Core Insights - MarketWise, Inc. reported a decline in paid subscribers and total net revenue for Q3 2024 compared to the same period in 2023, with paid subscribers decreasing from 774 thousand to 592 thousand and total net revenue dropping from $106.2 million to $97.2 million [2][4][5] - Despite the revenue decline, the company achieved a net income of $22.7 million in Q3 2024, up from $12.0 million in Q3 2023, indicating improved profitability [2][4][5] - The company is optimistic about future growth, citing an increase in October billings to approximately $19 million, suggesting potential recovery after several quarters of decline [3][4] Financial Performance - Total net revenue for the nine months ended September 30, 2024, was $311.2 million, a decrease of 7% compared to the same period in the prior year [4] - Total billings for the same period were $183.7 million, reflecting a significant decrease of 36.4% year-over-year [4] - The net income for the nine months ended September 30, 2024, was $66.7 million, an increase of 27% compared to the previous year [4] Subscriber Metrics - The number of paid subscribers decreased to 592 thousand as of September 30, 2024, down from 774 thousand a year earlier [2][5] - Average revenue per user (ARPU) for Q3 2024 was $417, down from $496 in Q3 2023 [6] Cash Flow and Capital Structure - As of September 30, 2024, the company had cash and cash equivalents of $94.1 million, a decrease from $155.2 million at the end of 2023 [7][25] - The company reported net cash used in operating activities of $28.1 million for the nine months ended September 30, 2024, compared to net cash provided of $44.9 million in the same period of the previous year [4][27] Strategic Outlook - The interim CEO emphasized ongoing efforts to optimize business operations, improve revenue and margins, and advance strategic priorities for growth [3] - The company plans to continue launching new brands and enhancing its product pipeline, which is expected to contribute to future revenue growth [3]

Subscriber Metrics - Paid Subscribers decreased to 592 thousand as of September 30, 2024, down 182 thousand or 23.5% from 774 thousand as of September 30, 2023[95] - Free Subscribers decreased by 1.0 million, or 6.4%, to 15.3 million as of September 30, 2024, compared to 16.3 million at the same date in 2023[107] - Active Free Subscribers decreased by 0.7 million, or 17.5%, to 3.3 million as of September 30, 2024, compared to 4.0 million as of September 30, 2023[107] - Total Paid Subscribers decreased by 182 thousand, or 23.5%, to 592 thousand as of September 30, 2024, compared to 774 thousand at the same date in 2023[110] - The high-value composition rate was 52% of Paid Subscribers as of September 30, 2024[100] Financial Performance - Total net revenue for Q3 2024 was $97.2 million, a decrease of 8.4% compared to $106.2 million in Q3 2023[95] - Net income increased to $22.7 million in Q3 2024, compared to $12.0 million in Q3 2023[95] - For the nine months ended September 30, 2024, net revenue was $311,223, a decrease of 7.4% from $336,027 in the same period of 2023[136] - The net income for the nine months ended September 30, 2024, was $66.7 million, up from $52.4 million in the same period of 2023[159] Revenue and Billings - Total Billings in Q3 2024 were $48.9 million, down 48.8% from $95.5 million in Q3 2023[95] - New Marketing Billings were $32.3 million in Q3 2024, down 56.1% from $73.7 million in Q3 2023[105] - Net Renewal Billings were $15.7 million in Q3 2024, a decrease of 24.2% from $20.8 million in Q3 2023[105] - The decrease in net revenue was primarily driven by a $7.7 million decrease in term subscription revenue and a $1.0 million decrease in membership subscription revenue[129] - Total Billings decreased by $46.6 million, or 48.8%, to $48.9 million for the third quarter 2024, compared to $95.5 million for the third quarter 2023[112] Expenses and Cost Management - Total operating expenses for the three months ended September 30, 2024, were $75,284, down 20.8% from $95,108 in the same period of 2023[131] - Sales and marketing expenses decreased by 30.2% to $36,644, primarily due to a reduction in marketing spend and workforce[133] - Total operating expenses for the nine months ended September 30, 2024, were $246,432, down 13.7% from $285,458 in the same period of 2023[139] - Cost of revenue for the nine months ended September 30, 2024, decreased by 9.3% to $39,649, primarily due to a reduction in credit card fees and salaries[140] Cash Flow and Financing - Cash and cash equivalents stood at $94.1 million as of September 30, 2024[95] - The company reported a cash float of approximately $119.9 million as of September 30, 2024, compared to $120.5 million at the end of 2023[151] - For the nine months ended September 30, 2024, net cash used in operating activities was $28.1 million, a decrease from $44.9 million provided in the same period of 2023[159] - Net cash used in financing activities increased to $32.1 million for the nine months ended September 30, 2024, from $7.8 million in the same period of 2023[163] Management and Organizational Changes - The company appointed Dr. David Eifrig as Interim CEO in August 2024, with founder Porter Stansberry remaining on the Board[95] - The company plans to discontinue reporting Free Subscribers and will only report Active Free Subscribers starting from the first quarter of 2025[107] - The company incurred separation costs of approximately $1.3 million and $2.3 million for the three and nine months ended September 30, 2024, respectively, due to the Legacy Reorganization[154] - The annualized compensation cost savings associated with terminated employees from the Legacy Reorganization is estimated at $16.1 million[154] Other Financial Metrics - Average Revenue Per User (ARPU) was $417 as of September 30, 2024, a decrease of 15.9% from $496 as of September 30, 2023[100] - Adjusted CFFO for the three months ended September 30, 2024, was $(5,829) thousand, a decrease of 148.4% compared to $12,055 thousand for the same period in 2023[146] - Adjusted CFFO Margin for the three months ended September 30, 2024, was (11.9)%, down from 12.6% in the prior year[149] - Non-cash items in operating activities included stock-based compensation expense of $8.7 million and depreciation and amortization of $2.0 million for the nine months ended September 30, 2024[159]

