The following is a summary of the Marchex, Inc. (MCHX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Marchex reported a Q4 revenue of $12.4 million, slightly higher than the $12.3 million from Q4 2022 but lower than Q3 2023's revenue of $12.8 million.

• Total operating costs for Q4 were $12.6 million, less than the $14.6 million reported in Q4 2022.

• Adjusted EBITDA for Q4 was approximately $100,000.

• GAAP net loss was $1.1 million for Q4, showing an improvement from a loss of $3.6 million in Q4 2022.

• The company ended Q4 with roughly $14.6 million in cash.

Business Progress:

• Marchex has launched AI features and focused resources toward core vertical markets such as auto, home services, and healthcare.

• The company saw significant growth in the automotive vertical and plans to continue this in 2024.

• Existing customer contracts were extended to multiyear arrangements and new auto OEM customer footprints were expanded in 2023.

• Marchex invested $3.2 million in product development to enhance AI and expand conversational intelligence capabilities.

• The shift to a single cloud-based platform is expected to reduce long-term infrastructure costs and increase operational efficiency.

• The firm anticipates a growth in 2024 revenue due to new customer relationships and product features, expecting to increase gross margins by at least 5 percentage points by the end of 2024.

More details: Marchex IR

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