MarketWise(MKTW) - 2023 Q3 - Earnings Call Presentation

Company Culture and Strategy - MarketWise's success hinges on earning customers' trust through reliable research and a customer-centric culture, even if it impacts short-term revenue[1][2] - The company aims to re-establish a culture of mutual respect and partnership with leading operators to improve performance[9] - The company emphasizes transparency and avoids misleading forecasts, focusing on addressing criticisms and providing direct communication with shareholders[11][12] Financial Performance and Metrics - For the third quarter of 2023, MarketWise generated a net income of $12 million on GAAP net revenue of $106.2 million[21] - For the nine months ended September 30, 2023, MarketWise reported a net income of $52.4 million on GAAP net revenue of $336 million[21] - Marketing Billings have fallen substantially, down 53% since the COVID bubble[37] - Trailing 12-month Renewal Billings are $105.5 million, down less than 13% from the peak in 2021[37] - The company's estimated "float" was $108.6 million as of the end of the third quarter[39] Billings Breakdown - In the trailing twelve months (TTM) ending September 30, 2023, New "Marketing" Billings were $279.627 million, Net "Renewal" Billings were $105.517 million, and "Other" Billings were $4.633 million[35]