The following is a summary of the Fluent, Inc. (FLNT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Fluent reported a Q1 revenue of $66 million, a decrease of 14.6% compared to Q1 2023, primarily due to the impact of the FTC settlement.

• The media margin increased by 1% year-over-year to $22.1 million.

• Adjusted EBITDA was $0.7 million, representing 1.1% of revenue.

• There was a significant impact on the overall market share due to compliance issues with FTC guidelines in the owned and operated marketplaces.

• Fluent reported a pre-tax loss but still paid an income tax of $900,000 due to various factors including impairment of goodwill and tax credits from research and development.

• The company experienced a restructuring and severance expense of $665,000 in the quarter.

Business Progress:

• Fluent has been making progress in its transition to new performance marketplaces, adjusting post-FTC settlement.

• It launched 'ad flow', a media solution targeting the rapidly growing commerce media market, and expanded into the health vertical, focusing on the Affordable Care Act market.

• Emphasizing growth of its performance marketplaces, Fluent expects these businesses to scale and contribute to the bottom line.

• It aims to grow its revenue from emerging businesses by over 50% in 2024, intending to return to consolidated growth in the second half of the year.

• There are major expected shifts in metrics due to the transition towards new performance marketplaces, and these new initiatives have shown signs of success, with brands showing engagement and an inclination to increase their business with Fluent.

• Fluent sold pre-funded warrants to five individuals, securing an equity investment of $10 million.

More details: Fluent IR

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