May 19, 2024

SAN FRANCISCO–(BUSINESS WIRE)–Marin Software Incorporated (NASDAQ: MRIN) (“Marin”, “Marin Software” or the “Company”), a leading provider of digital marketing software for performance-driven advertisers and agencies, today announced financial results for the first quarter ended March 31, 2024.

“Empowering performance marketers to excel demands more than just innovation; it requires a relentless commitment to evolving technologies,” said Chris Lien, Marin Software’s CEO. “At Marin Software, we’re laser-focused on creating the most powerful and adaptable platform, driven by a diverse array of AI capabilities, enabling marketers to work smarter, achieve more, and thrive in an ever-changing landscape.”

First Quarter 2024 Product Highlights:

  • Automated Anomaly Detection: We debuted ChatGPT-powered anomaly detection reports, a part of Marin’s Advanced Analytics, designed to identify and summarize performance outliers. These reports are delivered in a concise, easy-to-understand format via email, enabling marketers to quickly review and address significant deviations in campaign performance.
  • Innovative Marketing Calendar: Our newly launched Marketing Calendar allows users to effectively track and analyze the impact of various events—such as holidays, promotions, and competitor actions—on campaign outcomes. This tool is essential for strategic planning and optimizing marketing efforts to capitalize on these events.
  • Enhanced Marin Scripts Integration: We’ve expanded the capabilities of Marin Scripts by integrating them with Google Sheets and custom reports. This enhancement allows performance marketers to harness the collaborative features of Google’s cloud-based spreadsheets along with Marin’s comprehensive analytics to measure, optimize, and automate campaigns with the latest data available.
  • Scalable Script Upgrades: Marin Scripts now feature upgraded functionalities that enable reports to run across multiple accounts and automatically filter results tailored to specific users. This upgrade is particularly beneficial for agencies and teams managing large-scale operations, simplifying report management and enhancing efficiency.
  • Advanced Budget and Target Automation: Our optimization tools now allow fine-grained control of the posting of budgets and/or targets to ad platforms with Ascend. This feature ensures that budgets are dynamically adjusted to maximize campaign performance without manual intervention.
  • Upgraded Paid Search Capabilities: We have enhanced our core paid search functionality to include support for managing Microsoft Advertising’s new automated bidding strategies, providing a more robust toolset for managing search campaigns budgets and performance.
  • Expanded Advertising Options on Amazon: Marin now supports Amazon Store Spotlight, Sponsored Brand Video, and non-endemic ads, allowing all users to engage with Amazon’s highly active customer base—even those who do not sell directly on the platform.
  • Enhanced Features for Meta Campaigns: We have bolstered our support for Meta’s advanced advertising features, including Outcome-Driven Ad Experiences (ODAX) and dynamic creatives. This enhancement allows marketers to more effectively manage and optimize their social media campaigns through Marin’s cross-channel platform.
  • Automated Data Posting with FTP: Our Auto-post functionality has been expanded to include an FTP option, improving the automation process and making data handling more efficient.
  • Data Sonification in Charts: We have upgraded our data visualization tools to include sonification, enabling users to not only view but also hear data trends in applicable charts, enhancing the data analysis experience.

First Quarter 2024 Notable Client Achievements:

  • Operational Efficiency: Rainmaker Ad Ventures saved over 26 hours of manual work weekly by leveraging Marin’s powerful automation tools.
  • Revenue Growth: A leading Amazon retailer saw a revenue increase of more than 155% through optimized campaign management.

First Quarter 2024 Financial Updates:

  • Net revenues totaled $4.0 million, a year-over-year decrease of 12% when compared to $4.6 million for the first quarter of 2023.
  • GAAP loss from operations was ($2.5) million, resulting in a GAAP operating margin of (63%), as compared to a GAAP loss from operations of ($6.0) million and a GAAP operating margin of (130%) for the first quarter of 2023.
  • Non-GAAP loss from operations was ($2.1) million, resulting in a non-GAAP operating margin of (51%), as compared to a non-GAAP loss from operations of ($5.0) million and a non-GAAP operating margin of (109%) for the first quarter of 2023.
  • Cash and cash equivalents were $9.6 million as of March 31, 2024.

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.”

