Marchex Announces Third Quarter 2018 Results
Marchex, Inc. (NASDAQ:MCHX), a leading provider of call analytics that drive, measure, and convert callers into customers, today
announced its financial results for the third quarter ended September 30, 2018.
Q3 2018 Financial Highlights
- Revenue was $20.0 million for the third quarter of 2018, compared to $22.1 million for the
third quarter of 2017.
- Net loss was $0.5 million for the third quarter of 2018 or $0.01 per diluted share. For the third
quarter of 2017, net loss was $0.8 million or $0.02 per diluted share.
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Q3 2017 |
|
Q3 2018 |
Revenue |
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$22.1 million |
|
$20.0 million |
Net cash provided by operating activities |
|
|
$2.3 million |
|
$2.3 million |
Cash Balance |
|
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$104 million |
|
$79 million |
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Non-GAAP Results1: |
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Adjusted EBITDA |
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$1.1 million |
|
$0.5 million |
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- Adjusted non-GAAP loss per share1 for the third quarter of 2018 was ($0.00), compared
to $0.00 for the third quarter of 2017.
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1
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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.
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Strategic Priorities Update
Grow New and Existing Enterprise Client Relationships. During the third quarter, Marchex added more than 5 new clients in
multiple verticals, including Auto and Financial Services.
Continued Growth in Call Volume. During the third quarter, Marchex set a new monthly record with more than 23 million
calls across its analytics platform. While seasonal call volume is typically slower late in the year, Marchex is also seeing
building momentum among new and existing customers. Based on this progress, the Company believes call volumes can continue to grow
in 2019.
Accelerate Product Innovation. Marchex recently launched the Marchex Innovation Development (MIND) Lab, a new research
and development group, to support product innovation and help businesses engage and nurture customer relationships across
communications channels, including voice and text. The MIND Lab will incubate new technologies and products utilizing Marchex’s
continuing investment in artificial intelligence, speech technology, personalization customer solutions and conversational
analytics. Marchex has appointed Dr. Junmei Zhong, a pioneer in artificial intelligence (AI) and natural language processing (NLP),
as the Company’s Chief AI Scientist.
Expanded Call Analytics Leadership with the addition of Telmetrics. Marchex today announced the acquisition of
Telmetrics, an enterprise call and text tracking and analytics company. With the addition of Telmetrics, Marchex is expanding its
enterprise client and data footprint as well as adding new capabilities to expand its solutions across new customer communication
channels. Amortization of intangible assets from acquisition will impact GAAP results. For the remainder of 2018 and for 2019, we
expect the acquisition to be accretive to Adjusted OIBA.
Telmetrics 2018 Financial Summary. On a standalone basis, Telmetrics is projecting $10 million or
more in total revenue, including $8.5 million or more in core analytics revenue and approximately $0.7 million of operating income
for 2018. Non-core and other analytics revenue includes revenue from tests, consulting services, or other non-core analytics
revenue that may continue for a limited time but is not anticipated to continue in future periods.
“In the third quarter, we saw growth with several recently signed conversation analytics relationships, while we continued to
build our customer pipeline and add new analytics relationships,” said Mike Arends, Chief Financial Officer. “We continue to see
early traction, particularly with those customers who are adopting solutions created from or integrated with our speech technology.
With the addition of Telmetrics and as our call volume levels continue to grow, the underlying conversational data set that drives
our AI efforts is also expanding, which fuels future product development initiatives and opens up new growth opportunities for
Marchex.”
Business Outlook
The following forward-looking statements reflects the Company’s current outlook as of November 5, 2018.
- For the fourth quarter, the Company anticipates the continuation of double digit percentage
year-over-year growth in Marchex’s core analytics revenue, and that this trend will continue into the first quarter of 2019 as
well. For a breakout of Marchex’s historical core analytics revenue, please refer to the financial tables included in this press
release.
- For the fourth quarter, the Company expects to see stabilization in Marchex’s marketplace revenue as
compared to the third quarter.
- For the partial fourth quarter, Telmetrics is anticipated to contribute $1.25 million in core
analytics revenue and $0.2 million to Adjusted OIBA.
Financial Guidance (including Telmetrics) for the Fourth Quarter ending December 31,
2018
Total Revenue |
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$22 million or more |
Income (loss) from operations |
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loss of ($1.1) million or better |
Adjusted OIBA1,2 |
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$0.2 million or more |
Adjusted EBITDA1,2 |
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$0.8 million or more |
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2
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Fourth quarter GAAP income (loss) from operations is expected to be ($1.1) million or better,
assuming stock-based compensation between $0.9 and $1.1 million for the quarter. Fourth quarter includes estimated addbacks
of $1.0 million related to depreciation and amortization and Telmetrics amortization of intangible assets from
acquisition.
