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Marchex (MCHX) subleases Seattle office to RentSpree and records $203K impairment

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Marchex, Inc. entered into a Sublease Agreement with RentSpree, Inc. for its 12,300 square foot office space at 1200 5th Avenue, Suite 1300, Seattle, Washington. The term runs from May 1, 2026 through September 28, 2027.

RentSpree will pay fixed monthly rent over the term totaling approximately $337,000, with an initial rate of $19.25 per square foot, increasing after 12 months to $19.50 per square foot. In connection with this sublease, Marchex determined that the carrying value of its right‑of‑use asset for the space exceeds its estimated fair value and will record a noncash impairment charge of approximately $203,000 in its consolidated statement of operations for the quarter ending March 31, 2026.

Positive

  • None.

Negative

  • None.

Insights

Marchex subleases excess office space and records a modest noncash impairment.

Marchex is subleasing 12,300 square feet of Seattle office space to RentSpree from May 1, 2026 through September 28, 2027. RentSpree will pay fixed monthly rent totaling about $337,000, with rates of $19.25 and then $19.50 per square foot.

Because the sublease indicates lower economic value than previously assumed, Marchex determined its right-of-use asset for this space is impaired and will record a noncash charge of roughly $203,000 in the quarter ending March 31, 2026. This affects reported earnings but not cash flow.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.06 Material Impairments Financial
The company concluded that a material charge for impairment of assets (goodwill, intangibles, etc.) is required.
Total sublease rent $337,000 Fixed monthly rent over term of sublease
Initial rental rate $19.25 per square foot Beginning of sublease term
Increased rental rate $19.50 per square foot After 12 months of sublease
Impairment charge $203,000 Noncash charge in quarter ending March 31, 2026
Office size 12,300 square feet Seattle office space covered by sublease
Sublease start date May 1, 2026 Beginning of term with RentSpree
Sublease end date September 28, 2027 End of term with RentSpree
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Sublease Agreement financial
"entered into a Sublease Agreement (the “Sublease”) with RentSpree, Inc."
right-of-use asset financial
"the carrying value of its right‑of‑use asset associated with the underlying office space"
A right-of-use asset is the value a company records on its balance sheet for the practical use of something it leases — like the benefit of living in a rented office or using leased equipment for a set period. Investors care because it turns many leases into on-balance-sheet assets and matching liabilities, which can change reported leverage, asset base and performance metrics much like taking on a loan would.
noncash impairment charge financial
"the Company will record a noncash impairment charge related to the right‑of‑use asset"
consolidated statement of operations financial
"The impairment charge will be reflected in the Company’s consolidated statement of operations"
Understanding 8-K Material Events →
0001224133False00012241332026-04-292026-04-29

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 29, 2026

Marchex, Inc.

(Exact name of Registrant as Specified in its Charter)

 

 

 

Delaware

000-50658

35-2194038

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

 

1448 NW Market St, Suite 500,

Seattle, WA

98107

(Address of principal executive offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (206) 331-3300

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Class B Common Stock

 

MCHX

 

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

Item 1.01 Entry into a Material Definitive Agreement.

On April 29, 2026, Marchex, Inc., a Delaware corporation (the “Company”) entered into a Sublease Agreement (the “Sublease”) with RentSpree, Inc., a Delaware corporation (“RentSpree”), with respect to the sublease of the Company’s office space located at 1200 5th Avenue, Suite 1300, Seattle, Washington.

The term of the Sublease is May 1, 2026 through September 28, 2027 (the “Term”) and is for all 12,300 square feet.

Under the Sublease, RentSpree is obligated to pay to the Company fixed monthly rent over the Term totaling approximately $337,000, with an initial rate of $19.25 per square foot increasing after 12 months to $19.50 per square foot.

The description of the Sublease set forth herein does not purport to be complete and is qualified in its entirety by reference to the full text thereof, a copy of which will be filed as an exhibit to the Company’s next applicable periodic report or registration statement.

 

 

Item 2.06 Material Impairments.

The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

In connection with the Company’s entry into the Sublease Agreement with RentSpree described under Item 1.01 of this Current Report on Form 8‑K, the Company determined that the carrying value of its right‑of‑use asset associated with the underlying office space exceeds its estimated fair value.

As a result, the Company will record a noncash impairment charge related to the right‑of‑use asset during the first quarter of 2026. The impairment charge will be reflected in the Company’s consolidated statement of operations for the quarter ending March 31, 2026. The Company currently expects the impairment charge to be approximately $203,000. The final amount of the impairment charge may differ from this estimate as the Company completes its analysis of the transaction.

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, Marchex has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

MARCHEX, INC.

 

 

Date: May 1, 2026

By:

/s/ FRANCIS J. FEENEY

 

Name:

Francis J. Feeney

 

Title:

Corporate Secretary

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What office space did Marchex (MCHX) sublease to RentSpree?

Marchex subleased its office space at 1200 5th Avenue, Suite 1300, Seattle, Washington. The sublease covers all 12,300 square feet of that location for a defined term, transferring use of the premises to RentSpree under agreed rental terms.

What are the financial terms of Marchex (MCHX) sublease with RentSpree?

RentSpree will pay Marchex fixed monthly rent totaling approximately $337,000 over the sublease term. The initial rent is $19.25 per square foot, increasing after 12 months to $19.50 per square foot, providing predictable rental income to Marchex.

Why is Marchex (MCHX) recording an impairment on its right-of-use asset?

Marchex determined the carrying value of its right-of-use asset for the underlying office space exceeds its estimated fair value. This assessment is tied to the new sublease arrangement with RentSpree, triggering a noncash impairment charge consistent with accounting requirements.

When will Marchex (MCHX) recognize the impairment charge from the RentSpree sublease?

Marchex will recognize the noncash impairment charge related to the right-of-use asset in the first quarter of 2026. The charge will be reflected in the company’s consolidated statement of operations for the quarter ending March 31, 2026.

What is the term of Marchex (MCHX) sublease agreement with RentSpree?

The sublease term begins on May 1, 2026 and runs through September 28, 2027. During this period, RentSpree will occupy the full 12,300 square feet of the Seattle office space and pay fixed monthly rent to Marchex.

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