Fluent, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting a net loss of $7.9 million, or $0.48 per share. Consolidated revenue for the quarter stood at $63.9 million. The company's Commerce Media Solutions (CMS) segment demonstrated significant growth, generating $10.4 million in revenue, reflecting a triple-digit year-over-year increase.
The CMS segment achieved a 33% gross profit margin and a 33.7% media margin as a percentage of revenue for the quarter. Its annual revenue run rate exceeded $50 million, highlighting the accelerating strategic shift towards this high-growth area. Overall media margin for the consolidated business was $19.9 million, or 31.1% of revenue, with adjusted EBITDA reported at $1.1 million.
Fluent's CEO, Don Patrick, emphasized the company's focus on improving operational performance and targeting double-digit consolidated revenue growth and enhanced profitability in 2025. This outlook is driven by the continued expansion of commerce media, which is projected to account for over 25% of digital media spending by 2026, positioning Fluent to capitalize on this market shift.
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