FLNT on Nasdaq
Fluent, Inc.
American advertising services company based in New York, active since 20082
In its 2026 annual report the company says: “Fluent, Inc. is a commerce media solutions provider connecting top-tier brands with highly engaged consumers. We primarily perform customer acquisition services by operating highly scalable digital marketing campaigns, through which we connect our advertiser clients with targeted consumers. We access these consumers through both our commerce media marketplace, which delivers targeted advertising within e-commerce and digital media transaction flows on partner sites and mobile apps, and our owned and operated digital media properties.”5 Its shares trade on Nasdaq under the symbol FLNT.2
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Last updated Oct 21, 2026.
Overview
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- TickerFLNT on Nasdaq2
- IndustryServices-Advertising2
- HeadquartersShanghai, China2
- Incorporated inDE3
- Business address300 Vesey Street, 9Th Floor, New York, Ny 102823
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI549300P3G8O165ICY4292
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
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This business description should be read in conjunction with our audited consolidated financial statements and accompanying notes thereto appearing elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), which are incorporated herein by this reference.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Owned And Operated brought in 45% of the revenue Fluent, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Owned And Operated | $168.4M | $94.5M |
| Commerce Media Solutions | $41.3M | $82.3M |
| Call Solutions | $31.1M | $24.8M |
| Ad Parlor | $9.9M | $7.2M |
| Product and Service, Other | $3.9M | $47.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development6¢$11.8M
- Other costs93¢$193.8M
- Interest1¢$3.1M
- Income tax0¢$2.0K
Out of $208.8M in revenue.6 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $208.8M | $254.6M |
| Cost of revenue (exclusive of depreciation and amortization) | $157.5M | $193.8M |
| Sales and marketing | $14.5M | $17.3M |
| Product development | $11.8M | $17.3M |
| General and administrative | $34.7M | $37.7M |
| Depreciation and amortization | $9.8M | $9.9M |
| Goodwill and intangible assets impairment | $774.0K | $2.2M |
| Total costs and expenses | $229.1M | $278.3M |
| Loss from operations | -$20.3M | -$23.7M |
| Interest expense, net | -$3.1M | -$4.7M |
| Fair value adjustment of Convertible Notes, with related parties | -$14.0K | -$1.7M |
| Loss on early extinguishment of debt | -$3.8M | -$1.0M |
| Loss before income taxes | -$27.2M | -$31.1M |
| Income tax benefit | $2.0K | $1.8M |
| Net loss | -$27.2M | -$29.3M |
| Basic (in dollars per share) | -$1.05 | -$1.80 |
| Diluted (in dollars per share) | -$1.05 | -$1.80 |
| Basic (in shares) | 26.0M shares | 16.3M shares |
| Diluted (in shares) | 26.0M shares | 16.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $12.9M | $9.4M | |
| Accounts receivable, net of allowance for credit losses of $163 and $487, respectively | $46.7M | $46.5M | |
| Prepaid expenses and other current assets | $7.8M | $8.7M | |
| Current restricted cash | $0 | $1.3M | |
| Total current assets | $67.5M | $66.0M | |
| Non-current restricted cash | $710.0K | $0 | |
| Property and equipment, net | $104.0K | $304.0K | |
| Operating lease right-of-use assets | $2.9M | $1.6M | |
| Intangible assets, net | $17.3M | $21.8M | |
| Other non-current assets | $715.0K | $4.0M | |
| Total assets | $89.1M | $93.6M | |
| Accounts payable | $7.2M | $8.8M | |
| Accrued expenses and other current liabilities | $25.2M | $21.9M | |
| Deferred revenue | $721.0K | $556.0K | $430.0K |
| Short-term debt, net | $30.8M | $31.6M | |
| Current portion of operating lease liability | $1.1M | $1.8M | |
| Total current liabilities | $65.0M | $64.7M | |
