Fluent (FLNT) investor relations material

Business overview and strategy

• Specializes in commerce media, connecting advertisers with high-value consumers and enabling media partners to unlock new revenue streams.

• Leverages first-party data and AI-driven technology for personalized, data-driven consumer relationships and ad optimization.

• Expanding into new verticals such as travel, lifestyle, and home services, beyond traditional retail.

• Introduced in-store commerce media, accessing the 83% of retail transactions occurring offline, in partnership with Bilt Technologies.

• Strategic roadmap focuses on accelerating commerce media leadership, expanding media partner network, and leveraging differentiated data capabilities.

Financial performance and growth

• Commerce Media Solutions revenue grew 99% in FY 2025, now comprising 63% of total consolidated revenue in 2Q26.

• Achieved 8% total consolidated revenue growth and 25% growth in aggregate continuing business compared to 2Q25.

• Commerce Media Solutions gross margin reached 27% in 2Q26, up from 18% in 2Q25.

• Adjusted EBITDA profitability achieved in 4Q25, with ongoing expense discipline supporting margin improvement.

• Annual revenue run rate for Commerce Media Solutions reached $125M, with the US commerce media market estimated at $140B by 2030.

Technology and operational highlights

• AI-powered targeting and predictive algorithms drive 1:1 ad personalization, boosting conversions and ROAS.

• Multiple touchpoints for advertisers and partners throughout the customer journey, from discovery to post-purchase.

• Owned and operated business provides a foundation with 15 years of customer acquisition experience and a robust first-party database.

• Case studies show significant conversion lifts: 54% more conversions for a crafts retailer and 500% lift for a pet food subscription brand.

• Industry-leading technology and AI solutions ensure optimal ad delivery and campaign performance.