Marchex Announces Second Quarter 2023 Results

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[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nMarchex, Inc. (NASDAQ: MCHX), the award-winning AI-powered conversation intelligence company that helps businesses turn strategic insights into the actions that drive their most valued sales outcomes, today announced its financial results for the second quarter ended June 30, 2023.\n\n\nQ2 2023 Financial Highlights\n\n\n\nGAAP revenue was $12.5 million for the second quarter of 2023 compared to $13.5 million for the second quarter of 2022.\n\n\n\nNet loss was $2.7 million for the second quarter of 2023 or $0.06 per diluted share compared to a net loss of $1.5 million or $0.03 per diluted share for the second quarter of 2022.\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 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$13.5\n\n\n\n\n\n\nmillion\n\n\n\n\n\n\n \n\n\n\n\n\n\n$12.5\n\n\n\n\n\n\nmillion\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\nAdjusted EBITDA*\n\n\n\n\n\n\n \n\n\n\n\n\n\n$167,000\n\n\n\n\n\n\n \n\n\n\n\n\n\n$(1.0)\n\n\n\n\n\n\nmillion\n\n\n\n\n\n\n\n\n*Adjusted EBITDA includes approximately $500,000 of reorganization costs. Excluding these amounts would result in Adjusted EBITDA totaling ($550,000) dollars.\n\n\n\n\n\n\n\n\nAdjusted non-GAAP income (loss) per share for the second quarter of 2023 was $(0.03) compared to $(0.01) for the second quarter of 2022.\n\n\n\nSecond Quarter Summary:\n\n\n\nNew Customer Traction and Existing Customer Expansion. Marchex saw traction with new enterprise customers across multiple product lines in several verticals, including Home Services, Auto, Auto Services and others.\n\n\n\nConversation Volumes. Overall conversation volumes in the second quarter of 2023 were down on a year-over-year basis, due in part to some customers being impacted by customer churn and pressure from other overall macroeconomic factors. However, volumes within certain verticals, like auto, showed progress when compared to the first quarter of 2023.\n\n\n\nAccelerate Product Innovation.\n\n\nMarchex Wins 2023 Artificial Intelligence Breakthrough Award for “Best AI-Based Solution for Sales.” AI Breakthrough is a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial...

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