Marin Software Incorporated (NASDAQ: MRIN), a leading provider of digital marketing software for performance-driven advertisers and agencies, today announced financial results for the first quarter ended March 31, 2021.
“We are thrilled with the increased pace of the innovation this quarter as we move beyond the MarinOne upgrade. Our customers continue to improve the performance of their digital marketing programs using our new forecasting, bidding, Insights and automation tools,” said Chris Lien, Marin Software Chief Executive Officer.
First Quarter 2021 Business and Product Release Highlights:
- Improved the forecasting tools in MarinOne to support forecasting for customizable categories or lines of business, in addition to forecasting for the program as a whole. This gives marketers information to make budget allocation decisions.
- Added support for Google Smart Bidding, including bulk edit support for Target CPA (tCPA) and Target ROAS (tROAS), letting advertisers pick the bidding tools that best meet their needs across Google and Marin.
- Added 13 new Insights to help marketers get the most out of their digital marketing campaigns by helping identify invalid credentials, sync errors, landing page issues, disapproved ads, and much more.
- Upgraded reporting capabilities in MarinOne, including additional cross-client reporting, expanded monthly and daily roll up on history grid, additional pre-set filter options (including quarterly and yearly filters), and support for Last N period, where the user is able to define ‘N’ to be any number of days/weeks/months they need.
- Added the ability to download completed Marin Search reports in MarinOne, in an effort to further streamline user workflows.
- Introduced support for several new types of campaigns and ads, including Discovery Campaigns, Universal App Campaigns, and Showcase Shopping Ads.
- Introduced Social Scheduled Actions to allow marketers to choose when they would like ads to be active or paused. This allows marketers to adjust for seasonality and plan necessary on/off toggles in advance.
- Added several new use cases for Social Rules, including the ability to pause campaigns or ad sets based on performance, the ability to update ad set bids, and campaign budget management. We have also added rules to manage daily and lifetime spend ratios.
- In Marin Social, customers can now use Media Plan parameters to automatically apply dynamic URL macros to their ads.
- Introduced a new MarinOne module that is specifically designed to help users manage eCommerce campaigns.
- Added support for Facebook to our Amazon Attribution solution, making it simple to track the Facebook-influenced impact on Amazon conversions.
- Added support for Amazon Sponsored Display Audiences to help customers drive awareness.
- We now offer a convenient diagnostics dashboard that can be used to keep tabs on Marin Tracker setup.
First Quarter 2021 Financial Updates:
- Net revenues totaled $6.3 million, a year-over-year decrease of 27% when compared to $8.7 million in the first quarter of 2020.
- GAAP loss from operations was ($2.4) million, resulting in a GAAP operating margin of (39%), as compared to a GAAP loss from operations of ($4.4) million and a GAAP operating margin of (51%) for the first quarter of 2020.
- Non-GAAP loss from operations was ($2.5) million, resulting in a non-GAAP operating margin of (40%), as compared to a non-GAAP loss from operations of ($3.5) million and a non-GAAP operating margin of (40%) for the first quarter of 2020.
Reconciliations of GAAP to non-GAAP financial measures have been provided in the financial statement tables included in this press release. An explanation of these measures is also included below, under the heading “Non-GAAP Financial Measures.”