10-Q Filing

MARCHEX INC CIK: 1224133 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001564590-23-007043`
Period End Date	20230331
Filing Date	20230505
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	mchx-10q_20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 34 Cash Flow Statement 42 Stockholders Equity 15

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`	$15.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.47M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.02M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.89M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.05M	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$738.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$495.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$973.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.12M	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`	$2.59M	USD	Point-in-time
Intangible assets from acquisitions, net	`IntangibleAssetsNetExcludingGoodwill`	$2.06M	USD	Point-in-time
Total assets	`Assets`	$51.91M	USD	Point-in-time
Total assets	`Assets`	$56.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued benefits and payroll	`AccruedPayrollTaxesCurrent`	$3.57M	USD	Point-in-time
Accrued benefits and payroll	`AccruedPayrollTaxesCurrent`	$2.98M	USD	Point-in-time
Other accrued expenses and current liabilities	`OtherAccruedLiabilitiesCurrent`	$4.26M	USD	Point-in-time
Other accrued expenses and current liabilities	`OtherAccruedLiabilitiesCurrent`	$3.83M	USD	Point-in-time
Deferred revenue and deposits	`ContractWithCustomerLiabilityCurrent`	$1.68M	USD	Point-in-time
Deferred revenue and deposits	`ContractWithCustomerLiabilityCurrent`	$1.38M	USD	Point-in-time
Right of use liability, current	`OperatingLeaseLiabilityCurrent`	$189.00K	USD	Point-in-time
Right of use liability, current	`OperatingLeaseLiabilityCurrent`	$1.25M	USD	Point-in-time
Finance lease, current	`FinanceLeaseLiabilityCurrent`	$161.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.61M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$232.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$233.00K	USD	Point-in-time
Finance lease, non-current	`FinanceLeaseLiabilityNoncurrent`	$290.00K	USD	Point-in-time
Right of use liability non-current	`OperatingLeaseLiabilityNoncurrent`	$385.00K	USD	Point-in-time
Right of use liability non-current	`OperatingLeaseLiabilityNoncurrent`	$336.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$11.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.68M	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`	$355.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$355.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-311.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-315.80M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.45M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$47.67M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$51.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$44.11M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$51.91M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$56.79M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$13.17M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$12.22M	USD	1 Quarter
Service costs	`CostOfGoodsAndServicesSold`	$4.93M	USD	1 Quarter
Service costs	`CostOfGoodsAndServicesSold`	$5.42M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$531.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.97M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$531.00K	USD	1 Quarter
Related party support services fee income net of related expenses	`InterestIncomeRelatedParty`	$2.03M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$4.16M	USD	1 Quarter
Related party support services fee income net of related expenses	`InterestIncomeRelatedParty`	$551.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$3.46M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.61M	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$531.00K	USD	1 Quarter
Amortization of intangible assets from acquisitions	`AmortizationOfIntangibleAssets`	$531.00K	USD	1 Quarter
Acquisition and disposition-related costs	`BusinessCombinationAcquisitionAndDispositionRelatedCostBenefit`	$5.00K	USD	1 Quarter
Acquisition and disposition-related costs	`BusinessCombinationAcquisitionAndDispositionRelatedCostBenefit`	$13.00K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$14.70M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$16.72M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.50M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.53M	USD	1 Quarter
Interest income and other, net	`InterestIncomeAndOtherNet`	$-21.00K	USD	1 Quarter
Interest income and other, net	`InterestIncomeAndOtherNet`	$57.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.45M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$30.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$30.00K	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.48M	USD	1 Quarter
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.58M	USD	1 Quarter
Basic net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Basic net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Diluted net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Diluted net loss per Class A and Class B share applicable to common stockholders	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss applicable to common shareholders	`ProfitLoss`	$-1.58M	USD	1 Quarter
Net loss applicable to common shareholders	`ProfitLoss`	$-4.48M	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$983.00K	USD	1 Quarter
Amortization and depreciation	`DepreciationAndAmortization`	$889.00K	USD	1 Quarter
Allowance for doubtful accounts and advertiser credits	`AllowanceForDoubtfulAccountsAndAdvertiserCredits`	$328.00K	USD	1 Quarter
Allowance for doubtful accounts and advertiser credits	`AllowanceForDoubtfulAccountsAndAdvertiserCredits`	$93.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$799.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$695.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$47.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.25M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-255.00K	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$727.00K	USD	1 Quarter
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$42.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$512.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-77.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-995.00K	USD	1 Quarter
Deferred revenue and deposits	`IncreaseDecreaseInContractWithCustomerLiabilityAndDeposits`	$292.00K	USD	1 Quarter
Deferred revenue and deposits	`IncreaseDecreaseInContractWithCustomerLiabilityAndDeposits`	$-331.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.38M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.41M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.14M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$392.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.14M	USD	1 Quarter
Proceeds from exercises of stock options, issuance and vesting of restricted stock and employee stock purchase plan, net	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$9.00K	USD	1 Quarter
Proceeds from exercises of stock options, issuance and vesting of restricted stock and employee stock purchase plan, net	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$16.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.76M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.53M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.47M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.55M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$27.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$15.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$24.55M	USD	Point-in-time
Cash paid for operating leases	`OperatingLeasePayments`	$1.18M	USD	1 Quarter
Cash paid for operating leases	`OperatingLeasePayments`	$498.00K	USD	1 Quarter
Financing lease	`RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability`	$451.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$40.45M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$47.67M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$51.50M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$44.11M	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`	$12.00K	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`	$16.00K	USD	1 Quarter
Retirement of treasury stock	`TreasuryStockRetiredCostMethodAmount`	$1.00K	USD	1 Quarter
Stock compensation from options and restricted stock, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$695.00K	USD	1 Quarter
Stock compensation from options and restricted stock, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$799.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.48M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$40.45M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$47.67M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$51.50M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$44.11M	USD	Point-in-time

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