SpendscapeCompanies · performance marketing
Fluent
Sell sideFLNT
Fluent brought in $210M of revenue in fiscal 2025, growing -8% a year over five years at a -10% operating margin.
$210Mrevenue, FY2025
-8%growth a year, 5 years
-10%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Years where the filing's revenue line isn't comparable are left out of the line.
What they told investors
“In the second half of 2026, we are committed to testing and learning, proving at the consumer experience, the measurement, and the advertiser return on ad spend.”Donald Patrick · 2026 Q2 · transcript
“So companies that have -- partners that have left our competitors that have come to us, we've been able to do head-to-head tests, and we've been able to prove not only do we provide superior revenue to the media partners we're working with, but we'll drive better quality…”management · 2026 Q1 · transcript
“We expect commerce media to become the majority of our revenue as we move into 2026.”Don Patrick · 2025 Q2 · transcript
“Commerce media is projected to grow over $100 billion over the next five years and is expected to account for 25% of all digital media spend in 2026.”Don Patrick · 2025 Q2 · transcript
“We added 15 new partners to our commerce media platform since the beginning of Q2.”Don Patrick · 2025 Q2 · transcript