Marchex, Inc., the mobile ad analytics firm just announced disappointing financial results for Q2 2016. GAAP revenue was $34.4m compared to $35.3m for the same period in 2015.
Marchex earnings overview
The company noted progress within its sale metrics, added new clients and grew new client bookings by more than 50% during the first half of the year.
Marchex has continued to follow its omni-channel analytics strategy and says it was on track to deliver new products such as Display Analytics for broader availability shortly. Display Analytics let clients measure display and digital media ad effectiveness and the technology has already been integrated with over 40 mobile publishers globally.
In addition, Marchex integrated with Adobe’s Marketing Cloud for an improved return on ad spend among enterprise search marketers.
Pete Christothoulou, CEO, Marchex, said:
“We are disappointed with our Q2 financial results and revised 2016 outlook, which were primarily driven by a small number of our large clients that reduced their marketing spend,” said Pete Christothoulou, CEO. “It does not impact our long-term relationship with these clients or our belief in the Online-to-Offline opportunity. Our new client wins and strong customer feedback point to a growing pipeline. We are eager to see our strategic progress flow through to our financial performance and, ultimately, category leadership.”