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Marchex Inc. (MCHX-2.90%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Marchex's use of AI and conversational intelligence to provide insights for businesses, focusing on optimizing customer interactions across various communication channels.
Revenue for 2024 was $48.1 million, a decrease from $49.9 million in 2023, primarily due to lower conversational volumes and non-recurring analytics revenue in the previous year.
Cost of revenue decreased by 17% to $17.2 million, attributed to reduced telecommunication costs and personnel expenses following team realignments.
Sales and marketing expenses rose by 6% to $12.1 million, driven by increased personnel costs to support sales initiatives.
Product development expenses fell by 19% to $12.4 million, reflecting lower personnel and contractor costs.
General and administrative expenses remained steady at $10.2 million.
The company reported a net loss of $4.9 million, an improvement from the $9.9 million loss in 2023, due to reduced operating expenses.
As of December 31, 2024, Marchex held $12.8 million in cash and cash equivalents, with total liabilities of $10.6 million.
The company continues to focus on AI-driven solutions and expanding its conversational intelligence offerings across various markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Marchex Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.