Fluent, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Fluent, Inc. released its 2023 10-K, detailing increases in treasury stock and vested RSUs.</b>

AI Summary

Fluent, Inc. (FLNT) filed a Annual Report (10-K) with the SEC on April 2, 2024. Fluent, Inc. filed its 10-K for the fiscal year ending December 31, 2023. The company reported outstanding shares of treasury stock at 4,611,569 as of December 31, 2023, an increase from 4,300,152 in the prior year. Vested not delivered RSUs were 1,739,592 as of December 31, 2023, up from 1,691,666 in the prior year. A cash reimbursement of $640 was received for tenant improvements in 2019. Revenue aggregation is based on customer location.

Why It Matters

For investors and stakeholders tracking Fluent, Inc., this filing contains several important signals. The increase in treasury stock is attributed to shares withheld for statutory tax withholding upon RSU vesting, impacting share count and potentially future dilution. The rise in vested not delivered RSUs indicates a growing number of equity awards that have vested but whose delivery is deferred, affecting future share issuance.

Risk Assessment

Risk Level: low — Fluent, Inc. shows low risk based on this filing. The filing is a standard 10-K with no immediate red flags, indicating a routine disclosure of financial performance and operational details.

Analyst Insight

Monitor future filings for trends in treasury stock and RSU activity, as these can impact share count and shareholder value.

Key Numbers

• 4,611,569 — Outstanding Treasury Stock (As of December 31, 2023)
• 4,300,152 — Outstanding Treasury Stock (As of December 31, 2022)
• 1,739,592 — Outstanding Vested Not Delivered RSUs (As of December 31, 2023)
• 1,691,666 — Outstanding Vested Not Delivered RSUs (As of December 31, 2022)
• 640 — Cash Reimbursement (For tenant improvements in 2019)

Key Players & Entities

• Fluent, Inc. (company) — Filer of the 10-K
• Cogint, Inc. (company) — Former name of Fluent, Inc.
• IDI, Inc. (company) — Former name of Fluent, Inc.
• Tiger Media, Inc. (company) — Former name of Fluent, Inc.
• New York City (location) — Location of corporate headquarters

FAQ

Industry Context

Fluent, Inc. operates in the Services-Advertising industry (SIC 7310).

Regulatory Implications

The filing is a standard 10-K under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-K for detailed financial statements and management discussion.
2. Analyze the impact of treasury stock and RSU changes on future earnings per share.
3. Compare Fluent, Inc.'s performance metrics with industry peers.

Year-Over-Year Comparison

This filing is the annual 10-K report for the fiscal year ended December 31, 2023, providing a comprehensive update since the previous reporting period.

Key Financial Figures

• $0.0005 — nge on which registered Common Stock, $0.0005 par value per share FLNT The Nasdaq
• $752 b — advertising spend is projected to reach $752 billion, defining the Total Addressable M
• $300 billion — Serviceable Available Market ("SAM") of $300 billion. This delineates the scope and potentia
• $109 billion — r a substantial opportunity, surpassing $109 billion in the digital advertising space. The
• $2 billion — r inception, we have deployed more than $2 billion in media spend to our owned and operate
• $24 billion — g is estimated to grow to approximately $24 billion in 2024 and is expected to account for

Filing Documents

• flnt20231231_10k.htm (10-K) — 1669KB
• ex_632288.htm (EX-10.11) — 78KB
• ex_632289.htm (EX-10.12) — 93KB
• ex_644711.htm (EX-10.25) — 7KB
• ex_648986.htm (EX-10.26) — 844KB
• ex_599965.htm (EX-21.1) — 4KB
• ex_599966.htm (EX-23.1) — 3KB
• ex_599967.htm (EX-31.1) — 14KB
• ex_599968.htm (EX-31.2) — 17KB
• ex_599969.htm (EX-32.1) — 7KB
• ex_599970.htm (EX-32.2) — 8KB
• ex_633136.htm (EX-97.1) — 56KB
• logo_text.jpg (GRAPHIC) — 9KB
• 0001437749-24-010639.txt (&nbsp;) — 10053KB
• flnt-20231231.xsd (EX-101.SCH) — 75KB
• flnt-20231231_cal.xml (EX-101.CAL) — 71KB
• flnt-20231231_def.xml (EX-101.DEF) — 547KB
• flnt-20231231_lab.xml (EX-101.LAB) — 481KB
• flnt-20231231_pre.xml (EX-101.PRE) — 591KB
• flnt20231231_10k_htm.xml (XML) — 1397KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 33 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 33 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure. 34 Item 9A.

Controls and Procedures

Controls and Procedures. 34 Item 9B. Other Information. 34 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 34 PART III 35 Item 10. Directors, Executive Officers and Corporate Governance. 35 Item 11.

Executive Compensation

Executive Compensation. 35 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 35 Item 13. Certain Relationships and Related Transactions, and Director Independence. 35 Item 14. Principal Accounting Fees and Services. 35 PART IV 36 Item 15. Exhibits, Financial Statement Schedules. 36 Item 16. Form 10-K Summary 37

SIGNATURES

SIGNATURES 38 i Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K for the fiscal year ended December 31, 2023 contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements contain information about our expectations, beliefs or intentions regarding our product development and commercialization efforts, business, financial condition, results of operations, strategies or prospects, and other similar matters. These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. These statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," "will likely result," "could," and other words of similar meaning. Actual results could differ materially from those contained in forward-looking statements. Many factors could cause actual results to differ materially from those in forward-looking statements, including those matters discussed below, as well as those listed in Item 1A. Risk Factors. Other unknown or unpredictable factors that could also adversely affect our business, financial condition, and results of operations may arise from time to time. Given these risks and uncertainties, the forward-looking statements discussed in this report may not prove to be accurate. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of Fluent's management as of the date of this report. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions

Business

Item 1. Business. This business description should be read in conjunction with our audited consolidated financial statements and accompanying notes thereto appearing elsewhere in this Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"), which are incorporated herein by this reference. Company Overview Fluent, Inc. ("we," "us," "our," "Fluent," or the "Company") is an industry leader in digital marketing services. We primarily perform customer acquisition services by operating highly scalable digital marketing campaigns, through which we connect our advertiser clients with consumers they are seeking to reach. We access these consumers through both our owned and operated digital media properties and our auxiliary syndicated performance marketplace products. In 2023 we delivered data and performance-based customer acquisition services for over 500 consumer brands, direct marketers, and agencies across a wide range of industries, inclu ding Media & Entertainment, Financial Products & Services, Health & Life Sciences, Retail & Consumer, and Staffing & Recruitment. We attract consumers at scale to our owned and operated digital media propert ies primarily through promotional offerings where they are rew arded for completing activities within our platforms . When registering on our sites, consumers provide their names, contact information, and opt-in permission to present them with relevant offers on behalf of our clien ts. Approximately 90% of these users engage with our media on their mobile devices or tablets. Once users have registered on our sites, we integrate our proprietary direct marketing technologies to engage them with surveys, polls, and other experiences, through which we gather information about their lifestyles, preferences, and purchasing histories, among other matters. Based on these insights, we serve targeted, relevant offers to them on behalf of our clients. As new users register and engage on our sites and e

View Full Filing

View this 10-K filing on SEC EDGAR