MarketWise Q3 2023 net income $12M, revenue $106M; subscriber file down 13% YoY to 774K

MARKETWISE, INC.

2023-Q3 EPS reported $0.05 revenue$336,027,000

Q3 GAAP net income of $12.0M on revenue of $106.2M vs. $16.5M/$119.9M in Q3 2022.
Paid subscriber file 774,000 as of Sep 30, down 13.4% from 894,000 a year earlier.
Trailing 12-month Billings total $389.8M: Marketing $279.6M, Renewal $105.5M, Other $4.6M.
CEO cites cultural issues as primary reason for post-IPO underperformance; plans to restore partnership model.
Board declared special dividend of approx. $50M payable in December 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARKETWISE, INC. reported the third quarter ended September 30, 2023 results: revenue $106.2 million, net income $12.0 million.

Period: the third quarter ended September 30, 2023
Revenue: $106.2 million
Net income: $12.0 million
Result: reported results

Exact text from the filing

and improving the quality of our products. Third Quarter 2023 GAAP Results For the third quarter of 2023, MarketWise generated net income of $12.0 million on GAAP net revenue of $106.2 million. For the nine months ended September 30, 2023, MarketWise reported net income of $52.4 million on GAAP net revenue of $336.0 million. This compares with last year’s third-quarter

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MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-23-038022

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