StockNews.AI
MCHX
StockNews.AI
202 days

Marchex Announces Third Quarter 2024 Results

1. Q3 2024 revenue totaled $12.6 million, slightly down from $12.8 million last year. 2. Net loss improved to $0.8 million from $1.5 million year-on-year. 3. Continued growth in Auto and Healthcare customer verticals is noted. 4. Product innovations include AI solutions to boost sales and marketing efficiency. 5. Q4 2024 revenue expected to decline due to seasonal call volume decreases.

163 mins saved
Full Article

FAQ

Why Neutral?

The slight decrease in revenue and net loss improvement suggests stability but no significant upside. Past examples show similar quarterly performance often leads to muted market reactions.

How important is it?

The article provides both financial results and strategic direction, which are crucial for investors. However, the results indicate stability rather than growth, reducing its overall impact.

Why Short Term?

The immediate effect of quarterly results typically influences MCHX's stock price in the short term. Long-term impacts depend on the success of ongoing initiatives and profitability improvements.

Related Companies

MCHX

Marchex Announces Third Quarter 2024 Results

SEATTLE--()--Marchex, 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 third quarter ended September 30, 2024.

Q3 2024 Financial Highlights

  • GAAP revenue was $12.6 million for the third quarter of 2024, compared to $12.8 million for the third quarter of 2023.
  • Net loss was $0.8 million for the third quarter of 2024 or $0.02 per diluted share, compared to a net loss of $1.5 million or $0.04 per diluted share for the third quarter of 2023.
GAAP Revenue Q3 2024 Q3 2023
$ 12.6 million $ 12.8 million
Adjusted EBITDA
$ 0.3 million
  • Adjusted non-GAAP loss per share for the third quarter of 2024 was ($0.01) compared to ($0.01) for the third quarter of 2023.

Recent Business Highlights:

  • New Customer Traction and Existing Customer Expansion. The company has continued to make progress in growing the Auto and Auto Services verticals, as well as adding relationships in the Home Services and Healthcare verticals. The company also continues to make progress expanding its pipeline of opportunities and accelerating product cross-selling to existing and new customers across multiple verticals.
  • Product Innovation. Marchex recently announced the phased rollout of its vertical-specific advanced AI solutions tailored for automotive OEMs and dealers, home services, medical, dental, and automotive services, beginning in the fourth quarter.
  • DealerOn Partnership. During the quarter, the Company announced its partnership with DealerOn, a leading automotive marketing technology company.

“As we position Marchex for future growth, we are utilizing the power of our vast direct first-party conversational data," said Edwin Miller, CEO.

Business Outlook

  • Revenue is anticipated to be in the range of $12.0 million.
  • Adjusted EBITDA is anticipated to be a loss in the range of $(0.4) million.

Management will hold a conference call, starting at 5:00 p.m. ET on Thursday, October 31, 2024​, to discuss its third quarter 2024 financial results.

Contacts

For further information, contact:
Trevor Caldwell
Marchex Investor Relations
Telephone: 206.331.3600
Email: ir@marchex.com

Or

MEDIA INQUIRIES
Marchex Corporate Communications
Telephone: 206.331.3434
Email: pr@marchex.com

Related News