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 reported financial results for
third quarter 2024.
Third Quarter 2024
Highlights(1)
- Paid Subscribers were 592 thousand
as of September 30, 2024 compared with 774 thousand as of September
30, 2023
- Total Net Revenue was $97.2 million
in third quarter 2024 compared with $106.2 million in third quarter
2023
- Total Billings was $48.9 million in
third quarter 2024 compared with $95.5 million in third quarter
2023
- Net Income was $22.7 million in
third quarter 2024 compared with $12.0 million in third quarter
2023
- Cash and Cash Equivalents were $94.1
million as of September 30, 2024
(1) See “Key Business Metrics and Non-GAAP Financial
Measures” below. For a reconciliation of Adjusted CFFO and Adjusted
CFFO margin, see “Non-GAAP Measures” below.
Dr. David “Doc” Eifrig, Interim Chief Executive Officer,
commented, “I have been around this Company for two decades and
have seen many business cycles and changes along the way. One thing
that has remained constant is our commitment to providing
high-quality independent research that empowers our customers. My
deepest gratitude goes to the more than 400 employees dedicated to
the experience of our subscribers. During my first 90 days, I have
focused on evaluating the culture, capabilities, products, and
processes at our Company. And while not yet evident in our Q3
financial results, I feel confident we are making progress.”
Eifrig continued, “During the third quarter, we began to
optimize parts of our business, which we believe will improve
revenue and margins going forward. Further, we believe our new
brand launches coupled with a strong product pipeline in Q4 will
result in an inflection point in our Billings, after several
quarters of sequential declines. Specifically, while our average
monthly Billings during Q3 were approximately $16 million, our
October Billings totaled approximately $19 million. While not yet a
trend, we believe seedlings like these will bear fruit. Lastly, we
are in the process of advancing our strategic priorities which will
guide our Company’s efforts around revenue growth, margin
expansion, and inorganic opportunities. I remain bullish and
honored to lead our Company and the team we have in place to
deliver for our customers, shareholders, and employees. We sell
trust and honest ideas with innovative technology to help our
subscribers learn, invest, and lead a healthier and wealthier
life.”
YTD 3Q 2024
Highlights(1)
- Total Net Revenue for the nine
months ended September 30, 2024 was $311.2 million, a decrease of
7% compared with the same period in prior year.
- Total Billings for the nine months
ended September 30, 2024 was $183.7 million, a decrease of 36.4%
compared with the same period in prior year.
- Net Income for the nine months ended
September 30, 2024 was $66.7 million, an increase of 27% compared
with the same period in prior year.
- Net Cash Used in Operating
Activities was $28.1 million for the nine months ended September
30, 2024, compared with Net Cash Provided by Operating Activities
of $44.9 million for the same period in prior year.
Our summary results are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited) |
|
3Q 2023 |
|
4Q 2023 |
|
1Q 2024 |
|
2Q 2024 |
|
3Q 2024 |
|
TTM 3Q2024 |
Paid Subscribers (in thousands) |
|
|
774 |
|
|
737 |
|
|
683 |
|
|
|
645 |
|
|
|
592 |
|
|
|
592 |
|
Total net revenue (in millions) |
|
$ |
106.2 |
|
$ |
112.2 |
|
$ |
109.0 |
|
|
$ |
105.0 |
|
|
$ |
97.2 |
|
|
$ |
423.4 |
|
New "Marketing" Billings (1) |
|
$ |
73.7 |
|
$ |
67.7 |
|
$ |
54.8 |
|
|
$ |
38.7 |
|
|
$ |
32.3 |
|
|
$ |
193.5 |
|
Net "Renewal" Billings (2) |
|
$ |
20.8 |
|
$ |
21.6 |
|
$ |
21.4 |
|
|
$ |
17.1 |
|
|
$ |
15.7 |
|
|
$ |
75.9 |
|
Other Billings (3) |
|
$ |
1.0 |
|
$ |
4.2 |
|
$ |
1.0 |
|
|
$ |
1.8 |
|
|
$ |
0.9 |
|
|
$ |
7.9 |
|
Total Billings |
|
$ |
95.5 |
|
$ |
93.6 |
|
$ |
77.2 |
|
|
$ |
57.6 |
|
|
$ |
48.9 |
|
|
$ |
277.3 |
|
ARPU |
|
$ |
496 |
|
$ |
503 |
|
$ |
492 |
|
|
$ |
456 |
|
|
$ |
417 |
|
|
$ |
417 |
|
Net income (in millions) |
|
$ |
12.0 |
|
$ |
1.9 |
|
$ |
22.7 |
|
|
$ |
21.2 |
|
|
$ |
22.7 |
|
|
$ |
68.6 |
|
