Marchex Files Q3 2024 10-Q

TL;DR

Marchex Q3 10-Q filed. Financials out.

AI Summary

Marchex Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter of 2024, detailing revenues, expenses, and other financial metrics. Specific dollar amounts and dates related to their operations and financial position are included within the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Marchex, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the specific financial health and operational details within the 10-Q could indicate varying levels of risk.

Key Numbers

• Q3 — Quarter (Reporting period)
• 2024 — Year (Reporting period)

Key Players & Entities

• MARCHEX INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241101 (date) — Filing Date
• SEATTLE (location) — Business Address City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

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

Filing Documents

• mchx-20240930.htm (10-Q) — 1877KB
• mchx-ex31_1.htm (EX-31.1) — 13KB
• mchx-ex31_2.htm (EX-31.2) — 15KB
• mchx-ex32.htm (EX-32) — 16KB
• 0000950170-24-120081.txt ( ) — 8127KB
• mchx-20240930.xsd (EX-101.SCH) — 977KB
• mchx-20240930_htm.xml (XML) — 1762KB

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 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 12,078 $ 14,607 Accounts receivable, net 7,760 7,394 Prepaid expenses and other current assets 1,971 1,805 Total current assets 21,809 23,806 Property and equipment, net 2,067 2,398 Other assets, net 1,213 1,482 Right-of-use lease assets 1,277 1,631 Goodwill 17,558 17,558 Intangible assets from acquisitions, net 151 602 Total assets $ 44,075 $ 47,477 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,200 $ 1,533 Accrued benefits and payroll 2,641 3,294 Other accrued expenses and current liabilities 3,465 3,217 Deferred revenue and deposits 859 1,214 Operating lease liability, current 499 462 Total current liabilities 8,664 9,720 Deferred tax liabilities 289 249 Finance lease liability, non-current 170 421 Operating lease liability, non-current 837 1,217 Total liabilities $ 9,960 $ 11,607 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 September 30, 2024 and December 31, 2023 49 49 Class B: 125,000 shares authorized; 39,021 shares issued and outstanding at September 30, 2024, including 365 shares of restricted stock; and 38,661 shares issued and outstanding at December 31, 2023, including 720 shares of restricted stock 390 386 Additional paid-in capital 357,944 356,666 Accumulated deficit ( 324,268 ) ( 321,231 ) Total stockholders' equity 34,115 35,870 Total liabilities and stockholders' equity $ 44,075 $ 47,477 See accompanying Notes to the Conden