Marketwise Inc ( (MKTW) ) has released its Q4 earnings. Here is a breakdown of the information Marketwise Inc presented to its investors.
MarketWise Inc., a prominent digital subscription services platform, specializes in providing premium financial research, software, education, and tools for self-directed investors, operating primarily in the financial services sector.
MarketWise Inc. recently announced its financial results for the fourth quarter and full year of 2024, highlighting a net income of $93.1 million and net revenue of $408.7 million for the year. The company also revealed a stock repurchase program of up to $50 million.
Key financial metrics indicate a decrease in total net revenue by 8.8% and total billings by 37.5% for the year. However, the net income saw a significant increase of 71.5% compared to the previous year. The fourth quarter showed a net income of $26.4 million, up from $1.9 million in the same quarter of the previous year, despite a decline in paid subscribers from 737,000 to 506,000.
The company is optimistic about its future, with plans to complete a reverse stock split to enhance market perception and attract institutional investors. Additionally, the board has approved a $0.01 quarterly dividend, reflecting a commitment to returning capital to shareholders. MarketWise aims to continue its growth trajectory through strategic initiatives and capital allocation strategies.
Looking forward, MarketWise’s management is focused on driving growth and efficiency, leveraging its strategic plan to deliver higher returns for shareholders. The company anticipates continued top-line growth and improving margins as it progresses into 2025.