CFFO (in millions) |
|
$ |
12.1 |
|
$ |
15.7 |
|
$ |
(18.5 |
) |
|
$ |
(3.8 |
) |
|
$ |
(5.8 |
) |
|
$ |
(12.4 |
) |
Adjusted CFFO (in millions) |
|
$ |
12.1 |
|
$ |
19.7 |
|
$ |
(18.5 |
) |
|
$ |
(3.8 |
) |
|
$ |
(5.8 |
) |
|
$ |
(8.4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes billings from all new subscription
sales to new and existing subscribers. |
(2) Includes billings attributable to renewal and
maintenance fee payments. Excludes Membership sales. |
(3) Includes primarily billings from Revenue
Share, Advertising, and Conferences. |
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|
|
Balance Sheet and Capital Structure
As of September 30, 2024 the consolidated Cash balance was $94.1
million as compared with $155.2 million at December 31, 2023. The
majority of the decline in cash related to activity that occurred
in the first half of this year. For the nine months ended September
30, 2024, interest income earned totaled $4.8 million.
Consistent with previous disclosure, the Company began making
required tax distribution payments in the third quarter of 2024.
Tax distributions of approximately $6 million were made during the
quarter and are reflected in our statement of cash flows as cash
used in financing activities. We will continue to make required
quarterly tax distributions in future periods, which we expect to
be significant. The amount of future tax distributions however,
will be dependent on a variety of factors.
The Company’s $150 million credit facility matured on October
29, 2024, with no amounts outstanding. While the Company currently
has no immediate needs for external capital, and the business plan
is fully funded, the Company may in the future consider entering
into a new credit facility to enhance optionality around capital
allocation alternatives.
MarketWise Inc.’s Class A common stock trades on the NASDAQ
Global Market under the symbol “MKTW.” As of September 30, 2024,
the Company had 39,381,380 Class A common shares and 279,890,147
Class B common shares issued and outstanding.
About MarketWise
Founded with a mission to level the playing field for
self-directed investors, today MarketWise is a leading multi-brand
subscription services platform providing premium financial
research, software, education, and tools for investors.
With more than 25 years of operating history, MarketWise serves
a community of millions of free and paid subscribers. MarketWise’s
products are a trusted source for high-value financial research,
education, actionable investment ideas, and investment software.
MarketWise is a 100% digital, direct-to-customer company offering
its research across a variety of platforms including mobile,
desktops, and tablets. MarketWise has a proven, agile, and scalable
platform and our vision is to become the leading financial
solutions platform for self-directed investors.
Key Business Metrics and Non-GAAP Financial
Measures
In this release we discuss certain key business metrics, which
we believe provide useful information about the Company’s business
and the operational factors underlying the Company’s financial
performance. We are not aware of any uniform standards for
calculating these key metrics, which may hinder comparability with
other companies who may calculate similarly titled metrics in a
different way.
Billings is defined as amounts invoiced to customers.
Free Subscribers are defined as unique subscribers who have
subscribed to one of our free investment publications via a valid
email address and continue to remain directly opted in, excluding
any Paid Subscribers who also have free subscriptions. Active Free
Subscribers are those Free Subscribers with whom we have engaged
during the most recent quarter and represent those individuals who
have received and/or consumed our content on a regular basis during
that same quarter.
Paid Subscribers are defined as the total number of unique
subscribers with at least one paid subscription at the end of the
period.
Average revenue per user or ARPU is defined as the trailing four
quarters of net Billings divided by the average number of quarterly
total Paid Subscribers over that period.
