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Side-by-side financial comparison of Fluent, Inc. (FLNT) and STEM, INC. (STEM). Click either name above to swap in a different company.

Fluent, Inc. is the larger business by last-quarter revenue ($61.8M vs $47.1M, roughly 1.3× STEM, INC.). Fluent, Inc. runs the higher net margin — -6.7% vs -33.9%, a 27.2% gap on every dollar of revenue. On growth, Fluent, Inc. posted the faster year-over-year revenue change (-5.5% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% 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.

StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.

FLNT vs STEM — Head-to-Head

Bigger by revenue
FLNT
FLNT
1.3× larger
FLNT
$61.8M
$47.1M
STEM
Growing faster (revenue YoY)
FLNT
FLNT
+10.1% gap
FLNT
-5.5%
-15.6%
STEM
Higher net margin
FLNT
FLNT
27.2% more per $
FLNT
-6.7%
-33.9%
STEM
Faster 2-yr revenue CAGR
STEM
STEM
Annualised
STEM
36.1%
-3.2%
FLNT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
FLNT
FLNT
STEM
STEM
Revenue
$61.8M
$47.1M
Net Profit
$-4.1M
$-16.0M
Gross Margin
48.9%
Operating Margin
0.3%
-17.7%
Net Margin
-6.7%
-33.9%
Revenue YoY
-5.5%
-15.6%
Net Profit YoY
-20.1%
68.8%
EPS (diluted)
$-0.09
$-4.40

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.

Revenue
FLNT
FLNT
STEM
STEM
Q4 25
$61.8M
$47.1M
Q3 25
$47.0M
$38.2M
Q2 25
$44.7M
$38.4M
Q1 25
$55.2M
$32.5M
Q4 24
$65.4M
$55.8M
Q3 24
$64.5M
$29.3M
Q2 24
$58.7M
$34.0M
Q1 24
$66.0M
$25.5M
Net Profit
FLNT
FLNT
STEM
STEM
Q4 25
$-4.1M
$-16.0M
Q3 25
$-7.6M
$-23.8M
Q2 25
$-7.2M
$202.5M
Q1 25
$-8.3M
$-25.0M
Q4 24
$-3.4M
$-51.1M
Q3 24
$-7.9M
$-148.3M
Q2 24
$-11.6M
$-582.3M
Q1 24
$-6.3M
$-72.3M
Gross Margin
FLNT
FLNT
STEM
STEM
Q4 25
48.9%
Q3 25
35.5%
Q2 25
33.4%
Q1 25
32.4%
Q4 24
-4.4%
Q3 24
21.2%
Q2 24
27.6%
Q1 24
-95.0%
Operating Margin
FLNT
FLNT
STEM
STEM
Q4 25
0.3%
-17.7%
Q3 25
-13.4%
-33.6%
Q2 25
-15.9%
-34.8%
Q1 25
-12.8%
-65.0%
Q4 24
-8.3%
-84.4%
Q3 24
-6.0%
-493.2%
Q2 24
-17.7%
-1705.5%
Q1 24
-6.0%
-267.0%
Net Margin
FLNT
FLNT
STEM
STEM
Q4 25
-6.7%
-33.9%
Q3 25
-16.1%
-62.2%
Q2 25
-16.2%
527.8%
Q1 25
-15.0%
-76.9%
Q4 24
-5.2%
-91.6%
Q3 24
-12.3%
-506.3%
Q2 24
-19.8%
-1712.6%
Q1 24
-9.5%
-283.9%
EPS (diluted)
FLNT
FLNT
STEM
STEM
Q4 25
$-0.09
$-4.40
Q3 25
$-0.27
$-2.84
Q2 25
$-0.30
$-1.79
Q1 25
$-0.39
$-0.15
Q4 24
$-0.12
$-15.29
Q3 24
$-0.48
$-18.24
Q2 24
$-0.75
$-71.81
Q1 24
$-0.45
$-0.46

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FLNT
FLNT
STEM
STEM
Cash + ST InvestmentsLiquidity on hand
$12.9M
$48.9M
Total DebtLower is stronger
$34.6M
Stockholders' EquityBook value
$18.2M
$-249.4M
Total Assets
$89.1M
$308.9M
Debt / EquityLower = less leverage
1.90×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FLNT
FLNT
STEM
STEM
Q4 25
$12.9M
$48.9M
Q3 25
$9.2M
$43.1M
Q2 25
$4.9M
$40.8M
Q1 25
$4.8M
$58.6M
Q4 24
$9.4M
$56.3M
Q3 24
$6.6M
$75.4M
Q2 24
$5.0M
$89.6M
Q1 24
$11.7M
$112.8M
Total Debt
FLNT
FLNT
STEM
STEM
Q4 25
$34.6M
Q3 25
$26.0M
Q2 25
$23.2M
Q1 25
$25.6M
Q4 24
$35.6M
Q3 24
$37.9M
Q2 24
$33.3M
Q1 24
$31.0M
Stockholders' Equity
FLNT
FLNT
STEM
STEM
Q4 25
$18.2M
$-249.4M
Q3 25
$21.6M
$-235.7M
Q2 25
$19.1M
$-214.1M
Q1 25
$22.0M
$-417.5M
Q4 24
$25.0M
$-398.4M
Q3 24
$20.0M
$-344.1M
Q2 24
$27.5M
$-203.2M
Q1 24
$28.7M
$371.6M
Total Assets
FLNT
FLNT
STEM
STEM
Q4 25
$89.1M
$308.9M
Q3 25
$76.1M
$362.6M
Q2 25
$74.5M
$379.2M
Q1 25
$77.5M
$405.1M
Q4 24
$93.6M
$437.4M
Q3 24
$77.5M
$537.8M
Q2 24
$98.5M
$691.5M
Q1 24
$103.6M
$1.3B
Debt / Equity
FLNT
FLNT
STEM
STEM
Q4 25
1.90×
Q3 25
1.21×
Q2 25
1.21×
Q1 25
1.16×
Q4 24
1.43×
Q3 24
1.90×
Q2 24
1.21×
Q1 24
1.08×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FLNT
FLNT
STEM
STEM
Operating Cash FlowLast quarter
$2.8M
$8.2M
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.

Operating Cash Flow
FLNT
FLNT
STEM
STEM
Q4 25
$2.8M
$8.2M
Q3 25
$-7.3M
$11.4M
Q2 25
$935.0K
$-21.3M
Q1 25
$2.1M
$8.5M
Q4 24
$-2.1M
$-14.7M
Q3 24
$1.2M
$-9.4M
Q2 24
$-13.1M
$-11.9M
Q1 24
$-132.0K
$-621.0K
Free Cash Flow
FLNT
FLNT
STEM
STEM
Q4 25
Q3 25
$-7.3M
Q2 25
Q1 25
Q4 24
Q3 24
$1.2M
Q2 24
Q1 24
FCF Margin
FLNT
FLNT
STEM
STEM
Q4 25
Q3 25
-15.6%
Q2 25
Q1 25
Q4 24
Q3 24
1.9%
Q2 24
Q1 24
Capex Intensity
FLNT
FLNT
STEM
STEM
Q4 25
Q3 25
0.0%
Q2 25
Q1 25
Q4 24
Q3 24
0.0%
Q2 24
Q1 24
Cash Conversion
FLNT
FLNT
STEM
STEM
Q4 25
Q3 25
Q2 25
-0.11×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

FLNT
FLNT

Commerce Media Solutions$34.7M56%
Owned And Operated$21.3M34%
Call Solutions$3.8M6%
Ad Parlor$2.0M3%

STEM
STEM

Segment breakdown not available.

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