| Long-term debt, net | $0 | $250.0K | |
| Convertible Notes, at fair value with related parties | $3.7M | $3.7M | |
| Operating lease liability, net | $2.0M | $9.0K | |
| Other non-current liabilities | $168.0K | $1.0K | |
| Total liabilities | $70.9M | $68.7M | |
| Preferred stock $0.0001 par value, 10,000,000 Shares authorized; Shares outstanding 0 shares for both periods | $0 | $0 | |
| Common stock $0.0005 par value, 200,000,000 Shares authorized; Shares issued 30,404,779 and 20,791,431, respectively; and Shares outstanding 29,636,184 and 20,022,836, respectively | $53.0K | $47.0K | |
| Treasury stock, at cost 768,595 and 768,595 shares, respectively | -$11.4M | -$11.4M | |
| Additional paid-in capital | $467.5M | $447.1M | |
| Accumulated deficit | -$438.0M | -$410.8M | |
| Total shareholders equity | $18.2M | $25.0M | $34.4M |
| Total liabilities and shareholders' equity | $89.1M | $93.6M | |
| Accounts receivable, allowance for doubtful accounts | $163.0K | $487.0K | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Common stock, shares issued (in shares) | 30.4M shares | 20.8M shares | |
| Common stock, shares outstanding (in shares) | 29.6M shares | 20.0M shares | |
| Treasury stock, shares (in shares) | 768.6K shares | 768.6K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $12.9M | $9.4M | |
| Accounts receivable, net of allowance for credit losses of $163 and $487, respectively | $46.7M | $46.5M | |
| Prepaid expenses and other current assets | $7.8M | $8.7M | |
| Current restricted cash | $0 | $1.3M | |
| Total current assets | $67.5M | $66.0M | |
| Non-current restricted cash | $710.0K | $0 | |
| Property and equipment, net | $104.0K | $304.0K | |
| Operating lease right-of-use assets | $2.9M | $1.6M | |
| Intangible assets, net | $17.3M | $21.8M | |
| Other non-current assets | $715.0K | $4.0M | |
| Total assets | $89.1M | $93.6M | |
| Accounts payable | $7.2M | $8.8M | |
| Accrued expenses and other current liabilities | $25.2M | $21.9M | |
| Deferred revenue | $721.0K | $556.0K | $430.0K |
| Short-term debt, net | $30.8M | $31.6M | |
| Current portion of operating lease liability | $1.1M | $1.8M | |
| Total current liabilities | $65.0M | $64.7M | |
| Long-term debt, net | $0 | $250.0K | |
| Convertible Notes, at fair value with related parties | $3.7M | $3.7M | |
| Operating lease liability, net | $2.0M | $9.0K | |
| Other non-current liabilities | $168.0K | $1.0K | |
| Total liabilities | $70.9M | $68.7M | |
| Preferred stock $0.0001 par value, 10,000,000 Shares authorized; Shares outstanding 0 shares for both periods | $0 | $0 | |
| Common stock $0.0005 par value, 200,000,000 Shares authorized; Shares issued 30,404,779 and 20,791,431, respectively; and Shares outstanding 29,636,184 and 20,022,836, respectively | $53.0K | $47.0K | |
| Treasury stock, at cost 768,595 and 768,595 shares, respectively | -$11.4M | -$11.4M | |
| Additional paid-in capital | $467.5M | $447.1M | |
| Accumulated deficit | -$438.0M | -$410.8M | |
| Total shareholders equity | $18.2M | $25.0M | $34.4M |
| Total liabilities and shareholders' equity | $89.1M | $93.6M | |
| Accounts receivable, allowance for doubtful accounts | $163.0K | $487.0K | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 200.0M shares | 200.0M shares | |
| Common stock, shares issued (in shares) | 30.4M shares | 20.8M shares | |
| Common stock, shares outstanding (in shares) | 29.6M shares | 20.0M shares | |
| Treasury stock, shares (in shares) | 768.6K shares | 768.6K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$27.2M | -$29.3M |
| Depreciation and amortization | $9.8M | $9.9M |
| Non-cash loan amortization expense | $666.0K | $1.4M |
| Non-cash gain on contingent consideration | $0 | -$250.0K |
| Non-cash loss on early extinguishment of debt | $3.8M | $1.0M |
| Share-based compensation expense | $2.2M | $2.0M |
| Fair value adjustment of Convertible Notes, with related parties | $14.0K | $1.7M |
