One-glance verdict
$12.13 our estimate vs market $2.85
Wall Street consensus: $5.00 (-58.8% lower than our fair-value estimate)
76% below our estimate, below the bear case
Fundamentals snapshot
FLNT · NCM · Communication Services · Advertising Agencies
Current price
$2.85
52-week range
$1.70 - $4.49
Market cap
$90.24M
One-glance verdict
Wall Street consensus: $5.00 (-58.8% lower than our fair-value estimate)
76% below our estimate, below the bear case
Balance sheet
Net debt $27.72M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Fluent, Inc. helps companies find new customers online by running digital advertising campaigns for them, and the money primarily comes from these advertising services. This matters because it shows how Fluent helps businesses grow and how it makes its money.
"How the company got here" "Fluent, Inc. was founded in 2010 with a vision to connect brands with consumers through digital marketing. The company initially focused on building its foundation and scaling its operations, eventually going public in 2018 and expanding internationally. A key turning point came when Fluent pivoted its strategy to focus more intently on "commerce media solutions," which involves embedding advertising within the online purchasing journey. This strategic shift aimed to prioritize quality over quantity, building direct relationships between brands and consumers based on consent and first-party data (information collected directly from customers). The company has since focused on leading the market in this specialized area of advertising." "What it actually does" "Fluent, Inc. operates as a digital marketing company that specializes in connecting businesses, known as advertisers, with potential customers. They achieve this by running digital marketing campaigns designed to acquire new customers for their clients. This involves using various methods to reach consumers, such as through performance campaigns that might offer a trial subscription or require a registration form, or by directly providing consumer data. Fluent also offers services like programmatic data offerings, a marketplace for call solutions, and social media campaigns." "Commerce Media Solutions" "This is Fluent's primary business line, where they focus on integrating advertisements into the online shopping experience, particularly around the point of purchase. Think of it like this: after you've decided to buy something online and are about to complete your transaction, Fluent's technology might show you an advertisement for a related product or a special offer. They work with retailers and brands to place these ads, aiming to connect advertisers with consumers who are showing a strong interest in making a purchase (high-intent consumers). This segment has been a major growth area for Fluent, with significant revenue contributions." "AdParlor" "AdParlor is a part of Fluent that focuses on social media marketing. It acts as a managed service, meaning Fluent handles the process for clients, helping them with media buying (purchasing ad space on social platforms) and creator marketing (collaborating with social media influencers). This allows brands to reach consumers through various social media channels, leveraging Fluent's expertise in navigating these platforms for advertising purposes." "Call Solutions" "Fluent previously offered a 'Call Solutions' business, which operated a marketplace for performance-based campaigns delivered through phone calls. This meant clients could run advertising campaigns where the desired outcome was a phone call from a potential customer. However, Fluent sold this business segment in early 2026 as part of its strategic shift." "What management is betting on now" "Fluent's management is currently focused on scaling its Commerce Media Solutions business, seeing it as the main engine for future growth. They are actively expanding this segment into new areas beyond traditional retail, such as travel and services, to reach consumers at different high-intent moments. The company is also working to improve its financial health, aiming for profitability and managing its debt. This strategic direction involves leveraging their expertise in data and technology to create more valuable advertising opportunities for brands while ensuring a positive experience for consumers."
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
Wall Street consensus is the average analyst price target: $5.00 (-58.8% lower than our fair-value estimate).
Our most-likely fair value is $12.13 a share — about 324.8% above today's price of $2.85, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Net debt $27.7M. Interest coverage -5.5x.
Fluent, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Total debt $34.60M Interest coverage -5.51x This is the baseline the peer rows are being compared against.
Total debt $22.09M Interest coverage -20.30x Neither company has much profit cushion over interest right now.
Total debt $131.66M Interest coverage -3.47x Neither company has much profit cushion over interest right now.
Total debt $21.90M Interest coverage -23.17x Neither company has much profit cushion over interest right now.
Total debt $1.54B Interest coverage 0.12x This peer still has a real interest-payment cushion, while FLNT does not.
Total debt $189.89M Interest coverage -4.30x Neither company has much profit cushion over interest right now.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
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Metric explainer
Debt comparison
What you should know