MarketWise Q1 GAAP revenue $109M (-13% YoY), net income $22.7M, launches compensation overhaul

MARKETWISE, INC.

2024-Q1 EPS reported $0.04 revenue$108,991,000

Net income $22.7M on revenue $109.0M vs $30.6M on $126.2M in Q1 2023.
Paid subscribers fell to 683k from 777k YoY; headcount cut 20%+ to 535.
Legacy Research billings dropped from $30M to $16M QoQ; expects further declines.
Repurchased 7.2M LLC units from terminated managers for $10.8M at discount.
Jeff Brown returns to relaunch Brownstone Research; all staff get stock grant July 1.

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 first quarter ended March 31, 2024 results: revenue $109.0 million, net income $22.7 million.

Period: the first quarter ended March 31, 2024
Revenue: $109.0 million
Net income: $22.7 million
Result: reported results

Exact text from the filing

For the first quarter of 2024, MarketWise generated net income of $22.7 million on Generally Accepted Accounting Principles (GAAP) net revenue of $109.0 million.

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MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-24-023649

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