Marin Software Incorporated (MRIN) shares surged 59.65% in after-hours on Wednesday, June 23, 2021, and closed the day at $2.73 per share. Earlier, MRIN’s stock gained 1.79% to close Wednesday’s session at $1.71 per share. MRIN shares have risen 14.00% over the last 12 months, and they have moved up 4.27% in the past week. Over the past three months, the stock has lost 2.84%, while over the past six months, it has declined 18.18%.
Let’s have a look at its recent news and developments.
Integration with Instacart Ads
On June 23, 2021, Marin Software added the ability to manage Instacart Ads to its flagship MarinOne platform. This integration makes it easier for brands to connect with customers directly at the point of sale.
Instacart is the leading online grocery platform in North America. Marin is bringing its experience helping advertisers optimize over $40 billion in digital advertising spend to the rapidly growing platform.
Recent financial results announcement
On May 6, 2021, Marin Software Incorporated released its financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- Marin Software reported revenue of $6.3 million for Q1 2021 compared to $8.7 million in the first quarter of 2020.
- GAAP operating loss was $4million for Q1 2021 compared to $4.4 million for the first quarter of 2020.
- Non-GAAP operating loss was $2.5 million in Q1 2021 compared to a non-GAAP operating loss of $3.5 million in Q1 2020.
- Total operating expenses were $5.51 million for Q1 2021, compared to $7.73 million for Q1 2020.
- The company suffered a net loss of $2.12 million in Q1 2021 compared to a $7.73 million net loss in Q1 2020.
- Net loss per common share, basic and diluted was $0.21 in Q1 2021 compared to $0.58 in Q1 2020.
Q2 2021 financial outlook
For the 2nd quarter of 2021, the company is expecting
- Revenue to be between $5.5 million to $6.0 million.
- Non-GAAP operating loss to be between $3.4 million to 2.9 million.
Q4 & FY 2020 financial results
On February 25, 2021, Marin Software Incorporated reported its financial results for the fourth quarter and full-year ended December 31, 2020.
Q4 2020 financial highlights
- The company reported net revenues of$7.3 million for Q4 2020 compared to $11.4 million in the fourth quarter of 2019.
- In Q4 2020, GAAP operating loss was $3.1 million compared to GAAP operating loss of $6.2 million in Q4 2019.
- Non-GAAP operating loss was $2.5 million in Q4 2020 compared to a non-GAAP operating loss of $2.1 million in the fourth quarter of 2019.
- Total operating expenses were $6.64 million in Q4 2020 compared to $12.03 million in Q4 2019.
The integration of Instacart Ads was the reason behind its exceptional performance in the after-hours on Wednesday. We hope that MRIN will continue its surge in the remaining week as well.