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- In 2019, the Company believes Telmetrics will contribute $8.5 million or more in core analytics
revenue and $1 million or more in Adjusted OIBA. In 2020, the Company anticipates realization of potential increased annualized
cost synergies of an incremental $1 million or more.
Conference Call and Webcast Information
Management will hold a conference call, starting at 5:00 p.m. ET on Monday, November 5, 2018, to discuss its third quarter ended
September 30, 2018 financial results and other company updates. Access to the live webcast of the conference call will be available
online from the Investors section of Marchex’s website at
www.marchex.com. An archived version of the webcast will also be available at the same location two hours after completion of
the call.
About Marchex
Marchex understands the best customers are those who call your company - they convert faster, buy more, and churn less. Marchex
provides solutions that help companies drive more calls, understand what happens on those calls, and convert more of those callers
into customers. Our actionable intelligence strengthens the connection between companies and their customers, bridging the physical
and digital world, to help brands maximize their marketing investments and operating efficiencies to acquire the best
customers.
Please visit http://www.marchex.com, www.marchex.com/blog or @marchex
on Twitter (Twitter.com/Marchex), where Marchex discloses material information from time to time about the company, its
financial information, and its business.
Forward-Looking Statements:
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release regarding our strategy, future operations, future financial
position, future revenues, other financial guidance, acquisitions, dispositions, projected costs, prospects, plans and objectives
of management are forward-looking statements. We may not actually achieve the plans, intentions, or expectations disclosed in our
forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events
could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are
a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such
forward-looking statements including but not limited to product demand, order cancellations and delays, competition and general
economic conditions. These factors are described in greater detail in the "Risk Factors" section of our most recent periodic report
and registration statement filed with the SEC. All of the information provided in this release is as of November 5, 2018 and
Marchex undertakes no duty to update the information provided herein.
In the event the press release contains links to third party websites or materials, the links are provided solely as a
convenience to you. Marchex is not responsible for the content of linked third-party sites or materials and does not make any
representations regarding the content or accuracy thereof.
Non-GAAP Financial Information:
To supplement Marchex's consolidated financial statements presented in accordance with GAAP and to provide clarity internally
and externally, Marchex uses certain non-GAAP measures of financial performance and liquidity, including Adjusted OIBA, Adjusted
EBITDA, and Adjusted non-GAAP income (loss) per share. Marchex also provides Enterprise Revenue, which represents revenue excluding
Yellowpages.com LLC (“YP”) revenue generating contracts and, subsequent to Dex Media, Inc.’s acquisition of YP (collectively
“DexYP”), DexYP revenue generating contracts.
Adjusted OIBA represents income (loss) from operations excluding stock-based compensation
expense, amortization of intangible assets from acquisition, and acquisition related costs. This measure, among other things, is
one of the primary metrics by which Marchex evaluates the performance of its business. Adjusted OIBA is the basis on which
Marchex's internal budgets are based and by which Marchex's management is currently evaluated. Marchex believes these measures are
useful to investors because they represent Marchex's consolidated operating results, taking into account depreciation and other
intangible amortization, which Marchex believes is an ongoing cost of doing business, but excluding the effects of certain other
expenses such as stock-based compensation, amortization of intangible assets from acquisition, and acquisition related
costs. Adjusted EBITDA represents income (loss) before interest, income taxes,
depreciation, amortization, acquisition related costs, and stock-based compensation. Marchex believes that Adjusted EBITDA is
another alternative measure of liquidity to GAAP net cash provided by (used in) operating activities that provides meaningful
supplemental information regarding liquidity and is used by Marchex's management to measure its ability to fund operations and its
financing obligations. Financial analysts and investors may use Adjusted OIBA and EBITDA and Enterprise Revenue to help with
comparative financial evaluation to make informed investment decisions. Adjusted non-GAAP income
(loss) per share represents Adjusted non-GAAP income (loss) divided by GAAP diluted shares outstanding. Adjusted
non-GAAP income (loss) generally captures those items on the statement of operations that have been, or ultimately will be, settled
in cash exclusive of certain items that are not indicative of Marchex’s recurring core operating results and represents net income
(loss) applicable to common stockholders plus the net of tax effects of: (1) stock-based compensation; (2) interest income and
other, net, (3) amortization of intangible assets from acquisition; and (4) acquisition related costs. Financial analysts and
investors may use Adjusted non-GAAP income (loss) per share to analyze Marchex's financial performance since these groups have
historically used EPS related measures, along with other measures, to estimate the value of a company, to make informed investment
decisions, and to evaluate a company's operating performance compared to that of other companies in its industry.