| Goodwill impairment | $0 | $1.3M |
| Impairment of intangible assets | $774.0K | $980.0K |
| Non-cash loss on asset write-off | $698.0K | $0 |
| Allowance for credit losses | $53.0K | $401.0K |
| Deferred income taxes | $140.0K | -$276.0K |
| Accounts receivable | -$256.0K | $9.5M |
| Prepaid expenses and other current assets | $3.1M | -$3.2M |
| Other non-current assets | $3.0M | -$51.0K |
| Operating lease assets and liabilities, net | -$47.0K | -$325.0K |
| Accounts payable | -$1.6M | -$2.2M |
| Accrued expenses and other current liabilities | $3.2M | -$5.9M |
| Deferred revenue | $165.0K | $313.0K |
| Other | -$1.0K | -$1.0M |
| Net cash used in operating activities | -$1.5M | -$14.1M |
| Capitalized costs included in intangible assets | -$6.3M | -$6.2M |
| Acquisition of property and equipment | -$69.0K | -$13.0K |
| Net cash used in investing activities | -$6.4M | -$6.2M |
| Proceeds from issuance of short and long term debt | $103.3M | $65.4M |
| Repayments of long-term debt | -$109.7M | -$68.2M |
| Debt financing costs | -$1.3M | -$1.9M |
| Proceeds from issuance of common stock and warrants | $19.4M | $12.6M |
| Proceeds from exercise of warrants | $0 | $2.0K |
| Proceeds from Convertible Notes, with related parties | $0 | $2.0M |
| Net cash provided by financing activities | $10.8M | $15.2M |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $3.0M | -$5.1M |
| Cash paid for interest | $2.6M | $3.6M |
| Cash refunded for income taxes, net | -$69.0K | -$323.0K |
| Share-based compensation capitalized in intangible assets | $37.0K | $48.0K |
| Long-term debt issuance | $0 | $2.0M |
| Consideration for True North | $0 | $989.0K |
No quarter-by-quarter statement was filed.
Corporate structure
Fluent, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Fluent, Inc.
- Bleichroeder LP Filed SCHEDULE 13G/A on Fluent, Inc., latest Aug 13, 2026 (2 filings since Nov 14, 2025)
- JB CAPITAL PARTNERS LP Filed SCHEDULE 13G/A on Fluent, Inc., latest Feb 9, 2026 (5 filings since Feb 10, 2022)
- Phillip Et Al Frost Md. Filed SCHEDULE 13D/A on Fluent, Inc., latest Jan 28, 2026 (7 filings since Sep 25, 2023)
- Tieton Capital Management, LLC Filed SCHEDULE 13G/A on Fluent, Inc., latest Nov 12, 2025 (3 filings since Jan 25, 2023)
- Matthew Conlin Filed SCHEDULE 13D/A on Fluent, Inc., latest Jun 20, 2025 (3 filings since May 16, 2024)
- Ryan Schulke Filed SCHEDULE 13D/A on Fluent, Inc., latest Jun 20, 2025 (4 filings since May 16, 2024)
- GLOBAL VALUE INVESTMENT CORP. Filed SCHEDULE 13D/A on Fluent, Inc., latest Jan 22, 2025 (5 filings since Nov 16, 2023)
- WELLINGTON TRUST Co N A Filed SC 13G/A on Fluent, Inc., latest Feb 8, 2024 (3 filings since Feb 4, 2022)
- Wellington Management Company Filed SC 13G/A on Fluent, Inc., latest Feb 8, 2024 (3 filings since Feb 4, 2022)
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio Filed SC 13G/A on Fluent, Inc., latest Feb 4, 2022
- Fluent, Inc. Shanghai, China
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Fluent, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $3.2M6 Dec 31, 2025 | $3.6M6 Dec 31, 2024 | −10.6% |
| Accumulated depreciation | $3.1M6 Dec 31, 2025 | $3.3M6 Dec 31, 2024 | −5.5% |
| Property and equipment, net | $104.0K6 Dec 31, 2025 | $304.0K6 Dec 31, 2024 | −65.8% |
| Operating-lease assets (leased space) | $2.9M6 Dec 31, 2025 | $1.6M6 Dec 31, 2024 | +82.1% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $06 Dec 31, 2025 | $06 Dec 31, 2024 | |
| Finite-lived intangibles, gross | $129.0M6 Dec 31, 2025 | $127.9M6 Dec 31, 2024 | +0.9% |
| Accumulated amortization | $111.7M6 Dec 31, 2025 | $106.1M6 Dec 31, 2024 | +5.3% |
| Finite-lived intangibles, net | $17.3M6 Dec 31, 2025 | $21.8M6 Dec 31, 2024 | −20.7% |
Properties, in its own words
Our headquarters are located at 300 Vesey Street, 9th Floor, New York, NY 10282, where we lease 17,928 square feet of office space, which is scheduled to terminate on April 14, 2029.
