Revenue: As of FY2026 Q1, the actual value is USD 44.85 M, missing the estimate of USD 45.92 M.EPS: As of FY2026 Q1, the actual value is USD -0.17, beating the estimate of USD -0.2367.EBIT: As of FY2026 Q1, the actual value is USD -4.746 M.<h4>Net Loss</h4>Fluent, Inc. reported a net loss of - $5.4 million for Q1 2026, or - $0.17 per share, an improvement from the net loss of - $8.3 million, or - $0.39 per share, in Q1 2025.<h4>Segment Revenue</h4>Commerce Media Solutions revenue increased by 104% to $25.9 million in Q1 2026, up from $12.7 million in Q1 2025, and represented 58% of consolidated revenue, compared to 23% in Q1 2025. Owned and Operated revenue decreased by 50% to $15.7 million in Q1 2026, down from $31.1 million in Q1 2025. The company’s aggregate continuing business revenue declined approximately 3% year over year.<h4>Operational Metrics</h4>Gross profit (exclusive of depreciation and amortization) was $10.0 million in Q1 2026, a 12% decrease compared to Q1 2025, representing 22% of revenue. For Commerce Media Solutions, gross profit (exclusive of depreciation and amortization) was $5.0 million, a 78% increase over Q1 2025, and represented 19% of its revenue for Q1 2026.Media margin for the consolidated company was $14.0 million, a 2% increase compared to Q1 2025, representing 31% of revenue. Commerce Media Solutions reported a media margin of $7.7 million, a 149% increase over Q1 2025, and represented 30% of its revenue for Q1 2026.Adjusted EBITDA loss was - $3.6 million in Q1 2026, compared to - $3.1 million for Q1 2025, representing 8% of revenue. Adjusted net loss was - $5.9 million, or - $0.19 per share, compared to - $6.7 million, or - $0.31 per share, for Q1 2025.<h4>Cash Flow</h4>Net cash provided by operating activities was $5,112 thousand in Q1 2026, compared to $2,112 thousand in Q1 2025. Net cash used in investing activities was - $1,481 thousand in Q1 2026, compared to - $1,570 thousand in Q1 2025. Net cash used in financing activities was - $6,267 thousand in Q1 2026, compared to - $5,153 thousand in Q1 2025. The net decrease in cash, cash equivalents, and restricted cash was - $2,636 thousand for Q1 2026, compared to - $4,611 thousand for Q1 2025. Cash, cash equivalents, and restricted cash at the end of Q1 2026 totaled $11,009 thousand, compared to $6,083 thousand at the end of Q1 2025.<h4>Unique Metrics</h4>The Commerce Media Solutions annual revenue run rate now exceeds $110 million, with a gross margin of 19%.<h4>Outlook</h4>Fluent, Inc. expects full-year double-digit consolidated growth in revenue on aggregate continuing businesses and improved full-year adjusted EBITDA for 2026. The company aims to continue scaling Commerce Media Solutions as a percentage of total consolidated revenue and return its gross margins to the mid-twenties. Fluent, Inc. also plans to enhance its Commerce Media Solutions partnership network by adding top-tier media partners and expanding into new verticals, including appointment-based platforms, travel, lifestyle, and home services.

Fluent | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 44.85 M