Financial Outlook:

Marin is providing guidance for its second quarter of 2024 as follows:

Forward-Looking Guidance

In millions

 

 

 

 

 

 

 

 

 

 

Range of Estimate

 

 

 

 

From

 

 

To

 

 

Three Months Ending June 30, 2024

 

 

 

 

 

 

 

Revenues, net

 

$

3.9

 

 

$

4.2

 

 

Non-GAAP loss from operations

 

 

(2.1

)

 

 

(1.8

)

 

Non-GAAP loss from operations excludes the effects of stock-based compensation expense, amortization of internally developed software, impairment of long-lived assets, capitalization of internally developed software, non-recurring costs associated with restructurings, and certain professional fees that the Company has incurred in responding to third-party subpoenas that the Company has received related to governmental investigations of Google and Meta.

Additionally, the Company does not reconcile its forward-looking non-GAAP loss from operations, due to variability between revenues and non-cash items such as stock-based compensation. The GAAP loss from operations includes stock-based compensation expense, which is affected by hiring and retention needs, as well as the future price of Marin’s stock. As a result, a reconciliation of the forward-looking non-GAAP financial measures to the corresponding GAAP measures cannot be made without unreasonable effort.

Quarterly Results Conference Call

Marin Software will host a conference call today at 2:00 PM Pacific Time (5:00 PM Eastern Time) to review the Company’s financial results for the quarter ended March 31, 2024, and its outlook for the future. To access the call, please dial (800) 954-0684 in the United States or (212) 231-2929 internationally with reference to conference ID 13742152. A live webcast of the conference call will be accessible at https://viavid.webcasts.com/starthere.jsp?ei=1639600&tp_key=84848adece. Following the completion of the call through 11:59 p.m. Eastern Time on May 9, 2024, a recorded replay will be available on the Company’s website at http://investor.marinsoftware.com/ and a telephone replay will be available by dialing (844) 512-2921 in the United States or (412) 317-6671 internationally with the recording access code 13742152.

About Marin Software

Marin Software Incorporated’s (NASDAQ: MRIN) mission is to give advertisers the power to drive higher efficiency and transparency in their paid marketing programs that run on the world’s largest publishers. Marin Software provides enterprise marketing software for advertisers and agencies to integrate, align, and amplify their digital advertising spend across the web and mobile devices. Marin Software offers a unified SaaS advertising management platform for search, social, and eCommerce advertising. The Company helps digital marketers convert precise audiences, improve financial performance, and make better decisions. Headquartered in San Francisco with offices worldwide, Marin Software’s technology powers marketing campaigns around the globe. For more information about Marin Software, please visit www.marinsoftware.com.

Non-GAAP Financial Measures

Marin uses certain non-GAAP financial measures in this release. Marin uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating its ongoing operational performance. Marin believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures that Marin uses may differ from measures that other companies may use.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

Non-GAAP expenses, measures and net loss per share. Marin defines non-GAAP sales and marketing, non-GAAP research and development, non-GAAP general and administrative, non-GAAP gross profit, non-GAAP operating loss and non-GAAP net loss as the respective GAAP balances, adjusted for stock-based compensation expense, amortization of internally developed software and intangible assets, capitalization of internally developed software, non-recurring costs associated with restructurings, and certain professional fees that the Company has incurred in responding to third-party subpoenas that the Company has received related to governmental investigations of Google and Meta. Non-GAAP net loss per share is calculated as non-GAAP net loss divided by the weighted average shares outstanding.

Adjusted EBITDA. Marin defines Adjusted EBITDA as net loss, adjusted for stock-based compensation expense, depreciation, amortization of internally developed software and intangible assets, capitalization of internally developed software, benefit from or provision for income taxes, other income, net, non-recurring costs associated with restructurings, and certain professional fees that the Company has incurred in responding to third-party subpoenas that the Company has received related to governmental investigations of Google and Meta. These amounts are often excluded by other companies to help investors understand the operational performance of their business. The Company uses Adjusted EBITDA as a measurement of its operating performance because it assists in comparing the operating performance on a consistent basis by removing the impact of certain non-cash and non-operating items. Adjusted EBITDA reflects an additional way of viewing aspects of the operations that Marin believes, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting its business.