Marchex's management believes that investors should have access to, and Marchex is obligated to provide, the same set of tools
that management uses in analyzing the company's results. These non-GAAP measures should be considered in addition to results
prepared in accordance with GAAP, and should not be considered in isolation, as a substitute for, or superior to, GAAP results.
Marchex’s non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar
titled terms used by other companies, and accordingly, care should be exercised in understanding how Marchex defines its non-GAAP
financial measures in this release. Marchex endeavors to compensate for the limitations of the non-GAAP measures presented by
providing the comparable GAAP measure with equal or greater prominence, GAAP financial statements, and detailed descriptions of the
reconciling items and adjustments, including quantifying such items, to derive the non-GAAP measure.
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MARCHEX, INC. AND SUBSIDIARIES |
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Condensed Consolidated Statements of Operations |
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(in thousands, except per share amounts) |
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(unaudited) |
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Three Months Ended
September 30,
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Nine Months Ended
September 30,
|
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2017 |
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2018 |
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2017 |
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2018 |
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Revenue |
|
$ |
22,053 |
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|
$ |
20,006 |
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$ |
68,444 |
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|
$ |
62,120 |
|
Expenses: |
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Service costs (1) |
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11,917 |
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|
10,877 |
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37,690 |
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35,084 |
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Sales and marketing (1) |
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3,612 |
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|
3,330 |
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12,075 |
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10,275 |
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Product development (1) |
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4,256 |
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3,861 |
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|
13,809 |
|
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|
11,382 |
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General and administrative (1) |
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3,144 |
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|
2,570 |
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|
10,568 |
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|
|
8,083 |
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Acquisition related costs |
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|
— |
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|
110 |
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|
— |
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|
110 |
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Total operating expenses |
|
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22,929 |
|
|
|
20,748 |
|
|
|
74,142 |
|
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|
64,934 |
|
Loss from operations |
|
|
(876 |
) |
|
|
(742 |
) |
|
|
(5,698 |
) |
|
|
(2,814 |
) |
Interest income and other, net |
|
|
77 |
|
|
|
296 |
|
|
|
134 |
|
|
|
805 |
|
Loss before provision for income taxes |
|
|
(799 |
) |
|
|
(446 |
) |
|
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(5,564 |
) |
|
|
(2,009 |
) |
Income tax expense |
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12 |
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|
11 |
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37 |
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32 |
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Net loss applicable to common stockholders |
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$ |
(811 |
) |
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$ |
(457 |
) |
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$ |
(5,601 |
) |
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$ |
(2,041 |
) |
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Basic and diluted net loss per Class A and Class B share applicable
to common stockholders
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$ |
(0.02 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.05 |
) |
Shares used to calculate basic net loss per share applicable to
