What is Marchex Inc's earnings per share (EPS)?

Marchex Inc (MCHX) reported diluted earnings per share of $-0.12 for fiscal year 2025. This represents a -9.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Marchex Inc Financials

MCHX

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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).

Rhea AI MCHX FY2025 2026-05-14

Marchex shows a high-gross-margin, asset-light model where shrinking revenue keeps the company from absorbing its fixed costs.

From FY2023 to FY2025, free cash burn improved from -$5.8M to -$1.4M even though revenue kept falling. The improvement came with capital spending down to $36K and receivables continuing to shrink, so the business is becoming far less cash-intensive before it has become profitable, which makes the current cash balance do more work than the loss line alone would imply.

Gross margin resilience above 63.0% in the last two years while sales kept slipping suggests the service itself still carries healthy economics. That is more consistent with a scale problem than with deteriorating delivery economics, because operating margin remained -12.6% even after R&D cuts.

With $9.9M of cash against $9.6M of total liabilities and no reported long-term debt, balance-sheet financing still looks conservative despite recurring losses. But roughly 44.0% of assets are goodwill, and the asset base keeps shrinking, so the cushion rests on fewer tangible resources than the headline asset total implies.

Financial Health Signals

Financial Health Score 53/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. 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.

Cash Runway

R&D Intensity

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Distress

-5.94

Marchex Inc scores -5.94, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($76.0M) relative to total liabilities ($9.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/7

Marchex Inc passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.27x

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

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Earnings & Revenue

Revenue

$45.4M

YoY-5.6%

5Y CAGR-2.4%

10Y CAGR-10.8%

Marchex Inc generated $45.4M in revenue in fiscal year 2025. This represents a decrease of 5.6% from the prior year.

EBITDA

-$4.4M

YoY-43.5%

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.

Net Income

-$5.2M

YoY-5.8%

Marchex Inc reported -$5.2M in net income in fiscal year 2025. This represents a decrease of 5.8% from the prior year.

EPS (Diluted)

$-0.12

YoY-9.1%

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

Free Cash Flow

-$1.4M

YoY+2.8%

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.

Cash & Debt

$9.9M

YoY-22.1%

5Y CAGR-21.7%

10Y CAGR-21.3%

Marchex Inc held $9.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

63.4%

YoY-0.9pp

5Y CAGR+4.2pp

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.

Operating Margin

-12.6%

YoY-3.4pp

5Y CAGR+73.4pp

10Y CAGR-12.3pp

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.

Net Margin

-11.5%

YoY-1.2pp

5Y CAGR+63.5pp

10Y CAGR-30.2pp

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.

Return on Equity

-17.4%

YoY-2.2pp

5Y CAGR+55.6pp

10Y CAGR-31.6pp

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

R&D Spending

$9.7M

YoY-21.5%

5Y CAGR-14.2%

10Y CAGR-10.9%

Marchex Inc invested $9.7M in research and development in fiscal year 2025. This represents a decrease of 21.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$36K

YoY-90.6%

5Y CAGR-51.6%

10Y CAGR-37.7%

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	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$45.4M-5.6%	$48.1M-3.6%	$49.9M-4.3%	$52.2M-2.4%	$53.5M+4.4%	$51.2M
Cost of Revenue	$16.6M-3.2%	$17.2M-16.6%	$20.6M+0.6%	$20.5M-5.7%	$21.7M+3.9%	$20.9M
Gross Profit	$28.8M-7.0%	$30.9M+5.5%	$29.3M-7.5%	$31.7M-0.2%	$31.8M+4.8%	$30.3M
R&D Expenses	$9.7M-21.5%	$12.4M-19.2%	$15.4M+7.0%	$14.4M-10.9%	$16.1M-23.3%	$21.0M
SG&A Expenses	$10.8M+5.5%	$10.2M+0.4%	$10.2M+4.3%	$9.8M+5.3%	$9.3M-27.4%	$12.8M
Operating Income	-$5.7M-28.7%	-$4.4M+53.9%	-$9.6M-18.3%	-$8.1M+30.9%	-$11.8M+73.2%	-$44.1M
Interest Expense	N/A	N/A	$282K	N/A	$37K+23.3%	$30K
Income Tax	$79K-79.2%	$380K+304.3%	$94K-48.9%	$184K-20.7%	$232K+112.1%	-$1.9M
Net Income	-$5.2M-5.8%	-$4.9M+50.1%	-$9.9M-20.2%	-$8.2M-87.8%	-$4.4M+88.6%	-$38.4M
EPS (Diluted)	$-0.12-9.1%	$-0.11+52.2%	$-0.23-21.1%	$-0.19-90.0%	$-0.10	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$10.6M-2.1%	$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
Cost of Revenue	$4.1M-1.0%	$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
Gross Profit	$6.5M-2.8%	$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
R&D Expenses	$2.4M+9.2%	$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
SG&A Expenses	$2.1M-7.1%	$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
Operating Income	-$1.4M+43.1%	-$2.4M-152.5%	-$941K-75.6%	-$536K+71.4%	-$1.9M-17.9%	-$1.6M-92.4%	-$825K-14.3%	-$722K
Interest Expense	$48K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$199K+426.2%	-$61K-325.9%	$27K+440.0%	$5K-95.4%	$108K-63.1%	$293K+1072.0%	$25K+733.3%	$3K
Net Income	-$1.7M+25.6%	-$2.3M-127.2%	-$1.0M-1314.3%	$84K+104.2%	-$2.0M-3.8%	-$1.9M-129.8%	-$831K-9.9%	-$756K
EPS (Diluted)	$-0.04	N/A	$-0.02	$0.00+100.0%	$-0.05	N/A	$-0.020.0%	$-0.02

