Fluent Announces Second Quarter 2024 Financial Results
Financial Performance Overview: Fluent, Inc. reported a revenue of $58.7 million for Q2 2024, down 29% from the previous year, with a net loss of $11.6 million and adjusted EBITDA of negative $4.5 million. For the first half of 2024, revenue was $124.7 million, a decrease of 22%, with a net loss of $17.9 million.
Strategic Outlook: CEO Don Patrick expressed optimism for the second half of 2024, highlighting stabilization in owned marketplaces and growth in new syndicated performance marketplaces, which are expected to enhance profitability and stakeholder value despite ongoing regulatory challenges.
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Flint Begins Production of Paper Batteries in Singapore, Advancing Sustainable Energy
- Production Launch: Flint's new facility in Singapore has officially commenced production of paper batteries, marking a transition from lab development to actual manufacturing, which is expected to drive rapid growth in the sustainable battery market.
- Safe Manufacturing: The new production line utilizes water-based manufacturing methods, reducing reliance on traditional battery materials like lithium and nickel, thereby enhancing production safety and improving battery lifecycle management.
- Commercial Partnerships: Flint is piloting its technology with global brands such as Logitech and Amazon, further validating market demand for its technology, which is expected to accelerate commercialization and enhance brand visibility.
- Funding Support: The company successfully raised $2 million in a pre-Series A round in 2025, strengthening the sustainability of its asset-light growth model and providing funding for future expansion and R&D.
Canaccord Genuity Keeps Hold Rating on Fluent, Reduces Price Target to $2.50
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