Our AdParlor business operates out of a shared co-working space located at 200 Bay Street, North Tower Suite 1200, Toronto, Ontario M5J 2J2, Canada under a 12-month lease, effective as of August 1, 2025.
The rest of Item 2
We believe our present facilities are suitable and adequate for our current operating needs.
Item 2 of the 10-K filed Mar 31, 2026.5
Leadership
Who has led Fluent, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerDonald Huntley Patrick Dec 3, 2021 to now14
- Chief executive officerRyan Schulke Mar 29, 2018 to Nov 12, 202115
- Chief executive officerDerek Dubner Mar 24, 2015 to Dec 15, 201716
- Chief executive officerWei Han Tan Mar 24, 2015 to Jul 30, 201517
- Chief executive officerPaul Matthew Conway Feb 3, 2010 to Mar 22, 201018
- ChairMichael Brauser Jul 22, 2015 to Nov 17, 201719
- PresidentMatthew Conlin Mar 29, 2018 to Dec 1, 202120
- PresidentGarbo Lee Nov 9, 2009 to Jan 13, 201021
- Chief financial officerSugandha Khandelwal Dec 8, 2021 to Dec 20, 202222
- Chief financial officerAlexander Mandel Feb 5, 2019 to Feb 3, 202123
- Chief financial officerRyan Macnab Perfit Mar 29, 2018 to Feb 5, 201924
- Chief financial officerDaniel Maclachlan Apr 4, 2016 to Dec 15, 201725
- Chief financial officerJinbo Wang Mar 24, 2015 to Mar 24, 201526
- Chief financial officerAaron Solomon Jul 9, 2015 to Mar 23, 201627
- Chief financial officerWilfred Chow Jan 6, 2010 to Jan 6, 201028
- Chief operating officerDonald Huntley Patrick Mar 29, 2018 to Jul 1, 202429
- Chief operating officerHarry Baker Jordan Iii. Aug 10, 2016 to Sep 11, 201730
- Chief operating officerJianhai Huang Nov 9, 2009 to Nov 9, 200931
Board members and other officers (27)
- Chief Customer OfficerMatthew Conlin Mar 15, 2022 to now32
- Chief Strategy OfficerRyan Schulke Mar 15, 2022 to now33
- Chief Information OfficerJeffrey Alan Dell Sep 21, 2016 to Feb 16, 201834
- Chief Accounting OfficerJinbo Wang Jul 30, 2015 to Mar 12, 201835
- Board memberJames Geygan Jan 31, 2025 to now36
- Board memberDavid Allen Graff Oct 12, 2022 to now37
- Board memberRichard C. Pfenniger Jr. Oct 12, 2022 to now38
- Board memberCarla Newell Oct 9, 2020 to Jun 14, 202339
- Board memberBarbara Z. Shattuck Dec 11, 2019 to now40
- Board memberMatthew Conlin Mar 29, 2018 to now20
- Board memberAndrew J. Frawley Apr 5, 2018 to Jun 22, 202041
- Board memberRyan Schulke Feb 24, 2016 to now42
- Board memberDaniel Brauser Mar 24, 2015 to Jun 3, 201543
- Board memberDerek Dubner Mar 24, 2015 to Dec 15, 201716
- Board memberWei Han Tan Mar 24, 2015 to Mar 24, 201517
- Board memberYunan Ren Mar 24, 2015 to Jun 3, 201544
- Board memberMichael Brauser Jun 8, 2015 to Feb 14, 201845
- Board memberPeter Benz Jun 8, 2015 to Dec 10, 201946
- Board memberRobert Swayman Jun 8, 2015 to Apr 17, 201747
- Board memberPhillip Et Al Frost Md. Dec 10, 2015 to Dec 11, 201748
- Board memberDonald H. Mathis Dec 21, 2015 to now49
- Board memberRobert N. Fried Nov 3, 2009 to Apr 17, 201750
- Board memberGlenn L. Halpryn Nov 4, 2009 to Jan 13, 201051
- Board memberEarl Ching-Hwa Yen Nov 9, 2009 to Jan 13, 201052
- Board memberJianzhong Qu Nov 9, 2009 to Jan 13, 201053
- Board memberLu Xiaoming Nov 9, 2009 to Jan 13, 201054
- Board memberQinying Liu Nov 9, 2009 to Nov 9, 200955
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorBarbara Kohn named May 30, 202456
