Welcome to our dedicated page for Marketwise news (Ticker: MKTW), a resource for investors and traders seeking the latest updates and insights on Marketwise stock.
MarketWise Inc (NASDAQ: MKTW) provides investors and financial professionals with centralized access to official corporate communications and market-moving developments. This resource aggregates essential updates including earnings announcements, product launches, strategic partnerships, and leadership changes from the multi-brand financial research platform.
Users gain streamlined tracking of material events through verified press releases and objective news coverage. The curated collection serves investors requiring timely insights into operational milestones, regulatory filings, and technology initiatives across MarketWise's 12 consumer-facing brands.
Key updates include quarterly financial results, subscription model enhancements, research methodology improvements, and platform feature rollouts. Content is organized chronologically showcase the company's evolution while maintaining strict adherence to factual reporting standards.
Bookmark this page for efficient monitoring of MarketWise's corporate trajectory, with new developments added as they become publicly available through official channels.
MarketWise, Inc. reported FY 2022 revenues of $512.4 million, down 6.7% from FY 2021. Q4 2022 revenues also fell 13.0% to $127.7 million. While overall billings decreased 37.0% to $459.5 million for the year, the company achieved a net income of $101.2 million compared to a significant loss of $953.9 million in FY 2021. Paid subscribers dropped 13.4% to 841,000, while free subscribers increased by 14.6% to 15.7 million. MarketWise undertook successful cost-cutting measures, exceeding the target of $74 million in reductions, leading to improved cash flow margins.
MarketWise, Inc. (NASDAQ: MKTW) will announce its fourth quarter and full year 2022 financial results on March 30, 2023, prior to market opening. A conference call will follow at 11:00 a.m. ET to discuss these results. Interested parties can join the call by dialing 1-877-407-4018 (international: 1-201-689-8471) or listen via the webcast on the investor relations section of the MarketWise website. A replay will be available after the call until April 13, 2023. MarketWise is recognized for its multi-brand digital subscription services, offering over 190 products aimed at self-directed investors, providing premium financial research, software, and education.
MarketWise, Inc. (NASDAQ: MKTW) announced the appointment of Amber Lee Mason as Chief Executive Officer, effective immediately, following Dr. Stephen Sjuggerud's resignation as Interim CEO. Mason, who served as Co-CEO of Legacy Research Group, successfully grew revenues significantly and established a multi-brand structure currently utilized by MarketWise's affiliates. With nearly two decades at MarketWise, she emphasizes delivering accessible investment ideas and maintaining subscriber relationships. Mason expresses confidence in the company's ability to leverage growth opportunities despite market challenges, positioning it well for the future.
MarketWise, Inc. (NASDAQ: MKTW) announced the resignation of Mark Arnold as Chairman and CEO, effective immediately. The Board has appointed Dr. Stephen Sjuggerud as interim CEO. Mark Arnold played a pivotal role in the company's growth and transition to a public entity. Dr. Sjuggerud, a veteran at MarketWise since 2001, oversees the True Wealth franchise, which boasts over 100,000 paid subscriptions. The Board has engaged Heidrick and Struggles to facilitate the search for a permanent CEO.
MarketWise reported a total of 16.3 million subscribers with 894,000 paid subscribers for Q3 2022. Revenues fell to $119.9 million from $140.7 million, a decline of 14.8% year-over-year. Total billings also decreased by 23.9% to $105.1 million. However, the company achieved a positive net income of $16.5 million compared to a net loss of $366.3 million in Q3 2021, primarily due to lower stock-based compensation expenses. Adjusted cash flow from operations dropped 62.2% to $13.1 million.
MarketWise, Inc. (NASDAQ: MKTW) will release its third quarter 2022 financial results before the market opens on November 3, 2022. The company will hold a conference call at 11:00 a.m. ET that day to discuss these results. Interested parties can listen live by dialing 1-877-407-4018 (or 1-201-689-8471 for international calls). A replay will be available after the call and accessible until November 17, 2022. Founded to assist self-directed investors, MarketWise offers over 180 products across various financial research and education platforms, serving around 16 million subscribers.
MarketWise (NASDAQ: MKTW) has successfully completed its exchange offer and consent solicitation for outstanding public and private placement warrants, issuing 5,725,681 shares of Class A common stock in return. The company’s post-offer exchange will apply a 10% lower exchange ratio, resulting in approximately 33,873,591 shares of Class A common stock allocated by September 30, 2022. Following these actions, no warrants will remain outstanding, leading to the delisting of public warrants from Nasdaq. The increase in shares can impact shareholder dilution and trading liquidity.
MarketWise, Inc. (NASDAQ: MKTW) announced the expiration of its exchange offer and consent solicitation for outstanding warrants, with approximately 96% of warrants tendered. The Company plans to accept all validly tendered warrants for exchange by September 19, 2022. Following this, each outstanding warrant will be exchanged for 0.17325 shares of Class A common stock, resulting in a significant increase in the number of shares outstanding. The public warrants will be suspended and delisted from Nasdaq. The Company aims to enhance its capital structure through this process.
MarketWise, Inc. (NASDAQ: MKTW) announced an exchange offer and consent solicitation for its outstanding public and private placement warrants. The offer aims to simplify the capital structure and mitigate potential dilution, offering 0.1925 shares of Class A common stock for each warrant tendered. Additionally, the company seeks consent to amend the Warrant Agreement for a lower exchange ratio of 0.17325 shares post-offer. Approximately 57.9% of public and 52.4% of private placement warrant holders have agreed to participate. The offering period ends on September 14, 2022.
MarketWise, Inc. (NASDAQ: MKTW) announced its second quarter 2022 financial results will be released on August 8, 2022, before the market opens. The conference call to discuss these results will take place at 11:00 a.m. Eastern Time on the same day. Investors can join by phone or listen via webcast on the company's investor relations website. MarketWise has over two decades of experience, serving approximately 15 million subscribers with its multi-brand digital subscription service, which offers financial research, education, and tools for self-directed investors.
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