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Note 9 - Segment Information
 9 Months Ended
Sep. 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 September 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 nine months ended September 30, 2023 and 2022 are shown in the following tables below:

 

  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2023

  

2022

  

2023

  

2022

 

Fluent segment revenue(1):

                

United States

  44,041  $53,853  $127,149  $169,197 

International

  20,060   33,209   92,199   99,841 

Fluent segment revenue

  64,101   87,062   219,348   269,038 

All Other segment revenue(1):

                

United States

  2,138  $1,984  $6,290  $7,360 

International

  —   —   —   72 

All Other segment revenue

  2,138  $1,984  $6,290  $7,432 

Segment EBITDA

                

Fluent segment EBITDA

 $(28,879) $4,192  $(47,773) $(42,055)

All Other segment EBITDA

  (2,397)  (167)  (2,463)  (302)

Total EBITDA

  (31,276)  4,025   (50,236)  (42,357)

Depreciation and amortization

  2,658   3,398   8,112   10,037 

Total income (loss) from operations

 $(33,934) $627  $(58,348) $(52,394)

(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)

 

  

September 30,

  

December 31,

 
  2023  2022 

Total assets:

      

Fluent

 $99,807  $168,486 

All Other

  12,283   15,483 

Total assets

 $112,090  $183,969

 

 

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

 

For the nine months ended  September 30, 2023, the Company identified an international customer within the Fluent segment with revenue in the amount of $47,658 which represents 21% of consolidated revenue.