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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Fluent
Fluent (FLNT) investor relations material
Fluent Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue rose 14% YoY to $53.6M; aggregate continuing-business revenue grew 29%, accelerating from 25% in Q2.
Commerce Media Solutions (CMS) doubled revenue to $37.5M, contributing 70% of consolidated revenue and exceeding a $145M annual run rate.
Adjusted EBITDA was near break-even at -$43K versus a $3.4M loss in Q3 2025; FY26 outlook calls for double-digit continuing-business growth and improved adjusted EBITDA.
Gross profit rose 41% to $15.3M, or 28% of revenue; net loss narrowed to $3.1M from $7.6M.
Substantial doubt about the ability to continue as a going concern remains, tied to reliance on uncommitted financing.
Financial highlights
Q3 revenue was $53.6M versus $47.0M; 9M revenue was $146.9M, essentially flat YoY.
Q3 net loss narrowed to $3.1M from $7.6M; 9M net loss narrowed to $14.7M from $23.0M.
Q3 adjusted net loss was $2.5M, or $0.08/share, versus $6.5M, or $0.23/share; 9M adjusted net loss was $12.0M versus $19.0M.
Adjusted EBITDA loss was $43K in Q3 versus $3.4M; 9M loss was $5.0M versus $9.2M.
Outlook and guidance
FY26 outlook remains double-digit growth in aggregate continuing-business revenue and improved full-year adjusted EBITDA.
Q4 outlook calls for double-digit continuing-business revenue growth and positive adjusted EBITDA; CMS growth is expected to remain high double digits but moderate from Q3.
Management expects double-digit consolidated revenue growth in 2027; CMS gross margins are expected to trend in the high-20% range, with Q3's contract renegotiation benefit not expected to recur.
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Latest events from Fluent
- Commerce Media Solutions delivers rapid growth and margin expansion, powered by AI and data.FLNT
Investor presentation - Commerce Media Solutions drove 90% growth and margin gains, but liquidity risks remain.FLNTQ2 2026
- All proposals, including director elections and plan amendments, were approved by majority vote.FLNTAGM 2026
- Commerce media revenue surged 99% in 2025, driven by AI and first-party data innovation.FLNTInvestor presentation
- Commerce Media Solutions revenue surged 104% to 58% of total, but going concern risk persists.FLNTQ1 2026
- Annual meeting covers director elections, compensation, warrants, and governance changes.FLNTProxy filing
- Commerce Media Solutions' 341% growth and margin gains contrast with urgent capital and going concern risks.FLNTQ3 2024
- Q1 2025 revenue fell 16% to $55.2M, net loss widened, and going concern risks remain.FLNTQ1 2025
- Commerce Media Solutions surged 139% in Q4, now 26% of revenue, driving future growth.FLNTQ4 2024
Next Fluent earnings date
Q4 202610 Mar, 2027
Fluent
Next Fluent earnings date
Q4 202610 Mar, 2027
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Frequently asked questions
Fluent Inc. is a data-driven digital marketing company that specializes in customer acquisition, engagement, and retention solutions. The company leverages proprietary data analytics and performance-based marketing strategies to connect brands with targeted consumers across various digital channels. Fluent serves clients in industries such as e-commerce, financial services, healthcare, and entertainment. The company is headquartered in New York, New York, and its shares are listed on the NASDAQ.