Fourth Quarter 2025 Highlights(1)
- Total net revenue was
$83.4 million in the fourth quarter 2025 (1)
- Total Billings were
$78.9 million in fourth quarter 2025, a year-over-year increase of 42% - Net income was
$14.0 million in fourth quarter 2025 - Cash from Operating Activities for fourth quarter 2025 improved
$18.2 million compared to fourth quarter 2024. On a year to date basis, CFFO improved by$68.1 million compared to the year endedDecember 31, 2024 . - Cash and cash equivalents were
$70.1 million as ofDecember 31, 2025 , and no debt outstanding. - Announced on
March 3, 2026 quarterly and special dividend totaling$0.45 per Class A share projecting FY26 dividends of$1.80 per Class A Share.
| (1) | Net Revenue (a GAAP measure) represents Billings that are recognized over the term of the subscription, which can be multiple years. Billings are amounts invoiced to customers in the period and is thus indicative of the current operating environment and demand for our products. |
“FY 2025 was our strongest year of Billings growth since going public in 2021, capped off by terrific Q4 results with Billings increasing 42% year over year and 24% higher than last quarter,” said
“These strong results, coupled with our confidence in our go-forward strategy, led to the Board decision to increase our regular dividend to Class A Shareholders by 25%. With this increase to the dividend, the annualized dividend yield is over 13%, based on current stock prices. We remain committed to being excellent stewards of our owner’s capital through dividends, share buybacks, and prudent investments in the business.”
Eifrig continued, “As I have mentioned before, a bit over a year ago we made the decision to increase the prices we charge on many of our investment research products and software tools. This shift has resulted in higher revenue per user and better overall margins. As a result, paid subscriber totals have become a less meaningful driver given our focus on efficient growth, renewal efforts, and maximizing life-time values. We are continuing to see an overall improvement in our customer mix, where roughly 50% of our paid subscribers have a cumulative lifetime spend of over
“At a more strategic and macro level, I have been asked by folks recently regarding how AI might impact our business. In short, we are excited about the opportunities that AI unlocks for us for a couple primary reasons. First, in a world where data, news, and research have been commoditized, our customers look to our analysts and editors more than ever to make sense of the rapidly evolving investing landscape. Over our 25-year history, we have provided trustworthy, independent financial research to millions of self-directed investors. Some of these customers have been with us for decades. Trust earned over time is a competitive advantage. Second, we are incorporating AI functionality into our investing tools and software. We believe these two elements will be an advantage for us in a competitive environment.”
Eifrig concluded, “Last November we provided preliminary Targets for FY 2026 which was Billings of
Full Year 2025 Highlights(1)
- Paid Subscribers were 374 thousand as of
December 31, 2025 compared with 506 thousand as ofDecember 31, 2024 - Total net revenue was
$328.1 million for full year 2025 compared with$408.7 million for full year 2024 (1) - Total Billings was
$271.2 million for full year 2025 compared with$239.1 million for full year 2024 - Net income was
$64.0 million for full year 2025 compared with$93.1 million for full year 2024 - Cash from Operating Activities (“CFFO”) was
$46.0 million for full year 2025 compared with$(22.2) million for full year 2024
| Our summary results and selected financial data are as follows: | ||||||||||||||||||
| (Unaudited, in millions, except per share data or otherwise noted) | 4Q 2024 | 1Q 2025 | 2Q 2025 | 3Q 2025 | 4Q 2025 | TTM 4Q 2025 | ||||||||||||
| Paid Subscribers (in thousands) | 506 | 473 | 394 | 379 | 374 | N/M | ||||||||||||
| Total net revenue | $ | 97.5 | $ | 83.5 | $ | 80.0 | $ | 81.3 | $ | 83.4 | $ | 328.1 | ||||||