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Fluent, LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Oct 5, 20268-K Entered a material agreement; New debt or obligation57
- Aug 10, 20268-K Results of operations58
- Jun 22, 20268-K Regulation FD disclosure59
- Jun 18, 20268-K Shareholder vote60
- May 13, 20268-K Results of operations61
- Mar 9, 20268-K Results of operations62
- Feb 5, 20268-K Entered a material agreement63
- Dec 31, 20258-K Entered a material agreement64
- Dec 2, 20258-K Entered a material agreement; Ended a material agreement; New debt or obligation65
- Nov 13, 20258-K Results of operations66
- Sep 24, 20258-K Executive or director change67
- Aug 19, 20258-K Entered a material agreement; Unregistered sale of shares; Other events68
- Dec 3, 2021New chief executive Donald Huntley Patrick becomes CEO14
- Mar 29, 2018New chief executive Ryan Schulke becomes CEO15
- Mar 24, 2015New chief executive Wei Han Tan becomes CEO17
- Mar 24, 2015New chief executive Derek Dubner becomes CEO16
- Feb 3, 2010New chief executive Paul Matthew Conway becomes CEO18
- Mar 13, 2008Founded Fluent, Inc. is founded2
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.25) a share, on Nov 13, 2025.69
When it reported results
- Aug 10, 2026Reported quarterly or annual results58
- May 13, 2026Reported quarterly or annual results61
- Mar 9, 2026Reported quarterly or annual results62
- Nov 13, 2025Reported quarterly or annual results66
- Aug 19, 2025Reported quarterly or annual results70
- May 15, 2025Reported quarterly or annual results71
- Feb 28, 2025Reported quarterly or annual results72
- Nov 19, 2024Reported quarterly or annual results73
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
334 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 59 major events, 175 insider forms, 36 large holders, 1 private raises, 41 other. The latest 20:
- Oct 5, 20268-K EDGAR
- Sep 16, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 14, 20264 EDGAR
- Sep 10, 2026144 EDGAR
- Sep 9, 20264 EDGAR
- Sep 1, 2026S-8 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 20268-K EDGAR
- Jun 26, 20264 EDGAR
- Jun 26, 20264 EDGAR
- Jun 25, 20264 EDGAR
- Jun 25, 20264 EDGAR
- Jun 25, 20264 EDGAR
- Jun 22, 20268-K EDGAR
- Jun 22, 20264 EDGAR
- Jun 22, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
The 334 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
113 open-market trades by officers, directors and large owners since October 2021: 91 buys and 22 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 14, 2026 | Rice Shawn G | Buy | 12,376 | $3.38 | $41.8K | Form 4 |
| Sep 14, 2026 | GEYGAN JAMESDirector | Buy | 12,376 | $3.38 | $41.8K | Form 4 |
| Sep 10, 2026 | Graff David AllenDirector | Sale | 25,000 | $3.00 | $75.0K | Form 4 |
| Sep 4, 2026 | Schulke RyanChief Strategy Officer | Buy | 2,823 | $3.08 | $8.7K | Form 4 |
| Sep 1, 2026 | Rice Shawn G | Sale | 148 | $3.23 | $478 | Form 4 |
| Sep 1, 2026 | GEYGAN JAMESDirector | Sale | 148 | $3.23 | $478 | Form 4 |
| Aug 28, 2026 | Rice Shawn G | Sale | 665 | $3.58 | $2.4K | Form 4 |
| Aug 28, 2026 | GEYGAN JAMESDirector | Sale | 665 | $3.58 | $2.4K | Form 4 |
| Aug 25, 2026 | Rice Shawn G | Sale | 2 | $4.15 | $8 | Form 4 |
| Aug 25, 2026 | GEYGAN JAMESDirector | Sale | 2 | $4.15 | $8 | Form 4 |
| Aug 17, 2026 | Rice Shawn G | Sale | 500 | $4.05 | $2.0K | Form 4 |
| Aug 17, 2026 | GEYGAN JAMESDirector | Sale | 500 | $4.05 | $2.0K | Form 4 |
| Aug 14, 2026 | Rice Shawn G | Sale | 600 | $4.15 | $2.5K | Form 4 |
