Marchex Announces Third Quarter 2020 Results

About this update from Marchex, Inc.

[{"type":"text","content":" 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 third quarter ended September 30, 2020.\n\nQ3 2020 Financial Highlights\n\n\nRevenue was $26.5 million for the third quarter of 2020, compared to $24.8 million for the third quarter of 2019.\n\n\nCore analytics and solutions revenue was $13.6 million for the third quarter of 2020, which included the benefit of recognizing $776,000 of revenues that were reserved at the end of the second quarter given they did not meet recognition criteria under our revenue recognition policies at such time. Excluding this amount, core analytics and solutions revenue for the third quarter of 2020 was $12.9 million, compared to $13.5 million for the third quarter of 2019.\n\n\nNet loss was $3.7 million for the third quarter of 2020 or $0.08 per diluted share. For the third quarter of 2019, net loss was $1.2 million or $0.03 per diluted share.\n\n\n\n\n \n\n\n\n \n\n\n\nQ3 2019\n\n\n\n \n\n\n\nQ3 2020\n\n\n\n\n\nRevenue\n\n\n\n \n\n\n\n$24.8 million\n\n\n\n \n\n\n\n$26.5 million\n\n\n\n\n\nNet cash provided by (used in) operating activities\n\n\n\n \n\n\n\n$1.9 million\n\n\n\n \n\n\n\n($1.9) million\n\n\n\n\n\nCash balance\n\n\n\n \n\n\n\n$52.5 million\n\n\n\n \n\n\n\n$44.6 million\n\n\n\n\n\nCash balance (net of current debt obligations)\n\n\n\n \n\n\n\n$52.5 million\n\n\n\n \n\n\n\n$39.3 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($1.3) million\n\n\n\n\n\nAdjusted non-GAAP income (loss) per share1 for the third quarter of 2020 was ($0.03), compared to $0.01 for the third quarter of 2019.\n\n\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\nStrategic Priorities Update\n\nCompletion of tender offer. In October 2020, in a separate press release and Form 8-K filed with the Securities and Exchange Commission (the “SEC”), Marchex announced the completion of its joint and equal tender offer with Edenbrook Capital, LLC for the purchase of 10 million sha...

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