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FLUENT
FLUENT (TIUM.U) investor relations material
FLUENT Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary1 Jun, 2026
Executive summary
Q1 2026 revenue was $17.9M, down from $22.9M year-over-year, reflecting ongoing retail price pressure in Florida.
Operating expenses were reduced by over 20% year-over-year as part of cost-saving initiatives.
Net loss from continuing operations was $14.9M, compared to a net loss of $9.1M in Q1 2025.
Adjusted EBITDA was $1.3M, down from $4.1M year-over-year.
Ended the quarter with $8.3M in cash and $78.8M in total debt.
Financial highlights
Gross profit before fair value adjustments was $5.5M (30.8% margin), down from $11.1M (48.5%) year-over-year.
Cash flow used in operations was $1.9M, compared to $1.5M in Q1 2025.
Adjusted EBITDA decreased primarily due to lower retail prices and reduced fair value of biological assets.
Net loss per share from continuing operations was $(0.02), unchanged year-over-year.
Outlook and guidance
Additional cost savings expected to materialize in Q2 2026 from ongoing optimization initiatives.
Strategic transactions underway: Vireo acquisition and Texas divestiture, both aimed at improving liquidity.
Management acknowledges significant doubt about the ability to continue as a going concern, pending successful completion of strategic initiatives.
Explain $30M debt equitization for Vireo deal
Describe the $30M Texas sale payment structure
Detail the Rosa Facility lease breach settlement
Vireo deal equitization agreement details
Details of the $61.5M uncertain tax position
Terms of the 95.4% effective rate interim loan
Assess the factors raising going concern doubts
Detail the Vireo merger share exchange ratio
Detail the terms of the Texas divestiture
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Latest events from FLUENT
- Revenue and margins fell, with liquidity and going concern risks highlighted.TIUM.U
Q4 202530 Apr 2026 - Q3 revenue up 3.5% to $26.1M; RIV Capital merger and Florida expansion to drive growth.TIUM.UQ3 20242 Feb 2026
- Q1 2025 revenue up 6% to $26.8M; EBITDA fell, net loss widened, cash rose to $30.7M.TIUM.UQ1 20252 Feb 2026
- Net loss widened to $18.4M on $53.4M revenue as margins fell and strategic changes began.TIUM.UQ2 20252 Feb 2026
- Net revenue was $79.5M with a $(32.0M) net loss; margin recovery expected from premium production.TIUM.UQ3 20252 Feb 2026
- Q2 revenue up 12% to $27.3M, with Florida growth and RIV Capital integration progressing.TIUM.UQ2 202423 Jan 2026
- Record $103.6M revenue, NY expansion, and strong cash flow set up 2025 growth despite impairment.TIUM.UQ4 202425 Nov 2025
Next FLUENT earnings date
Q2 202621 Aug, 2026
FLUENT
Next FLUENT earnings date
Q2 202621 Aug, 2026
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@ankurshah47_ x.com
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Amina0781App Store
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@theshortbearx.com
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