| Aug 14, 2026 | GEYGAN JAMESDirector | Sale | 600 | $4.15 | $2.5K | Form 4 |
| Jun 12, 2026 | GEYGAN JAMESDirector | Buy | 61,368 | $2.75 | $168.8K | Form 4 |
| Jun 12, 2026 | Geygan Kathleen | Buy | 61,368 | $2.75 | $168.8K | Form 4 |
| Jun 1, 2026 | Conlin MatthewChief Customer Officer | Buy | 5,000 | $2.07 | $10.3K | Form 4 |
| Jun 1, 2026 | Schulke RyanChief Strategy Officer | Buy | 5,000 | $2.07 | $10.3K | Form 4 |
| May 26, 2026 | Patrick Donald HuntleyChief Executive Officer | Sale | 286 | $2.49 | $712 | Form 4 |
| May 26, 2026 | Perfit Ryan MacNabChief Financial Officer | Sale | 9,604 | $2.59 | $24.9K | Form 4 |
All 113 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Bleichroeder LPSCHEDULE 13G/A, 2 filings Nov 14, 2025 to Aug 13, 202674
- JB CAPITAL PARTNERS LPSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Feb 9, 202675
- Phillip Et Al Frost Md.SCHEDULE 13D/A, 7 filings Sep 25, 2023 to Jan 28, 202676
- Tieton Capital Management, LLCSCHEDULE 13G/A, 3 filings Jan 25, 2023 to Nov 12, 202577
- Matthew ConlinSCHEDULE 13D/A, 3 filings May 16, 2024 to Jun 20, 202578
- Ryan SchulkeSCHEDULE 13D/A, 4 filings May 16, 2024 to Jun 20, 202579
- GLOBAL VALUE INVESTMENT CORP.SCHEDULE 13D/A, 5 filings Nov 16, 2023 to Jan 22, 202580
- WELLINGTON TRUST Co N ASC 13G/A, 3 filings Feb 4, 2022 to Feb 8, 202481
- Wellington Management CompanySC 13G/A, 3 filings Feb 4, 2022 to Feb 8, 202482
- Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity PortfolioSC 13G/A, 1 filing Feb 4, 202283
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $10.0M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2024 | $10.0M | $10.0M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 27. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Fluent, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFluent, Inc.1
- CIK0001460329
- Employer ID (EIN)77-06880945
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)7310 Services-Advertising1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address300 Vesey Street, 9Th Floor, New York, NY 102821
- Phone64666972721
- Shares outstanding31,607,086 as of Aug 10, 202613
- Public float$11.2M as of Jun 30, 20255
- AuditorGRANT THORNTON LLP, New York, New York PCAOB ID 248; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceMar 31, 20091
- Filings1,069 in all: 4 (412), 8-K (171), 6-K (74), 3 (43), SC 13D/A (38), 4/A (37), 10-Q (36), SC 13G/A (36)1
All 49 form types
UPLOAD (23), CORRESP (21), SC 13G (16), DEF 14A (15), 10-K (13), 424B3 (12), S-8 (10), EFFECT (9), 425 (8), NT 10-Q (8), 424B5 (7), S-3 (7), SCHEDULE 13D/A (7), D (6), SC 13D (6), 8-K/A (5), 20-F (4), ARS (4), NT 10-K (4), PRE 14A (4), S-4/A (4), SCHEDULE 13G/A (4), 10-K/A (2), 10-Q/A (2), 20-F/A (2), DEF 14C (2), DEFA14A (2), PRE 14C (2), 144 (1), 25 (1), 25-NSE (1), 3/A (1), 5 (1), 8-A12B (1), CERTNAS (1), CT ORDER (1), F-3 (1), NT 20-F (1), S-3/A (1), S-4 (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) May 7, 2026
Latest 8-K (8-K) Oct 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0005 par value per share | FLNT | Nasdaq |
From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Fluent, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 34 risks under these headings, as written.5
- Risks Relating to Our Business
- Risks Related to Our Financial Position
- There is substantial doubt about our ability to continue as a going concern.
