Fluent Management
Management criteria checks 2/4
Fluent's CEO is Don Patrick, appointed in Jul 2021, has a tenure of 5.17 years. total yearly compensation is $1.51M, comprised of 20% salary and 80% bonuses, including company stock and options. directly owns 1.11% of the company’s shares, worth $1.07M. The average tenure of the management team and the board of directors is 3.1 years and 3.2 years respectively.
Key information
Don Patrick
Chief executive officer
US$1.5m
Total compensation
| CEO salary percentage | 19.97% |
| CEO tenure | 5.2yrs |
| CEO ownership | 1.1% |
| Management average tenure | 3.1yrs |
| Board average tenure | 3.2yrs |
Recent management updates
Recent updates
Narrative Update • Aug 26
FLNT: Creator Network Momentum Will Support Bullish 2026 Reassessment
Fluent's analyst price target rises from $4.25 to $5.00 as analysts factor in the company's recent return to revenue growth, margin expansion, and higher out year estimates cited in recent research updates. Analyst Commentary Recent research on Fluent highlights a mix of optimism and caution as analysts respond to the company’s return to revenue growth, margin expansion, and updated forecasts.
Narrative Update • Aug 12
FLNT: Q2 Execution And Creator Agency Expansion Will Test Fair Value
Analysts have lifted their Fluent price target to $5.50 from $5.00, citing recent solid Q2 results, a return to reported revenue growth, stronger than expected adjusted EBITDA, and increased estimates for 2026 and 2027 as key supports for the higher fair value assumptions in this update. Analyst Commentary Recent research updates on Fluent point to a mix of optimism around execution and a more cautious stance on valuation and future growth.Narrative Update • Jun 12
FLNT: Creator Network Expansion Will Drive Bullish 2026 Reassessment
Narrative update on Fluent Analysts have kept their price target for Fluent steady at $4.25, with the stance supported by recent research that highlights a generally positive view on the stock. What's in the News Fluent launched Trevant, a creator marketing agency that builds creator first content and runs fully managed programs, paid amplification, and advanced measurement as an evolution of its AdParlor business.Narrative Update • May 29
FLNT: CMS Momentum And New Partnerships Will Drive 2026 Reassessment
Analysts have lifted their price target on Fluent to $4.25 from $3.50, citing a reassessment of fair value alongside updated views on discount rate, revenue growth, profit margins, and future P/E assumptions following recent mixed results and new bullish coverage. Analyst Commentary Recent research reflects a mixed but engaged view on Fluent, with bullish analysts focusing on specific growth drivers and cautious analysts highlighting execution risks and valuation questions.New Narrative • May 12
Commerce Media Fragility And Compliance Pressures Will Test Margins Yet Support Long Term Potential
Catalysts About Fluent Fluent operates a commerce media platform that connects retailers and advertisers to consumers at key moments in the shopping journey. What are the underlying business or industry changes driving this perspective?
New Narrative • Apr 26
Commerce Media Shift And First Party Data Will Transform Long Term Earnings Potential
Catalysts About Fluent Fluent operates a performance based commerce media platform that connects brands, retailers and advertisers with transacting consumers across owned marketplaces and partner environments. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 20
FLNT: Fair Value Now Hinges On 2026 Recovery And CMS Expansion
Analysts lifted Fluent's price target to $3.50 from $2.50, citing the doubling of CMS revenue and expectations for growth to resume in 2026 as key supports for the higher valuation range. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher US$3.50 price target as a sign that the doubled CMS revenue is now a more meaningful part of the valuation story.Narrative Update • Apr 06
FLNT: Fair Value Relies On 2026 Recovery And Expanding Post Booking Monetization
Analysts have lifted Fluent's price target to $3.50 from $2.50, citing mixed Q4 results with modestly lower revenue and adjusted EBITDA, alongside a doubling of CMS revenue and expectations for growth to return in 2026. Analyst Commentary Bullish Takeaways Bullish analysts view the higher US$3.50 price target as a reset that better reflects the current mix of results and the potential value of Fluent's business once growth resumes.Narrative Update • Mar 22
