Marin Software Announces Fourth Quarter 2018 Financial Results

Marin Software Incorporated (NASDAQ: MRIN), a leading issuer of virtual marketing software for performance-driven advertisers and organizations, today announced economic effects for the fourth region and complete yr ended December 31, 2018.

“We noticed increasing adoption of our MarinOne platform inside the fourth zone,” stated Chris Lien, Chief Executive Officer of Marin Software. “All of our customers now have to get entry to our ultra-modern technology to assist them supply performance from their Search, Social and eCommerce marketing. Support for additional channels like Apple Search Ads and YouTube, along with our currently announced revenue share agreement with Google, will help us drive increase for our clients in 2019.”

Financial stock market data. Candlestick graph chart of the stock market, stock market data graph chart on the LED concept

Fourth Quarter 2018 Business and Product Release Highlights:

Expanded Marie gets admission to all clients, giving advertisers a more vast view into advertising performance across Search, Social and eCommerce advertising.
Added assist for Apple Search Ads and YouTube in Marie, supplying extra coverage for key publishers.
Increased Amazon Advertising spend managed via Marin by means of eighty-five % from the primary zone to the fourth sector of 2018.
Published case research highlighting the hit performance outcomes driven by Marin Bidding for Amazon Sponsored Products.
Launched help for Google Expanded Text Ads Enhancements, permitting longer ad reproduction, in particular for commercials walking on the cell.
Certified with the aid of Google as one of the simplest click-size companies to degree pick ad interplay events that arise on Google-hosted houses globally, inclusive of Showcase Shopping Ads, Local Inventory Ads, and Model Automotive Ads.
Debuted Marin Social Pacing Dashboard, a real-time view into overall performance in opposition to configurable objectives on Facebook.
Introduced Dynamic Product Ads for Auto on Social, which are a manner to combine easy automation with segmented concentrated on for potentialities that are lower in the acquisition funnel.
Entered into and introduced a 3-12 months revenue proportion agreement with Google via which Marin will obtain quarterly payments from Google to further develop Marin’s organization technology platform and software products.

Fourth Quarter 2018 Financial Updates:

Net revenues totaled $15.8 million, a year-over-yr decrease of eleven% when as compared to $17.7 million within the fourth area of 2017.
GAAP loss from operations become ($3.Zero) million, resulting in a GAAP running margin of (19%), in comparison to a GAAP loss from operations of ($7.5) million and a GAAP working margin of (42%) for the fourth area of 2017.
Non-GAAP loss from operations was ($0.6) million, ensuing in a non-GAAP operating margin of (4%), as compared to a non-GAAP loss from operations of ($5.4) million and a non-GAAP working margin of (31%) for the fourth area of 2017.

The full Year 2018 Financial Updates:


Net sales totaled $58.6 million, a 12 months-over-year lower of twenty-two% when in comparison to $75.0 million in 2017.
GAAP loss from operations become ($42.3) million, ensuing in a GAAP working margin of (72%), in comparison to a GAAP loss from operations of ($30.Three) million and a GAAP working margin of (40%) for 2017.
Non-GAAP loss from operations was ($17.Five) million, resulting in a non-GAAP working margin of (30%), in comparison to a non-GAAP loss from operations of ($18.3) million and a non-GAAP operating margin of (24%) for 2017.
Cash, cash equivalents and restrained cash totaled $eleven.5 million as of December 31, 2018, compared to $28.8 million as of December 31, 2017.

Reconciliations of GAAP to non-GAAP monetary measures were supplied inside the monetary assertion tables blanketed on this press release. An explanation of those measures is likewise blanketed below, underneath the heading “Non-GAAP Financial Measures.”

Financial Outlook:

Marin is supplying guidance for its first quarter of 2019 as follows:

Forward-Looking Guidance

In hundreds of thousands


Range of Estimate



Three Months Ending March 31, 2019

Revenues, internet





Non-GAAP loss from operations



Non-GAAP loss from operations excludes the consequences of inventory-based total repayment, amortization of internally advanced software and intangible assets, impairment of goodwill and long-lived assets, capitalization of the internally developed software program and non-ordinary fees related to restructurings.

Additionally, the Company does not reconcile its forward-looking non-GAAP loss from operations, due to variability among sales and non-cash items which includes stock-based total repayment. The GAAP loss from operations consists of inventory-primarily based compensation fee, which is laid low with hiring and retention needs, in addition to the destiny fee of Marin’s stock. As a result, a reconciliation of the forward-searching non-GAAP economic measures to the corresponding GAAP measures cannot be made with the out unreasonable attempt.