common stockholders:
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Class A |
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5,056 |
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|
5,056 |
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|
5,056 |
|
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|
5,056 |
|
Class B |
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37,820 |
|
|
|
36,127 |
|
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|
37,565 |
|
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|
37,243 |
|
Shares used to calculate diluted net loss per share applicable
to common stockholders:
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Class A |
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5,056 |
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|
5,056 |
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|
5,056 |
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|
5,056 |
|
Class B |
|
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42,876 |
|
|
|
41,183 |
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|
|
42,621 |
|
|
|
42,299 |
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(1) Includes stock-based compensation allocated as follows: |
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|
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|
|
|
|
|
|
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|
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Service costs |
|
$ |
130 |
|
|
$ |
108 |
|
|
$ |
385 |
|
|
$ |
338 |
|
Sales and marketing |
|
|
299 |
|
|
|
125 |
|
|
|
768 |
|
|
|
411 |
|
Product development |
|
|
199 |
|
|
|
94 |
|
|
|
497 |
|
|
|
276 |
|
General and administrative |
|
|
534 |
|
|
|
375 |
|
|
|
1,850 |
|
|
|
1,310 |
|
Total |
|
$ |
1,162 |
|
|
$ |
702 |
|
|
$ |
3,500 |
|
|
$ |
2,335 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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MARCHEX, INC. AND SUBSIDIARIES |
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Condensed Consolidated Balance Sheets |
|
(in thousands) |
|
(unaudited) |
|
|
|
|
|
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|
|
|
|
December 31, |
|
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September 30, |
|
|
|
2017 |
|
|
2018 |
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
104,190 |
|
|
$ |
78,605 |
|
Accounts receivable, net |
|
|
14,860 |
|
|
|
13,646 |
|
Prepaid expenses and other current assets |
|
|
2,041 |
|
|
|
2,322 |
|
Total current assets |
|
|
121,091 |
|
|
|
94,573 |
|
Property and equipment, net |
|
|
2,405 |
|
|
|
2,797 |
|
Other assets, net |
|
|
326 |
|
|
|
919 |
|
Total assets |
|
$ |
123,822 |
|
|
$ |
98,289 |
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
4,928 |
|
|
$ |
5,258 |
|
Accrued expenses and other current liabilities |
|
|
5,585 |
|
|
|
5,804 |
|
Deferred revenue and deposits |
|
|
313 |
|
|
|
1,165 |
|
Dividends payable |
|
|
21,907 |
|
|
|
— |
|
Total current liabilities |
|
|
32,733 |
|
|
|
12,227 |
|
Other non-current liabilities |
|
|
1,090 |
|
|
|
1,155 |
|
Total liabilities |
|
|
33,823 |
|
|
|
13,382 |
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
Class A common stock |
|
|
53 |
|
|
|
53 |
|
Class B common stock |
|
|
387 |
|
|
|
368 |
|
Additional paid-in capital |
|
|
343,268 |
|
|
|
340,047 |
|
Accumulated deficit |
|
|
(253,709 |
) |
|
|
(255,561 |
) |
Total stockholders’ equity |
|
|
89,999 |
|
|
|
84,907 |
|
Total liabilities and stockholders’ equity |
|
$ |
123,822 |
|
|
$ |
98,289 |
|
|
|
|
|
|
|
|
|
|
|
|
MARCHEX, INC. AND SUBSIDIARIES |
|
(in thousands) |
|
(unaudited) |
|
|
|
Reconciliation of GAAP Loss from Operations to Adjusted Operating
Income (Loss) Before Amortization (OIBA) |
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
Loss from operations |
|
|
$ |
(876 |
) |
|
$ |
(742 |
) |
|
$ |
(5,698 |
) |
|
$ |
(2,814 |
) |
Stock-based compensation |
|
|
|
1,162 |
|
|
|
702 |
|
|
|
3,500 |
|
|
|
2,335 |
|
Acquisition related costs |
|
|
|
— |
|
|
|
110 |
|
|
|
— |
|
|
|
110 |
|
Adjusted OIBA1 |
|
|
$ |
286 |
|
|
$ |
70 |
|
|
$ |
(2,198 |
) |
|
$ |
(369 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation from Net Cash provided by Operating Activities to Adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
Net cash provided by operating activities |
|
|
$ |
2,316 |
|
|
$ |
2,325 |
|
|
$ |
1,692 |
|
|
$ |
4,062 |
|
Changes in assets and liabilities |
|
|
|
(1,178 |
) |
|
|
(1,655 |
) |
|
|
(1,528 |
) |
|
|
(2,409 |
) |
Income tax expense |
|
|
|
12 |
|
|
|
11 |
|
|
|
37 |
|
|
|
32 |
|
Acquisition related costs |
|
|
|
— |
|
|
|
110 |
|
|
|
— |
|
|
|
110 |
|
Interest income and other, net |
|
|
|
(77 |
) |
|
|
(296 |
) |
|
|
(134 |
) |
|
|
(805 |
) |
Adjusted EBITDA1 |
|
|
$ |
1,073 |
|
|
$ |
495 |
|
|
$ |
67 |
|
|
$ |
990 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
|
$ |
(377 |
) |
|
$ |
(545 |
) |
|
$ |
(1,289 |
) |
|
$ |
(2,156 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities |
|
|
$ |
9 |
|
|
$ |
22 |
|
|
$ |
24 |
|
|
$ |
(27,491 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
Includes reorganization costs of approximately $700,000 in Q1 2017.