MCHX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$39.7M-8.1%	$43.2M-9.0%	$47.5M-16.4%	$56.8M-13.7%	$65.8M-14.4%	$76.9M
Current Assets	$19.0M-14.5%	$22.3M-6.4%	$23.8M-22.9%	$30.9M-17.7%	$37.5M-11.4%	$42.3M
Cash & Equivalents	$9.9M-22.1%	$12.8M-12.6%	$14.6M-28.7%	$20.5M-24.4%	$27.1M-20.0%	$33.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.7M-5.7%	$7.1M-4.4%	$7.4M-11.9%	$8.4M+4.7%	$8.0M+26.7%	$6.3M
Goodwill	$17.6M0.0%	$17.6M0.0%	$17.6M0.0%	$17.6M0.0%	$17.6M0.0%	$17.6M
Total Liabilities	$9.6M-9.2%	$10.6M-9.0%	$11.6M-8.5%	$12.7M-11.5%	$14.3M-40.9%	$24.2M
Current Liabilities	$8.1M-13.0%	$9.3M-4.7%	$9.7M-19.4%	$12.1M-4.8%	$12.7M-39.5%	$21.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$30.1M-7.8%	$32.6M-9.0%	$35.9M-18.7%	$44.1M-14.3%	$51.5M-2.3%	$52.7M
Retained Earnings	-$331.4M-1.6%	-$326.2M-1.5%	-$321.2M-3.2%	-$311.3M-2.7%	-$303.1M-1.5%	-$298.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$38.5M-2.9%	$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
Current Assets	$18.1M-4.7%	$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
Cash & Equivalents	$9.0M-9.3%	$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
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.8M+2.3%	$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
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	$9.7M+1.0%	$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
Current Liabilities	$8.2M+1.5%	$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
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$28.9M-4.1%	$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
Retained Earnings	-$333.1M-0.5%	-$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

MCHX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$1.4M-27.5%	-$1.1M+74.9%	-$4.4M-91.8%	-$2.3M+63.9%	-$6.3M-88.0%	-$3.4M
Capital Expenditures	$36K-90.6%	$382K-72.3%	$1.4M-51.9%	$2.9M+112.1%	$1.4M-0.1%	$1.4M
Free Cash Flow	-$1.4M+2.8%	-$1.5M+74.3%	-$5.8M-11.9%	-$5.2M+33.0%	-$7.7M-62.8%	-$4.7M
Investing Cash Flow	-$1.3M-207.7%	-$429K+67.3%	-$1.3M+54.2%	-$2.9M-201.3%	-$951K-196.9%	$981K
Financing Cash Flow	-$97K+68.4%	-$307K-91.9%	-$160K+89.0%	-$1.5M-375.6%	$528K+109.6%	-$5.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$10.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$514K-524.8%	$121K-58.3%	$290K-63.9%	$803K+130.6%	-$2.6M-399.7%	$875K+129.1%	$382K+226.5%	$117K
Capital Expenditures	N/A	$5K	$0	N/A	N/A	$118K-35.5%	$183K+137.7%	$77K
Free Cash Flow	N/A	$116K-60.0%	$290K	N/A	N/A	$757K+280.4%	$199K+397.5%	$40K
Investing Cash Flow	-$411K+4.0%	-$428K-22.3%	-$350K-38.3%	-$253K+12.5%	-$289K-75.2%	-$165K+9.8%	-$183K-137.7%	-$77K
Financing Cash Flow	$2K+102.8%	-$72K+34.5%	-$110K-39.2%	-$79K-148.2%	$164K+881.0%	-$21K+78.6%	-$98K-3.2%	-$95K
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	63.4%-0.9pp	64.3%+5.6pp	58.8%-2.0pp	60.8%+1.3pp	59.4%+0.2pp	59.2%
Operating Margin	-12.6%-3.4pp	-9.2%+10.1pp	-19.3%-3.7pp	-15.6%+6.4pp	-22.1%+64.0pp	-86.0%
Net Margin	-11.5%-1.2pp	-10.3%+9.6pp	-19.9%-4.1pp	-15.8%-7.6pp	-8.2%+66.9pp	-75.1%
Return on Equity	-17.4%-2.2pp	-15.2%+12.5pp	-27.6%-8.9pp	-18.7%-10.2pp	-8.5%+64.5pp	-73.0%
Return on Assets	-13.2%-1.7pp	-11.5%+9.4pp	-20.9%-6.3pp	-14.5%-7.8pp	-6.7%+43.3pp	-50.0%
Current Ratio	2.36-0.0	2.40-0.0	2.45-0.1	2.56-0.4	2.96+0.9	2.02
Debt-to-Equity	0.320.0	0.320.0	0.32+0.0	0.290.0	0.28-0.2	0.46
FCF Margin	-3.2%-0.1pp	-3.1%+8.5pp	-11.6%-1.7pp	-9.9%+4.5pp	-14.4%-5.2pp	-9.2%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	61.2%-0.4pp	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%
Operating Margin	-12.7%+9.2pp	-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%
Net Margin	-16.2%+5.1pp	-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%
Return on Equity	-6.0%+1.7pp	-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%
Return on Assets	-4.5%+1.4pp	-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%
Current Ratio	2.22-0.1	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
Debt-to-Equity	0.34+0.0	0.32+0.0	0.29-0.0	0.31+0.0	0.30-0.0	0.32+0.0	0.29-0.0	0.32
FCF Margin	N/A	1.1%-1.5pp	2.5%	N/A	N/A	6.3%+4.8pp	1.6%+1.3pp	0.3%

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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 Altman Z-Score?

Marchex Inc (MCHX) has an Altman Z-Score of -5.94, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Marchex Inc's Piotroski F-Score?

Marchex Inc (MCHX) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.