Fluent Earnings Call Transcripts
Fiscal Year 2026
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Commerce Media Solutions drove 104% year-over-year revenue growth and now accounts for 58% of total revenue, offsetting declines in Owned and Operated. The company expects double-digit revenue growth and margin expansion for 2026, with the strongest quarters ahead.
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Commerce media now drives over half of revenue, growing at nearly triple digits and expected to sustain high double-digit growth into 2026. Expansion into new verticals and AI-driven targeting underpin a strong competitive position and margin improvement outlook.
Fiscal Year 2025
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Commerce Media Solutions drove a transformative shift in 2025, now comprising over half of revenue and delivering 99% year-over-year growth. The outlook for 2026 is strong double-digit growth, with continued investment in AI, new partnerships, and improved profitability expected.
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Commerce Media Solutions revenue surged 81% year-over-year, now comprising 40% of total revenue, while O&O declined 52%. Positive adjusted EBITDA is expected in Q4 2025, with double-digit consolidated revenue growth and full-year profitability projected for 2026.
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Q2 2025 saw revenue decline 24% year-over-year as the business pivots to Commerce Media Solutions, which grew 121% and now makes up 36% of revenue. Adjusted EBITDA loss narrowed, and new financing plus strategic partnerships are expected to drive profitability and growth in 2026.
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A strategic pivot to Commerce Media has driven rapid growth, with a $65M run rate and plans to double revenue in 2025 and 2026. Proprietary data and AI deliver superior results, while new partnerships expand market reach. Financial inflection is expected in late 2024.
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Commerce media solutions drove 99% revenue growth and now comprise 23% of total revenue, offsetting declines in owned and operated business. The new Rebuy Engine partnership expands access to Shopify merchants, with triple-digit commerce media growth expected in the year's second half.
Fiscal Year 2024
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Commerce Media Solutions drove 139% Q4 and 284% full-year revenue growth, now comprising 26% of total revenue. Despite a Q4 net loss and margin pressures from media costs and a $2.5M write-down, management expects double-digit consolidated growth in 2025, led by continued triple-digit gains in Commerce Media Solutions.
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Commerce Media Solutions drove triple-digit revenue growth and higher margins, offsetting declines in Owned and Operated Marketplaces impacted by election-driven media costs. Expect double-digit consolidated revenue growth in 2025, led by continued expansion in Commerce Media.
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Q2 2024 saw revenue and margin declines due to ACA write-downs and regulatory headwinds, but stabilization in core business and strong growth in performance marketplaces set the stage for a return to year-over-year growth in Q3 and double-digit gains in Q4 and 2025. Performance marketplace and AdFlow expansion into new verticals are expected to drive improved margins and reduced seasonality.