MarketWise Q2 revenue falls 19% to $103.6M; paid subscribers drop 16.5% to 750K

MARKETWISE, INC.

2023-Q2 EPS reported $0.05 revenue$229,877,000

Total net revenue $103.6M, down 19.1% YoY; net income $9.7M, down 71.5% from $34.0M.
Paid subscribers 750K, down 16.5% YoY; ARPU $490, down 15.5% from $580.
Billings $96.2M, down 18.1% YoY; deferred revenue $628.4M vs $701.1M a year ago.
Cash from operations $29.0M, up 8.2% YoY; adjusted CFFO margin improved to 30.1% from 22.8%.
Total subscribers grew 5.2% to 16.7M, driven by free subs; active free subs declined to 3.9M from 4.3M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARKETWISE, INC. reported second quarter ended June 30, 2023 results: revenue $103.6 million, net income $9.7 million.

Period: second quarter ended June 30, 2023
Revenue: $103.6 million
Net income: $9.7 million
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- MarketWise Reports Financial Results for Second Quarter 2023 ~ Total Subscribers of 16.7 Million, Including 750 Thousand Paid Subscribers ~ ~ Revenues of $103.6 Million ~ ~ Billings of $96.2 Million ~ ~ Net Income of $9.7 Million ~ ~ CFFO and Adjusted CFFO of $29.0 Million ~ BALTIMORE, MD -- (GLOBE NEWSWIRE)—MarketWise, Inc. (NASDAQ: MKTW)

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Source: SEC EDGAR

accession 0001628280-23-028737

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