The Q1 revenue decline is a clear negative, but the raised Q2 EBITDA guidance and Archenia acquisition narrative provide a potential catalyst. Traders should watch for the proxy statement filing and stockholder vote on the Archenia deal, as well as Q2 results to see if sequential revenue growth materializes. The stock's small cap and low liquidity amplify moves on binary outcomes.
Price Chart
Executive Summary
Marchex reported Q1 2026 revenue of $10.6M (down 7% YoY from $11.4M) and a net loss of $1.7M, improved from a $2.0M loss a year ago. The company provided upbeat forward guidance for Q2 and Q3 2026, raised its Q2 Adjusted EBITDA guidance to $1.6–$1.8M, and updated progress on its planned acquisition of Archenia, which requires disinterested stockholder approval and is expected to close in July 2026.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP revenue $10.6M vs $11.4M in Q1 2025 (YoY decline of ~7%)
- Q1 2026 net loss $1.7M ($0.04/diluted share) vs $2.0M loss ($0.05/share) in Q1 2025
- Q1 2026 Adjusted EBITDA loss of $0.1M, improving from a $0.8M loss in Q1 2025; excluding $0.7M reorganization/acquisition costs, Adjusted EBITDA gain would be $0.6M
- Q2 2026 Adjusted EBITDA guidance raised to $1.6–$1.8M (from prior >$1M); revenue expected to increase sequentially
- Q3 2026 stand-alone Adjusted EBITDA guidance ~$2M; combined with Archenia potentially ~$2.5M or more
- Marchex entered into a Stock Purchase Agreement on May 8, 2026 to acquire 100% of Archenia; transaction requires disinterested stockholder approval, expected to close in July 2026
- Special Committee of independent directors approved the SPA; Craig-Hallum provided fairness opinion; DLA Piper served as independent legal counsel
- Combined company revenue run rate estimated at ~$15M quarterly (~$60M annualized) with potential 15–20% growth in 2026 (forward-looking, not historical)
- Cash and cash equivalents $9.0M at March 31, 2026 vs $9.9M at December 31, 2025
Financial Impact
Q1 2026 revenue declined ~$0.8M YoY (7%); net loss improved by ~$0.3M. Forward guidance implies sequential revenue growth and Adjusted EBITDA improvement to $1.6–$1.8M in Q2 2026. The Archenia acquisition could add ~$15M quarterly revenue run rate if closed.
Risk Factors
- Archenia acquisition requires disinterested stockholder approval and may not close
- Revenue declined YoY for Q1 2026; forward guidance is aspirational and not guaranteed
- Cash burn continues; cash decreased ~$0.9M from year-end 2025
- Related-party transaction structure introduces governance risk
- Low market cap ($70M) and limited analyst coverage increase volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001193125-26-221700 |
| Document: defa14a_-_q1_2026_earnin.htm | 0001193125-26-221700 |
| Document: 0001193125-26-221700-index-headers.html | 0001193125-26-221700 |
| Document: 0001193125-26-221700-index.html | 0001193125-26-221700 |
| Document: 0001193125-26-221700.txt | 0001193125-26-221700 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Press Release | $1.42 $1.28 | ▼ −9.86% | ▼ −9.30% | $1.26 (−11.27%) |
Aug 12, 2026 10w ago | 8-K | $1.82 $1.37 | ▼ −25.00% | ▼ −23.25% | $1.26 (−30.77%) |
Jun 5, 2026 20w ago | DEFM14A | $1.53 $1.76 | ▲ +15.03% | ▲ +13.40% | $1.26 (−17.65%) |
May 26, 2026 21w ago | PREM14A | $1.63 $1.50 | ▼ −7.98% | ▼ −6.07% | $1.26 (−22.70%) |
May 13, 2026 23w ago | 8-K | $1.62 $1.55 | ▼ −4.32% | ▼ −3.46% | $1.26 (−22.22%) |
May 13, 2026 23w ago | DEFA14A | $1.62 $1.55 | ▼ −4.32% | ▼ −3.46% | $1.26 (−22.22%) |
May 1, 2026 25w ago | 8-K | $1.73 $1.67 | ▼ −3.47% | ▼ −9.11% | $1.26 (−27.17%) |
Apr 17, 2026 27w ago | 10-K/A | $1.72 $1.66 | ▼ −3.49% | ▼ −7.69% | $1.26 (−26.74%) |
US Market Status
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