MarketWise, Inc. reports news about its multi-brand digital subscription platform for self-directed investors. The company provides premium financial research, software, education and investment tools through direct-to-customer digital channels across mobile, desktop and tablet platforms.
Recurring MarketWise updates cover net revenue, billings, cash flow from operations, paid subscriber trends, retention and product strategy. Company news also includes board-approved capital allocation actions, including dividends on Class A common stock, comparable distributions on MarketWise, LLC units, share repurchase programs, investor presentations, and governance developments tied to strategic priorities and corporate proposals.
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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.