Fluent, Inc. (FLNT) is up 5.90% in the after-hours trading session at the price of $3.05 after the announcement of the full acquisition of Winopoly, LLC. FLNT is a leading performance marketing company with expertise in creating reliable connections between consumers and brands.
Full Acquisition of Winopoly, LLC
On 7th September 2021, FLNT announced the complete acquisition of Winopoly, LLC. Earlier, on 1st April 2020, Fluent acquired a 50% stake in Winopoly. This complete acquisition will accelerate Fluent’s ability to provide end-to-end and personalized customer acquisition solutions to a growing roster of global brands. Fluent is also launching Fluent Sales Solutions. It is a new business designed to reach consumers who shop within high-consideration categories like Medicare, Life Insurance, Auto Insurance, Home Services, Financial Services, and Legal Services. It will maximize the company’s evolving capabilities. With the full integration of Winopoly, Fluent Sales Solutions will enable companies within these categories to engage high-intent consumers through their preferred channels.
FLNT Second Quarter 2021 Financial Results
On 9th August 2021, FLNT published financial results for the second quarter ended 30th June 2021. CEO of FLNT, Don Patrick remarked that their second-quarter results indicate accelerated investment in their strategic priority of enhancing quality across the marketplace. They have boosted their Traffic Quality Initiative with the help of their fully positioned founding team. They have uncovered opportunities to test media expansion strategies rapidly, which generated revenue beyond their expectations. For the second half of the year, they are focused on expanding traffic volumes and enhancing profitability to continue their journey to create meaningful, enduring, and higher-value connections for consumers, he added.
Second Quarter Financial Summary
FLNT reported revenue of $73.4 million for the second quarter ended 30th June 2021. It was 3% up from $71.5 million in the second quarter of the previous year. For the six months ended 30th June 2021, revenue was $143.5 million. Net revenues of $150 million, reported for the same period of 2020.
FLNT reported a net loss of $5.2 million or $0.06 per share for the second quarter of 2021. The net income was $0.5 million or $0.01 per share for the same quarter of 2020. Media margin of $20.1 million reported for the second quarter ended 30th June 2021. It represents a drop of 19% from the first quarter of 2020. Adjusted EBITDA was $1.9 million in the second quarter of 2021, representing 2.5% of revenue. Adjusted net loss of $1.9 million or $0.02 per share, reported for the second quarter of 2021.
