Marin Software (NYSE: MRIN) reported Q1 EPS of ($1.59). Revenue for the quarter came in at $15.4 million versus the consensus estimate of $28 million.

First Quarter 2018 Financial Updates:

• Net revenues totaled $15.4 million, a year-over-year decrease of 24%, when compared to $20.3 million in the first quarter of 2017.
• GAAP loss from operations was ($9.1) million, resulting in a GAAP operating margin of (59%), compared to a GAAP loss from operations of ($6.0) million and a GAAP operating margin of (29%) for the first quarter of 2017. Non-GAAP loss from operations was ($6.0) million, resulting in a non-GAAP operating margin of (39%), as compared to a non-GAAP loss from operations of ($3.2) million and a non-GAAP operating margin of (16%) for the first quarter of 2017.
• Cash, cash equivalents and restricted cash totaled $23.3 million as of March 31, 2018, as compared to $28.8 million as of December 31, 2017.
• During January 2018, initiated an organizational restructuring plan designed to reduce operating expenses and better align the Company\'s efforts to return to growth. This restructuring plan is expected to result in annualized cost savings of $6.0 million to $7.0 million going forward. In connection, the Company incurred $0.9 million in restructuring related expenses during the first quarter of 2018, consisting primarily of employee severance costs.

For earnings history and earnings-related data on Marin Software (MRIN) click here.