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Marchex Reports Third Quarter 2012 Financial Results

Marchex, Inc. (NASDAQ:MCHX) today reported its results for the quarter ended September 30, 2012.

Third Quarter 2012 Consolidated Financial Results:
  • Revenue was $34.8 million for the third quarter of 2012, compared to $39.9 million for the same period of 2011.
  • GAAP net loss applicable to common stockholders was $666,000 for the third quarter of 2012 or $0.02 per diluted share. This compares to GAAP net income applicable to common stockholders of $1.2 million or $0.03 per diluted share for the same period of 2011. The third quarter 2012 results included non-cash stock-based compensation expense of $3.7 million, compared to non-cash stock-based compensation expense of $4.0 million for the same period in 2011.
  • We provide a reconciliation of GAAP diluted EPS to Adjusted Non-GAAP EPS 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. Adjusted non-GAAP EPS for third quarter 2012 was $0.06, compared to $0.09 for the same period in 2011.
  • Adjusted operating income before amortization was $3.9 million for the third quarter of 2012, compared to $5.4 million for the same period of 2011. A reconciliation of non-GAAP adjusted operating income before amortization to GAAP operating income is included in the financial tables attached to this release.
  • Adjusted EBITDA was $4.8 million in the third quarter of 2012, compared to $6.4 million for the same period of 2011. A reconciliation of adjusted EBITDA to GAAP net cash provided by operating activities is included in the financial tables attached to this release.

“During the third quarter, we made significant customer and product progress,” said Russell C. Horowitz, Marchex Chairman and CEO. “Based on momentum in our business, we believe mobile will be an incredibly large market. We also believe mobile can be a transformational advertising medium where ultimate performance is driven through phone calls. We are adding new national and local customers, and our ability to drive high performance for them is leading to increased budget allocations for our mobile and call advertising products.”

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