Marchex Announces Third Quarter 2021 Results

About this update from Marchex, Inc.

[{"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 third quarter ended September 30, 2021.\n\nQ3 2021 Financial Highlights\n\n\nGAAP revenue was $13.7 million for the third quarter of 2021, compared to $13.8 million for the third quarter of 2020.\n\n\nQ3 2021 Core analytics and solutions revenue was $13.7 million as compared to $12.9 million for the third quarter of 2020, which excludes the benefit of recognizing $776,000 of revenue that was reserved at the end of the 2020 second quarter during the pandemic given they did not meet recognition criteria under our revenue recognition policies at such time. Including this amount, core analytics and solutions revenue for the third quarter of 2020 was $13.6 million,\n\n\nNet income from continuing operations was $3.3 million for the third quarter of 2021 or $0.07 per diluted share, compared to a net loss of $5.1 million or $0.11 per diluted share for the third quarter of 2020.\n\n\n\n\n \n\n\n\n \n\n\n\nQ3 2020\n\n\n\n \n\n\n\nQ3 2021\n\n\n\n\n\nGAAP Revenue\n\n\n\n \n\n\n\n$13.8 million\n\n\n\n \n\n\n\n$13.7 million\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\nAdjusted EBITDA from continuing operations\n\n\n\n \n\n\n\n($3.3) million\n\n\n\n \n\n\n\nBreak Even\n\n\n\n\n\nAdjusted non-GAAP income (loss) per share from continuing operations for the third quarter of 2021 was ($0.01) compared to ($0.06) for the third quarter of 2020.\n\n\nStrategic Priorities and Growth Initiatives\n\n\nCustomer Traction. In the third quarter of 2021, Marchex signed an extension and renewal with one of its largest OEM auto customers through December 2022, including the ability to further extend the contract through 2025 with a multi-year framework based upon continued execution. Additionally, Marchex also expanded its relationship with two additional OEM auto customers, which will extend these relationships over the course of 2022 and beyond. Further, the company saw continued momentum with new enterprise customers across multiple product lines in auto, home services, health care and other verticals.\n\n\n\nCompany Achieves Profitability Target Ahead of ...

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