Marchex Files Q2 2024 10-Q

TL;DR

Marchex Q2 10-Q is in. Check financials.

AI Summary

Marchex Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures relevant to investors are presented, including revenue, expenses, and balance sheet information.

Why It Matters

This filing provides investors with the official financial results and disclosures for Marchex Inc. for the second quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Numbers

• Q2 — Quarter (Reporting period is the second quarter of 2024.)
• 2024-06-30 — End Date (The filing covers financial data up to June 30, 2024.)
• 2023-12-31 — Previous Year End (Reference point for comparative financial data.)

Key Players & Entities

• MARCHEX INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240813 (date) — Filed as of Date
• SEATTLE (location) — Business Address City
• 206-331-3300 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• mchx-20240630.htm (10-Q) — 1708KB
• mchx-ex31_1.htm (EX-31.1) — 13KB
• mchx-ex31_2.htm (EX-31.2) — 14KB
• mchx-ex32.htm (EX-32) — 15KB
• 0000950170-24-096238.txt ( ) — 7325KB
• mchx-20240630.xsd (EX-101.SCH) — 959KB
• mchx-20240630_htm.xml (XML) — 1459KB

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 23 Item 4.

Controls and Procedures

Controls and Procedures 24 PART II. OTHER INFORMATION 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40 Signature 41 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, June 30, 2023 2024 Assets Current assets: Cash and cash equivalents $ 14,607 $ 11,977 Accounts receivable, net 7,394 7,636 Prepaid expenses and other current assets 1,805 2,874 Total current assets 23,806 22,487 Property and equipment, net 2,398 1,861 Other assets, net 1,482 1,900 Right-of-use lease asset 1,631 1,397 Goodwill 17,558 17,558 Intangible assets from acquisitions, net 602 301 Total assets $ 47,477 $ 45,504 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,533 $ 1,921 Accrued benefits and payroll 3,294 2,138 Other accrued expenses and current liabilities 3,217 3,454 Deferred revenue and deposits 1,214 1,470 Lease liability current 462 486 Total current liabilities 9,720 9,469 Deferred tax liabilities 249 278 Finance lease, non-current 421 256 Lease liability, non-current 1,217 967 Total liabilities $ 11,607 $ 10,970 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 June 30, 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 39,021 shares issued and outstanding at June 30, 2024, including 615 shares of restricted stock 386 389 Additional paid-in capital 356,666 357,533 Accumulated deficit ( 321,231 ) ( 323,437 ) Total stockholders' equity 35,870 34,534 Total liabilities and stockholders' equity $ 47,477 $ 45,504 See accompanying Notes to the Condensed Consolidated Financial Statements. 1 T