Marin Software (MRIN) Reports Q4 Loss of $0.08

Marin Software (NASDAQ: MRIN) reported Q4 EPS of ($0.08), versus ($0.40) reported last year. Revenue for the quarter came in at $11.35 million versus the consensus estimate of $30.3 million.

Fourth Quarter 2019 Business and Product Release Highlights:

• Added support for Google's Prominence Metrics in MarinOne, including dimension roll-up by keyword, keyword grid, group grid, and campaign grid, giving our customers a faster way to aggregate their data and gain a better understanding of where their ads appear on the Search Engine Results Page.
• Enhanced campaign management for Amazon Sponsored Product Ads, which works in conjunction with our bidding algorithm, report building, and dimension support, giving Marin more end-to-end functionality than the native Amazon Advertising tool.
• Integrated conversion data from the Amazon Attribution beta into Marin, helping advertising activity by providing visibility into conversions that happen on Amazon.
• Released improvements to MarinOne, including better app consistency for navigating between Marin Search and MarinOne, Bulk Upload, Cross-Client Reports to better analyze performance across multiple clients, Bid Strategy Side Panel enhancements, easier edits to saved reports, and Dimensions on the Devices tab.
• Added support for Microsoft Local Inventory Ads Placement, giving advertisers extended reach in the Bing ecosystem.
• Released the activity log for Audience Hub, enabling advertisers to monitor all activities related to audience file upload in MarinOne.
• Added support for Facebook Campaign Budget Optimization, which eliminates the need to manually shift budgets between ad sets, and track and recalculate budgets mid-flight.

Fourth Quarter 2019 Financial Updates:

• Net revenues totaled $11.4 million, a year-over-year decrease of 28% when compared to $15.8 million in the fourth quarter of 2018.
• GAAP loss from operations was ($6.2) million, resulting in a GAAP operating margin of (54%), as compared to a GAAP loss from operations of ($3.0) million and a GAAP operating margin of (19%) for the fourth quarter of 2018.
• Non-GAAP loss from operations was ($2.1) million, resulting in a non-GAAP operating margin of (19%), as compared to a non-GAAP loss from operations of ($0.7) million and a non-GAAP operating margin of (5%) for the fourth quarter of 2018.
• Completed the divestiture of our Perfect Audience business for net proceeds of $4.3 million, and recognized a gain on divestiture of $5.1 million.

"As Your Ally in Digital for the world's leading brands, in Q4 2019, Marin continued to expand the capabilities of MarinOne, our next-generation, omni-channel marketing platform," said Chris Lien, Chief Executive Officer of Marin Software. "We believe by enabling the holistic management of digital advertising investments across search, social, and e-commerce channels, brands will enjoy improved revenue growth and customer acquisition."

GUIDANCE:

Marin Software sees FY2020 revenue of $8.3-8.8 million.

For earnings history and earnings-related data on Marin Software (MRIN) click here.

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