Fluent (FLNT) Investor presentation summary

Strategic positioning and business model

• Focused on commerce media, connecting advertisers with high-value consumers and enabling media partners to unlock new revenue streams in a privacy-focused, data-driven environment.

• Commerce media leverages first-party data and digital inventory to enrich customer experiences and drive scalable, predictable revenue.

• Offers integrated technology, long-term contracts, and favorable revenue share, enhancing revenue predictability.

• Monetization and acquisition at scale through robust audience targeting and incremental ad inventory for advertisers, and enriched customer experiences for media partners.

• Multiple touchpoints for monetization, including home page, shopping cart, checkout, and post-purchase, maximizing engagement throughout the customer journey.

Growth, financial performance, and market opportunity

• Commerce Media Solutions revenue grew 99% in 2025, comprising 56% of total consolidated revenue in 4Q 2025.

• Achieved adjusted EBITDA profitability in 4Q 2025, supported by enhanced Commerce Media Solutions revenue and improving consolidated margins.

• US commerce media market projected to reach $100B by 2027, with a 21% CAGR from 2023-2027.

• Fluent's Commerce Media Solutions annual revenue run rate reached $105M.

• Ongoing expense discipline and strategic shift from legacy business to higher-growth commerce media model.

Technology, data, and competitive advantages

• 15 years of customer acquisition experience and a large first-party database of consumer insights.

• AI-driven algorithms and optimization tools enhance ad relevance, conversions, and return on ad spend.

• Predictive algorithms and real-time intelligent bidding maximize campaign performance.

• Proprietary data and identity graph fuel personalized, data-driven consumer relationships.

• Differentiated by deep industry relationships and performance marketing expertise.