From GlobeNewswire: 2024-11-07 09:08:00

MarketWise, Inc. reported financial results for the third quarter of 2024. Paid Subscribers decreased to 592 thousand from 774 thousand in 2023, with Total Net Revenue at $97.2 million and Net Income at $22.7 million. Cash and Cash Equivalents were $94.1 million as of September 30, 2024. The company’s CEO remains optimistic about progress and future growth in revenue and margins.

For the first nine months of 2024, Total Net Revenue was $311.2 million, a 7% decrease from the prior year. Total Billings were $183.7 million, a 36.4% decrease, while Net Income increased by 27% to $66.7 million. Net Cash Used in Operating Activities was $28.1 million, compared to Net Cash Provided by Operating Activities of $44.9 million in the same period last year.

MarketWise’s Class A common stock trades on the NASDAQ Global Market under the symbol “MKTW”. The company had 39,381,380 Class A common shares and 279,890,147 Class B common shares issued and outstanding as of September 30, 2024. MarketWise is focused on providing premium financial research, software, education, and tools for investors to lead a healthier and wealthier life.

Adjusted CFFO and Adjusted CFFO Margin are key financial metrics that MarketWise uses to evaluate cash generation ability. Adjusted CFFO is defined as cash flow from operations plus or minus any non-recurring items. Adjusted CFFO Margin is Adjusted CFFO as a percentage of Billings. These metrics help in assessing the company’s ongoing operations and planning for future growth strategies.



Read more at GlobeNewswire:: MarketWise Reports Net Income of $22.7 Million and Net