FLNT: Ongoing ATM Issuance And Delayed 2026 Recovery Will Pressure Returns
Analysts have raised Fluent's price target to $3.50 from $2.50, citing mixed Q4 results with modestly lower revenue and adjusted EBITDA, a doubling of CMS revenue, and expectations for growth to return in 2026. Analyst Commentary Bullish Takeaways Bullish analysts view the higher US$3.50 price target as a reflection of improved confidence in execution, even with Q4 results that were modestly below consensus.Narrative Update • Mar 07
FLNT: Ongoing ATM Equity Issuance Will Continue To Pressure Future Shareholder Returns
Analysts have reduced their price target on Fluent to $2.50, reflecting slightly higher assumed discount rates, a modest adjustment to profit margin expectations, and a small increase in the projected future P/E multiple. What's in the News Fluent, Inc.Narrative Update • Feb 21
FLNT: Ongoing ATM Equity Issuance Will Continue To Pressure Future Shareholder Returns
Analysts have nudged their price target on Fluent slightly higher to reflect a modestly adjusted discount rate, a small change in expected profit margin, and a marginally richer assumed future P/E, while keeping fair value per share at $2.50. What's in the News Fluent filed a follow-on equity offering for up to US$11.2 million of common stock.Narrative Update • Feb 05
FLNT: Ongoing ATM Equity Offering Will Sustain Pressure On Shareholder Returns
Analysts have adjusted their price target on Fluent to $2.50 from a prior $2.50, reflecting updated views on slightly lower required returns and modestly stronger profit margin expectations. What's in the News Fluent, Inc.Narrative Update • Jan 21
FLNT: ATM Equity Offering Will Pressure Profitability And Support Bearish Outlook
Analysts have revised their price target for Fluent to $2.50, citing slightly higher discount rate assumptions and a modest adjustment to expected profitability, while keeping fair value broadly in line with prior estimates. What's in the News Fluent, Inc.Narrative Update • Jan 06
FLNT: Stable Outlook Will Reflect ATM Offering And Margin Assumptions
Analysts have lowered their price target on Fluent to US$4.18 from US$4.36, citing slightly lower discount rate assumptions and marginally higher projected profit margins that together adjust their P/E expectations. What's in the News Fluent filed a follow-on equity offering totaling US$11.2 million in common stock, structured as an at-the-market offering (Key Developments).Analysis Article • Dec 23
Further Upside For Fluent, Inc. (NASDAQ:FLNT) Shares Could Introduce Price Risks After 30% Bounce
Fluent, Inc. ( NASDAQ:FLNT ) shares have had a really impressive month, gaining 30% after a shaky period beforehand...Narrative Update • Dec 14
FLNT: Future Upside Is Expected From Stable Fair Value Outlook
Analysts have modestly lowered their price target on Fluent, trimming fair value by a small amount to reflect a slightly lower discount rate and marginally softer long term margin and valuation assumptions. Valuation Changes Fair Value: Unchanged at $2.50 per share, indicating no adjustment to the central valuation estimate.Narrative Update • Nov 30
FLNT: Future Performance Will Be Supported By Projected Fair Value Stability
Analysts have raised their price target for Fluent from $2.50 to $2.50 per share. They cite expectations for stronger revenue growth and modest adjustments to the company's discount rate and profit margin forecasts.Analysis Article • Nov 26
We Think Fluent (NASDAQ:FLNT) Has A Fair Chunk Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...Narrative Update • Nov 16
FLNT: Upcoming Capital Raise Will Drive Future Shareholder Value
Narrative Update on Fluent Price Target Analysts have revised Fluent's fair value estimate downward from $3.00 to $2.50 per share. This change is attributed to adjustments in discount rates as well as updated projections for revenue growth and profit margins.
New Narrative • Apr 10
Commerce Media Solutions Will Open New Market Opportunities
Fluent's focus on high-margin Commerce Media Solutions and major partnerships is expected to significantly boost revenue and market share.Analysis Article • Jun 24
Fluent (NASDAQ:FLNT) Is Doing The Right Things To Multiply Its Share Price
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Mar 14
We Think Fluent (NASDAQ:FLNT) Can Manage Its Debt With Ease
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Jun 08
These 4 Measures Indicate That Fluent (NASDAQ:FLNT) Is Using Debt Reasonably Well
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Mar 10
