Marchex (NASDAQ: MCHX) reported Q1 EPS of ($0.53), $0.50 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $24.8 million versus the consensus estimate of $23.31 million.

Q1 2020 Financial Highlights

• Revenue was $24.8 million for the first quarter of 2020, compared to $26.4 million for the first quarter of 2019.
• Core analytics and solutions revenue was $11.8 million for the first quarter of 2020, compared to $12.8 million for the first quarter of 2019.
• Net loss was $24.9 million for the first quarter of 2020 or $0.53 per diluted share, which include the effect of estimated pre-tax $20.1 million, or $0.43 per diluted share1, non-cash impairment charges based on the preliminary results of the company’s goodwill and intangible asset impairment tests. Excluding the impact of the impairments, net loss was $4.8 million1 or $0.10 per diluted share1 for the first quarter of 2020. For the first quarter of 2019, net loss was $1.3 million or $0.03 per diluted share.

“While we work through these current circumstances, we are mindful of our cost structure and our investments in the future. We believe meaningfully in the trend toward AI-infused sales acceleration solutions and our long-term opportunity; however, the current environment and impacts require that we evaluate our fixed and variable cost structure. In several cases, we have already taken action, including delaying hiring as well as looking for cost efficiencies where possible. Additionally, subject to the ongoing risks of the COVID-19 situation and its dynamic nature, we will continue to evaluate strategic options to better position ourselves to achieve our long-term opportunity when things hopefully improve,” said Mike Arends, Co-CEO & Chief Financial Officer.

For earnings history and earnings-related data on Marchex (MCHX) click here.