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Marchex Announces Fourth Quarter and Full Year 2023 Results
SEATTLE--(BUSINESS WIRE)-- Marchex, Inc. (NASDAQ: MCHX), which harnesses the power of AI and conversational intelligence to provide actionable insights
About this update from Marchex, Inc.
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nMarchex, Inc. (NASDAQ: MCHX), which 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, today announced its financial results for the fourth quarter and full year ended December 31, 2023.\n\n\nQ4 2023 and Full Year 2023 Financial Highlights\n\n\n\nGAAP revenue was $12.4 million for the fourth quarter of 2023, compared to $12.3 million for the fourth quarter of 2022.\n\n\n\nNet loss was $1.1 million for the fourth quarter of 2023 or $(0.02) per diluted share, compared to a net loss of $3.6 million or $(0.08) per diluted share for the fourth quarter of 2022. Net loss was $9.9 million for 2023 or $(0.23) per diluted share, compared to a net loss of $8.2 million or $(0.19) per diluted share for 2022.\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ4 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY 2023\n\n\n\n\n\n\n\n\nGAAP Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 12.3 million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 12.4 million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 52.2 million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 49.9 million\n\n\n\n\n\n\n\n\nNon-GAAP Results:\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\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\n\n \n\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ (1.7) million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 0.1 million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ (1.4) million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ (3.4) million *\n\n\n\n\n\n\n\n\n\n*\n\n\n\n\n\n\n \n\n\n\n\n\n\nAdjusted EBITDA for full year 2023 includes approximately $1,620,000 of reorganization costs. Excluding these amounts would result in Adjusted EBITDA for full year 2023 totaling $(1,780,000).\n\n\n\n\n\n\n\n\nAdjusted non-GAAP loss per share for the fourth quarter of 2023 was $0.00 compared to ($0.05) for the fourth quarter of 2022. Adjusted non-GAAP loss per share for 2023 was $(0.12) compared to $(0.08) for 2022.\n\n\n\nFourth Quarter Summary:\n\n\n\nNew Customer Traction and Existing Customer Expansion. During the fourth quarter, Marchex signed new customers across multiple verticals including automotive, home services and health care. In addition, the company saw continued traction by signing up mo...