- Risks Related to Our Industry
- We operate in a competitive, rapidly changing industry, which makes it difficult to evaluate our business and prospects.
- A material percentage of our consolidated revenue is derived from gaming (apps) advertisers, so we are exposed to risks associated with the gaming industry in general.
- Unfavorable publicity and negative public perception about our industry or us may damage our reputation, which could harm our business, financial condition, and results of operations.
- A sudden reduction in online marketing spend by our clients, a loss of clients or lower advertising yields may seriously harm our business.
- We are exposed to credit risk from our clients, and we may not be able to collect on amounts owed to us.
- Risks Related to Our Commerce Media Solutions
- We operate in the commerce media segment of the digital advertising ecosystem, which is highly competitive and dominated by larger, well-capitalized competitors with existing advertiser and media partner relationships.
- We will need to continue to invest in technology for our Commerce Media Solutions business.
The other 26 risks
- Risks Related to Our Owned and Operated Media Properties
- We are at a competitive disadvantage to other rewards sites because we are more selective in our traffic sources.
- A decline in the supply of media available to us through third parties or an increase in the price of this media would increase the cost of attracting consumers and reduce our profitability.
- A substantial majority of users access our media through mobile devices and tablets, and our business is therefore highly dependent on mobile platforms and operating system providers.
- Our use of CRM may be hindered, which in turn could harm our business.
- Other Business Risks
- It may be difficult to effectively manage any future growth and scale our infrastructure and products quickly enough to meet the needs of our business while maintaining profitability.
- Economic or political instability could adversely affect our business, financial condition, and results of operations.
- Our international operations subject us to increased challenges and risks.
- Our evaluation of strategic alternatives could complicate operations, or could result in other harmful consequences that may adversely impact our business and results of operations.
- Our failure to recruit or the loss of management and highly trained and qualified personnel could adversely affect our business.
- We are dependent upon third-party service providers in our operations and may be adversely affected if any of their platforms malfunction.
- Risks Relating to Legal and Regulatory Matters
- The regulatory landscape in which we and our clients operate is constantly evolving and subject to significant change.
- Our use of email marketing and other direct marketing channels is subject to laws and rules in each of the jurisdictions in which we operate.
- The outcome of litigation, inquiries, investigations, examinations, or other legal proceedings in which we are or may become involved, or in which our clients or competitors are involved, could distract management, increase our expenses, or subject us to significant monetary damages or restrictions on our ability to do business.
- Our business and the businesses of our advertiser clients may be subject to sales and use taxes and other taxes.
- Risks Relating to Data Security and Intellectual Property
- Our actual or perceived failure to safeguard any personal information or user privacy could damage our reputation and results of operations.
- If we do not adequately protect our intellectual property rights, our competitive position and business may suffer.
- As a creator and a distributor of digital media content, we face liability and expenses for legal claims based on the nature and content of the materials that we create or distribute, including materials provided by third parties.
- Laws and regulations regarding privacy, data protection, and the handling of personal information are complex and continuously evolving, and could have a material adverse effect on our business, financial condition, and results of operations.
- Risks Related to Financial Matters
- We may require additional capital in the future to pursue our business objectives and respond to business opportunities, challenges, or unforeseen circumstances, and such capital may not be available to us on acceptable terms, or at all.
- We may, in the future, experience significant charges to our intangible assets, which may affect our results of operations in the future.
- Risks Related to Our Common Stock and the Securities Markets
- We are currently listed on The Nasdaq Capital Market (“Nasdaq”). If we are unable to maintain listing of our securities on Nasdaq or any stock exchange, our stock price could be adversely affected and the liquidity of our stock and our ability to obtain financing could be impaired and it may be more difficult for our stockholders to sell their securities.
