Home Top Movers Fluent Inc. (NASDAQ: FLNT) stock plunged during pre-market trading. Here’s what has...

Fluent Inc. (NASDAQ: FLNT) stock plunged during pre-market trading. Here’s what has happened

Fluent Inc. (NASDAQ: FLNT) stock declined by 12.94% at last close while the FLNT stock price falls by 15.19% during the pre-market session. Fluent is a leading success marketing firm that specializes in building positive relationships between customers and brands. Fluent drives intelligent development plans that produce superior results by using our patented first-party network of opted-in customer profiles. Fluent was founded in 2010 and is based in New York City.

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Financial Results

On May 10, 2021 FLNT announced its Q1 2021 financial results. Given below is the summary:

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  • Fluent has generated a revenue of $70.2 million in the first quarter 2021, which is a decrease of 11% compared to the first quarter 2020.
  • The net loss calculated by FLNT for the first quarter 2021 was $6.3 million or $0.08 per share.
  • The adjusted net income totaled fir the Q1 2020 was $0.4 million or $0.00 per share.
  • Also the adjusted EBTIDA for the first quarter 2021 was $4.7 million that represents 6.7% of revenue.
  • And lastly the Media margin calculated was $24.9 million, which is an increase of 45 compared to Q1 2020, and also it represents 35.4% of revenue.

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Ryan Schulke, Fluent’s Chief Executive Officer, commented:

Everyone at Fluent is pumped up as they work to drive their business’s transformation through the Traffic Quality Initiative. FLNT sees a simple, long-term strategic potential to radically improve customer engagement, increase Fluent’s brand loyalty with customers, and increase enterprise value for its stakeholders. FLNT’s first-quarter results were within their guidance ranges, reflecting the investments the company is making to realize its strategic strategy and role Fluent as a market leader.

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The downfall being observed in FLNT’s stock price is mainly due to the financial results which are not as per expectations. Whereas Fluent expects a good comeback this year and is working towards it.

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