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Side-by-side financial comparison of Fluent, Inc. (FLNT) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
Fluent, Inc. is the larger business by last-quarter revenue ($61.8M vs $55.5M, roughly 1.1× indie Semiconductor, Inc.). On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (2.6% vs -5.5%). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (2.9% CAGR vs -3.2%).
THG Fluently, formerly Language Connect, is a translation and language localisation service provided by THG Ingenuity. It provides a range of language services, including translation, interpreting, localisation, voice-overs, transcription, and multilingual search engine optimization.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
FLNT vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $61.8M | $55.5M |
| Net Profit | $-4.1M | — |
| Gross Margin | — | 38.0% |
| Operating Margin | 0.3% | -70.1% |
| Net Margin | -6.7% | — |
| Revenue YoY | -5.5% | 2.6% |
| Net Profit YoY | -20.1% | — |
| EPS (diluted) | $-0.09 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $55.5M | ||
| Q4 25 | $61.8M | $58.0M | ||
| Q3 25 | $47.0M | $53.7M | ||
| Q2 25 | $44.7M | $51.6M | ||
| Q1 25 | $55.2M | $54.1M | ||
| Q4 24 | $65.4M | $58.0M | ||
| Q3 24 | $64.5M | $54.0M | ||
| Q2 24 | $58.7M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-4.1M | $-31.2M | ||
| Q3 25 | $-7.6M | $-38.3M | ||
| Q2 25 | $-7.2M | $-39.0M | ||
| Q1 25 | $-8.3M | $-34.5M | ||
| Q4 24 | $-3.4M | $-34.4M | ||
| Q3 24 | $-7.9M | $-49.7M | ||
| Q2 24 | $-11.6M | $-19.2M |
| Q1 26 | — | 38.0% | ||
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% |
| Q1 26 | — | -70.1% | ||
| Q4 25 | 0.3% | -58.5% | ||
| Q3 25 | -13.4% | -71.4% | ||
| Q2 25 | -15.9% | -83.3% | ||
| Q1 25 | -12.8% | -72.0% | ||
| Q4 24 | -8.3% | -58.4% | ||
| Q3 24 | -6.0% | -92.5% | ||
| Q2 24 | -17.7% | -70.0% |
| Q1 26 | — | — | ||
| Q4 25 | -6.7% | -53.8% | ||
| Q3 25 | -16.1% | -71.3% | ||
| Q2 25 | -16.2% | -75.6% | ||
| Q1 25 | -15.0% | -63.9% | ||
| Q4 24 | -5.2% | -59.2% | ||
| Q3 24 | -12.3% | -92.1% | ||
| Q2 24 | -19.8% | -36.6% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.09 | $-0.16 | ||
| Q3 25 | $-0.27 | $-0.19 | ||
| Q2 25 | $-0.30 | $-0.20 | ||
| Q1 25 | $-0.39 | $-0.18 | ||
| Q4 24 | $-0.12 | $-0.18 | ||
| Q3 24 | $-0.48 | $-0.28 | ||
| Q2 24 | $-0.75 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.9M | $174.4M |
| Total DebtLower is stronger | $34.6M | $402.8M |
| Stockholders' EquityBook value | $18.2M | $348.9M |
| Total Assets | $89.1M | $869.6M |
| Debt / EquityLower = less leverage | 1.90× | 1.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.4M | ||
| Q4 25 | $12.9M | $145.5M | ||
| Q3 25 | $9.2M | $160.9M | ||
| Q2 25 | $4.9M | $192.6M | ||
| Q1 25 | $4.8M | $236.6M | ||
| Q4 24 | $9.4M | $274.2M | ||
| Q3 24 | $6.6M | $96.9M | ||
| Q2 24 | $5.0M | $112.3M |
| Q1 26 | — | $402.8M | ||
| Q4 25 | $34.6M | $353.4M | ||
| Q3 25 | $26.0M | $353.5M | ||
| Q2 25 | $23.2M | $352.5M | ||
| Q1 25 | $25.6M | $379.0M | ||
| Q4 24 | $35.6M | $381.3M | ||
| Q3 24 | $37.9M | — | ||
| Q2 24 | $33.3M | — |
| Q1 26 | — | $348.9M | ||
| Q4 25 | $18.2M | $358.0M | ||
| Q3 25 | $21.6M | $369.2M | ||
| Q2 25 | $19.1M | $390.4M | ||
| Q1 25 | $22.0M | $405.6M | ||
| Q4 24 | $25.0M | $417.9M | ||
| Q3 24 | $20.0M | $458.6M | ||
| Q2 24 | $27.5M | $470.7M |
| Q1 26 | — | $869.6M | ||
| Q4 25 | $89.1M | $840.8M | ||
| Q3 25 | $76.1M | $855.1M | ||
| Q2 25 | $74.5M | $867.6M | ||
| Q1 25 | $77.5M | $909.0M | ||
| Q4 24 | $93.6M | $941.4M | ||
| Q3 24 | $77.5M | $797.5M | ||
| Q2 24 | $98.5M | $797.3M |
| Q1 26 | — | 1.15× | ||
| Q4 25 | 1.90× | 0.99× | ||
| Q3 25 | 1.21× | 0.96× | ||
| Q2 25 | 1.21× | 0.90× | ||
| Q1 25 | 1.16× | 0.93× | ||
| Q4 24 | 1.43× | 0.91× | ||
| Q3 24 | 1.90× | — | ||
| Q2 24 | 1.21× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.8M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.8M | $-14.4M | ||
| Q3 25 | $-7.3M | $-6.2M | ||
| Q2 25 | $935.0K | $-7.6M | ||
| Q1 25 | $2.1M | $-29.0M | ||
| Q4 24 | $-2.1M | $-6.7M | ||
| Q3 24 | $1.2M | $-22.8M | ||
| Q2 24 | $-13.1M | $-19.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-16.1M | ||
| Q3 25 | $-7.3M | $-10.3M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $-31.4M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | $1.2M | $-29.3M | ||
| Q2 24 | — | $-23.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | -27.8% | ||
| Q3 25 | -15.6% | -19.2% | ||
| Q2 25 | — | -26.4% | ||
| Q1 25 | — | -58.0% | ||
| Q4 24 | — | -14.8% | ||
| Q3 24 | 1.9% | -54.3% | ||
| Q2 24 | — | -44.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | 0.0% | 7.8% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | 0.0% | 12.1% | ||
| Q2 24 | — | 7.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLNT
| Commerce Media Solutions | $34.7M | 56% |
| Owned And Operated | $21.3M | 34% |
| Call Solutions | $3.8M | 6% |
| Ad Parlor | $2.0M | 3% |
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
