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FLUENT Reports Second Quarter 2026 Results
Q2 2026 Revenue brought in $17.1M
Ended quarter with $4.5 million of cash and cash equivalents
New Interim CEO appointed
TAMPA, Fla., Aug. 21, 2026 (GLOBE NEWSWIRE) — FLUENT Corp. (CSE: FNT.U) (OTCQB: CNTMF) (“FLUENT” or the “Company”), a vertically-integrated, multi-state cannabis company, today announced its <a href="https://bitcomme.com/first-national-financial-corporation-ceases-to-be-a-reporting-issuer/” title=”FIRST NATIONAL FINANCIAL CORPORATION CEASES TO BE A REPORTING ISSUER”>financial and operating results for the second quarter ended June 30, 2026. Unless otherwise indicated, all financial results are presented in U.S. dollars.
Management Commentary
“As we move through the second half of the year, our priorities remain clear,” said Matt Mundy, Interim CEO and Chief Legal Officer of the Company. “We are focused on completing the Vireo transaction while continuing to optimize our operational footprint, particularly in Florida, where we are seeing promising results from the actions taken to date. At the same time, we remain disciplined in managing the business, with a continued focus on reducing operating costs, improving efficiency, and strengthening the Company’s financial position.”
Q2 2026 Financial Highlights (vs. Q2 2025)
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Revenue from continuing operations was $17.1 million compared to $22.8 million.
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Florida revenue was $12.8 million compared to $19.2 million.
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Gross profit before fair value adjustments1 from continuing operations was $4.3 million or 25.2% of revenue, compared to $8.9 million or 38.8% of revenue.
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Adjusted EBITDA2 was $0.3 million compared to $3.6 million. The decrease was primarily due to continued downward pressure on retail prices in Florida, resulting in a corresponding reduction in the fair value of biological assets.
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Cash flow provided by operations was $0.8 million compared to $3.2 million.
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On June 30, 2026, the Company had approximately $4.5 million of cash and cash equivalents and $79.7 million of total debt outstanding, with approximately 692 million shares outstanding on an as-converted basis, compared to $22.9 million of cash and cash equivalents and $78.1 million of total debt, with approximately 687 million shares outstanding on an as-converted basis on June 30, 2025.
1 Gross profit before fair value adjustments is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates gross profit before fair value adjustments from gross profit plus (minus) the changes in fair value of biological assets, as presented in the consolidated statement of operations.
2 Adjusted EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates Adjusted EBITDA as EBITDA (being calculated as the net income (loss), plus (minus) interest expense (income) and finance transactions costs, plus taxes, plus depreciation and amortization) plus (minus) the changes in fair value of biological assets, plus (minus) the changes in fair market value of derivatives, plus (minus) certain one-time non-operating expenses, as determined by management.