Quarterly Results Conference Call

Marin Software will host a conference name nowadays at 2:00 PM Pacific Time (five:00 PM Eastern Time) to study the Company’s economic results for the zone and complete 12 months ended December 31, 2018, and its outlook for the future. To access the call, please dial (877) 705-6003 inside the United States or (201) 493-6725 across the world with regards to the agency name and conference name. A live webcast of the convention name could be on hand at http://public.Viavid.Com/index.Hypertext Preprocessor?Identification=133029. Following the completion of the decision through 11:59 p.M. Eastern Time on February 21, 2019, a recorded replay may be available for replay at the Company’s internet site at http://investor.Marinsoftware.Com/ and a telephone replay might be to be had via dialing (844) 512-2921 within the United States or (412) 317-6671 the world over with the recording get right of entry to code 13686928.

About Marin Software

Marin Software Incorporated’s (NASDAQ: MRIN) project is to offer advertisers the energy to force higher efficiency and transparency of their paid advertising programs that run on the world’s biggest publishers. Marin provides employer marketing software program for advertisers and businesses to combine, align, and increase their virtual advertising spend throughout the internet and cellular devices. Offering unified SaaS advertising and marketing management platform for seeking, social, and eCommerce marketing, Marin enables digital marketers to convert particular audiences, improve monetary performance, and make better decisions. Headquartered in San Francisco, with places of work worldwide, Marin’s technology powers advertising campaigns around the world. For more facts approximately Marin Software, please go to http://www.Marinsoftware.Com.

Non-GAAP Financial Measures

Marin makes use of certain non-GAAP financial measures in this release. Marin makes use of those non-GAAP monetary measures internally in reading its financial results and believes they’re beneficial to buyers, as a complement to GAAP measures, in evaluating its ongoing operational performance. Marin believes that the use of these non-GAAP economic measures gives a further device for buyers to apply in evaluating ongoing running outcomes and developments and in comparing our financial results with different agencies in our industry, a lot of which present similar non-GAAP financial measures to traders. Non-GAAP economic measures that Marin makes use of may additionally fluctuate from measures that different organizations may also use.

Non-GAAP economic measures should no longer be considered in isolation from, or alternatively, for, economic facts prepared according to GAAP. A reconciliation of the non-GAAP monetary measures to their maximum directly similar GAAP measures has been supplied in the economic declaration tables blanketed under on this press launch. Investors are advocated to study the reconciliation of those non-GAAP financial measures to their most immediately similar GAAP monetary measures.

Non-GAAP charges, measures and internet loss in step with proportion. Marin defines non-GAAP income and advertising and marketing, non-GAAP studies and improvement, non-GAAP general and administrative, non-GAAP gross income, non-GAAP running loss and non-GAAP net loss because the respective GAAP balances, adjusted for stock-based totally compensation, amortization of internally developed software program, intangible belongings and deferred prices to obtain and satisfy contracts, impairment of goodwill and long-lived property, non-coins fees associated with debt agreements, capitalization of internally evolved software program, deferral of costs to achieve and satisfy contracts and non-habitual costs related to restructurings. Non-GAAP internet loss consistent with proportion is calculated as non-GAAP internet loss divided by the weighted average shares superb.

Adjusted EBITDA. Marin defines Adjusted EBITDA as internet loss, adjusted for inventory-primarily based reimbursement fee, depreciation, amortization of internally advanced software, intangible property and deferred costs to reap and satisfy contracts, capitalization of internally developed software, deferral of fees to gain and satisfy contracts, impairment of goodwill and lengthy-lived property, provision for profits taxes, other income or charges, internet and non-recurring costs associated with restructurings. These quantities are regularly excluded through different groups to assist traders to recognize the operational overall performance in their commercial enterprise. The Company uses Adjusted EBITDA as a dimension of its operating performance because it assists in evaluating the running overall performance on a regular basis by way of removing the effect of certain non-cash and non-running gadgets. Adjusted EBITDA displays a further way of viewing components of the operations that Marin believes, whilst regarded with the GAAP outcomes and the accompanying reconciliations to corresponding GAAP economic measures, provide greater entire information of factors and traits affecting its commercial enterprise.