Marchex Announces Second Quarter 2024 Results

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 drive operational excellence and revenue acceleration, today announced its financial results for the second quarter ended June 30, 2024.\n\n\nQ2 2024 Financial Highlights\n\n\n\nGAAP revenue was $12.1 million for the second quarter of 2024, compared to $12.5 million for the second quarter of 2023.\n\n\n\nNet loss was $0.8 million for the second quarter of 2024 or $0.02 per diluted share, compared to a net loss of $2.7 million or $0.06 per diluted share for the second quarter of 2023.\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2024\n\n\n\n\n\n\n\n\nGAAP Revenue\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 12.5 million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 12.1 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\nAdjusted EBITDA\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ (1.0) million\n\n\n\n\n\n\n \n\n\n\n\n\n\n$ 0.3 million\n\n\n\n\n\n\n\n\nAdjusted non-GAAP loss per share for the second quarter of 2024 was ($0.01) compared to ($0.03) for the second quarter of 2023.\n\n\n\nRecent Business Highlights:\n\n\n\nNew Customer Traction and Existing Customer Expansion. During the quarter, the company made progress in adding relationships in the Auto and Auto Services verticals as well as in expanding existing relationships in the Home Services vertical. The company continues to make progress expanding its pipeline of opportunities across multiple verticals.\n\n\n\nConversation Volumes. Overall conversation volumes in the second quarter were up somewhat from first quarter of 2024 levels.\n\n\n\nProduct Innovation. Marchex recently announced that it has won two additional industry awards: The AI Breakthrough Award for \"Best Text Generative AI Solution\" and the APPEALIE SaaS Customer Success award. The company continues to be recognized for its innovation with its Call Summaries and Sentiment Suite offering and its commitment to customer success.\n\n\n\n“Our business is making significant progress across the key initiatives that we believe will enable Marchex to become an industry leading prescriptive analytics company,\" said Edwin Miller, CEO. “From the strides we are making with our OneStack initiative to the continued development of our sales ...

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