Forward-Looking Statements

This press release contains forward-looking statements including, among other things, statements regarding Marin’s business, impact of investments in product and technology on future operating results, the increasing complexity in marketing, progress on product development efforts, product capabilities, advertiser and customer behavior, and future financial results, including its outlook for the second quarter of 2024. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to, our ability to reduce our expenses or raise additional capital to meet our obligations as a going concern; our ability to successfully implement a restructuring plan that we commenced in July 2023 and the expected costs and savings from the restructuring plan; the amount of digital advertising spend managed by our customers using our products; the extent of customer acceptance, adoption and usage of our MarinOne platform; the productivity of our personnel and other aspects of our business; our ability to maintain or grow sales to new and existing customers; any adverse changes in our relationships with and access to publishers and advertising agencies and strategic business partners, including any adverse changes in our revenue sharing agreement with Google; our ability to retain and attract qualified management, technical and sales and marketing personnel; any delays in the release of updates to our product platform or new features or delays in customer deployment of any such updates or features; competitive factors, including but not limited to pricing pressures, entry of new competitors and new applications; quarterly fluctuations in our operating results due to a number of factors; inability to adequately forecast our future revenues, expenses, Adjusted EBITDA, cash flows or other financial metrics; delays, reductions or slower growth in the amount spent on online and mobile advertising and the development of the market for cloud-based software; progress in our efforts to update our software platform; our ability to maintain or expand sales of our solutions in channels other than search advertising; any slow-down in the search advertising market generally; any shift in customer digital advertising budgets from search to segments in which we are not as deeply penetrated; the development of the market for digital advertising; our ability to provide high-quality technical support to our customers; material defects in our platform including those resulting from any updates we introduce to our platform, service interruptions at our single third-party data center or breaches in our security measures; our ability to develop enhancements to our platform; our ability to protect our intellectual property; our ability to manage risks associated with international operations; the impact of fluctuations in currency exchange rates, particularly an increase in the value of the dollar; near term changes in sales of our software services or spend under management may not be immediately reflected in our results due to our subscription business model; our ability to maintain the listing of our common stock on the Nasdaq; and adverse changes in general economic or market conditions. These forward-looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including our most recent report on Form 10-K, recent reports on Form 10-Q and current reports on Form 8-K, which we may file from time to time, and all of which are available free of charge at the SEC’s website at www.sec.gov. Any of these risks could cause actual results to differ materially from expectations set forth in the forward-looking statements. All forward-looking statements in this press release reflect Marin’s expectations as of May 2, 2024. Marin assumes no obligation to, and expressly disclaims any obligation to update any such forward-looking statements after the date of this release.

 

Marin Software Incorporated

 

 

 

 

Condensed Consolidated Balance Sheets

 

 

 

 

(On a GAAP basis)

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

(Unaudited; in thousands, except par value)

 

2024

 

2023

Assets:

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

9,563

 

 

$

11,363

 

Accounts receivable, net

 

 

3,422

 

 

 

3,864

 

Prepaid expenses and other current assets

 

 

1,386

 

 

 

1,548

 

Total current assets

 

 

14,371

 

 

 

16,775

 

Property and equipment, net

 

 

118

 

 

 

120

 

Right-of-use assets, operating leases

 

 

1,613

 

 

 

1,912

 

Other non-current assets

 

 

504

 

 

 

508

 

Total assets

 

$

16,606

 

 

$

19,315

 

Liabilities and Stockholders’ Equity:

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable

 

$

609

 

 

$

664

 

Accrued expenses and other current liabilities

 

 

1,820

 

 

 

2,099

 

Operating lease liabilities

 

 

1,613

 

 

 

1,518

 

Total current liabilities

 

 

4,042

 

 

 

4,281

 

Operating lease liabilities, non-current

 

 

 

 

 

394

 

Other long-term liabilities

 

 

980

 

 

 

1,001

 

Total liabilities

 

 

5,022

 

 

 

5,676

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

Convertible preferred stock, $0.001 par value

 

 

 

 

 

 

Common stock, $0.001 par value

 

 

3

 

 

 

3

 

Additional paid-in capital

 

 

359,234

 

 

 

358,884

 

Accumulated deficit

 

 

(346,662

)

 

 

(344,251

)

Accumulated other comprehensive loss

 

 

(991

)

 

 

(997

)

Total stockholders’ equity

 

