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• Content META

  Title	Marchex Announces Third Quarter 2024 Results
  ID	4413787
  External ID	7264883723
  Author	Unknown
  Published Date	Oct. 31, 2024, 3:24 p.m.
  Summary	Marchex, Inc. , which harnesses the power of AI and conversational intelligence to drive operational excellence and revenue acceleration, today announced its financial results for the third quarter en
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  URL	https://www.lelezard.com/en/news-21587522.html
  Sentiment	Negative: 0.00867    Neutral: 0.74499    Positive: 0.24634
  Relevance	0.02871

• Content Details

  Content ID	2631262
  Key	0ae0f086-6706-4bab-b836-0bbeff04aca9
  Content	Marchex, Inc. , which harnesses the power of AI and conversational intelligence to drive operational excellence and revenue acceleration, today announced its financial results for the third quarter ended September 30, 2024. Q3 2024 Financial... Marchex, Inc . (NASDAQ: MCHX), which harnesses the power of AI and conversational intelligence to drive operational excellence and revenue acceleration, today announced its financial results for the third quarter ended September 30, 2024. Q3 2024 Financial Highlights Q3 2024 Q3 2023 GAAP Revenue $ 12.6 million $ 12.8 million Non-GAAP Results: Adjusted EBITDA $ 0.3 million $ 0.4 million Recent Business Highlights: "As we position Marchex for future growth, we are utilizing the power of our vast direct first-party conversational data to expand our capabilities while making significant progress across the key initiatives that drive Marchex's future," said Edwin Miller, CEO. "In the third quarter of 2024, we completed important milestones in our foundational infrastructure initiatives and have continued resourcing our key growth opportunities that we believe will power Marchex in 2025 and beyond. We are laser focused on growth initiatives that include product innovation, sales team and channel expansion, and the next phase of our infrastructure initiatives that we believe will enable Marchex to achieve leadership in AI-driven prescriptive analytics. We believe that we are on target to build a much larger company with a compelling growth and profitability profile." Business Outlook The following forward-looking statements reflect Marchex's expectations as of ?October 31, 2024?. For the fourth quarter ending December 31, 2024: Initial fiscal 2025: "In the third quarter, we made significant progress with our OneStack initiatives and in AI-powered product innovations. Additionally, based on current progress, we believe we are very well positioned to drive growth in 2025," said Miller. Management will hold a conference call, starting at 5:00 p.m. ET on Thursday, October 31, 2024?, to discuss its ?third quarter 2024 financial results and other company updates. Access to the live webcast of the conference call will be available online from the Investors section of Marchex's website at www.marchex.com . An archived version of the webcast will also be available at the same location two hours after completion of the call. About Marchex Marchex harnesses the power of AI and conversational intelligence to provide actionable insights aligned with prescriptive vertical market data analytics, driving operational excellence and revenue acceleration. Marchex enables executive, sales, and marketing teams to optimize customer journey experiences across communication channels. Through our prescriptive analytics solutions, we enable the alignment of enterprise strategy, empowering businesses to increase revenue through informed decision-making and strategic execution. Marchex provides conversational intelligence AI-powered solutions for market-leading companies in leading B2B2C vertical markets, including several of the world's most innovative and successful brands. Please visit http://www.marchex.com www.marchex.com/blog or @marchex on X (formally known as Twitter), where Marchex discloses material information from time to time about the company, its financial information, and its business. Forward-Looking Statements: This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, other financial guidance, acquisitions, dispositions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such forward-looking statements including but not limited to product demand, order cancellations and delays, competition and general economic conditions. These factors are described in greater detail in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. All of the information provided in this release is as of ?October 31, 2024,? and Marchex undertakes no duty to update the information provided herein. In the event the press release contains links to third party websites or materials, the links are provided solely as a convenience to you. Marchex is not responsible for the content of linked third-party sites or materials and does not make any representations regarding the content or accuracy thereof. Non-GAAP Financial Information: To supplement Marchex's consolidated financial statements presented in accordance with GAAP and to provide clarity internally and externally, Marchex uses certain non-GAAP measures of financial performance and liquidity, including Adjusted EBITDA, Adjusted OIBA, and Adjusted non-GAAP income (loss) per share. Financial analysts and investors may use Adjusted EBITDA and Adjusted OIBA to help with comparative financial evaluation to make informed investment decisions. Financial analysts and investors may use Adjusted non-GAAP income (loss) per share to analyze Marchex's financial performance since these groups have historically used EPS related measures, along with other measures, to estimate the value of a company, to make informed investment decisions, and to evaluate a company's operating performance compared to that of other companies in its industry. Adjusted EBITDA represents net income (loss) before (1) interest, (2) income taxes, (3) amortization of