In addition to our results determined in accordance with GAAP,
we believe that the below non-GAAP financial measures are useful in
evaluating our ability to generate cash. We use the below non-GAAP
financial measures, collectively, to evaluate our ongoing
operations and for internal planning and forecasting purposes. We
believe that non-GAAP financial information, when taken
collectively, may be helpful to investors because it provides
consistency and comparability with past financial performance. This
non-GAAP financial information is presented for supplemental
informational purposes only and should not be considered a
substitute for financial information presented in accordance with
GAAP, and may be different from similarly titled non-GAAP measures
used by other companies. A reconciliation is provided above for
each non-GAAP financial measure to the most directly comparable
financial measure stated in accordance with GAAP. Investors are
encouraged to review the related GAAP financial measures and the
reconciliations of these non-GAAP financial measures to their most
directly comparable GAAP financial measures.
Adjusted CFFO is defined as cash flow from operations plus
or minus any non-recurring items.
Adjusted CFFO Margin is defined as Adjusted CFFO as a percentage
of Billings.
We believe that Adjusted CFFO and Adjusted CFFO Margin are
useful indicators that provide information to management and
investors about our ability to generate cash (without the effects
of non-recurring items), and for internal planning and forecasting
purposes.
We expect Adjusted CFFO and Adjusted CFFO Margin to fluctuate in
future periods as we invest in our business to execute our growth
strategy. These activities, along with any non-recurring items as
described above, may result in fluctuations in Adjusted CFFO and
Adjusted CFFO Margin in future periods.
Non-GAAP Measures
The following table provides a reconciliation of net cash
provided by operating activities to Adjusted CFFO, and net cash
provided by operating activities margin as a percentage of total
net revenue to Adjusted CFFO Margin, in each case, the most
directly comparable financial measure calculated in accordance with
generally accepted accounting principles in the United States
(“GAAP”):
(In
thousands) |
|
Third Quarter |
|
|
|
Year to Date September 30, |
|
|
|
|
|
2024 |
|
|
|
2023 |
|
|
% Change |
|
|
2024 |
|
|
|
2023 |
|
|
% Change |
Net cash (used in) provided by operating activities |
|
$ |
(5,829 |
) |
|
$ |
12,055 |
|
|
(148.4)% |
|
$ |
(28,135 |
) |
|
$ |
44,901 |
|
|
(162.7)% |
Non-recurring expenses |
|
|
— |
|
|
|
— |
|
|
NM |
|
|
— |
|
|
|
— |
|
|
NM |
Adjusted CFFO |
|
$ |
(5,829 |
) |
|
$ |
12,055 |
|
|
(148.4)% |
|
$ |
(28,135 |
) |
|
$ |
44,901 |
|
|
(162.7)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by
operating activities |
|
$ |
(5,829 |
) |
|
$ |
12,055 |
|
|
(148.4)% |
|
$ |
(28,135 |
) |
|
$ |
44,901 |
|
|
(162.7)% |
Total net revenue |
|
|
97,186 |
|
|
|
106,150 |
|
|
(8.4)% |
|
|
311,223 |
|
|
|
336,027 |
|
|
(7.4)% |
Net cash (used in) provided by
operating activities margin |
|
|
(6.0 |
%) |
|
|
11.4 |
% |
|
|
|
|
(9.0 |
%) |
|
|
13.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted CFFO |
|
$ |
(5,829 |
) |
|
$ |
12,055 |
|
|
(148.4)% |
|
$ |
(28,135 |
) |
|
$ |
44,901 |
|
|
(162.7)% |
Billings |
|
|
48,929 |
|
|
|
95,513 |
|
|
(48.8)% |
|
|
183,728 |
|
|
|
288,854 |
|
|
(36.4)% |
Adjusted CFFO margin |
|
|
(11.9 |
%) |
|
|
12.6 |
% |
|
|
|
|
(15.3 |
%) |
|
|
15.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NM: Not meaningful
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 financial position,
business strategy, and the plans and objectives of management for
