FLNT stock is higher in pre-market trading on January 15, 2020, after the company raised revenue guidance.
Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today announced that it expects to exceed its previously provided guidance for full-year 2019. These expectations are based on preliminary financial data and subject to final reporting and audit procedures. The Company’s updated outlook and previously provided guidance are reflected below:
Full-Year and Fourth Quarter 2019
- Full-year 2019 revenue is now anticipated to be $280.8 – $281.8 million, representing growth of 12% compared to full-year 2018 and an increase from previous guidance of $265 – $267 million. This reflects anticipated fourth quarter revenue of $79.1 – $80.1 million.
- Media Margin is now anticipated to be in the range of $93.0 – $94.0 million, representing an increase from previous guidance of $87 – $88 million. This reflects anticipated fourth quarter Media Margin of $25.7 – $26.7 million.
- Ryan Schulke, Fluent’s Chief Executive Officer, commented, “The improvement in our core commercial trending we noted in early November gained considerable further traction as the quarter progressed, closing out the year on a particularly strong note. We look forward to discussing our final full-year results in March.”
On November 19, 2019, Fluent announced that its Board of Directors approved a stock repurchase program. The program authorizes the repurchase of up to $5M of shares of the Company’s common stock. The repurchases will be made from time to time in open market transactions at prevailing market prices or in negotiated transactions off the market.