10-Q Filing

MARCHEX INC CIK: 1224133 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-027585`
Period End Date	20210331
Filing Date	20210513
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	mchx-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 39 Cash Flow Statement 57 Stockholders Equity 14

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	137.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	137.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.17M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.33M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.75M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.48M	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$3.36M	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$3.74M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.32M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.34M	USD	Point-in-time
Goodwill	`Goodwill`	$17.56M	USD	Point-in-time
Goodwill	`Goodwill`	$17.56M	USD	Point-in-time
Intangible assets from acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$8.02M	USD	Point-in-time
Intangible assets from acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$9.20M	USD	Point-in-time
Total assets	`Assets`	$70.28M	USD	Point-in-time
Total assets	`Assets`	$76.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.42M	USD	Point-in-time
Accrued benefits and payroll	`AccruedPayrollTaxesCurrent`	$5.14M	USD	Point-in-time
Accrued benefits and payroll	`AccruedPayrollTaxesCurrent`	$5.97M	USD	Point-in-time
Other accrued expenses and current liabilities	`OtherAccruedLiabilitiesCurrent`	$4.21M	USD	Point-in-time
Other accrued expenses and current liabilities	`OtherAccruedLiabilitiesCurrent`	$4.05M	USD	Point-in-time
Deferred revenue and deposits	`ContractWithCustomerLiabilityCurrent`	$1.39M	USD	Point-in-time
Deferred revenue and deposits	`ContractWithCustomerLiabilityCurrent`	$1.31M	USD	Point-in-time
Lease liability current	`OperatingLeaseLiabilityCurrent`	$1.81M	USD	Point-in-time
Lease liability current	`OperatingLeaseLiabilityCurrent`	$1.83M	USD	Point-in-time
Loan obligations, current	`LongTermDebtCurrent`	$5.13M	USD	Point-in-time
Loan obligations, current	`LongTermDebtCurrent`	$5.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.95M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$223.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$156.00K	USD	Point-in-time
Lease liability non-current	`OperatingLeaseLiabilityNoncurrent`	$3.14M	USD	Point-in-time
Lease liability non-current	`OperatingLeaseLiabilityNoncurrent`	$2.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.15M	USD	Point-in-time
Commitments and contingencies - See Note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies - See Note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$350.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$351.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-298.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-304.02M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$52.69M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$99.84M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$76.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$48.13M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$70.28M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$12.98M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$12.01M	USD	1 Quarter
Service costs	`CostOfGoodsAndServicesSold`	$4.83M	USD	1 Quarter
Service costs	`CostOfGoodsAndServicesSold`	$5.42M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.17M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$1.76M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$1.18M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.64M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$5.36M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$5.32M	USD	1 Quarter
Related party support services fee income net of related expenses	`InterestIncomeRelatedParty`	$1.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.45M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$1.76M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$1.18M	USD	1 Quarter
Acquisition and disposition-related costs (benefit)	`BusinessCombinationAcquisitionAndDispositionRelatedCostBenefit`	$-635.00K	USD	1 Quarter
Acquisition and disposition-related costs (benefit)	`BusinessCombinationAcquisitionAndDispositionRelatedCostBenefit`	$45.00K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$18.23M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$18.94M	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$14.69M	USD	1 Quarter
Impairment of intangible assets from acquisitions	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$4.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-26.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.25M	USD	1 Quarter
Interest income (expense) and other, net	`InterestIncomeAndOtherNet`	$110.00K	USD	1 Quarter
Interest income (expense) and other, net	`InterestIncomeAndOtherNet`	$-12.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.47M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.26M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-943.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$73.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-25.52M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-5.33M	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$648.00K	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-24.88M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.33M	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.12	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.54	USD	1 Quarter
Discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	1 Quarter
Basic and diluted net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.53	USD	1 Quarter
Basic and diluted net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss applicable to common shareholders	`ProfitLoss`	$-24.88M	USD	1 Quarter
Net loss applicable to common shareholders	`ProfitLoss`	$-5.33M	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$648.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-25.52M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-5.33M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$1.61M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$2.27M	USD	1 Quarter
Impairment of goodwill	`GoodwillImpairmentLoss`	$14.69M	USD	1 Quarter
Impairment of intangible assets from acquisitions	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$4.96M	USD	1 Quarter
Allowance for doubtful accounts and advertiser credits	`AllowanceForDoubtfulAccountsAndAdvertiserCredits`	$1.16M	USD	1 Quarter
Allowance for doubtful accounts and advertiser credits	`AllowanceForDoubtfulAccountsAndAdvertiserCredits`	$27.00K	USD	1 Quarter
Acquisition-related benefit	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-728.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$744.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.06M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$63.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-800.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$263.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$564.00K	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$394.00K	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$863.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$793.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-675.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.01M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$521.00K	USD	1 Quarter
Deferred revenue and deposits	`IncreaseDecreaseInContractWithCustomerLiabilityAndDeposits`	$-85.00K	USD	1 Quarter
Deferred revenue and deposits	`IncreaseDecreaseInContractWithCustomerLiabilityAndDeposits`	$285.00K	USD	1 Quarter
Net cash (used in) continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.44M	USD	1 Quarter
Net cash (used in) continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.62M	USD	1 Quarter
Net cash provided by discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$730.00K	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.71M	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.62M	USD	1 Quarter
Cash paid for acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-88.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$589.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Purchases of intangible assets and other assets	`PurchasesOfIntangibleAssetsAndOtherAssets`	$4.00K	USD	1 Quarter
Net cash used in continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-505.00K	USD	1 Quarter
Net cash used in continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-100.00K	USD	1 Quarter
Net cash used in discontinued investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-4.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-509.00K	USD	1 Quarter
Proceeds from exercises of stock options, issuance and vesting of restricted stock and employee stock purchase plan, net	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$8.00K	USD	1 Quarter
Proceeds from exercises of stock options, issuance and vesting of restricted stock and employee stock purchase plan, net	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$33.00K	USD	1 Quarter
Net cash provided by continuing financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.00K	USD	1 Quarter
Net cash provided by continuing financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.68M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.21M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$41.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.17M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.85M	USD	Point-in-time
Less: Cash and cash equivalents of discontinued operations at the end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations`	$79.00K	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.44M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$41.73M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$28.17M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.85M	USD	Point-in-time
Cash paid for operating leases	`OperatingLeasePayments`	$301.00K	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$471.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$52.69M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$99.84M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$76.03M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$48.13M	USD	Point-in-time
Issuance of common stock upon exercise of options, issuance and vesting of restricted stock and under employee stock purchase plan, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.00K	USD	1 Quarter
Issuance of common stock upon exercise of options, issuance and vesting of restricted stock and under employee stock purchase plan, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$32.00K	USD	1 Quarter
Stock compensation from options and restricted stock, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$744.00K	USD	1 Quarter
Stock compensation from options and restricted stock, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-24.88M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.33M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$52.69M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$99.84M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$76.03M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$48.13M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.