future operations of MarketWise. 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,”
“will continue,” “will likely result,” and similar expressions, but
the absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections, and other statements about future events that are
based on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including, but not limited to:
our ability to attract new subscribers and to persuade existing
subscribers to renew their subscription agreements with us and to
purchase additional products and services from us; our ability to
adequately market our products and services, and to develop
additional products and product offerings; our ability to manage
our growth effectively, including through acquisitions; failure to
maintain and protect our reputation for trustworthiness and
independence; our ability to attract, develop, and retain capable
management, editors, and other key personnel; our ability to grow
market share in our existing markets or any new markets we may
enter; adverse or weakened conditions in the financial sector,
global financial markets, and global economy; current macroeconomic
events, including heightened inflation, rise in interest rates and
the potential for an economic recession; failure to comply with
laws and regulations or other regulatory action or investigations,
including the Advisers Act; our ability to respond to and adapt to
changes in technology and consumer behavior; failure to
successfully identify and integrate acquisitions, or dispose of
assets and businesses; our public securities’ potential liquidity
and trading; the impact of the regulatory environment and
complexities with compliance related to such environment; our
future capital needs; our ability to maintain an effective system
of internal control over financial reporting, and to address and
remediate existing material weaknesses in our internal control over
financial reporting; and other factors beyond our control.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of our
filings with the U.S. Securities and Exchange Commission (the
“SEC”). These filings identify and address other important risks
and uncertainties that could cause actual events and results to
differ materially from those contained in the forward-looking
statements. New risks emerge from time to time. It is not possible
for our management to predict all risks, nor can we assess the
impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements we may make. In light of these risks, uncertainties and
assumptions, the forward-looking events and circumstances discussed
in this press release may not occur and actual results could differ
materially and adversely from those anticipated.
Forward-looking statements speak only as of the date they are
made. Readers are cautioned not to put undue reliance on
forward-looking statements, and we assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events or otherwise.
We do not give any assurance that we will achieve our
expectations.
Table 1. Income Statement
(Unaudited, in
thousands) |
|
Third Quarter |
|
Year to Date September 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
Net revenue |
|
$ |
96,975 |
|
$ |
105,799 |
|
$ |
309,761 |
|
$ |
334,777 |
Related party revenue |
|
|
211 |
|
|
351 |
|
|
1,462 |
|
|
1,250 |
Total net revenue |
|
|
97,186 |
|
|
106,150 |
|
|
311,223 |
|
|
336,027 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Cost of revenue(1) |
|
|
12,902 |
|
|
13,812 |
|
|
39,649 |
|
|
43,737 |
Sales and marketing(1) |
|
|
36,644 |
|
|
52,466 |
|
|
126,663 |
|
|
150,226 |
General and administrative(1) |
|
|
22,480 |
|
|
25,005 |
|
|
70,796 |
|
|
80,667 |
Research and development(1) |
|
