Fluent, Inc. filed its quarterly report on Form 10-Q with the SEC on November 12, 2026, covering the three and nine months ended September 30, 2026, disclosing continued operating losses alongside a year-over-year improvement in quarterly revenue.

Key Highlights

  • Quarterly revenue of $53,642 thousand for the three months ended September 30, 2026, up from $47,029 thousand in the same period of 2025, according to the filing.
  • Net loss of $14,656 thousand for the nine months ended September 30, 2026, compared with a net loss of $23,048 thousand in the same period of 2025.
  • Accumulated deficit of $452,618 thousand as of September 30, 2026, up from $437,962 thousand at December 31, 2025.
  • Total shareholders' equity declined to $5,578 thousand as of September 30, 2026, from $18,212 thousand at December 31, 2025.
  • 31,712,435 shares of common stock outstanding as of November 10, 2026, the registrant reported.
  • Short-term debt, net, of $31,451 thousand was carried on the balance sheet as of September 30, 2026, alongside Convertible Notes at fair value with related parties of $4,443 thousand.

Fluent's Third-Quarter 2026 Financial Results: Revenue Gains Offset by Ongoing Losses

Fluent, Inc. (NASDAQ:FLNT), a performance marketing company headquartered at 300 Vesey Street, 9th Floor, New York, New York, reported quarterly revenue of $53,642 thousand for the three months ended September 30, 2026, an increase from $47,029 thousand in the third quarter of 2025, according to the filing. For the nine-month period, however, revenue was essentially flat at $146,943 thousand compared with $146,945 thousand in the same period of 2025. The company operates as a smaller reporting company and non-accelerated filer, as indicated on the cover page.

The company reported a loss from operations of $3,119 thousand for the third quarter of 2026, an improvement from an operating loss of $6,303 thousand in the third quarter of 2025. For the nine months ended September 30, 2026, the operating loss was $11,979 thousand, compared with $20,485 thousand in the year-ago period. Total costs and expenses for the third quarter of 2026 were $56,761 thousand, with cost of revenue accounting for $38,359 thousand of that total. General and administrative expenses for the nine months ended September 30, 2026 included $218 thousand paid to a related party, as the filing disclosed.

On the balance sheet, total assets stood at $81,369 thousand as of September 30, 2026, down from $89,133 thousand at December 31, 2025. Cash and cash equivalents were $11,436 thousand at quarter-end, compared with $12,935 thousand at year-end 2025. During the nine months ended September 30, 2026, 1,444,129 shares were issued through the exercise of pre-funded warrants, and share-based compensation expense totaled $2,022 thousand, the filing stated. Basic loss per share for the nine-month period was $(0.47), compared with $(0.94) in the same period of 2025.

What Was Disclosed

Fluent, Inc. disclosed its unaudited consolidated financial statements for the quarter and nine months ended September 30, 2026, reporting improved quarterly revenue and reduced losses year-over-year, alongside a declining shareholders' equity position and an accumulated deficit of $452,618 thousand.