 

11,584

 

 

 

13,639

 

Total liabilities and stockholders’ equity

 

$

16,606

 

 

$

19,315

 

 

 

 

 

 

Marin Software Incorporated

 

 

 

 

Condensed Consolidated Statements of Operations

 

 

 

 

(On a GAAP basis)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

(Unaudited; in thousands, except per share data)

 

2024

 

2023

Revenues, net

 

$

4,031

 

 

$

4,583

 

Cost of revenues

 

 

1,743

 

 

 

3,240

 

Gross profit

 

 

2,288

 

 

 

1,343

 

Operating expenses:

 

 

 

 

Sales and marketing

 

 

1,250

 

 

 

2,025

 

Research and development

 

 

1,881

 

 

 

2,942

 

General and administrative

 

 

1,684

 

 

 

2,336

 

Total operating expenses

 

 

4,815

 

 

 

7,303

 

Loss from operations

 

 

(2,527

)

 

 

(5,960

)

Other income, net

 

 

104

 

 

 

225

 

Loss before income taxes

 

 

(2,423

)

 

 

(5,735

)

Provision for (benefit from) income taxes

 

 

(12

)

 

 

48

 

Net loss

 

$

(2,411

)

 

$

(5,783

)

Net loss per common share, basic and diluted

 

$

(0.80

)

 

$

(2.01

)

Weighted-average shares outstanding, basic and diluted

 

 

3,024

 

 

 

2,873

 

 

 

 

 

 

Marin Software Incorporated

 

 

 

 

Condensed Consolidated Statements of Cash Flows

 

 

 

 

(On a GAAP basis)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

(Unaudited; in thousands)

 

2024

 

2023

Operating activities:

 

 

 

 

Net loss

 

$

(2,411

)

 

$

(5,783

)

Adjustments to reconcile net loss to net cash used in operating activities

 

 

 

 

Depreciation

 

 

2

 

 

 

11

 

Amortization of internally developed software

 

 

 

 

 

419

 

Amortization of right-of-use assets

 

 

371

 

 

 

399

 

Amortization of deferred costs to obtain and fulfill contracts

 

 

87

 

 

 

94

 

Unrealized foreign currency losses

 

 

(1

)

 

 

4

 

Stock-based compensation related to equity awards

 

 

413

 

 

 

1,032

 

Provision for credit losses

 

 

(10

)

 

 

(279

)

Deferred income tax benefits

 

 

3

 

 

 

 

Changes in operating assets and liabilities

 

 

 

 

Accounts receivable

 

 

459

 

 

 

734

 

Prepaid expenses and other assets

 

 

81

 

 

 

232

 

Accounts payable

 

 

(55

)

 

 

194

 

Accrued expenses and other liabilities

 

 

(297

)

 

 

(350

)

Operating lease liabilities

 

 

(371

)

 

 

(399

)

Net cash used in operating activities

 

 

(1,729

)

 

 

(3,692

)

Investing activities:

 

 

 

 

Capitalization of internally developed software

 

 

 

 

 

(579

)

Net cash used in investing activities

 

 

 

 

 

(579

)

Financing activities:

 

 

 

 

Employee taxes paid for withheld shares upon equity award settlement

 

 

(60

)

 

 

(10

)

Proceeds from employee stock purchase plan, net

 

 

 

 

 

18

 

Net cash provided by (used in) financing activities

 

 

(60

)

 

 

8

 

Effect of foreign exchange rate changes on cash and cash equivalents

 

 

(11

)

 

 

22

 

Net decrease in cash and cash equivalents

 

 

(1,800

)

 

 

(4,241

)

Cash and cash equivalents:

 

 

 

 

Beginning of period

 

 

11,363

 

 

 

27,957

 

End of the period

 

$

9,563

 

 

$

23,716

 

 

 

 

 

 

Marin Software Incorporated

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of GAAP to Non-GAAP Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

Year Ended

 

 

 

Three Months

Ended

 

 

Mar 31,

 

 

Jun 30,

 

 

Sep 30

 

 

Dec 31,

 

 

 

Dec 31,

 

 

 

Mar 31,

 

 

(Unaudited; in thousands)

 

2023

 

 

2023

 

 

2023

 

 

2023

 

 

 

2023

 

 

