Marchex Inc Financials
This page shows Marchex Inc (MCHX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Marchex is buying time through cost cuts and minimal reinvestment, but declining revenue still leaves overhead uncovered.
From FY2023 to FY2025, free cash burn shrank from-$5.8M to-$1.4M even as revenue kept falling, which points to a smaller cost base rather than a healthier demand engine. The catch is that FY2025 capex was only$36K , so much of the cash improvement came from pulling back reinvestment as well as trimming expenses.
The balance sheet remains conservative: cash of
This is an asset-light but overhead-heavy operation: FY2025 gross margin stayed high at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Marchex Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marchex Inc has an operating margin of -12.6%, meaning the company retains $-13 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -9.2% the prior year.
Marchex Inc's revenue declined 5.6% year-over-year, from $48.1M to $45.4M. This contraction results in a growth score of 26/100.
Marchex Inc carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
Marchex Inc's current ratio of 2.36 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.
While Marchex Inc generated -$1.4M in operating cash flow, capex of $36K consumed most of it, leaving -$1.4M in free cash flow. This results in a low score of 13/100, reflecting heavy capital investment rather than weak cash generation.
Marchex Inc generates a -17.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -15.2% the prior year.
Marchex Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Marchex Inc generates $0.27 in operating cash flow (-$1.4M OCF vs -$5.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Marchex Inc generated $45.4M in revenue in fiscal year 2025. This represents a decrease of 5.6% from the prior year.
Marchex Inc's EBITDA was -$4.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 43.5% from the prior year.
Marchex Inc reported -$5.2M in net income in fiscal year 2025. This represents a decrease of 5.8% from the prior year.
Marchex Inc earned $-0.12 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 9.1% from the prior year.
Cash & Balance Sheet
Marchex Inc generated -$1.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2.8% from the prior year.
Marchex Inc held $9.9M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Marchex Inc's gross margin was 63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the prior year.
Marchex Inc's operating margin was -12.6% in fiscal year 2025, reflecting core business profitability. This is down 3.4 percentage points from the prior year.
Marchex Inc's net profit margin was -11.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.2 percentage points from the prior year.
Marchex Inc's ROE was -17.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.2 percentage points from the prior year.
Capital Allocation
Marchex Inc invested $9.7M in research and development in fiscal year 2025. This represents a decrease of 21.5% from the prior year.
Marchex Inc invested $36K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 90.6% from the prior year.
MCHX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.8M-5.8% | $11.5M-1.2% | $11.7M+2.2% | $11.4M-4.4% | $11.9M-5.0% | $12.6M+4.0% | $12.1M+4.3% | $11.6M |
| Cost of Revenue | $4.2M-1.3% | $4.2M+3.9% | $4.1M-3.1% | $4.2M-4.4% | $4.4M+3.7% | $4.2M+1.7% | $4.2M-5.9% | $4.4M |
| Gross Profit | $6.7M-8.4% | $7.3M-3.9% | $7.6M+5.3% | $7.2M-4.3% | $7.5M-9.5% | $8.3M+5.1% | $7.9M+10.7% | $7.2M |
| R&D Expenses | $2.2M-7.0% | $2.4M-5.2% | $2.5M-6.4% | $2.7M-6.0% | $2.8M-8.6% | $3.1M-3.6% | $3.2M-0.7% | $3.2M |
| SG&A Expenses | $2.3M-22.7% | $2.9M+19.4% | $2.5M-21.9% | $3.1M+14.2% | $2.8M+3.1% | $2.7M+5.7% | $2.5M+10.4% | $2.3M |
| Operating Income | -$2.4M-152.5% | -$941K-75.6% | -$536K+71.4% | -$1.9M-17.9% | -$1.6M-92.4% | -$825K-14.3% | -$722K+45.0% | -$1.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$61K-325.9% | $27K+440.0% | $5K-95.4% | $108K-63.1% | $293K+1072.0% | $25K+733.3% | $3K-94.9% | $59K |
| Net Income | -$2.3M-127.2% | -$1.0M-1314.3% | $84K+104.2% | -$2.0M-3.8% | -$1.9M-129.8% | -$831K-9.9% | -$756K+47.9% | -$1.4M |
| EPS (Diluted) | N/A | $-0.02 | $0.00+100.0% | $-0.05 | N/A | $-0.020.0% | $-0.02+33.3% | $-0.03 |
MCHX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $39.7M-3.6% | $41.1M-2.0% | $42.0M+3.3% | $40.6M-5.9% | $43.2M-2.0% | $44.1M-3.1% | $45.5M-0.2% | $45.6M |
| Current Assets | $19.0M-6.7% | $20.4M-3.3% | $21.1M+5.9% | $19.9M-10.5% | $22.3M+2.2% | $21.8M-3.0% | $22.5M+0.1% | $22.5M |
| Cash & Equivalents | $9.9M-3.7% | $10.3M-1.6% | $10.5M+4.7% | $10.0M-21.5% | $12.8M+5.7% | $12.1M+0.8% | $12.0M-0.5% | $12.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $6.7M-9.8% | $7.4M-2.2% | $7.6M-0.3% | $7.6M+7.2% | $7.1M-8.9% | $7.8M+1.6% | $7.6M-6.2% | $8.1M |
| Goodwill | $17.6M0.0% | $17.6M0.0% | $17.6M0.0% | $17.6M0.0% | $17.6M0.0% | $17.6M0.0% | $17.6M0.0% | $17.6M |
