Filing Flows › Fluent (FLNT) › Q1 2026 › vs Q4 2025
Fluent (FLNT) Q1 2026 vs Q4 2025 (quarter over quarter)
Fluent's revenue fell $17.0M (-27%) from $61.8M in Q4 2025 to $44.9M in Q1 2026. The biggest changes: Commerce Media Solutions −$8.9M (-26%); Owned and Operated −$5.5M (-26%); Call Solutions −$2.6M (-68%).
Fluent, Q1 2026: revenue $44.9M (-19% year over year), operating margin -8.7%, net loss $5.4M, operating cash flow $5.1M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.3% | 4.5% | +6.8 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Commerce Media Solutions | $25.9M | $34.7M | −$8.9M | -26% |
| Owned and Operated | $15.7M | $21.3M | −$5.5M | -26% |
| AdParlor | $2.0M | $2.0M | −$16K | -0.8% |
| Call Solutions | $1.2M | $3.8M | −$2.6M | -68% |
| Revenue | $44.9M | $61.8M | −$17.0M | -27% |
| Net loss | $5.4M | $4.1M | $1.2M | +30% |
| Costs & expenses | $50.2M | $66.1M | −$15.8M | -24% |
| Operating costs | $48.8M | $61.7M | −$12.9M | -21% |
| Interest & other, net | $1.4M | $4.4M | −$3.0M | -67% |
| Income tax | $3K | −$116K | $119K | — |
| Cost of revenue | $34.8M | $43.2M | −$8.4M | -19% |
| Research & development | $2.8M | $2.9M | −$60K | -2% |
| Sales & marketing | $3.7M | $3.7M | $33K | +0.9% |
| General & admin | $5.7M | $8.8M | −$3.1M | -35% |
| Other operating costs | $1.7M | $3.1M | −$1.4M | -45% |
| Operating cash sources | $10.5M | $6.9M | $3.6M | +52% |
| Depreciation & amortization | $1.7M | $2.3M | −$653K | -28% |
| Share-based compensation | $954K | $1.1M | −$148K | -13% |
| Working capital & other | $7.8M | $3.5M | $4.4M | +126% |
| Net loss absorbed | $5.4M | $4.1M | $1.2M | +30% |
| Operating cash flow | $5.1M | $2.8M | $2.3M | +83% |
| Free cash flow (OCF − capex) | $5.1M | $2.8M | $2.3M | +83% |
| Capital expenditures | $57K | $21K | $36K | +171% |
Questions
How much did Fluent's revenue grow quarter over quarter in Q1 2026?
Fluent's revenue fell $17.0M (-27%) from $61.8M in Q4 2025 to $44.9M in Q1 2026.
What drove Fluent's revenue change in Q1 2026?
Commerce Media Solutions −$8.9M (-26%); Owned and Operated −$5.5M (-26%); Call Solutions −$2.6M (-68%).