|
2,614 |
|
|
2,085 |
|
|
6,934 |
|
|
6,778 |
Depreciation and amortization |
|
|
635 |
|
|
1,001 |
|
|
1,997 |
|
|
2,979 |
Impairment of intangible assets |
|
|
— |
|
|
584 |
|
|
— |
|
|
584 |
Related party expense |
|
|
9 |
|
|
155 |
|
|
393 |
|
|
487 |
Total operating expenses |
|
|
75,284 |
|
|
95,108 |
|
|
246,432 |
|
|
285,458 |
Income from operations |
|
|
21,902 |
|
|
11,042 |
|
|
64,791 |
|
|
50,569 |
Other income, net |
|
|
632 |
|
|
182 |
|
|
210 |
|
|
807 |
Interest income, net |
|
|
1,185 |
|
|
1,511 |
|
|
4,184 |
|
|
3,062 |
Income before income
taxes |
|
|
23,719 |
|
|
12,735 |
|
|
69,185 |
|
|
54,438 |
Income tax expense |
|
|
973 |
|
|
691 |
|
|
2,487 |
|
|
2,046 |
Net income |
|
|
22,746 |
|
|
12,044 |
|
|
66,698 |
|
|
52,392 |
Net income attributable to
noncontrolling interests |
|
|
21,026 |
|
|
11,904 |
|
|
61,777 |
|
|
50,749 |
Net income attributable to
MarketWise, Inc. |
|
$ |
1,720 |
|
$ |
140 |
|
$ |
4,921 |
|
$ |
1,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Cost of revenue, sales and marketing, general and
administrative, and research and development expenses are exclusive
of depreciation and amortization shown as a separate line item
Table 2. Balance Sheet
(Unaudited, in
thousands, except share and per share data) |
|
September 30, 2024 |
|
December 31, 2023 |
Assets |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
|
$ |
94,111 |
|
|
$ |
155,174 |
|
Accounts receivable |
|
|
2,224 |
|
|
|
4,528 |
|
Prepaid expenses |
|
|
8,993 |
|
|
|
9,305 |
|
Related party receivables |
|
|
930 |
|
|
|
5,182 |
|
Deferred contract acquisition costs |
|
|
64,757 |
|
|
|
91,480 |
|
Other current assets |
|
|
1,480 |
|
|
|
2,172 |
|
Total current assets |
|
|
172,495 |
|
|
|
267,841 |
|
Property and equipment,
net |
|
|
567 |
|
|
|
690 |
|
Operating lease right-of-use
assets |
|
|
5,801 |
|
|
|
7,331 |
|
Intangible assets, net |
|
|
7,687 |
|
|
|
6,255 |
|
Goodwill |
|
|
33,560 |
|
|
|
31,038 |
|
Deferred contract acquisition
costs, noncurrent |
|
|
49,746 |
|
|
|
73,420 |
|
Deferred tax assets |
|
|
8,469 |
|
|
|
9,693 |
|
Other assets |
|
|
26 |
|
|
|
287 |
|
Total assets |
|
$ |
278,351 |
|
|
$ |
396,555 |
|
Liabilities and stockholders’ deficit |
|
|
|
|
Current liabilities: |
|
|
|
|
Trade and other payables |
|
$ |
2,326 |
|
|
$ |
559 |
|
Related party payables, net |
|
|
1,133 |
|
|
|
1,137 |
|
Accrued expenses |
|
|
22,370 |
|
|
|
55,041 |
|
Deferred revenue and other contract liabilities |
|
|
229,735 |
|
|
|
287,751 |
|
Operating lease liabilities |
|
|
1,639 |
|
|
|
1,446 |
|
Other current liabilities |
|
|
26,769 |
|
|
|
27,959 |
|
Total current liabilities |
|
|
283,972 |
|
|
|
373,893 |
|
Long-term liabilities –
related party |
|
|
316 |
|
|
|
— |
|
Deferred revenue and other
contract liabilities, noncurrent |
|
|
233,096 |
|
|
|
304,342 |
|
Other liabilities,
noncurrent |
|
|
2,313 |
|
|
|
2,151 |
|
Related party tax receivable
agreement liability, noncurrent |
|
|
2,669 |
|
|
|
746 |
|
Operating lease liabilities,
noncurrent |
|
|
3,100 |
|
|
|
4,366 |
|
Total liabilities |
|
|
525,466 |
|
|
|
685,498 |
|
Commitments and
Contingencies |
|
|
— |
|
|
|
— |
|
Stockholders’ deficit: |
|
|
|
|
Common stock - Class A, par value of $0.0001 per share, 950,000,000
shares authorized; |
|
|
|
|
|
|
|
|
39,381,380 and 36,384,981 shares issued and outstanding at
September 30, 2024 and December 31, 2023,
respectively |
|
|
4 |
|
|
|
4 |
|
Common stock - Class B, par value of $0.0001 per share, 300,000,000
shares authorized; |
|
|
|
|
|
|
|
|
279,890,147 and 288,092,303 shares issued and outstanding at
September 30, 2024 and December 31, 2023,
respectively |
|
|
28 |
|
|
|
29 |
|
Preferred stock - par value of $0.0001 per share, 100,000,000
