Q3 2020 Marin Software Inc Earnings Call

Greetings and welcome to the Marines software third quarter 2020 financial results Conference call. At this time all participants are in a listen only mode. If anyone's you require operator assistance during the conference. Please put stars here on your telephone keypad. As a reminder, this conference is being recorded it is now my pleasure to introduce your host Bob.

Thank you Mr Arts you may begin.

Thank you good afternoon, everyone and welcome to Maroon software third quarter Twenty-twenty earnings call.

My name is Bob Birch, I'm or N. CFO Enjoining me today is Crystaline R. N C E O.

Right now you should have received a copy of our earnings release, which crossed the wire a short time ago.

The release can also be obtained on our website and investors Dot Marine software Dot com.

Call for just enter advice at the audio of this conference call is being recorded for playback purposes, and then a recording will be made available on the Investor Relations section of our website within a few hours.

Before we begin I'd like to note that our discussion today.

To include forward looking statements within the meaning of the security is after 1933.

And the Securities exchange active 1934.

These forward looking statements include statements about our business outlook and strategy.

And form 10-K, as well as our other SEC filings.

This presentation contains certain financial performance measures that are different from the financial measures calculated in accordance with GAAP and may also be different from similar calculations or measures used by other companies.

The high end of our guidance.

Our total cash balance at the end of Q3 was 9 million.

Since the end of the third quarter, Brent is issued and sold 1.9 million shares of common stock under our aftermarket offering program netting proceeds of approximately $6 billion strengthening our cash position.

We will continue to monitor our use of cash closely balancing investments with cost management.

Need it Fortunately our team is able to support our customers globally without disruption and to continue to advance our product set especially more in one.

As we've discussed before marine seems to be an ally in digital for the world's leading brands and their agencies customers and prospects traverse a range of channels devices and publishers online on their path to purchase Mark.

Marketers need a cross channel platform to engage at all points of this customer journey and as we have highlighted the walled gardens of Google Facebook and Amazon do not play well together, leading brands to connect the dots on their own.

Murray helps these advertisers to measure manage and optimize their online advertising investments driving performance time savings and better business insights.

Tools from the publishers understandably focused on how to enable a given advertiser to spend more money on ads from that particular publisher.

As they seek to provide brands with the ability to leverage high performing AD units across leading publishers from one integrated workspace.

We added marine insights to marine one this quarter, giving our customers automated recommendations on specific actions that will improve the performance of their accounts.

Solution across their paid initiatives no matter, how many ads are keywords require unique tracking.

Brent continues to add active customers to this program.

We also held a webinar with the Amazon adds came at the end of October to showcase how advertisers can drive more revenue through use of this attribution functionality.

As part of our investments in were in one we continue to add to our social capabilities to complement the robust functionality that Facebook provides an its tools.

The revenue being the high end of our guidance for the corner by $300000, primarily due to higher search revenue.

Third quarter revenue was down 42% when compared to total revenue for the third quarter of 2019.

Or 34% when adjusted for the revenue impact, resulting from the sale of our perfect audience business in late 2019.

And the revised timing of revenue recognition.

Never restructuring plan during the third quarter of 2020.