In the fight club arena of adtech where heavyweights square off (Trade Desk $43B, Magnite $7B, PubMatic $2.5B) the featherweight in the corner, Fluent (FLNT) $575M, has been quietly growing revenue muscle and is on the verge of jumping weight classes. Its impressive $308M 12 month trailing revenue (currently higher than Magnite’s) and profitability make it a solid value play, especially when you look at their business model: a performance-based digital marketing services company. Fluent has a vested interest in the success of every one of their clients.
The share float is relatively small at 36M, so with another strong earnings report in March this should trigger a buying pressure updraft. Management also owns 21% of the shares, which means they have personal incentive to continue improving margins and increase revenue. International reach is growing in the U.K. and they are set to launch in Canada and elsewhere. There isn’t too much else to illustrate beyond the fact Fluent has been steadily honing their operations quarter-to-quarter and appear to be on the verge of finally gaining some well deserved recognition. They just keep training and getting stronger.
“Everyone has a plan until they get punched in the mouth.” -Mike Tyson