Marchex (MCHX) Tops Q1 EPS by 2c, Revenues Beat
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Marchex (NASDAQ: MCHX) reported Q1 EPS of ($0.08), $0.02 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $13 million versus the consensus estimate of $12.1 million.
Q1 2021 Financial Highlights1
- GAAP revenue was $13.0 million for the first quarter of 2021, compared to $12.0 million for the first quarter of 2020.
- Net loss from continuing operations was $5.3 million for the first quarter of 2021 or $0.12 per diluted share, compared to a net loss of $25.5 million or $0.54 per diluted share for the first quarter of 2020.
“In the first quarter, Marchex saw some early benefits from our increased organizational clarity and focus,” said Russell Horowitz, Executive Chairman and Co-CEO. “From continued product progress to early success adding new customers and growing existing ones, Marchex is just beginning to capitalize on the tremendous opportunity in conversational analytics and AI-driven sales engagement solutions. We anticipate continued progress across all of our key initiatives throughout 2021, including new product innovation, growing sales with new and existing customers, and expanded strategic industry partnerships.”
The following forward-looking statements reflect Marchex's expectations as of May 13, 2021.
“During the first quarter of 2021, we saw positive developments in the key drivers of our business, including increases in existing customer conversation volumes and also important sales pipeline development. We are seeing this progress extend into the second quarter and assuming these trends continue, and there is an unwinding of the business impact from the pandemic, we believe second quarter revenue growth rates can sequentially accelerate from those achieved in the first quarter. We also continue to believe we can achieve double-digit growth in the course of 2021, and that we can deliver progressive, sequential growth in revenue, profitability and customer wins. As we launch new products and they begin to contribute, we continue to believe there is a potential path to reach break-even or better on an Adjusted EBITDA basis at some point during 2021,” said Leila Kirske, CFO.
For earnings history and earnings-related data on Marchex (MCHX) click here.
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