Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187M | $212M | $250M | $282M | $311M | $329M | $361M | $298M | $255M | $209M |
| Revenue growth | — | 13.3% | 18.2% | 12.5% | 10.3% | 6.0% | 9.7% | -17.4% | -14.7% | -18.0% |
| Gross profit | $53.0M | — | — | — | — | — | — | — | — | — |
| Gross margin | 28.4% | — | — | — | — | — | — | — | — | — |
| Operating income | -$34.0M | -$21.0M | $11.4M | $5.22M | $8.38M | -$4.67M | -$120M | -$60.1M | -$23.7M | -$20.3M |
| Operating margin | -18.2% | -9.9% | 4.5% | 1.9% | 2.7% | -1.4% | -33.1% | -20.2% | -9.3% | -9.7% |
| Net income | -$29.1M | -$53.2M | -$17.9M | -$1.75M | $2.21M | -$10.1M | -$123M | -$63.2M | -$29.3M | -$27.2M |
| Net margin | -15.6% | -25.1% | -7.2% | -0.6% | 0.7% | -3.1% | -34.2% | -21.2% | -11.5% | -13.0% |
| EPS (diluted) | -$0.65 | -$0.87 | -$0.23 | -$0.02 | $0.03 | -$0.13 | -$1.51 | -$4.59 | -$1.80 | -$1.05 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.10M | $2.51M | $23.5M | $26.0M | $20.3M | $12.4M | $1.96M | $8.14M | -$14.1M | -$1.47M |
| Capital expenditures | $762K | $732K | $238K | $2.09M | $64.0K | $36.0K | $17.0K | $25.0K | $13.0K | $69.0K |
| Free cash flow | $1.34M | $1.78M | $23.2M | $23.9M | $20.2M | $12.4M | $1.95M | $8.11M | -$14.1M | -$1.54M |
| Share buybacks | — | $0.00 | $9.00K | $1.79M | $1.30M | $0.00 | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $10.1M | $16.6M | $17.8M | $18.7M | $21.1M | $34.5M | $25.5M | $15.8M | $9.44M | $12.9M |
| Total assets | $312M | $317M | $293M | $317M | $310M | $318M | $184M | $112M | $93.6M | $89.1M |
| Total liabilities | $82.3M | $93.0M | $86.1M | $106M | $93.3M | $105M | $90.0M | $77.5M | $68.7M | $70.9M |
| Long-term debt | $45.9M | $60.2M | $52.0M | $44.1M | $33.3M | $40.3M | $35.6M | $25.5M | $3.97M | $3.73M |
| Shareholders' equity | $230M | $224M | $207M | $211M | $217M | $213M | $94.0M | $34.4M | $25.0M | $18.2M |
| Retained earnings | -$114M | -$167M | -$185M | -$187M | -$185M | -$195M | -$318M | -$382M | -$411M | -$438M |
| Shares (wtd avg diluted) | 53.6M | 61.2M | 76.7M | 79.4M | 79.5M | 80.0M | 81.4M | 13.8M | 16.3M | 26.0M |
Every figure is extracted from Fluent, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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