 

2024

 

 

Sales and Marketing (GAAP)

 

$

2,025

 

 

$

1,935

 

 

$

1,482

 

 

$

1,078

 

 

 

$

6,520

 

 

 

$

1,250

 

 

Less Stock-based compensation

 

 

(165

)

 

 

(184

)

 

 

(88

)

 

 

(65

)

 

 

 

(502

)

 

 

 

(64

)

 

Less Restructuring related expenses

 

 

 

 

 

 

 

 

(122

)

 

 

 

 

 

 

(122

)

 

 

 

 

 

Sales and Marketing (Non-GAAP)

 

$

1,860

 

 

$

1,751

 

 

$

1,272

 

 

$

1,013

 

 

 

$

5,896

 

 

 

$

1,186

 

 

Research and Development (GAAP)

 

$

2,942

 

 

$

2,797

 

 

$

2,860

 

 

$

1,636

 

 

 

$

10,235

 

 

 

$

1,881

 

 

Less Stock-based compensation

 

 

(270

)

 

 

(305

)

 

 

(131

)

 

 

(119

)

 

 

 

(825

)

 

 

 

(127

)

 

Less Restructuring related expenses

 

 

 

 

 

 

 

 

(815

)

 

 

(22

)

 

 

 

(837

)

 

 

 

 

 

Plus Capitalization of internally developed software

 

 

579

 

 

 

578

 

 

 

354

 

 

 

296

 

 

 

 

1,807

 

 

 

 

 

 

Research and Development (Non-GAAP)

 

$

3,251

 

 

$

3,070

 

 

$

2,268

 

 

$

1,791

 

 

 

$

10,380

 

 

 

$

1,754

 

 

General and Administrative (GAAP)

 

$

2,336

 

 

$

2,442

 

 

$

2,119

 

 

$

1,974

 

 

 

$

8,871

 

 

 

$

1,684

 

 

Less Stock-based compensation

 

 

(473

)

 

 

(627

)

 

 

(85

)

 

 

(187

)

 

 

 

(1,372

)

 

 

 

(183

)

 

Less Restructuring related expenses

 

 

 

 

 

 

 

 

(189

)

 

 

 

 

 

 

(189

)

 

 

 

 

 

Less Third-party subpoena-related expenses

 

 

(84

)

 

 

(45

)

 

 

(36

)

 

 

(30

)

 

 

 

(195

)

 

 

 

(60

)

 

General and Administrative (Non-GAAP)

 

$

1,779

 

 

$

1,770

 

 

$

1,809

 

 

$

1,757

 

 

 

$

7,115

 

 

 

$

1,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marin Software Incorporated

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of GAAP to Non-GAAP Measures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

Year Ended

 

 

 

Three Months

Ended

 

 

Mar 31,

 

 

Jun 30,

 

 

Sep 30,

 

 

Dec 31,

 

 

 

Dec 31,

 

 

 

Mar 31,

 

 

(Unaudited; in thousands)

 

2023

 

 

2023

 

 

2023

 

 

2023

 

 

 

2023

 

 

 

2024

 

 

Gross Profit (GAAP)

 

$

1,343

 

 

$

1,186

 

 

$

1,351

 

 

$

2,216

 

 

 

$

6,096

 

 

 

$

2,288

 

 

Plus Stock-based compensation

 

 

124

 

 

 

137

 

 

 

5

 

 

 

41

 

 

 

 

307

 

 

 

 

39

 

 

Plus Amortization of internally developed software

 

 

419

 

 

 

426

 

 

 

433

 

 

 

423

 

 

 

 

1,701

 

 

 

 

 

 

Plus Restructuring related expenses

 

 

 

 

 

 

 

 

671

 

 

 

2

 

 

 

 

673

 

 

 

 

 

 

Gross Profit (Non-GAAP)

 

$

1,886

 

 

$

1,749

 

 

$

2,460

 

 

$

2,682

 

 

 

$

8,777

 

 

 

$

2,327

 

 

Operating Loss (GAAP)

 

$

(5,960

)

 

$

(5,988

)

 

$

(5,110

)

 

$

(5,748

)

 

 

$

(22,806

)

 

 

$

(2,527

)

 

Plus Stock-based compensation

 

 

1,032

 

 

 

