$MCHX
MARCHEX INC

2019 Q2 Form 10-Q Financial Statement

#000156459019030869 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $26.34M $20.22M
YoY Change 30.28% -8.17%
Cost Of Revenue $13.92M $11.38M
YoY Change 22.3% -6.5%
Gross Profit $12.42M $8.834M
YoY Change 40.57% -10.23%
Gross Profit Margin 47.14% 43.69%
Selling, General & Admin $7.580M $5.878M
YoY Change 28.96% -14.38%
% of Gross Profit 61.04% 66.54%
Research & Development $5.005M $3.870M
YoY Change 29.33% -9.64%
% of Gross Profit 40.3% 43.81%
Depreciation & Amortization $377.0K $335.0K
YoY Change 12.54% -53.73%
% of Gross Profit 3.04% 3.79%
Operating Expenses $5.005M $5.878M
YoY Change -14.85% -47.27%
Operating Profit -$1.272M -$917.0K
YoY Change 38.71% -29.84%
Interest Expense $220.0K $270.0K
YoY Change -18.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.054M -$648.0K
YoY Change 62.65% -48.86%
Income Tax $60.00K $10.00K
% Of Pretax Income
Net Earnings -$1.114M -$658.0K
YoY Change 69.3% -48.59%
Net Earnings / Revenue -4.23% -3.25%
Basic Earnings Per Share
Diluted Earnings Per Share -$24.48K -$15.48K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.00M $76.80M
YoY Change -33.59% -25.0%
Cash & Equivalents $51.02M $76.80M
Short-Term Investments
Other Short-Term Assets $3.200M $2.300M
YoY Change 39.13% 15.0%
Inventory
Prepaid Expenses
Receivables $16.53M $15.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $70.72M $94.40M
YoY Change -25.09% -21.33%
LONG-TERM ASSETS
Property, Plant & Equipment $3.206M $2.600M
YoY Change 23.31% -12.22%
Goodwill $24.44M
YoY Change
Intangibles $17.56M
YoY Change
Long-Term Investments
YoY Change
Other Assets $236.0K $900.0K
YoY Change -73.78% 173.56%
Total Long-Term Assets $52.06M $3.400M
YoY Change 1431.12% 3.31%
TOTAL ASSETS
Total Short-Term Assets $70.72M $94.40M
Total Long-Term Assets $52.06M $3.400M
Total Assets $122.8M $97.80M
YoY Change 25.54% -20.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.434M $5.100M
YoY Change 26.16% 0.04%
Accrued Expenses $7.900M $5.900M
YoY Change 33.9% -9.23%
Deferred Revenue $3.541M $1.079M
YoY Change 228.17%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.19M $12.10M
YoY Change 58.58% 1.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $61.00K $1.100M
YoY Change -94.45% 103.7%
Total Long-Term Liabilities $61.00K $1.100M
YoY Change -94.45% 103.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.19M $12.10M
Total Long-Term Liabilities $61.00K $1.100M
Total Liabilities $27.09M $13.20M
YoY Change 105.22% 6.08%
SHAREHOLDERS EQUITY
Retained Earnings -$258.6M
YoY Change
Common Stock $353.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $95.69M $84.63M
YoY Change
Total Liabilities & Shareholders Equity $122.8M $97.80M
YoY Change 25.54% -20.67%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$1.114M -$658.0K
YoY Change 69.3% -48.59%
Depreciation, Depletion And Amortization $377.0K $335.0K
YoY Change 12.54% -53.73%
Cash From Operating Activities -$660.0K -$1.280M
YoY Change -48.44% -592.31%
INVESTING ACTIVITIES
Capital Expenditures -$730.0K -$840.0K
YoY Change -13.1% -6.67%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$730.0K -$840.0K
YoY Change -13.1% -6.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.500M -5.630M
YoY Change -126.64% -56400.0%
NET CHANGE
Cash From Operating Activities -660.0K -1.280M
Cash From Investing Activities -730.0K -840.0K
Cash From Financing Activities 1.500M -5.630M
Net Change In Cash 110.0K -7.750M
YoY Change -101.42% 1130.16%
FREE CASH FLOW
Cash From Operating Activities -$660.0K -$1.280M
Capital Expenditures -$730.0K -$840.0K
Free Cash Flow $70.00K -$440.0K
YoY Change -115.91% -137.93%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
dei Entity File Number
EntityFileNumber
000-50658
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
352194038
dei Entity Address Address Line1
EntityAddressAddressLine1
520 Pike Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 2000
dei Entity Address City Or Town
EntityAddressCityOrTown
Seattle
dei Entity Address State Or Province
EntityAddressStateOrProvince
WA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
98101
dei City Area Code
CityAreaCode
206
dei Local Phone Number
LocalPhoneNumber
331-3300
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3917000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17561000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28735000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25094000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25410000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
335000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
377000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
790000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
734000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1653000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.88
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.28
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
6.16
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.78
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.01
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M3D
CY2018Q2 mchx Number Of Financial Institutions
NumberOfFinancialInstitutions
2
CY2018Q2 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
CY2019Q2 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28015000
mchx Contribution As Credit Against Lease Payments
ContributionAsCreditAgainstLeasePayments
180000
CY2019Q2 mchx Contribution From Lessor As Reimbursement Towards Leasehold Improvements
ContributionFromLessorAsReimbursementTowardsLeaseholdImprovements
180000
CY2018Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
373000
CY2018Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
575000
CY2019Q2 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
100000
CY2019Q2 mchx Long Term Operating Lease Cost
LongTermOperatingLeaseCost
425000
mchx Long Term Operating Lease Cost
LongTermOperatingLeaseCost
859000
CY2019Q2 mchx Short Term Operating Lease Cost
ShortTermOperatingLeaseCost
29000
mchx Short Term Operating Lease Cost
ShortTermOperatingLeaseCost
59000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
454000
us-gaap Operating Lease Cost
OperatingLeaseCost
918000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2018Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
369000000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
746000000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9351000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1433000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7918000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
667000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1615000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1613000
CY2019Q2 mchx Operating Leases Future Minimum Payments Due In Five Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsAndThereafter
3803000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
9351000
CY2019Q2 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
1587000
CY2019Q2 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
757000
CY2019Q2 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
256000
CY2019Q2 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
4000
CY2019Q2 mchx Other Commitment Due In Fifth Year And Thereafter
OtherCommitmentDueInFifthYearAndThereafter
0
CY2019Q2 us-gaap Other Commitment
OtherCommitment
2604000
CY2019Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
2254000
CY2019Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2372000
CY2019Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1617000
CY2019Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
1909000
CY2019Q2 mchx Contractual Obligation Due In Fifth Year And Thereafter
ContractualObligationDueInFifthYearAndThereafter
3803000
CY2019Q2 us-gaap Contractual Obligation
ContractualObligation
11955000
CY2018Q4 mchx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
CY2019Q2 mchx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
51947000
CY2018Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
25267000
mchx Business Acquisitions Pro Forma Net Income Loss Available To Common Stockholders Basic
BusinessAcquisitionsProFormaNetIncomeLossAvailableToCommonStockholdersBasic
-2166000
CY2018Q2 mchx Business Acquisitions Pro Forma Net Income Loss Available To Common Stockholders Basic
BusinessAcquisitionsProFormaNetIncomeLossAvailableToCommonStockholdersBasic
-858000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20697000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21478000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3100000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5700000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4200000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2500000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2100000
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
CY2017Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
21900000
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
21900000

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