Marchex, Inc. (NASDAQ: MCHX), the award-winning AI-powered conversation intelligence company that helps businesses turn strategic insights into the actions that drive their most valued sales outcomes, today announced its financial results for the first quarter ended March 31, 2022.
Q1 2022 Financial Highlights
- GAAP revenue was $13.2 million for the first quarter of 2022, compared to $13.0 million for the first quarter of 2021.
- First quarter 2022 core analytics and solutions revenue was $13.2 million as compared to the first quarter of 2021 amount of $12.7 million, which excludes the benefit of recognizing $262,000 of revenue that was reserved at the end of the fourth quarter of 2020 during the pandemic given it did not meet recognition criteria at such time. Including this amount, revenue for the first quarter of 2021 was $13.0 million.
- Net loss was $1.6 million for the first quarter of 2022 or $0.04 per diluted share, compared to a net loss of $5.3 million or $0.12 per diluted share for the first quarter of 2021.
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Q1 2021 |
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Q1 2022 |
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GAAP Revenue |
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$13 million |
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$13.2 million |
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Non-GAAP Results: |
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Adjusted EBITDA |
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($3.0) million |
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$151,000 |
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- Adjusted non-GAAP income (loss) per share for the first quarter of 2022 was ($0.01) compared to ($0.08) for the first quarter of 2021.
Strategic Priorities and Growth Initiatives
- New Customer Traction and Existing Customer Expansion. Marchex saw continued momentum with new enterprise customers across multiple product lines in Home Services, Health Care and other verticals. In addition, we continue to see strong long-term growth opportunities in our Auto vertical through the expansion of relationships with Fortune 500 customers.
- Company Maintains Profitability Metrics in the First Quarter. In the first quarter of 2022, Marchex achieved above break-even Adjusted EBITDA in part through continued progress with the Company’s cost initiatives, including its technology and cloud-based infrastructure projects.
- Conversation Volumes. Conversation volume trends were largely flat with the pandemic and seasonally affected fourth quarter of 2021 for much of the first quarter of 2022. Volumes did begin to pick up modestly in March in some of our key verticals.
- Expansion of Market Opportunities.
- Marchex Announces New Integration into Twilio. Marchex recently announced its integration into the Twilio Add-On Marketplace. This integration is designed to bring Marchex’s conversation intelligence capabilities to increase the value of Twilio Audio Recordings. Through this integration, Twilio is empowering developers to easily enable Marchex AI capabilities without costly AI development. The Company announced the first of its add-on conversational capabilities: Marchex Transcription and Outcome. These features allow businesses to automate understanding customer conversations and outcomes, and stop wasting time listening to hours of audio recordings, viewing lengthy transcripts, and sorting through volumes of data trying to figure out consumer intent and phone call outcomes. Through its integrations with Twilio, Marchex is making its conversation intelligence capabilities available to more businesses and unlocking the power of its artificial intelligence by surfacing relevant, actionable insights from phone conversations to help sales, customer engagement and marketing teams solve their real-world business challenges.
- Accelerate Product Innovation.
- Marchex Wins AI Excellence Award for Marchex Conversation Intelligence, powered by Marchex Conversation DNA™. The Business Intelligence Group named Marchex a winner in its second annual Artificial Intelligence Excellence Awards program. The company received the award for Marchex Conversation Intelligence, powered by Marchex Conversation DNA™, AI technology that fundamentally alters and enhances the way businesses can reach and interact with consumers, transforming marketing, sales and customer engagement. Marchex Conversation Intelligence technology unlocks key, relevant insights from voice and text conversations at scale by extracting actionable signals that help marketing, sales and customer engagement teams achieve their business objectives.
“In the first quarter of 2022 and through today, Marchex is continuing to be recognized for our product innovation and meeting the needs of businesses as they seek to leverage the growing capabilities of conversational intelligence,” said Russell Horowitz, Executive Chairman and Co-CEO. “Through focusing on solving mission critical challenges for businesses, Marchex is developing industry leading products and continuing to expand our footprint with industry leading brands and integration partners as they look to leverage conversational intelligence to create better buying experiences and grow their businesses. Throughout the course of 2022, we expect to launch new sales engagement products supported by our award-winning Conversation DNA™ technology, along with new channel partnerships, and that these current initiatives will continue to enhance the magnitude of our opportunity and resulting growth profile.
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