$MCHX
MARCHEX INC

2016 Q3 Form 10-Q Financial Statement

#000156459017021878 Filed on November 06, 2017

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2
Revenue $30.75M $34.41M
YoY Change -16.56% -2.64%
Cost Of Revenue $18.51M $20.48M
YoY Change -7.49% 3.43%
Gross Profit $12.24M $13.94M
YoY Change -27.33% -10.38%
Gross Profit Margin 39.82% 40.49%
Selling, General & Admin $10.88M $11.48M
YoY Change 21.09% 31.22%
% of Gross Profit 88.88% 82.4%
Research & Development $6.832M $7.555M
YoY Change -12.06% -7.27%
% of Gross Profit 55.8% 54.22%
Depreciation & Amortization $762.0K $808.0K
YoY Change -13.9% -13.02%
% of Gross Profit 6.22% 5.8%
Operating Expenses $17.71M $19.04M
YoY Change 5.72% 12.66%
Operating Profit -$5.824M -$68.71M
YoY Change -48633.33% 4586.97%
Interest Expense $0.00 -$30.00K
YoY Change -100.0% 50.0%
% of Operating Profit
Other Income/Expense, Net -$15.00K -$68.00K
YoY Change 25.0% 325.0%
Pretax Income -$5.840M -$68.78M
YoY Change 4540.96%
Income Tax $15.00K $12.00K
% Of Pretax Income
Net Earnings -$5.850M -$68.79M
YoY Change -65100.0% -429.65%
Net Earnings / Revenue -19.03% -199.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$139.7K -$1.648M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.3M $105.8M
YoY Change -3.31% 1.34%
Cash & Equivalents $105.3M $105.8M
Short-Term Investments
Other Short-Term Assets $2.000M $2.400M
YoY Change 0.0% -7.69%
Inventory
Prepaid Expenses
Receivables $21.60M $25.30M
Other Receivables $100.0K $100.0K
Total Short-Term Assets $129.0M $133.6M
YoY Change -5.79% -2.97%
LONG-TERM ASSETS
Property, Plant & Equipment $3.900M $4.454M
YoY Change -37.48% -31.17%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $4.100M $4.676M
YoY Change -94.12% -93.32%
TOTAL ASSETS
Total Short-Term Assets $129.0M $133.6M
Total Long-Term Assets $4.100M $4.676M
Total Assets $133.1M $138.3M
YoY Change -35.61% -33.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.000M $9.614M
YoY Change -33.91% -28.09%
Accrued Expenses $8.300M $7.600M
YoY Change 7.79% -3.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.60M $17.53M
YoY Change -21.61% -22.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $407.0K
YoY Change -61.49% -54.68%
Total Long-Term Liabilities $300.0K $407.0K
YoY Change -61.49% -54.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.60M $17.53M
Total Long-Term Liabilities $300.0K $407.0K
Total Liabilities $16.90M $17.94M
YoY Change -23.02% -23.72%
SHAREHOLDERS EQUITY
Retained Earnings -$236.0M
YoY Change 43.21%
Common Stock $356.0M
YoY Change 2.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.000K $95.00K
YoY Change -97.8% -34.03%
Treasury Stock Shares
Shareholders Equity $116.2M $120.3M
YoY Change
Total Liabilities & Shareholders Equity $133.1M $138.3M
YoY Change -35.61% -33.43%

Cashflow Statement

Concept 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income -$5.850M -$68.79M
YoY Change -65100.0% -429.65%
Depreciation, Depletion And Amortization $762.0K $808.0K
YoY Change -13.9% -13.02%
Cash From Operating Activities -$220.0K -$380.0K
YoY Change -102.91% -78.41%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K -$120.0K
YoY Change -68.0% -94.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$240.0K -$110.0K
YoY Change -80.95% -100.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K -320.0K
YoY Change -97.22% -72.88%
NET CHANGE
Cash From Operating Activities -220.0K -380.0K
Cash From Investing Activities -240.0K -110.0K
Cash From Financing Activities -50.00K -320.0K
Net Change In Cash -510.0K -810.0K
YoY Change -111.33% -103.9%
FREE CASH FLOW
Cash From Operating Activities -$220.0K -$380.0K
Capital Expenditures -$240.0K -$120.0K
Free Cash Flow $20.00K -$260.0K
YoY Change -99.76% -192.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Cost Of Services
CostOfServices
60964000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
16733000
mchx Acquisition And Disposition Related Costs
AcquisitionAndDispositionRelatedCosts
662000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21859000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15815000
us-gaap Costs And Expenses
CostsAndExpenses
116033000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
63305000
us-gaap Operating Income Loss
OperatingIncomeLoss
-78192000
us-gaap Operating Income Loss
OperatingIncomeLoss
-5698000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-90000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
134000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-78282000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5564000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-78322000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5601000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.88
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2457000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2266000
mchx Allowance For Doubtful Accounts And Advertiser Credits
AllowanceForDoubtfulAccountsAndAdvertiserCredits
1429000
mchx Allowance For Doubtful Accounts And Advertiser Credits
AllowanceForDoubtfulAccountsAndAdvertiserCredits
673000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-3000
us-gaap Share Based Compensation
ShareBasedCompensation
7246000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1612000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-10000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
223000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1477000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1812000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-329000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-396000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2873000
us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
224000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
594000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
154000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-829000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
365000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
341000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-178000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3880000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
109155000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
6.00
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y0M26D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y11M23D
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
45000
CY2017Q3 mchx Number Of Financial Institutions
NumberOfFinancialInstitutions
2
CY2017Q3 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
CY2016Q3 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.17
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7246000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7678
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1226
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
794
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1833
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.97
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.73
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29142000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27821000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25585000
CY2017Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25283000
CY2016Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
762000
CY2017Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
786000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2300000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1370000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
288000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1476000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1520000
CY2017Q3 mchx Operating Leases Future Minimum Payments Due In Five Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsAndThereafter
7414000
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
12068000
CY2017Q3 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
1052000
CY2017Q3 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
2433000
CY2017Q3 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
809000
CY2017Q3 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
1000
CY2017Q3 mchx Other Commitment Due In Fifth Year And Thereafter
OtherCommitmentDueInFifthYearAndThereafter
0
CY2017Q3 us-gaap Other Commitment
OtherCommitment
4295000
CY2017Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
1340000
CY2017Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
3803000
CY2017Q3 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
2285000
CY2017Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1521000
CY2017Q3 mchx Contractual Obligation Due In Fifth Year And Thereafter
ContractualObligationDueInFifthYearAndThereafter
7414000
CY2017Q3 us-gaap Contractual Obligation
ContractualObligation
16363000
CY2017Q2 us-gaap Lessee Leasing Arrangements Operating Leases Renewal Term
LesseeLeasingArrangementsOperatingLeasesRenewalTerm
P84M
CY2017Q2 mchx Payments For Lease Termination Fee
PaymentsForLeaseTerminationFee
671000
CY2017Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2025-03-31
CY2017Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
575000
CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
559000
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
651000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1500000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1600000
CY2016Q4 mchx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
CY2017Q3 mchx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
CY2016Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1600000
CY2016Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
354000
CY2017Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
700000
us-gaap Payments For Restructuring
PaymentsForRestructuring
700000
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
250000
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
239000
CY2016Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
63300000
CY2016Q2 us-gaap Goodwill
Goodwill
0

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