| New "Marketing" Billings (1) | $ | 37.0 | $ | 51.3 | $ | 41.6 | $ | 48.7 | $ | 57.5 | $ | 199.1 | ||||||
| $ | 16.0 | $ | 18.3 | $ | 15.4 | $ | 14.1 | $ | 17.5 | $ | 65.4 | |||||||
| Other Billings (3) | $ | 2.4 | $ | 0.8 | $ | 1.2 | $ | 0.8 | $ | 3.9 | $ | 6.7 | ||||||
| Total Billings | $ | 55.4 | $ | 70.5 | $ | 58.2 | $ | 63.7 | $ | 78.9 | $ | 271.2 | ||||||
| ARPU (in dollars) | $ | 394 | $ | 419 | $ | 474 | $ | 566 | $ | 670 | $ | 670 | ||||||
| Net income | $ | 26.4 | $ | 16.8 | $ | 15.3 | $ | 17.9 | $ | 14.0 | $ | 64.0 | ||||||
| CFFO (4) | $ | 6.0 | $ | 1.7 | $ | 17.8 | $ | 2.2 | $ | 24.2 | $ | 46.0 | ||||||
| Adjusted CFFO | $ | 6.0 | $ | 1.7 | $ | 17.8 | $ | 2.2 | $ | 24.2 | $ | 46.0 | ||||||
| Free Cash Flow | $ | 6.1 | $ | 1.5 | $ | 17.5 | $ | 1.7 | $ | 23.7 | $ | 44.4 | ||||||
| Earnings per share - basic | $ | 1.09 | $ | 0.43 | $ | 0.55 | $ | 0.60 | $ | 0.79 | $ | 2.41 | ||||||
| Earnings per share - diluted | $ | 1.08 | $ | 0.41 | $ | 0.53 | $ | 0.58 | $ | 0.76 | $ | 2.31 | ||||||
| Regular dividends per Class A share (5) | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.80 | ||||||
| Special dividends per Class A share (5) | $ | — | $ | 0.60 | $ | 0.10 | $ | 0.20 | $ | 0.20 | $ | 1.10 | ||||||
| Total dividends per Class A share (5) | $ | 0.20 | $ | 0.80 | $ | 0.30 | $ | 0.40 | $ | 0.40 | $ | 1.90 | ||||||
| Class A Shares (6) | 2.0 | 2.3 | 2.4 | 2.5 | 2.4 | 2.4 | ||||||||||||
| Class | 14.0 | 13.7 | 13.6 | 13.6 | 13.6 | 13.6 | ||||||||||||
| Total Shares (6) | 16.0 | 16.1 | 16.0 | 16.1 | 16.1 | 16.0 | ||||||||||||
| (1) Includes billings from all new subscription sales to new and existing subscribers. | ||||||||||||||||||
| (2) Includes billings attributable to renewal and maintenance fee payments. Excludes Membership sales. | ||||||||||||||||||
| (3) Includes primarily billings from Revenue Share, Advertising, and Conferences. | ||||||||||||||||||
| (4) CFFO will fluctuate from quarter to quarter based on inherent variability in our business (2Q and 4Q tend to be higher; 1Q and 3Q, lower). CFFO can also be impacted by timing of product launches, marketing campaigns and discreet working capital items. | ||||||||||||||||||
| (5) Dividends prior to | ||||||||||||||||||
| (6) Excludes Management and Sponsor Earnout Shares. Amount in the TTM 4Q 2025 column is the average of the last four quarters | ||||||||||||||||||
| N/M - Not Meaningful | ||||||||||||||||||
Net Revenue versus Billings
Net Revenue represents cash received by the Company for the sale of subscriptions which are then recognized as revenue for GAAP purposes over the term of the subscription, or up to 5 years. Cash received by the company is recorded as Deferred Revenue on the Balance Sheet until such amounts are recognized as Net Revenue. Given the deferred nature of revenue recognition, there can be a significant lag between when cash is received by the Company and when revenue is recognized in the Income Statement. To illustrate, Net Revenue recognized in FY 2025 included the significant cash sales from 2021 and 2022. As such, Net Revenue may not be indicative of the current trajectory or operating environment of the Company. In contrast, Billings, represent current period cash sales by the Company which is reflective of the current, real-time operating activity of the Company. The disconnect between Net Revenue and the current trajectory of the Company can be observed in our 2025 results. Specifically, Net Revenue declined 19.7% from FY 2024 to FY 2025 whereas Billings, the actual cash sales of the business, increased 13.4%. We expect a similar dynamic to occur in FY 2026 where Net Revenue will decline while customer sales activity and Billings increase. Beginning in FY 2027, when the significant sales years of 2021 and 2022 are fully recognized as Net Revenue, we expect a more intuitive relationship between Net Revenue and Billings.
Selected Operational and Financial Supplemental Information
We are providing the additional information below to provide further context on results and trends.
