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Note 9 - Segment Information
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

9. Segment information

 

The Company identifies operating segments as components of an entity for which discrete financial information is available and is regularly reviewed by the chief operating decision maker ("CODM") in making decisions regarding resource allocation and performance assessment. The profitability measure employed by CODM is earnings before interest, taxes, depreciation, and amortization ("EBITDA"). As of June 30, 2023, the Company had two operating segments with two corresponding reporting units, "Fluent" and "All Other," and one reportable segment. "Fluent," for the purposes of segment reporting, represents the consolidated operating results of the Company excluding "All Other." "All Other" represents the operating results of AdParlor, LLC and is included for purposes of reconciliation of the respective balances below to the consolidated financial statements.

 

Summarized financial information concerning the Company's segments for the three and six months ended June 30, 2023 and 2022 are shown in the following tables below:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Fluent segment revenue(1):

                

United States

  40,200  $54,684  $83,108  $115,343 

International

  39,809  $41,258   72,139   66,633 

Fluent segment revenue

  80,009   95,942   155,247   181,976 

All Other segment revenue(1):

                

United States

  2,136  $2,387  $4,152  $5,376 

International

  —   32   —   72 

All Other segment revenue

  2,136  $2,419  $4,152  $5,448 

Segment EBITDA

                

Fluent segment EBITDA

 $9,685  $(48,168) $(18,894) $(46,247)

All Other segment EBITDA

  149   108   (66)  (135)

Total EBITDA

  9,834   (48,060)  (18,960)  (46,382)

Depreciation and amortization

  3,095   3,332   5,454   6,639 

Total income (loss) from operations

 $6,739  $(51,392) $(24,414) $(53,021)

(1) Revenue aggregation is based upon location of the customer.

 

FLUENT, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(Amounts in thousands, except share and per share data)

(unaudited)

 

  

June 30,

  

December 31,

 
  2023  2022 

Total assets:

      

Fluent

 $140,236  $168,486 

All Other

  14,846   15,483 

Total assets

 $155,082  $183,969

 

 

As of June 30, 2023, long-lived assets are all located in the United States.

 

For the six months ended  June 30, 2023, the Company identified an international customer within the Fluent segment with revenue in the amount of $41,997 which represents 26% of consolidated revenue.