| Total Liabilities | $9.6M+4.3% | $9.2M-7.4% | $9.9M+7.4% | $9.3M-12.4% | $10.6M+6.1% | $10.0M-9.2% | $11.0M+2.2% | $10.7M |
| Current Liabilities | $8.1M0.0% | $8.1M-7.6% | $8.7M+9.6% | $8.0M-14.0% | $9.3M+7.0% | $8.7M-8.5% | $9.5M+5.0% | $9.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $30.1M-5.8% | $31.9M-0.3% | $32.0M+2.1% | $31.4M-3.9% | $32.6M-4.3% | $34.1M-1.2% | $34.5M-0.9% | $34.9M |
| Retained Earnings | -$331.4M-0.7% | -$329.1M-0.3% | -$328.1M0.0% | -$328.2M-0.6% | -$326.2M-0.6% | -$324.3M-0.3% | -$323.4M-0.2% | -$322.7M |
MCHX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $121K-58.3% | $290K-63.9% | $803K+130.6% | -$2.6M-399.7% | $875K+129.1% | $382K+226.5% | $117K+104.7% | -$2.5M |
| Capital Expenditures | $5K | $0 | N/A | N/A | $118K-35.5% | $183K+137.7% | $77K+1825.0% | $4K |
| Free Cash Flow | $116K-60.0% | $290K | N/A | N/A | $757K+280.4% | $199K+397.5% | $40K+101.6% | -$2.5M |
| Investing Cash Flow | -$428K-22.3% | -$350K-38.3% | -$253K+12.5% | -$289K-75.2% | -$165K+9.8% | -$183K-137.7% | -$77K-1825.0% | -$4K |
| Financing Cash Flow | -$72K+34.5% | -$110K-39.2% | -$79K-148.2% | $164K+881.0% | -$21K+78.6% | -$98K-3.2% | -$95K-2.2% | -$93K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MCHX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.6%-1.7pp | 63.4%-1.8pp | 65.2%+1.9pp | 63.3%+0.0pp | 63.2%-3.1pp | 66.3%+0.7pp | 65.6%+3.7pp | 61.9% |
| Operating Margin | -21.9%-13.7pp | -8.2%-3.6pp | -4.6%+11.8pp | -16.4%-3.1pp | -13.3%-6.7pp | -6.6%-0.6pp | -6.0%+5.4pp | -11.3% |
| Net Margin | -21.4%-12.5pp | -8.9%-9.6pp | 0.7%+18.1pp | -17.4%-1.4pp | -16.0%-9.4pp | -6.6%-0.4pp | -6.3%+6.3pp | -12.5% |
| Return on Equity | -7.7%-4.5pp | -3.2%-3.4pp | 0.3%+6.6pp | -6.3%-0.5pp | -5.9%-3.4pp | -2.4%-0.3pp | -2.2%+2.0pp | -4.2% |
| Return on Assets | -5.8%-3.4pp | -2.5%-2.7pp | 0.2%+5.1pp | -4.9%-0.5pp | -4.4%-2.5pp | -1.9%-0.2pp | -1.7%+1.5pp | -3.2% |
| Current Ratio | 2.36-0.2 | 2.53+0.1 | 2.42-0.1 | 2.50+0.1 | 2.40-0.1 | 2.52+0.1 | 2.37-0.1 | 2.49 |
| Debt-to-Equity | 0.32+0.0 | 0.29-0.0 | 0.31+0.0 | 0.30-0.0 | 0.32+0.0 | 0.29-0.0 | 0.320.0 | 0.31 |
| FCF Margin | 1.1%-1.5pp | 2.5% | N/A | N/A | 6.3%+4.8pp | 1.6%+1.3pp | 0.3%+21.8pp | -21.4% |
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Frequently Asked Questions
What is Marchex Inc's annual revenue?
Marchex Inc (MCHX) reported $45.4M in total revenue for fiscal year 2025. This represents a -5.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marchex Inc's revenue growing?
Marchex Inc (MCHX) revenue declined by 5.6% year-over-year, from $48.1M to $45.4M in fiscal year 2025.
Is Marchex Inc profitable?
No, Marchex Inc (MCHX) reported a net income of -$5.2M in fiscal year 2025, with a net profit margin of -11.5%.
What is Marchex Inc's EBITDA?
Marchex Inc (MCHX) had EBITDA of -$4.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Marchex Inc's gross margin?
Marchex Inc (MCHX) had a gross margin of 63.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Marchex Inc's operating margin?
Marchex Inc (MCHX) had an operating margin of -12.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Marchex Inc's net profit margin?
Marchex Inc (MCHX) had a net profit margin of -11.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Marchex Inc's return on equity (ROE)?
Marchex Inc (MCHX) has a return on equity of -17.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Marchex Inc's free cash flow?
Marchex Inc (MCHX) generated -$1.4M in free cash flow during fiscal year 2025. This represents a 2.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Marchex Inc's operating cash flow?
Marchex Inc (MCHX) generated -$1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Marchex Inc's total assets?
Marchex Inc (MCHX) had $39.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Marchex Inc's capital expenditures?
Marchex Inc (MCHX) invested $36K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Marchex Inc spend on research and development?
Marchex Inc (MCHX) invested $9.7M in research and development during fiscal year 2025.
What is Marchex Inc's current ratio?
Marchex Inc (MCHX) had a current ratio of 2.36 as of fiscal year 2025, which is generally considered healthy.
What is Marchex Inc's debt-to-equity ratio?
Marchex Inc (MCHX) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Marchex Inc's return on assets (ROA)?
Marchex Inc (MCHX) had a return on assets of -13.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marchex Inc's cash runway?
Based on fiscal year 2025 data, Marchex Inc (MCHX) had $9.9M in cash against an annual operating cash burn of $1.4M. This gives an estimated cash runway of approximately 85 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Marchex Inc's Piotroski F-Score?
Marchex Inc (MCHX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marchex Inc's earnings high quality?
Marchex Inc (MCHX) has an earnings quality ratio of 0.27x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Marchex Inc?
Marchex Inc (MCHX) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.