Subscriber Composition Trends
As of
As previously disclosed, the Company’s strategy has pivoted since mid-2024 to focus on higher priced products. Thus, while the paid subscriber count has declined over the last 2-years in absolute terms, the quality and lifetime value of the subscribers have increased.
As illustrated in the chart below, the customer mix has steadily improved with 65% of customers as of
This positive mix shift and improvement in customer quality has contributed to the sales growth and margin expansion experienced over the last several quarters.
Billings
After several quarters of Billings declines, the Company experienced an inflection point in 4Q 2024 with a return to sequential Billings growth. Other than the favorable spike in Billings in 1Q 2025, Billings have continued a steady increase with 4Q 2025 Billings representing more than a 40% year over year increase in the 4th Quarter.
For FY 2025, Billings were
Further, as illustrated in the chart below, there has been a historical correlation between our Billings and share price. The correlation, however, has decoupled in recent quarters.
We remain focused on driving higher Billings, coupled with margin expansion, which we believe will increase intrinsic value over time.
Cash from Operating Activities
CFFO was
Based on the nature of our business, and as illustrated in the chart below, CFFO fluctuates from quarter to quarter. Specifically, Q2 and Q4 tend to have higher CFFO while Q1 and Q3 tend to have lower CFFO. The amount of CFFO in any given quarter is impacted by the timing of product launches, marketing campaigns, and discrete working capital items.
Given this variability, we believe it is useful to evaluate CFFO trends over multiple quarters, or a full year.
Balance Sheet and Capital Structure
As of
Partnership tax distributions to
Tax distribution payments were significant in FY 2025 due to the timing of taxable income which arose from the Billings in prior years.
For FY 2026, we expect these tax distributions to decline significantly to approximately
MarketWise Inc.’s Class A common stock trades on the Nasdaq Global Market under the symbol "MKTW." As of
As previously announced, the Board of Directors authorized a stock repurchase program of our Class A common stock. Since
On
The Company remains committed to its standalone strategy of driving sustainable growth in high-margin subscription sales, enhancing operational efficiency, and returning capital to shareholders through dividends and share repurchases.
On
Note that the special dividends referenced above arise from the previously mentioned tax distribution payments to noncontrolling interests, and represent the proportionate payment to
FY 2026 Targets
Our strategic plans and initiatives are built around bringing high-quality investing ideas and tools to our customers at a dynamic and volatile time for markets. Our focus will continue to be on delivering high-quality products to our customers, in an efficient manner, which we believe will drive both top line growth and margin expansion next year. Further, we intend to continue our disciplined approach to capital allocation with a mix of dividends, share repurchases, and prudent investments in our business.
For FY 2026, our targets are as follows:
- Billings of approximately
$300 million for FY 2026, which is growth of approximately 10% from FY 2025 Billings. - CFFO of approximately
$50 million for FY 2026 which is nearly a 10% YoY increase as compared to FY 2025 - Dividends to the publicly traded Class A shares of
$1.80 per share, inclusive of the recently announced 25% increase in the quarterly regular dividend, and a$0.20 per share per quarter special dividend.
Again, these forward-looking targets are based on trends and market conditions as they exist currently, and actual results may differ materially. In the case of dividends, amounts are subject to the ongoing approval by our Board of Directors.
About
Founded with a mission to level the playing field for self-directed investors, today
With more than 25 years of operating history,
Key Business Metrics and Non-GAAP Financial Measures
In this release we discuss certain key business metrics, which we believe provide useful information about the Company’s business and the operational factors underlying the Company’s financial performance. We are not aware of any uniform standards for calculating these key metrics, which may hinder comparability with other companies who may calculate similarly titled metrics in a different way.
Billings are defined as amounts invoiced to customers.
Paid Subscribers are defined as the total number of unique subscribers with at least one paid subscription at the end of the period.
Average revenue per user or ARPU is defined as the trailing four quarters of net Billings divided by the average number of quarterly total Paid Subscribers over that period.
In addition to our results determined in accordance with GAAP, we believe that the below non-GAAP financial measures are useful in evaluating operating performance. We use the below non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. This non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
Management uses these non-GAAP measures internally to evaluate performance and make operating decisions, and we believe they provide a meaningful perspective to investors when used in conjunction with our GAAP results.
These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other GAAP financial measures, such as cash flow from operations, operating cash flow margin, and net income. Some of the limitations of using these non-GAAP measures are that these metrics may be calculated differently by other companies in our industry.
