Fluent (FLNT)
Connects advertisers with consumers through commerce media and owned digital properties.
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Provides performance-based customer acquisition through Commerce Media Solutions and owned-and-operated digital media properties. Advertising inventory, first-party data, and proprietary machine learning connect advertisers with consumers.
Runs customer-acquisition services through Commerce Media Solutions and owned-and-operated digital media properties. Advertising inventory, first-party data, and proprietary machine learning connect advertisers with consumers through its owned-and-operated properties and Commerce Media Solutions marketplace.
Commerce Media Solutions is a newer, evolving part of the business, extending the marketplace beyond owned properties. It reflects a repositioning from the legacy performance-marketing model and is described as a core growth engine.
Serves consumer brands, direct marketers, and agencies with performance-marketing and customer-acquisition services. Retaining and onboarding media partners, favorable economics under long-term agreements, and advertiser demand shape the newer marketplace.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 11, 2026 | Lake Street | Reiterate | Rating: —Target: $5 | Target: $5.50 |
| Aug 11, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $3.50 | Target: $4.50 |
| Apr 23, 2026 | Lake Street | Target | Target: — | Target: $5 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $6.9M · Total debt $34.6M · Total assets $75.1M · Shareholders' equity $8.1M
- Revenue
- $48.4M
- Operating income
- −$5.0M
- Net income
- −$6.2M
No dividends on record.
| Institutions | 19.12% | 5.70M shares | |
|---|---|---|---|
| 28 holders · as of Jun 30, 2026 | |||
| Insiders | 69.30% | 20.66M shares | |
| 10 holders · as of Sep 16, 2026 | |||
| Strategic holders | 10.86% | 3.24M shares | |
| 1 holder · as of Sep 16, 2026 | |||
| Other | 0.72% | 212.8K shares | |
| remainder | |||
29.82M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Ryan Schulke1,2Insiderdirector, 10 percent owner, officer: Chief Strategy Officer | 24.99% | 4.93M | filed Sep 9, 2026 |
Phillip Md Et Al FrostInsider10 percent owner | 21.19% | 6.32M | filed Sep 12, 2025 |
Matthew Conlin3,4Insiderdirector, 10 percent owner, officer: Chief Customer Officer | 18.71% | 3.80M | filed Jun 25, 2026 |
Global Value Investment Corp.Strategic10 percent owner | 10.86% | 3.24M | filed Sep 16, 2026 |
JB Capital Partners, L.P.Institution | 7.28% | 2.17M | filed Feb 9, 2026 |
- Ryan Schulke's transaction reports restate only vehicles that traded; the 2025 ownership statement (4.93M) plus the 2.52M net shares acquired since is used instead.
- Ryan Schulke reports a block also reported by another filer; it is counted once, under that filer.
- Matthew Conlin's transaction reports restate only vehicles that traded; the 2025 ownership statement (3.80M) plus the 1.78M net shares acquired since is used instead.
- Matthew Conlin reports a block also reported by Global Value Investment Corp.; it is counted once, under Global Value Investment Corp.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | James Geygan | director, 10 percent owner: | +12,376 | $3.38 |
| Sep 1, 2026 | James Geygan | director, 10 percent owner: | −148 | $3.23 |
| Aug 28, 2026 | James Geygan | director, 10 percent owner: | −665 | $3.58 |
| Aug 25, 2026 | James Geygan | director, 10 percent owner: | −2 | $4.15 |
| Aug 17, 2026 | James Geygan | director, 10 percent owner: | −500 | $4.05 |
- Criteo
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- Taboola
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- MediaAlpha
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- QuinStreet
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- Zeta Global
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Fluent | $3.50 | 0.00% | $104.4M | — | — | 0.5 | +8.4% |
| Criteo | $16.75 | −0.30% | $844.1M | 8.5 | 4.6 | 0.5 | −47.1% |
| Taboola | $3.56 | −1.52% | $989.4M | 9.2 | 8.8 | 0.5 | +2.4% |
| MediaAlpha | $10.10 | −6.44% | $571.6M | 6.7 | 9.2 | 0.5 | +25.9% |
| QuinStreet | $15.51 | −10.17% | $991.5M | 12.4 | 9.8 | 0.8 | +42.7% |
| Zeta Global | $30.12 | −3.31% | $7.79B | — | 27.5 | 5.0 | +43.6% |
| Median | 8.9 | 9.2 | 0.5 | +25.9% |