|
|
Revenue Reconciliations
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
2018 |
Revenue |
|
|
$ |
22,053 |
|
|
$ |
20,006 |
|
|
$ |
68,444 |
|
|
$ |
62,120 |
Less: YP or DexYP Revenue |
|
|
|
4,584 |
|
|
|
5,100 |
|
|
|
14,816 |
|
|
|
13,483 |
Enterprise Revenue2 |
|
|
$ |
17,469 |
|
|
$ |
14,906 |
|
|
$ |
53,628 |
|
|
$ |
48,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
Enterprise Revenue represents total revenue less revenue generated from contracts with YP, and for
the 2018 period, total revenue less revenue generated from contracts with YP and Dex Media, Inc. (collectively “DexYP”). In
2017, Dex Media, Inc. acquired YP Holdings LLC, which is the parent company of YP.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q117 |
|
|
Q217 |
|
|
Q317 |
|
|
Q417 |
|
|
Q118 |
|
|
Q218 |
|
|
Q318 |
Core Analytics revenue3 |
|
|
$ |
7,079 |
|
|
$ |
7,353 |
|
|
$ |
7,589 |
|
|
$ |
7,384 |
|
|
$ |
7,401 |
|
|
$ |
8,234 |
|
|
$ |
8,896 |
Marketplace, Local Leads, and other analytics4 |
|
|
|
17,296 |
|
|
|
14,663 |
|
|
|
14,464 |
|
|
|
14,463 |
|
|
|
14,495 |
|
|
|
11,984 |
|
|
|
11,110 |
Total revenue |
|
|
$ |
24,375 |
|
|
$ |
22,016 |
|
|
$ |
22,053 |
|
|
$ |
21,847 |
|
|
$ |
21,896 |
|
|
$ |
20,218 |
|
|
$ |
20,006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
Core analytics revenue includes revenue from analytics customers, including those that are
purchasing or buying products derived from the company’s speech technology platform.
|
4
|
|
|
Includes revenue from marketplace, local leads and from tests, consulting services or other
analytics revenues that may continue for a limited time but is not anticipated to continue in future periods.
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|
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|
|
|
|
|
|
MARCHEX, INC. AND SUBSIDIARIES |
|
|
|
Reconciliation of GAAP Net Loss per Share to Adjusted Non-GAAP Income
(Loss) per Share |
|
(in thousands, except per share amounts) |
|
(unaudited) |
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
|
Nine Months Ended
September 30,
|
|
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
Adjusted Non-GAAP income (loss) per share |
|
$ |
0.00 |
|
|
$ |
(0.00 |
) |
|
$ |
(0.04 |
) |
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share applicable to common stockholders - diluted
(GAAP loss per share)
|
|
$ |
(0.02 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.13 |
) |
|
$ |
(0.05 |
) |
Shares used to calculate diluted net loss per share applicable to
common stockholders
|
|
|
42,876 |
|
|
|
41,183 |
|
|
|
42,621 |
|
|
|
42,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss applicable to common stockholders |
|
$ |
(811 |
) |
|
$ |
(457 |
) |
|
$ |
(5,601 |
) |
|
$ |
(2,041 |
) |
Stock-based compensation |
|
|
1,162 |
|
|
|
702 |
|
|
|
3,500 |
|
|
|
2,335 |
|
Acquisition related costs |
|
|
— |
|
|
|
110 |
|
|
|
— |
|
|
|
110 |
|
Interest income and other, net |
|
|
(77 |
) |
|
|
(296 |
) |
|
|
(134 |
) |
|
|
(805 |
) |
Estimated impact of income taxes |
|
|
(104 |
) |
|
|
(192 |
) |
|
|
725 |
|
|
|
(119 |
) |
Adjusted Non-GAAP income (loss) |
|
$ |
170 |
|
|
$ |
(133 |
) |
|
$ |
(1,510 |
) |
|
$ |
(520 |
) |
Adjusted Non-GAAP income (loss) per share |
|
$ |
0.00 |
|
|
$ |
(0.00 |
) |
|
$ |
(0.04 |
) |
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used to calculate diluted net loss per share applicable to
common stockholders (GAAP) and Adjusted Non-GAAP income (loss) per share1
|
|
|
42,876 |
|
|
|
41,183 |
|
|
|
42,621 |
|
|
|
42,299 |
|
Weighted average stock options and common shares subject to
purchase or cancellation (if applicable)
|
|
|
186 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Diluted shares used to calculate Adjusted Non-GAAP income (loss) per share
1 |
|
|
43,062 |
|
|
|
41,183 |
|
|
|
42,621 |
|
|
|
42,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
For the purpose of computing the number of diluted shares for Adjusted Non-GAAP income (loss) per
share, Marchex uses the accounting guidance that would be applicable for computing the number of diluted shares for GAAP net
income (loss) per share.
|
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20181105005904r1&sid=mstr3&distro=nx&lang=en)
Marchex Investor Relations
Trevor Caldwell, 206-331-3600
Email: ir(at)marchex.com
Or
MEDIA INQUIRIES
Marchex Corporate Communications
206-331-3434
Email: pr(at)marchex.com
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