- Our stock price has been and may be volatile in the future, and as a result, investors in our securities could incur substantial losses.
- The concentration of our stock ownership presents risks, including lack of liquidity in the trading market for our common stock and limitations on any individual stockholder's ability to influence corporate matters.
- Future issuances of shares of our common stock could have a dilutive effect on your investment in us.
- We do not intend to pay cash dividends for the foreseeable future.
- We are a smaller reporting company and a non-accelerated filer, and we benefit from certain reduced governance and disclosure requirements, but we cannot be certain if the reduced disclosure requirements make our common stock less attractive to investors.
Legal proceedings
Other than as disclosed below under "Certain Legal Matters," the Company is not currently a party to any legal proceeding, investigation or claim which, in the opinion of management, is likely to have a material adverse effect on our business, financial condition, results of operations or cash flows. Legal fees associated with such legal proceedings are expensed as incurred. We review legal proceedings and claims on an ongoing basis and follow appropriate accounting guidance, including the Financial Accounting Standards Board ("FASB") Accounting Standards Codification 450 ("ASC 450"), Contingencies, when making accrual and disclosure decisions. We establish accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and we disclose the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for our financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, we evaluate, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of such loss. We do not accrue liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Legal proceedings and other contingencies for which no accrual has been established are disclosed to the extent required by ASC 450.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARFluent, Inc. filings on SEC EDGAR
- 2
- 3SEC EDGARFluent, Inc. filings on SEC EDGAR
- 4
- 5
- 6SEC EDGARFluent, Inc. 10-K for fiscal 2025
- 7SEC EDGARFluent, Inc. 10-K for fiscal 2019
- 8SEC EDGARFluent, Inc. 10-K for fiscal 2020
- 9SEC EDGARFluent, Inc. 10-K for fiscal 2021
- 10SEC EDGARFluent, Inc. 10-K for fiscal 2022
- 11SEC EDGARFluent, Inc. 10-K for fiscal 2023
- 12SEC EDGARFluent, Inc. 10-Q for fiscal 2026
- 13SEC EDGARFluent, Inc. 10-Q for fiscal 2026
- 14
- 15
- 16
- 17SEC EDGARWei Han Tan, Chief executive officer
- 18
- 19SEC EDGARMichael Brauser, Chair
- 20SEC EDGARMatthew Conlin, President
- 21SEC EDGARGarbo Lee, President
- 22
- 23
- 24
- 25
- 26SEC EDGARJinbo Wang, Chief financial officer
- 27
- 28
- 29
- 30
- 31
- 32
- 33SEC EDGARRyan Schulke, Chief Strategy Officer
- 34
- 35SEC EDGARJinbo Wang, Chief Accounting Officer
- 36SEC EDGARJames Geygan, Board member
- 37SEC EDGARDavid Allen Graff, Board member
- 38
- 39SEC EDGARCarla Newell, Board member
- 40SEC EDGARBarbara Z. Shattuck, Board member
- 41SEC EDGARAndrew J. Frawley, Board member
- 42SEC EDGARRyan Schulke, Board member
- 43SEC EDGARDaniel Brauser, Board member
- 44SEC EDGARYunan Ren, Board member
- 45SEC EDGARMichael Brauser, Board member
- 46SEC EDGARPeter Benz, Board member
- 47SEC EDGARRobert Swayman, Board member
- 48
- 49SEC EDGARDonald H. Mathis, Board member
- 50SEC EDGARRobert N. Fried, Board member
- 51SEC EDGARGlenn L. Halpryn, Board member
- 52SEC EDGAREarl Ching-Hwa Yen, Board member
- 53SEC EDGARJianzhong Qu, Board member
- 54SEC EDGARLu Xiaoming, Board member
- 55SEC EDGARQinying Liu, Board member
- 56
- 57
- 58SEC EDGARResults of operations
- 59SEC EDGARRegulation FD disclosure
- 60SEC EDGARShareholder vote
- 61SEC EDGARResults of operations
- 62SEC EDGARResults of operations
- 63SEC EDGAREntered a material agreement
- 64SEC EDGAREntered a material agreement
- 65
- 66SEC EDGARResults of operations
- 67SEC EDGARExecutive or director change
- 68
- 69NasdaqNasdaq calendar
- 70
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