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Marin Software Releases 3Q 2014 Financial Results [Professional Services Close - Up]
[November 10, 2014]

Marin Software Releases 3Q 2014 Financial Results [Professional Services Close - Up]


(Professional Services Close - Up Via Acquire Media NewsEdge) Marin Software has reported financial results for the third quarter ended September 30.

"We took several important steps to support our continued growth and long-term vision," said David A. Yovanno, Chief Executive Officer of Marin. "The Ad Cloud market is large and changing rapidly. We believe that we are the only independent vendor to support the three major components of this market - search, display and social - and are well positioned to capitalize on the evolving needs of advertisers around the globe." In its release on November 5, the Company noted third quarter 2014 financial highlights: -Net Revenues: Net revenues totaled $25.7 million, a year-over- year increase of 28 percent when compared to $20.1 million in the third quarter of 2013.



-Gross profit: GAAP gross profit was $16.5 million, resulting in gross margin of 64 percent, compared to GAAP gross margin of 61 percent during the third quarter of 2013. Non-GAAP gross profit was $17.4 million, resulting in non-GAAP gross margin of 68 percent, compared to non-GAAP gross margin of 63 percent during the third quarter of 2013.

-Loss from operations: GAAP loss from operations was ($9.2) million, compared to ($7.9) million for the third quarter of 2013. GAAP operating margin was (36 percent), compared to (39 percent) during the third quarter of 2013. Non-GAAP loss from operations was ($6.3) million, compared to ($7.2) million for the third quarter of 2013. Non-GAAP operating margin was (25 percent), compared to (36 percent) during the third quarter of 2013.


-Net loss: Net loss was ($9.2) million or ($0.27) per share based on 34.8 million weighted average shares outstanding. This compares to a net loss of ($8.2) million or ($0.25) per share based upon 32.5 million weighted average shares outstanding for the third quarter of 2013.

-Non-GAAP net loss: Non-GAAP net loss was ($6.4) million or ($0.18) per share based upon 34.8 million weighted average shares outstanding. This compares to ($7.4) million or ($0.23) per share based on 32.5 million weighted average shares outstanding during the third quarter of 2013.

-Adjusted EBITDA: Adjusted EBITDA was ($4.9) million, as compared to ($5.9) million for the third quarter of 2013.

-Balance Sheet: As of September 30, cash and cash equivalents totaled $75.8 million, compared to $104.4 million as of December 31, 2013.

Third Quarter 2014 Business Highlights -Launched the Marin Audience Marketing Suite (AMS). The unified platform combines the power of search intent data with other 1st, 2nd and 3rd party data to find and convert marketers' most profitable audiences. By fusing this data from the once disparate sources of search, social and display campaigns, marketers can now synchronously identify and target their highest-value audiences across digital channels and devices.

-Developed support for Atlas, an ad-serving and measurement platform owned by Facebook. Marin customers are able to mirror ad campaigns in both platforms, report on keyword-level data and access de-duplicated conversion data to further optimize and improve campaign results on Facebook and the web.

-Added support for Yandex, Russia's largest search engine. Digital marketers can now analyze, report, and automate bidding of paid search campaigns on Yandex directly within the Marin platform, saving time and improving the financial return of search campaigns. By marrying impression, click, and cost data with conversion and revenue data, Marin provides a complete view of the ROI and effectiveness of paid search campaigns on Yandex.

-) an integration with Salesforce which helps marketers optimize search, social, and display campaigns by incorporating CRM data. Marin customers with this integration can see lead, opportunity, sale, and revenue information from Salesforce in the Marin platform. The integration allows advertisers to have a turnkey solution to optimize search, social and display campaigns leveraging their valuable CRM data.

-Launched support for Google Shopping Campaigns, the next generation version of Google Product Listing Ads (PLAs) for retailers. With this support, Marin becomes the only independent digital marketing platform to offer automated campaign creation, inventory management and feed management capabilities for Shopping Campaigns.

-Increased the number of active advertisers leveraging the Marin platform. During the third quarter, 825 active advertisers utilized the Marin platform, as compared to 610 that utilized the Marin platform during the third quarter of 2013. Marin defines active advertisers as an advertiser from whom Marin recognized revenues in excess of $2,000 in at least one month during the quarter.

Marin Software provides a cross-channel performance advertising cloud solution.

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