shares authorized; |
|
|
|
|
|
|
|
|
0 shares issued and outstanding at September 30, 2024 and
December 31, 2023, respectively |
|
|
— |
|
|
|
— |
|
Additional paid-in capital |
|
|
101,857 |
|
|
|
115,164 |
|
Accumulated other comprehensive income |
|
|
56 |
|
|
|
65 |
|
Accumulated deficit |
|
|
(121,422 |
) |
|
|
(126,343 |
) |
Total stockholders’ deficit attributable to MarketWise, Inc. |
|
|
(19,477 |
) |
|
|
(11,081 |
) |
Noncontrolling interest |
|
|
(227,638 |
) |
|
|
(277,862 |
) |
Total stockholders’ deficit |
|
|
(247,115 |
) |
|
|
(288,943 |
) |
Total liabilities and stockholders’ deficit |
|
$ |
278,351 |
|
|
$ |
396,555 |
|
Table 3. Cash Flows
(Unaudited, in
thousands) |
|
Year to Date September 30, |
|
|
|
2024 |
|
|
|
2023 |
|
Cash flows from
operating activities: |
|
|
|
|
Net income |
|
$ |
66,698 |
|
|
$ |
52,392 |
|
Adjustments to reconcile net
income to net cash (used in) provided by operating activities: |
|
|
|
|
Depreciation and amortization |
|
|
1,997 |
|
|
|
2,979 |
|
Impairment and other charges |
|
|
— |
|
|
|
584 |
|
Stock-based compensation |
|
|
8,668 |
|
|
|
10,956 |
|
Change in fair value of contingent consideration |
|
|
269 |
|
|
|
— |
|
Change in fair value of derivative and other liabilities,
noncurrent |
|
|
— |
|
|
|
1,673 |
|
Deferred taxes |
|
|
2,136 |
|
|
|
2,046 |
|
Unrealized (gains) losses on foreign currency |
|
|
(128 |
) |
|
|
5 |
|
Noncash lease expense |
|
|
1,530 |
|
|
|
1,590 |
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable |
|
|
2,304 |
|
|
|
(1,918 |
) |
Related party receivables and payables, net |
|
|
3,588 |
|
|
|
810 |
|
Prepaid expenses |
|
|
312 |
|
|
|
329 |
|
Other current assets and other assets |
|
|
953 |
|
|
|
562 |
|
Deferred contract acquisition costs |
|
|
50,397 |
|
|
|
23,566 |
|
Trade and other payables |
|
|
2,176 |
|
|
|
1,189 |
|
Accrued expenses |
|
|
(32,671 |
) |
|
|
(3,265 |
) |
Deferred revenue - current and noncurrent |
|
|
(133,595 |
) |
|
|
(44,288 |
) |
Operating lease liabilities - current and noncurrent |
|
|
(1,073 |
) |
|
|
(1,111 |
) |
Other current and long-term liabilities |
|
|
(1,696 |
) |
|
|
(3,198 |
) |
Net cash (used in) provided by operating activities |
|
|
(28,135 |
) |
|
|
44,901 |
|
Cash flows from
investing activities: |
|
|
|
|
Cash paid for acquisitions, net of cash acquired |
|
|
— |
|
|
|
(170 |
) |
Purchases of property and equipment |
|
|
(52 |
) |
|
|
(60 |
) |
Capitalized software development costs |
|
|
(736 |
) |
|
|
(1,428 |
) |
Net cash used in investing activities |
|
|
(788 |
) |
|
|
(1,658 |
) |
Cash flows from
financing activities: |
|
|
|
|
Proceeds from issuance of common stock |
|
|
213 |
|
|
|
332 |
|
Repurchases of stock |
|
|
(10,803 |
) |
|
|
— |
|
Restricted stock units withheld to pay taxes |
|
|
(1,368 |
) |
|
|
(1,520 |
) |
Dividends paid |
|
|
(1,113 |
) |
|
|
(299 |
) |
Distributions to noncontrolling interests |
|
|
(19,060 |
) |
|
|
(6,319 |
) |
Net cash used in financing activities |
|
|
(32,131 |
) |
|
|
(7,806 |
) |
Effect of exchange rate
changes on cash |
|
|
(9 |
) |
|
|
11 |
|
Net increase in cash, cash
equivalents and restricted cash |
|
|
(61,063 |
) |
|
|
35,448 |
|
Cash, cash equivalents and
restricted cash — beginning of period |
|
|
155,174 |
|
|
|
158,575 |
|
Cash, cash equivalents and
restricted cash — end of period |
|
$ |
94,111 |
|
|
$ |
194,023 |
|
MarketWise Investor Relations Contact
Erik Mickels – Chief Financial Officer(800) 290-4113Email:
ir@marketwise.com
MarketWise Media ContactEmail:
media@marketwise.com
MarketWise (NASDAQ:MKTW)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
MarketWise (NASDAQ:MKTW)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024