Company Overview - MarketWise, Inc. is a leading multi-brand digital subscription services platform focused on providing premium financial research, software, education, and tools for self-directed investors [2] - The company has over 25 years of operating history and serves millions of Free and Paid Subscribers [2] - MarketWise aims to become the leading financial solutions platform for self-directed investors [2] Upcoming Financial Results - MarketWise plans to release its third quarter 2024 financial results before the market opens on November 7, 2024 [1] - An earnings press release will be provided alongside the required SEC filings, containing supplemental information [1] - Investors can submit written questions to the company via email [1]

Financial Results - MarketWise, Inc. announced its financial results for Q2 2024, ending June 30, 2024[3] - The letter to shareholders was issued on August 14, 2024[3] Company Classification - The company is classified as an emerging growth company[2] Reporting Details - The report includes a cover page interactive data file embedded within the Inline XBRL document[4] Management - Erik Mickels serves as the Chief Financial Officer of MarketWise, Inc.[5]

get 1 首页 - p / 100 Igor Kutyaev Investment thesis I previously covered MarketWise, Inc. (NASDAQ:MKTW) in April and gave it a Buy recommendation. My bullish arguments were based on the company's capital light and highly profitable business model coupled with its Founder, Porter Stansberry returning as CEO. Subsequently, the company's fundamentals have deteriorated further, but more significantly, Porter has since resigned, as covered by fellow SA Author Daniel Jones. Shares fell nearly 30% yesterday followin ...

BALTIMORE, Aug. 02, 2024 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ: MKTW) ("MarketWise" or "the Company"), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced that its Board of Directors declared a quarterly cash dividend to holders of Class A common stock of $0.01 per share on August 1, 2024. A comparable distribution of $0.01 per unit has also been approved to holders of Market ...

Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's performance and ability to generate cash flow. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "w ...

Core Viewpoint - MarketWise, Inc. has filed its quarterly report for Q1 2024 and a CEO letter to shareholders, highlighting its ongoing commitment to providing premium financial research and tools for self-directed investors [1]. Company Overview - MarketWise is a leading multi-brand digital subscription services platform focused on leveling the playing field for self-directed investors by offering premium financial research, software, education, and tools [2]. - The company has over 20 years of operating history and serves millions of Free and Paid Subscribers, providing trusted financial research and actionable investment ideas [3]. - MarketWise operates as a 100% digital, direct-to-customer company, delivering its research across various platforms including mobile, desktops, and tablets [3]. - The company's vision is to become the leading financial solutions platform for self-directed investors, leveraging its proven, agile, and scalable platform [3].

MarketWise Inc. May 15, 2024 To the Shareholders of MarketWise, Inc.: Ronald Reagan was an optimist. One of his favorite jokes was about a little boy, who, on Christmas morning, came down to discover nothing under the tree but a large pile of manure. His parents were shocked to find him enthusiastically shoveling the manure out from under the tree. The boy, smiling ear to ear, said: "Isn't this great! With all this manure in the house, there's got to be a pony down here somewhere!" I'm an optimist too. Let' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39405 MarketWise, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 87-1767914 (State or other jurisdiction of incorpor ...