Fluent Q1 Revenue Drops 19% to $44.9M, CMS Run Rate Tops $110M
FLNT•Fluent reported Q1 2026 revenue of $44.9 million, down 19% year-over-year as Owned and Operated revenue fell 50% to $15.7 million. Commerce Media Solutions revenue surged 104% to $25.9 million—58% of total—pushing its annual run rate above $110 million and narrowing net loss to $5.4 million ($0.17/share).
1. Q1 Financial Results
In the first quarter ended March 31, 2026, Fluent generated revenue of $44.9 million, down 19% from $55.2 million in Q1 2025. Net loss narrowed by 35% to $5.4 million ($0.17 per share), while adjusted EBITDA loss was $3.6 million, representing 8% of revenue.
2. Commerce Media Solutions Performance
Commerce Media Solutions revenue surged 104% to $25.9 million, up from $12.7 million a year earlier, and accounted for 58% of consolidated revenue versus 23% in Q1 2025. The segment’s annual revenue run rate now exceeds $110 million, with a gross margin of 19% and media margin of 30%.
3. Strategic Shifts and Outlook
Fluent completed the January sale of its Call Solutions business to focus resources on Commerce Media Solutions. New partnerships launched in the quarter include Wyndham Hotels & Resorts and appointment-based platform Squire, and the company expects full-year double-digit revenue growth and adjusted EBITDA improvement in 2026.
