Marchex, Inc. (MCHX) saw its loss narrow to $3.51 million, or $0.08 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.68 million, or $0.09 a share. On the other hand, adjusted net loss for the quarter widened to $1.46 million, or $0.03 a share from a loss of $1.35 million or $0.03 a share, a year ago. Revenue during the quarter plunged 32.26 percent to $24.38 million from $35.98 million in the previous year period. Gross margin for the quarter expanded 530 basis points over the previous year period to 44.21 percent. Operating margin for the quarter stood at negative 14.42 percent as compared to a negative 10.16 percent for the previous year period.
Operating loss for the quarter was $3.52 million, compared with an operating loss of $3.66 million in the previous year period.
Adjusted EBITDA for the quarter stood at negative $1.41 million compared to negative $0.81 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 5.77 percent for the quarter compared to negative 2.25 percent in the last year period.
Operating cash flow remains negativeMarchex, Inc. has spent $0.88 million cash to meet operating activities during the quarter as against cash outgo of $2.27 million in the last year period. The company has spent $0.01 million cash to meet investing activities during the quarter as against cash outgo of $0.48 million in the last year period.
Cash flow from financing activities was $0.01 million for the quarter, down 96.84 percent or $0.18 million, when compared with the last year period.
Cash and cash equivalents stood at $103.07 million as on Mar. 31, 2017, down 3.31 percent or $3.53 million from $106.60 million on Mar. 31, 2016.
Working capital declines
Marchex, Inc. has witnessed a decline in the working capital over the last year. It stood at $108.12 million as at Mar. 31, 2017, down 8.25 percent or $9.73 million from $117.85 million on Mar. 31, 2016. Current ratio was at 8.93 as on Mar. 31, 2017, up from 7.59 on Mar. 31, 2016.
Days sales outstanding went up to 77 days for the quarter compared with 65 days for the same period last year.
At the same time, days payable outstanding went up to 51 days for the quarter from 42 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
