MarketWise Inc

NASDAQ:MKTWUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Nov 7, 2024

Show headlines and story abstract

• Press Release: MarketWise Declares Dividend on Common Stock, from 5:17PM ET on Thursday Nov 07, 2024 by Dow Jones

  5:17PM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: MKTW
  
  MarketWise Declares Dividend on Common Stock
  
  BALTIMORE, Nov. 07, 2024 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ: MKTW) ("MarketWise" or "the Company"), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced that its Board of Directors declared a quarterly cash dividend to holders of Class A common stock of $0.01 per share on November 1, 2024. A comparable distribution of $0.01 per unit has also been approved to holders of MarketWise, LLC units. The dividend and distribution will be paid on December 26, 2024. The Record Date is November 25, 2024.
  

• MarketWise Declares Dividend on Common Stock, from 5:17PM ET on Thursday Nov 07, 2024 by Dow Jones

  5:17PM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: MKTW
  
  MarketWise Declares Dividend on Common Stock
  
  BALTIMORE, Nov. 07, 2024 (GLOBE NEWSWIRE) -- MarketWise, Inc. (NASDAQ: MKTW) ("MarketWise" or "the Company"), a leading multi-brand digital subscription services platform that provides premium financial research, software, education, and tools for self-directed investors, today announced that its Board of Directors declared a quarterly cash dividend to holders of Class A common stock of $0.01 per share on November 1, 2024. A comparable distribution of $0.01 per unit has also been approved to holders of MarketWise, LLC units. The dividend and distribution will be paid on December 26, 2024. The Record Date is November 25, 2024.
  

• -- Earnings Flash (MKTW) MARKETWISE LLC Posts Q3 Revenue $97.2M, from 9:08AM ET on Thursday Nov 07, 2024 by MT Newswires

  9:08AM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: MKTW
  09:08 AM EST, 11/07/2024 (MT Newswires) -- ...

• Press Release: MarketWise Reports Net Income of -2-, from 9:08AM ET on Thursday Nov 07, 2024 by Dow Jones

  9:08AM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: MKTW

• MarketWise Reports Net Income of $22.7 Million and Net Revenue of $97.2 Million for Third Quarter 2024, from 9:08AM ET on Thursday Nov 07, 2024 by Dow Jones

  9:08AM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: MKTW
  
  Table 2. Balance Sheet
  (Unaudited, in thousands, except share and per share data) September 30, 2024 December 31, 2023 -------------------- --------------------- Assets Current assets: Cash and cash equivalents $ 94,111 $ 155,174 Accounts receivable 2,224 4,528 Prepaid expenses 8,993 9,305 Related party receivables 930 5,182 Deferred contract acquisition costs 64,757 91,480 Other current assets 1,480 2,172 --------------- -------------- Total current assets 172,495 267,841 Property and equipment, net 567 690 Operating lease right-of-use assets 5,801 7,331 Intangible assets, net 7,687 6,255 Goodwill 33,560 31,038 Deferred contract acquisition costs, noncurrent 49,746 73,420 Deferred tax assets 8,469 9,693 Other assets 26 287 --------------- -------------- Total assets $ 278,351 $ 396,555 =============== ============== Liabilities and stockholders' deficit Current liabilities: Trade and other payables $ 2,326 $ 559 Related party payables, net 1,133 1,137 Accrued expenses 22,370 55,041 Deferred revenue and other contract liabilities 229,735 287,751 Operating lease liabilities 1,639 1,446 Other current liabilities 26,769 27,959 --------------- -------------- Total current liabilities 283,972 373,893 Long-term liabilities -- related party 316 -- Deferred revenue and other contract liabilities, noncurrent 233,096 304,342 Other liabilities, noncurrent 2,313 2,151 Related party tax receivable agreement liability, noncurrent 2,669 746 Operating lease liabilities, noncurrent 3,100 4,366 --------------- -------------- Total liabilities 525,466 685,498 --------------- -------------- Commitments and Contingencies -- -- Stockholders' deficit: Common stock - Class A, par value of $0.0001 per share, 950,000,000 shares authorized; 39,381,380 and 36,384,981 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 4 4 Common stock - Class B, par value of $0.0001 per share, 300,000,000 shares authorized; 279,890,147 and 288,092,303 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 28 29 Preferred stock - par value of $0.0001 per share, 100,000,000 shares authorized; 0 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively -- -- Additional paid-in capital 101,857 115,164 Accumulated other comprehensive income 56 65 Accumulated deficit (121,422) (126,343) --------------- -------------- Total stockholders' deficit attributable to MarketWise, Inc. (19,477) (11,081) Noncontrolling interest (227,638) (277,862) --------------- -------------- Total stockholders' deficit (247,115) (288,943) --------------- -------------- Total liabilities and stockholders' deficit $ 278,351 $ 396,555 =============== ==============