1,253

 

 

 

309

 

 

 

412

 

 

 

 

3,006

 

 

 

 

413

 

 

Plus Amortization of internally developed software

 

 

419

 

 

 

426

 

 

 

433

 

 

 

423

 

 

 

 

1,701

 

 

 

 

 

 

Plus Restructuring related expenses

 

 

 

 

 

 

 

 

1,797

 

 

 

24

 

 

 

 

1,821

 

 

 

 

 

 

Less Capitalization of internally developed software

 

 

(579

)

 

 

(578

)

 

 

(354

)

 

 

(296

)

 

 

 

(1,807

)

 

 

 

 

 

Plus Third-party subpoena-related expenses

 

 

84

 

 

 

45

 

 

 

36

 

 

 

30

 

 

 

 

195

 

 

 

 

60

 

 

Plus Impairment loss on long-lived assets

 

 

 

 

 

 

 

 

 

 

 

3,276

 

 

 

 

3,276

 

 

 

 

 

 

Operating Loss (Non-GAAP)

 

$

(5,004

)

 

$

(4,842

)

 

$

(2,889

)

 

$

(1,879

)

 

 

$

(14,614

)

 

 

$

(2,054

)

 

Net Loss (GAAP)

 

$

(5,783

)

 

$

(5,917

)

 

$

(4,954

)

 

$

(5,263

)

 

 

$

(21,917

)

 

 

$

(2,411

)

 

Plus Stock-based compensation

 

 

1,032

 

 

 

1,253

 

 

 

309

 

 

 

412

 

 

 

 

3,006

 

 

 

 

413

 

 

Plus Amortization of internally developed software

 

 

419

 

 

 

426

 

 

 

433

 

 

 

423

 

 

 

 

1,701

 

 

 

 

 

 

Plus Restructuring related expenses

 

 

 

 

 

 

 

 

1,797

 

 

 

24

 

 

 

 

1,821

 

 

 

 

 

 

Less Capitalization of internally developed software

 

 

(579

)

 

 

(578

)

 

 

(354

)

 

 

(296

)

 

 

 

(1,807

)

 

 

 

 

 

Plus Third-party subpoena-related expenses

 

 

84

 

 

 

45

 

 

 

36

 

 

 

30

 

 

 

 

195

 

 

 

 

60

 

 

Plus Impairment loss on long-lived assets

 

 

 

 

 

 

 

 

 

 

 

3,276

 

 

 

 

3,276

 

 

 

 

 

 

Net Loss (Non-GAAP)

 

$

(4,827

)

 

$

(4,771

)

 

$

(2,733

)

 

$

(1,394

)

 

 

$

(13,725

)

 

 

$

(1,938

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marin Software Incorporated

 

 

 

 

 

 

 

 

 

 

 

 

 

Calculation of Non-GAAP Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

Year Ended

 

 

 

Three Months Ended

(Unaudited; in thousands, except per share data)

 

Mar 31,

 

 

Jun 30,

 

 

Sep 30,

 

 

Dec 31,

 

 

 

Dec 31,

 

 

 

Mar 31,

 

 

 

 

2023

 

 

2023

 

 

2023

 

 

2023

 

 

 

2023

 

 

 

2024

 

 

Net Loss (Non-GAAP)

 

$

(4,827

)

 

$

(4,771

)

 

$

(2,733

)

 

$

(1,394

)

 

 

$

(13,725

)

 

 

$

(1,938

)

 

Weighted-average shares outstanding, basic and diluted

 

 

2,873

 

 

 

2,902

 

 

 

2,985

 

 

 

3,009

 

 

 

 

2,943

 

 

 

 

3,024

 

 

Non-GAAP net loss per common share, basic and diluted

 

$

(1.68

)

 

$

(1.64

)

 

$

(0.92

)

 

$

(0.46

)

 

 

$

(4.66

)

 

 

$

(0.64

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contacts

Investor Relations, Marin Software
ir@marinsoftware.com

Media Contact
Wesley MacLaggan

Marketing, Marin Software

(415) 399-2580

press@marinsoftware.com

Read full story here

The post Marin Software Announces First Quarter 2024 Financial Results appeared first on Daily Host News.

Marin Software Announces First Quarter 2024 Financial Results first appeared on Web and IT News.

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