Fluent reports Q1 EPS (30c), consensus (9c)

Reports Q1 revenue $65.98M, consensus $66.43M. Don Patrick, Fluent’s Chief Executive Officer, commented, “For the quarter, we reported improved gross margins over last year with positive adjusted EBITDA as we continued to deliver both leading and emerging brands a broader suite of customer acquisition and partner monetization solutions. Our new syndicated performance marketplaces – a key strategic focus of ours – continue to be well received in the market and contributed positively to our gross margin performance in the quarter. As expected, our owned and operated markets are seeing softness in the first half of this year due to a challenging macroeconomic environment and media supply challenges partly stemming from changes in compliance practices in connection with our FTC consent order, which influenced reductions in spend by key clients in various sectors. We remain optimistic that this part of the business will stabilize in the back half of the year as we continue to set the standard for industry compliance on behalf of our clients.”