Analysts Have Been Trimming Their Fluent, Inc. (NASDAQ:FLNT) Price Target After Its Latest Report
Fluent, Inc. ( NASDAQ:FLNT ) just released its latest yearly results and things are looking bullish. Results overall...Analysis Article • Feb 24
We Think Fluent (NASDAQ:FLNT) Can Stay On Top Of Its Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Nov 04
Is Fluent (NASDAQ:FLNT) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • May 27
Here's Why Fluent, Inc.'s (NASDAQ:FLNT) CEO Might See A Pay Rise Soon
Shareholders will be pleased by the robust performance of Fluent, Inc. ( NASDAQ:FLNT ) recently and this will be kept...Analysis Article • Apr 10
Estimating The Fair Value Of Fluent, Inc. (NASDAQ:FLNT)
Today we will run through one way of estimating the intrinsic value of Fluent, Inc. ( NASDAQ:FLNT ) by taking the...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2026 | n/a | n/a | -US$23m |
| Mar 31 2026 | n/a | n/a | -US$24m |
| Dec 31 2025 | US$2m | US$301k | -US$27m |
| Sep 30 2025 | n/a | n/a | -US$26m |
| Jun 30 2025 | n/a | n/a | -US$27m |
| Mar 31 2025 | n/a | n/a | -US$31m |
| Dec 31 2024 | US$890k | US$301k | -US$29m |
| Sep 30 2024 | n/a | n/a | -US$28m |
| Jun 30 2024 | n/a | n/a | -US$53m |
| Mar 31 2024 | n/a | n/a | -US$38m |
| Dec 31 2023 | US$915k | US$320k | -US$63m |
| Sep 30 2023 | n/a | n/a | -US$129m |
| Jun 30 2023 | n/a | n/a | -US$92m |
| Mar 31 2023 | n/a | n/a | -US$153m |
| Dec 31 2022 | US$1m | US$377k | -US$123m |
| Sep 30 2022 | n/a | n/a | -US$52m |
| Jun 30 2022 | n/a | n/a | -US$58m |
| Mar 31 2022 | n/a | n/a | -US$6m |
| Dec 31 2021 | US$522k | US$361k | -US$10m |
| Sep 30 2021 | n/a | n/a | -US$14m |
| Jun 30 2021 | n/a | n/a | -US$10m |
| Mar 31 2021 | n/a | n/a | -US$4m |
| Dec 31 2020 | US$520k | US$344k | US$2m |
| Sep 30 2020 | n/a | n/a | US$3m |
| Jun 30 2020 | n/a | n/a | -US$3m |
| Mar 31 2020 | n/a | n/a | -US$2m |
| Dec 31 2019 | US$3m | US$300k | -US$2m |
Compensation vs Market: Don's total compensation ($USD1.51M) is above average for companies of similar size in the US market ($USD649.34K).
Compensation vs Earnings: Don's compensation has increased whilst the company is unprofitable.
CEO
Don Patrick (65 yo)
5.2yrs
Tenure
US$1,509,212
Compensation
Mr. Donald Huntley Patrick, also known as Don He is Chief Operating Officer of Fluent, inc from January 05, 2018 to April 22, 2026. He had been Interim Chief Executive Officer of Fluent, Inc. since July 1,...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 5.2yrs | US$1.51m | 1.11% $ 1.1m | |
| Co-Founder | no data | US$323.67k | 15.19% $ 14.6m | |
| Co-Founder | 16.7yrs | US$326.19k | 10.93% $ 10.5m | |
| CFO and Principal Financial & Accounting Officer | 3.6yrs | US$940.45k | 0.068% $ 64.9k | |
| Chief Marketing Officer | no data | no data | no data | |
| Vice President of People | 6.6yrs | no data | no data | |
| Senior Vice President of Marketing | no data | no data | no data | |
| President of Commerce Media | 2.7yrs | no data | no data | |
| Chief Product Officer | 1.6yrs | no data | no data | |
| Head of Data & Agencies | 1.1yrs | no data | no data | |
| Corporate Secretary | no data | no data | no data |
3.1yrs
Average Tenure
48yo
Average Age
Experienced Management: FLNT's management team is considered experienced (3.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 10.8yrs | US$323.67k | 15.19% $ 14.6m | |
| Co-Founder | 8.5yrs | US$326.19k | 10.93% $ 10.5m | |
| Independent Director | 4.7yrs | US$115.00k | 0.10% $ 100.8k | |
| Independent Director | 4.7yrs | US$120.00k | 0.10% $ 100.8k | |
| Chairman of the Board & Lead Independent Director | 10.8yrs | US$145.00k | 0.22% $ 208.5k | |
| Independent Director | 6.8yrs | US$125.00k | 0.17% $ 162.0k | |
| Member of Advisory Board | 1.3yrs | no data | no data | |
| Member of Advisory Board | 1.3yrs | no data | no data | |
| Independent Director | 1.7yrs | US$113.22k | 0.080% $ 76.8k | |
| Member of Advisory Board | 1.3yrs | no data | no data | |
| Member of Advisory Board | 1.3yrs | no data | no data | |
| Member of Advisory Board | 1.3yrs | no data | no data |
3.2yrs
Average Tenure
57yo
Average Age
Experienced Board: FLNT's board of directors are considered experienced (3.2 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/10 23:40 |
| End of Day Share Price | 2026/09/10 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Fluent, Inc. is covered by 4 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Patrick Sholl | Barrington Research Associates, Inc. |
| Maria Ripps | Canaccord Genuity |
| Eric Martinuzzi | Lake Street Capital Markets, LLC |