Q2 2024 Fluent Inc Earnings Call Transcript
Key Points
- Fluent Inc (FLNT) has successfully launched its syndicated performance marketplace, showing sequential improvements in both revenue and gross profit.
- The company expects to deliver single-digit consolidated year-over-year growth in Q3 and double-digit growth in Q4.
- Fluent Inc (FLNT) has added new brand partners in grocery, quick-serve restaurant, and travel verticals, which are expected to drive growth.
- The company has stabilized its owned and operated marketplace, providing a foundation for future growth.
- Fluent Inc (FLNT) is optimistic about its Adflow platform, which has shown significant growth and is expected to continue driving revenue.
- Revenue for Q2 2024 was $58.7 million, representing an 11% decline versus Q1 2024.
- Media margin decreased by 29.3% versus Q1 2024, and adjusted EBITDA was negative $4.5 million.
- The company faced unauthorized third-party activity in its ACA business, necessitating a $3.1 million write-down of accounts receivable.
- Fluent Inc (FLNT) exited non-strategic businesses and faced regulatory changes in its call solutions business, impacting revenue.
- The company reported a net loss of $11.6 million and an adjusted net loss of $7.3 million for Q2 2024.
Good afternoon, and welcome. Thank you for joining us to discuss our second quarter 2024 earnings results. With me today are Fluent's CEO, Don Patrick; Interim CFO, Ryan Perfit; and Chief Strategy Officer, Ryan Schulke.
Our call today will begin with comments from Don and Ryan Perfit followed by a question-and-answer session. I would like to remind you that this call is being recorded, live recorded and webcast. A replay of the event will be available following the call on our website. To access the website, please visit our Investor Relations page on our website at www.fluentco.com.
Before we begin, I would like to advise listeners that certain information discussed by management during this conference call will contain forward-looking statements covered under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements made during this call speak only as of the date hereof.
Actual results could differ materially from those stated or implied by our forward
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