33.0%Aof revenue



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Adjusted EBITDA ofA$4.3Amillion, representing 7%Aof revenue



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Adjusted net loss of $1.0Amillion, or $0.01Aper share



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Media margin, adjusted EBITDA and adjusted net (loss) income are non-GAAP financial measures. Media margin is defined as revenue minus cost of revenue (exclusive of depreciation and amortization) attributable to variable costs paid for media and related expenses. Adjusted EBITDA is defined as net (loss) income from continuing operations, excluding (1) income taxes, (2) interest expense, net, (3) depreciation and amortization, (4) write-off of long-lived assets, (5) share-based compensation expense, (6) acquisition-related costs, (7) restructuring and certain severance costs, (8) certain litigation and otherArelated costs, and (9) one-time items. Adjusted net (loss) income is defined as net (loss) income from continuing operations, excluding (1) write-off of long-lived assets, (2) share-based compensation expense, (3) acquisition-related costs, (4) restructuring and certain severance costs, (5) certain litigation and other related costs, and (6) one-time items. Adjusted net (loss) income is also presented on a per share (basic and diluted) basis. Reconciliations of these non-GAAP measures are provided below.Business Outlook - 2019
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