Adjusted CFFO is defined as cash flow from operations (“CFFO”) plus or minus any non-recurring items.
Adjusted CFFO Margin is defined as Adjusted CFFO as a percentage of Billings.
We believe that Adjusted CFFO and Adjusted CFFO Margin are useful indicators that provide information to management and investors about our ability to generate cash, and for internal planning and forecasting purposes.
We expect Adjusted CFFO and Adjusted CFFO Margin to fluctuate in future periods as we invest in our business to execute our growth strategy. These activities, along with any non-recurring items as described above, may result in fluctuations in Adjusted CFFO and Adjusted CFFO Margin in future periods.
Free Cash Flow is defined as net cash provided by (used in) operating activities less capital expenditures. We define capital expenditures as purchases of property and equipment plus capitalized software development costs. Acquisitions are not included in capital expenditures.
We believe Free Cash Flow is a useful indicator that provides information to management and investors about the cash generated by the business that is available for discretionary purposes, such as dividends and strategic investments.
Non-GAAP Measures
The following table provides a reconciliation of net cash provided by (used in) operating activities to Adjusted CFFO, and net cash provided by operating activities margin as a percentage of total net revenue to Adjusted CFFO Margin, net cash provided by (used in) operating activities to Free Cash Flow, in each case, the most directly comparable financial measure calculated in accordance with generally accepted accounting principles in
| (In thousands) | Fourth Quarter | Year Ended | ||||||||||||||||||||
| 2025 | 2024 | % Change | 2025 | 2024 | % Change | |||||||||||||||||
| Net cash provided by (used in) operating activities | $ | 24,214 | $ | 5,985 | 304.6 | % | $ | 45,958 | $ | (22,150 | ) | (307.5 | )% | |||||||||
| Total net revenue | 83,394 | 97,478 | (14.4 | )% | 328,122 | 408,701 | (19.7 | )% | ||||||||||||||
| Net cash provided by (used in) operating activities margin | 29.0 | % | 6.1 | % | 14.0 | % | (5.4)% | |||||||||||||||
| Adjusted CFFO | $ | 24,214 | $ | 5,985 | 304.6 | % | $ | 45,958 | $ | (22,150 | ) | (307.5 | )% | |||||||||
| Billings | 78,854 | 55,355 | 42.5 | % | 271,195 | 239,083 | 13.4 | % | ||||||||||||||
| Adjusted CFFO margin | 30.7 | % | 10.8 | % | 16.9 | % | (9.3 | %) | ||||||||||||||
| Net cash provided by (used in) operating activities | $ | 24,214 | $ | 5,985 | 304.6 | % | $ | 45,958 | $ | (22,150 | ) | (307.5 | )% | |||||||||
| Capital expenditures | (529 | ) | 107 | (594.4 | )% | (1,567 | ) | (681 | ) | 130.1 | % | |||||||||||
| Free Cash Flow | $ | 23,685 | $ | 6,092 | 288.8 | % | $ | 44,391 | $ | (22,831 | ) | (294.4 | )% | |||||||||
NM: Not meaningful
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the financial position, business strategy, and the plans and objectives of management for future operations of
The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of our filings with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated.
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. We do not give any assurance that we will achieve our expectations.
