Business
MarketWise Reports Financial Results for Second Quarter 2021
~ Second Quarter 2021 Revenue Increase of 71.7% Year-Over-Year ~ ~ Second Quarter Billings Increase of 50.4% Year-Over-Year ~ ~ Paid Subscribers Grew 45.5%
About this update from Marketwise, Inc.
[{"type":"text","content":"~ Second Quarter 2021 Revenue Increase of 71.7% Year-Over-Year ~ ~ Second Quarter Billings Increase of 50.4% Year-Over-Year ~ ~ Paid Subscribers Grew 45.5% Year-Over-Year to 1 Million ~ BALTIMORE, Aug. 12, 2021 (GLOBE NEWSWIRE) -- MarketWise, LLC (NASDAQ: MKTW) (“MarketWise” or the “Company”), formerly known as Beacon Street Group, LLC, a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today reported financial results for the three and six months ended June 30, 2021. Second Quarter 2021 Highlights(1) Total revenue increased by 71.7% to $142.1 million in second quarter 2021 compared to $82.8 million in second quarter 2020Total Billings increased by 50.4% to $185.1 million in second quarter 2021 compared to $123.1 million in second quarter 2020Total net loss was $8.4 million in second quarter 2021 compared to a loss of $81.0 million in second quarter 2020; the net loss this quarter was entirely driven by $47.4 million in stock-based compensation, while stock-based compensation was $78.6 million in second quarter 2020Cash flow from operations (“CFFO”) was $58.9 million in second quarter 2021 compared to $31.6 million in second quarter 2020Adjusted CFFO, a non-GAAP measure, increased by 59.0% to $59.4 million in second quarter 2021 compared to $37.3 million in second quarter 2020Adjusted CFFO margin, a non-GAAP measure, was 32.1% in second quarter 2021 compared to 30.3% in second quarter 2020Deferred revenue increased by 63.7% to $707.5 million in second quarter 2021 compared to $432.2 million in second quarter 2020Paid Subscribers increased by 45.5% to 1.0 million in second quarter 2021 compared to 0.7 million in second quarter 2020Free Subscribers increased by 75.6% to 12.0 million in second quarter 2021 compared to 6.8 million in second quarter 2020 __________________(1) See “Key Business Metrics and Non-GAAP Financial Measures” below. “We are very pleased with our results in the second quarter which was our second best quarter ever in both Billings and Adjusted Cash Flow from Operations. Our business continued to perform well as our subscribers continue to engage with us and explore our research products and software solutions. That resulted in significant growth in our year-over-year results,” said Mark Arnold, Chief...