Marchex 2014 Results: $21.9 Million Revenue From Domain Names (including Archeo)

marchexMarchex, Inc. today announced its financial results for the fourth quarter and full year ended December 31, 2014. Marchex had $7.4 million in domain name gains and sales in 2014 compared with $6.2 million in 2013. Marchex had another $14.5 million revenue from Archeo Domains. ($21.2 million in 2013)

“Over the last several years, we have focused on bringing visibility to the mobile advertising world through our call analytics platform. Early on we saw the makings of a giant advertising measurement opportunity as mobile experiences would become a major driver of sales both online and offline, including consumer calls to businesses,” said Pete Christothoulou, Chief Executive Officer of Marchex. “In 2015 and beyond, we will continue to support enterprise clients through call analytics product innovations combined with delivering incredible customer experiences.”

Q4 2014 Financial Highlights:

  • GAAP revenue was $33.3 million for the fourth quarter of 2014, compared to $39.7 million for the fourth quarter of 2013.
  • GAAP net income from continuing operations was $571,000 for the fourth quarter of 2014, compared to GAAP net income from continuing operations of $597,000 for the fourth quarter of 2013.
  • GAAP net income from continuing operations attributable to common stockholders per diluted share was $0.01 for the fourth quarter of 2014. This compares to GAAP net income from continuing operations attributable to common stockholders per diluted share of $0.02 for the fourth quarter of 2013.
Q4 2014 Q4 2013
GAAP Revenue $33.3 million $39.7 million
Call-Driven and related revenue5 $30.3 million $34.5 million
Non-GAAP Results:
Call-Driven Adjusted OIBA4 $2.5 million $1.7 million
Call-Driven Adjusted EBITDA4 $3.4 million $2.6 million
Adjusted OIBA4 $3.5 million $4.3 million
Adjusted EBITDA4 $4.4 million $5.2 million
Archeo Revenue including domain gains and sales2,4 $3.0 million $5.2 million
Domain gains and sales2 $1.7 million $1.6 million
  • Adjusted non-GAAP EPS3 from continuing operations for the fourth quarter of 2014 was $0.05, compared to $0.07 for the fourth quarter of 2013.

Full Year 2014 Financial Highlights1

  • GAAP revenue was $182.6 million for 2014, compared to $152.6 million for 2013.
  • GAAP net loss from continuing operations was $19.4 million for 2014, which includes the effect of a non-cash charge to income tax expense of $22.3 million for a valuation allowance on our deferred tax assets recorded in the third quarter, compared to GAAP net income from continuing operations of $957,000 for 2013.
  • GAAP net loss from continuing operations attributable to common stockholders per diluted share was $0.49 for 2014. This compares to GAAP net income from continuing operations attributable to common stockholders per diluted share of $0.03 for 2013.
FY 2014 FY 2013
GAAP Revenue $182.6 million $152.6 million
Call-Driven and related revenue5 $168.1 million $135.1 million
Non-GAAP Results:
Call-Driven Adjusted OIBA4 $11.1 million $6.3 million
Call-Driven Adjusted EBITDA4 $14.7 million $9.9 million
Adjusted OIBA3, 4 $17.2 million $15.8 million
Adjusted EBITDA3, 4 $20.9 million $19.5 million
Archeo Revenue including domain gains and sales2,4 $14.5 million $21.2 million
Domain gains and sales2 $7.4 million $6.2 million

1 In July 2013, certain pay-per-click assets were sold. As a result, the financial results of these pay-per-click assets are presented as discontinued operations, net of tax in our condensed consolidated statements of operations in accordance with GAAP, and are excluded from all other results unless otherwise noted.

2Includes domain sales recognized in gains on sales and disposals of intangible assets in 2013 and domain sales recognized in GAAP revenue. In September 2013 upon the launch of its domain marketplace, the Company commenced recognizing domain sales as revenue.

3 Adjusted OIBA, Adjusted EBITDA and Non-GAAP EPS include the impact of domain gains and sales. Historically, these non-GAAP measures excluded the impact of domain gains and sales.

4 Reconciliations of non-GAAP measures are included in the financial tables attached to this press release and we encourage investors to examine the reconciling adjustments between the GAAP and non-GAAP measures.

5Allstate contributed revenue of $48.8 million and $18.0 million in 2014 and 2013, respectively. Substantially all of the 2014 revenue related to the nine months ended September 30, 2014.

Sold.Domains

About Konstantinos Zournas

Konstantinos studied Computer Engineering and Computer Science in London and lives in Athens, Greece. He works on domain names, websites and software development. Has been online since 1995 & domaining since 2002.

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