The raised EBITDA guidance and Archenia acquisition provide a potential catalyst, but the ongoing revenue decline and restructuring costs warrant caution. Watch for the proxy statement and stockholder vote on the Archenia deal in July 2026; a successful close could re-rate the stock on combined revenue growth trajectory.
Price Chart
Executive Summary
Marchex reported Q1 2026 revenue of $10.6M, down 6.9% YoY from $11.4M, and a GAAP net loss of $(0.04) per share, improving from $(0.05) a year ago. The headline numbers are weak with declining revenue, but the company raised its Q2 2026 Adjusted EBITDA guidance to $1.6-$1.8M (from prior >$1M) and signed a definitive agreement to acquire Archenia, which could transform the business. The cross-filing context of a recent restructuring (sublease/impairment) adds a bearish tint, but the raised EBITDA guidance and Archenia deal provide a counterbalance.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP revenue $10.6M vs $11.4M YoY (-6.9%)
- GAAP net loss $(0.04)/share vs $(0.05)/share YoY (improved)
- Adjusted EBITDA loss $(0.1)M vs $(0.8)M YoY, including $0.7M reorganization costs
- Raised Q2 2026 Adjusted EBITDA guidance to $1.6-$1.8M from prior >$1M
- Entered definitive Stock Purchase Agreement to acquire Archenia on May 8, 2026, expected to close in July 2026
- Archenia estimated 2025 revenue >$17M with positive Adjusted EBITDA
- Combined company projected run rate ~$60M annualized revenue, growing 15-20% in 2026
- Recent sublease/impairment (May 1, 2026) signals ongoing cost restructuring
Financial Impact
Revenue declined $0.8M YoY; Q2 EBITDA guidance raised by $0.6-0.8M vs prior; Archenia deal adds >$17M revenue but purchase price undisclosed
Risk Factors
- Revenue continues to decline YoY (-6.9%) with no near-term reversal guidance
- Archenia acquisition may not close or may be dilutive; purchase price undisclosed
- Restructuring costs ($0.7M in Q1) and sublease impairment ($0.2M) signal ongoing operational challenges
- Cash burn: cash decreased from $9.9M to $9.0M in Q1; limited runway for losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-221701 |
| Document: mchx-20260513.htm | 0001193125-26-221701 |
| Document: 0001193125-26-221701-index-headers.html | 0001193125-26-221701 |
| Document: 0001193125-26-221701-index.html | 0001193125-26-221701 |
| Document: 0001193125-26-221701.txt | 0001193125-26-221701 |
| 8-K Data (Synthetic) | 0001193125-26-221701 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Press Release | $1.29 | awaiting T+20 | — | $1.34 (+3.88%) |
Sep 22, 2026 5w ago | Press Release | $1.42 $1.28 | ▼ −9.86% | ▼ −9.30% | $1.34 (−5.63%) |
Aug 12, 2026 10w ago | 8-K | $1.82 $1.37 | ▼ −25.00% | ▼ −23.25% | $1.34 (−26.37%) |
Jun 5, 2026 20w ago | DEFM14A | $1.53 $1.76 | ▲ +15.03% | ▲ +13.40% | $1.34 (−12.42%) |
May 26, 2026 21w ago | PREM14A | $1.63 $1.50 | ▼ −7.98% | ▼ −6.07% | $1.34 (−17.79%) |
May 13, 2026 23w ago | 8-K | $1.62 $1.55 | ▼ −4.32% | ▼ −3.46% | $1.34 (−17.28%) |
May 13, 2026 23w ago | DEFA14A | $1.62 $1.55 | ▼ −4.32% | ▼ −3.46% | $1.34 (−17.28%) |
May 1, 2026 25w ago | 8-K | $1.73 $1.67 | ▼ −3.47% | ▼ −9.11% | $1.34 (−22.54%) |
Apr 17, 2026 27w ago | 10-K/A | $1.72 $1.66 | ▼ −3.49% | ▼ −7.69% | $1.34 (−22.09%) |
US Market Status
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