Marchex Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Marchex Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and operational data.</b>

AI Summary

MARCHEX INC (MCHX) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Marchex Inc. filed its quarterly report (10-Q) on May 14, 2024, for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is in Seattle, WA. Marchex Inc. is incorporated in Delaware. The filing includes data related to various financial statement line items and disclosures, such as customer contracts, common stock, and restricted stock.

Why It Matters

For investors and stakeholders tracking MARCHEX INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Marchex Inc., crucial for understanding the company's performance in the first quarter of 2024. The detailed disclosures within the report offer insights into Marchex's financial health, asset management, and contractual obligations, which are key factors for investment decisions.

Risk Assessment

Risk Level: low — MARCHEX INC shows low risk based on this filing. The filing is a standard 10-Q report, indicating routine disclosure of financial information rather than an event-driven filing that might signal higher risk.

Analyst Insight

Monitor future filings for revenue growth, profitability trends, and any changes in debt levels or operational expenses.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-14 — Filing Date (FILED AS OF DATE)
• 7389 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• DE — State of Incorporation (STATE OF INCORPORATION)
• 1231 — Fiscal Year End (FISCAL YEAR END)
• 000-50658 — SEC File Number (SEC FILE NUMBER)
• 24945022 — Film Number (FILM NUMBER)

Key Players & Entities

• MARCHEX INC (company) — FILER
• 0000950170-24-059658 (other) — ACCESSION NUMBER
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240514 (date) — FILED AS OF DATE
• SEATTLE (location) — CITY
• WA (location) — STATE
• 206-331-3300 (phone) — BUSINESS PHONE
• MCHX (ticker) — ticker symbol

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.01 — hich registered Class B Common Stock, $0.01 par value per share MCHX The NASDAQ

Filing Documents

• mchx-20240331.htm (10-Q) — 1252KB
• mchx-ex31_1.htm (EX-31.1) — 12KB
• mchx-ex31_2.htm (EX-31.2) — 14KB
• mchx-ex32.htm (EX-32) — 15KB
• 0000950170-24-059658.txt (&nbsp;) — 6072KB
• mchx-20240331.xsd (EX-101.SCH) — 946KB
• mchx-20240331_htm.xml (XML) — 1070KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 23 PART II. OTHER INFORMATION 24 Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39 Signature 40 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements MARCHEX, INC. AND SUBSIDIARIES Condensed Consolida ted Balance Sheets (in thousands) (unaudited) December 31, March 31, 2023 2024 Assets Current assets: Cash and cash equivalents $ 14,607 $ 12,032 Accounts receivable, net 7,394 8,145 Prepaid expenses and other current assets 1,805 2,298 Total current assets 23,806 22,475 Property and equipment, net 2,398 2,093 Other assets, net 1,482 1,489 Right-of-use lease asset 1,631 1,515 Goodwill 17,558 17,558 Intangible assets from acquisitions, net 602 452 Total assets $ 47,477 $ 45,582 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,533 $ 1,455 Accrued benefits and payroll 3,294 1,566 Other accrued expenses and current liabilities 3,217 3,608 Deferred revenue and deposits 1,214 1,916 Lease liability current 462 472 Total current liabilities 9,720 9,017 Deferred tax liabilities 249 276 Finance lease, non-current 421 340 Lease liability, non-current 1,217 1,096 Total liabilities $ 11,607 $ 10,729 Commitments and contingencies - See Note 10 Stockholders' equity: Common stock, $ 0.01 par value. Authorized 137,500 shares Class A: 12,500 shares authorized; 4,661 shares issued and outstanding at December 31, 2023 and March 31, 2024 49 49 Class B: 125,000 shares authorized; 38,661 shares issued and outstanding at December 31, 2023 including 720 shares of restricted stock; and 39,017 shares issued and outstanding at March 31, 2024, including 615 shares of restricted stock 386 389 Additional paid-in capital 356,666 357,096 Accumulated deficit ( 321,231 ) ( 322,681 ) Total stockholders' equity 35,870 34,853 Total liabilities and stockholders' equity $ 47,477 $ 45,582 See accompanying Notes to the Condensed Consolidated Financial Statements.