Marchex Announces Second Quarter 2020 Results

About this update from Marchex, Inc.

[{"type":"text","content":"\nAnnounces Intent to Divest Media Assets to Focus on the Conversational Analytics and Sales Engagement Solutions Opportunity \n\n SEATTLE--(BUSINESS WIRE)--\nMarchex, Inc. (NASDAQ:MCHX), a leading conversational analytics company that connects the voice of the customer to your business, today announced its financial results for the second quarter ended June 30, 2020.\n\n\nQ2 2020 Financial Highlights \n\n\n\nRevenue was $25.8 million for the second quarter of 2020, compared to $26.3 million for the second quarter of 2019.\n\n\nCore analytics and solutions revenue was $12.5 million for the second quarter of 2020, which included the benefit of $800,000 of second quarter recognized revenues that were reserved at the end of the first quarter. Excluding this amount, core analytics and solutions revenue for the second quarter of 2020 was $11.7 million, compared to $13.4 million for the second quarter of 2019.\n\n\nNet loss was $4.5 million for the second quarter of 2020 or $0.09 per diluted share. For the second quarter of 2019, net loss was $1.1 million or $0.02 per diluted share.\n\n\n\n\n\n \n\n\n\n \n\n\n\nQ2 2019\n\n\n\n \n\n\n\nQ2 2020\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$26.3 million\n\n\n\n \n\n\n\n$25.8 million\n\n\n\n\n\nNet cash provided by (used in) operating activities\n\n\n\n \n\n\n\n($0.7) million\n\n\n\n \n\n\n\n$1.6 million\n\n\n\n\n\nCash balance\n\n\n\n \n\n\n\n$51.0 million\n\n\n\n \n\n\n\n$46.8 million\n\n\n\n\n\nCash balance (net of current debt obligations)\n\n\n\n \n\n\n\n$51.0 million\n\n\n\n \n\n\n\n$41.5 million\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$1.1 million\n\n\n\n \n\n\n\n($2.6) million\n\n\n\n\n\n\nAdjusted non-GAAP income (loss) per share1 for the second quarter of 2020 was ($0.05), compared to $0.01 for the second quarter of 2019.\n\n\n\n\n\n1 Reconciliations 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 continuing spread of COVID-19 globally has resulted in the disruption to and, in some cases, shutdown of businesses. These events have had an impact on the company’s conversation analytics and solutions volumes, which started declining me...

More updates from Marchex, Inc.