Marchex Announces First Quarter 2020 Results

About this update from Marchex, Inc.

[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nMarchex, Inc. (NASDAQ:MCHX), a leading conversational analytics and solutions company that connects the voice of the customer to your business, today announced its financial results for the first quarter ended March 31, 2020.\n\n\nQ1 2020 Financial Highlights \n\n\n\nRevenue was $24.8 million for the first quarter of 2020, compared to $26.4 million for the first quarter of 2019.\n\n\nCore analytics and solutions revenue was $11.8 million for the first quarter of 2020, compared to $12.8 million for the first quarter of 2019.\n\n\nNet loss was $24.9 million for the first quarter of 2020 or $0.53 per diluted share, which include the effect of estimated pre-tax $20.1 million, or $0.43 per diluted share1, non-cash impairment charges based on the preliminary results of the company’s goodwill and intangible asset impairment tests. Excluding the impact of the impairments, net loss was $4.8 million1 or $0.10 per diluted share1 for the first quarter of 2020. For the first quarter of 2019, net loss was $1.3 million or $0.03 per diluted share.\n\n\n\n\n\n \n\n\n\n \n\n\n\nQ1 2019\n\n\n\n \n\n\n\nQ1 2020\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$26.4 million\n\n\n\n \n\n\n\n$24.8 million\n\n\n\n\n\nNet cash provided by (used in) operating activities\n\n\n\n \n\n\n\n$5.6 million\n\n\n\n \n\n\n\n($1.7) million\n\n\n\n\n\nCash Balance\n\n\n\n \n\n\n\n$50.9 million\n\n\n\n \n\n\n\n$40.3 million\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNon-GAAP Results1:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n \n\n\n\n$1.2 million\n\n\n\n \n\n\n\n($2.9) million\n\n\n\n\n\n\nAdjusted non-GAAP income (loss) per share1 for the first quarter of 2020 was ($0.06), compared to $0.01 for the first quarter of 2019.\n\n\n\n\n\n1\n\n\n\nReconciliations of non-GAAP measures are included in the financial tables attached to this press release and we encourage investors to examine the reconciling adjustments between the GAAP and non-GAAP measures.\n\n\n\n\n\nCovid-19 Pandemic Impact \n\n\nThe rapid spread of coronavirus (COVID-19) globally has resulted in the disruption and shutdown of businesses as well as increased travel restrictions. These events have had a severe impact on the company’s call analytics and solutions volumes, which started declining meaningfully in March and by the end of March were dow...

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