intangible assets from acquisitions, (4) depreciation and amortization, (5) stock-based compensation expense, and (6) acquisition and disposition-related costs. Adjusted EBITDA is an alternative measure used by our management to understand and evaluate our core operating performance and trends, and management believes it provides meaningful supplemental information regarding the company's liquidity and ability to fund its operations and financing obligations. Adjusted OIBA represents Adjusted EBITDA adjusted for depreciation and amortization. This measure, among other things, is another metric by which Marchex has evaluated the performance of its business, to include being the basis on which Marchex's internal budgets have been based and by which Marchex's management has been evaluated. This measure represents Marchex's consolidated operating results, taking into account depreciation and other intangible amortization, but excluding the effects of certain other expenses removed in arriving at Adjusted EBITDA, as detailed above. Adjusted non-GAAP income (loss) per share represents Adjusted non-GAAP income (loss) divided by GAAP diluted shares outstanding. Adjusted non-GAAP income (loss) generally captures those items on the statement of operations that have been, or ultimately will be, settled in cash exclusive of certain items that are not indicative of Marchex's recurring core operating results and represents net income (loss) applicable to common stockholders plus the net of tax effects of: (1) stock-based compensation expense, (2) acquisition and disposition related costs, (3) amortization of intangible assets from acquisitions, and (4) interest (income) expense and other, net. Marchex's management believes that investors should have access to, and Marchex is obligated to provide, the same set of tools that management uses in analyzing the company's results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, and should not be considered in isolation, as a substitute for, or superior to, GAAP results. Marchex's non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar titled terms used by other companies, and accordingly, care should be exercised in understanding how Marchex defines its non-GAAP financial measures in this release. Marchex endeavors to compensate for the limitations of the non-GAAP measures presented by providing the comparable GAAP measure with equal or greater prominence, GAAP financial statements, and detailed descriptions of the reconciling items and adjustments, including quantifying such items, to derive the non-GAAP measure. MARCHEX, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, Revenue Expenses: Service costs Sales and marketing Product development General and administrative Amortization of intangible assets from acquisitions Acquisition and disposition related costs Total operating expenses Loss from operations Interest income (expense) and other, net Loss before provision for income taxes Income tax expense Net loss applicable to common stockholders Basic and diluted net loss per Class A and Class B share applicable to common stockholders Shares used to calculate basic net loss per share applicable to common stockholders: Class A Class B Shares used to calculate diluted net loss per share applicable to common stockholders: Class A Class B Includes stock-based compensation allocated as follows: Service costs Sales and marketing Product development General and administrative Total MARCHEX, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands) (unaudited) September 30, December 31, Assets Current assets: Cash and cash equivalents Accounts receivable, net Prepaid expenses and other current assets Total current assets Property and equipment, net Other assets, net Right-of-use lease assets Goodwill Intangible assets from acquisitions, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued benefits and payroll Other accrued expenses and current liabilities Deferred revenue and deposits Operating lease liability, current Total current liabilities Deferred tax liabilities Finance lease liability, non-current Operating lease liability, non-current Total liabilities Stockholders' equity: Class A common stock Class B common stock Additional paid-in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity MARCHEX, INC. AND SUBSIDIARIES (in thousands) (unaudited) Reconciliation of GAAP Net Loss to Adjusted EBITDA and Adjusted Operating Income (Loss) Before Amortization (OIBA) Three Months Ended September 30, Nine Months Ended September 30, Net loss applicable to common stockholders Interest (income) expense and other, net Income tax expense Amortization of intangible assets from acquisitions Depreciation and amortization Stock-based compensation Acquisition and disposition-related costs Adjusted EBITDA Depreciation and amortization Adjusted OIBA MARCHEX, INC. AND SUBSIDIARIES (in thousands) (unaudited) Reconciliation of GAAP Net Loss per Share to Adjusted Non-GAAP Loss Three Months Ended September 30, Nine Months Ended September 30, Net loss applicable to common stockholders, diluted Stock-based compensation Acquisition and disposition-related costs Amortization of intangible assets from acquisitions Interest (income) expense and other, net Adjusted non-GAAP loss per share Shares used to calculate diluted net loss per share applicable to common stockholders (GAAP) and Adjusted Non-GAAP loss per share For the purpose of computing the number of diluted shares for Adjusted non-GAAP income (loss) per share, Marchex uses the accounting guidance that would be applicable for computing the number of diluted shares for GAAP net income (loss) per share.
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• Publisher

  Publisher Name	Le Lézard (English)
  Publisher URL	https://www.lelezard.com
  Description	None
  Trust Flow Score	6
  Citation Flow Score	23

• Data Source

  Data Source Name	Quantexa News
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
  Weight	10