Table 1. Income Statement
| Year Ended | |||||||||
| 2025 | 2024 | 2023 | |||||||
| Net revenue | $ | 325,708 | $ | 405,357 | $ | 443,245 | |||
| Related party revenue | 2,414 | 3,344 | 4,937 | ||||||
| Total net revenue | 328,122 | 408,701 | 448,182 | ||||||
| Operating expenses: | |||||||||
| Cost of revenue(1) | 44,335 | 50,663 | 56,802 | ||||||
| Sales and marketing(1) | 130,954 | 160,707 | 198,592 | ||||||
| General and administrative(1) | 78,293 | 90,712 | 125,176 | ||||||
| Research and development | 8,814 | 9,908 | 8,831 | ||||||
| Depreciation and amortization | 2,186 | 2,753 | 3,821 | ||||||
| Impairment losses | 380 | 4,445 | 2,583 | ||||||
| Related party expense | 564 | 525 | 572 | ||||||
| Total operating expenses | 265,526 | 319,713 | 396,377 | ||||||
| Income from operations | 62,596 | 88,988 | 51,805 | ||||||
| Other income (expense), net | 1,040 | 2,085 | (611 | ) | |||||
| Interest income, net | 2,963 | 5,288 | 4,904 | ||||||
| Income before income taxes | 66,599 | 96,361 | 56,098 | ||||||
| Income tax expense | 2,558 | 3,253 | 1,803 | ||||||
| Net income | 64,041 | 93,108 | 54,295 | ||||||
| Net income attributable to noncontrolling interests | 58,421 | 86,049 | 52,513 | ||||||
| Net income attributable to | $ | 5,620 | $ | 7,059 | $ | 1,782 | |||
| (1) Cost of revenue, sales and marketing, general and administrative, and research and development expenses are exclusive of depreciation and amortization shown as a separate line item | |||||||||
Table 2. Balance Sheet
| (in thousands, except share and per share data) | |||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 70,140 | $ | 97,876 | |||
| Accounts receivable | 5,722 | 1,876 | |||||
| Prepaid expenses | 10,799 | 10,051 | |||||
| Related party receivables | 838 | 547 | |||||
| Deferred contract acquisition costs | 43,388 | 57,214 | |||||
| Other current assets | 814 | 1,269 | |||||
| Total current assets | 131,701 | 168,833 | |||||
| Property and equipment, net | 453 | 592 | |||||
| Operating lease right-of-use assets | 6,684 | 3,182 | |||||
| Intangible assets, net | 3,813 | 4,673 | |||||
| 30,043 | 30,043 | ||||||
| Deferred contract acquisition costs, noncurrent | 34,678 | 42,121 | |||||
| Deferred tax assets | 11,007 | 10,071 | |||||
| Total assets | $ | 218,379 | $ | 259,515 | |||
| Liabilities and stockholders’ deficit | |||||||
| Current liabilities: | |||||||
| Trade and other payables | $ | 3,868 | $ | 4,011 | |||
| Related party payables | 509 | 338 | |||||
| Accrued expenses | 33,221 | 23,272 | |||||
| Deferred revenue and other contract liabilities | 183,798 | 217,973 | |||||
| Operating lease liabilities | 908 | 1,629 | |||||
| Other current liabilities | 11,900 | 12,985 | |||||
| Total current liabilities | 234,204 | 260,208 | |||||
| Deferred revenue and other contract liabilities, noncurrent | 185,754 | 209,013 | |||||
| Related party TRA liability, noncurrent (Note 12) | 4,260 | 2,669 | |||||
| Other liabilities, noncurrent | 2,611 | 2,811 | |||||
| Operating lease liabilities, noncurrent | 5,175 | 2,738 | |||||
| Total liabilities | 432,004 | 477,439 | |||||
| Commitments and Contingencies | — | — | |||||
| Stockholders’ deficit: | |||||||
| Common stock - Class A, par value of 2,445,010 and 1,978,013 shares issued and outstanding at December 31, 2024, respectively | — | — | |||||
| Common stock - Class B, par value of 13,612,641 and 13,994,498 shares issued and outstanding at | 1 | 1 | |||||
| Preferred stock - par value of issued and outstanding at | — | — | |||||
| Additional paid-in capital | 101,945 | 106,691 | |||||
| Accumulated other comprehensive income | 36 | 56 | |||||
| Accumulated deficit | (113,664 | ) | (119,284 | ) | |||
| Total stockholders’ deficit attributable to | (11,682 | ) | (12,536 | ) | |||
| Noncontrolling interest | (201,943 | ) | (205,388 | ) | |||
| Total stockholders’ deficit | (213,625 | ) | (217,924 | ) | |||
| Total liabilities and stockholders’ deficit | $ | 218,379 | $ | 259,515 | |||
Table 3. Cash Flows
| Year ended | |||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income | $ | 64,041 | $ | 93,108 | $ | 54,295 | |||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
| Depreciation and amortization | 2,186 | 2,753 | 3,821 | ||||||||
| Impairment and other charges | 380 | 4,445 | 2,583 | ||||||||
| Stock-based compensation | 11,106 | 12,202 | 23,384 | ||||||||
| Change in fair value of contingent consideration | (1,194 | ) | 507 | — | |||||||
| Change in fair value of derivative liabilities – other | — | — | 1,779 | ||||||||
| Deferred taxes | 954 | 2,872 | 1,803 | ||||||||
| Unrealized (gains) losses on foreign currency | (20 | ) | (18 | ) | 23 | ||||||
| Other gains | (2,250 | ) | — | — | |||||||
| Noncash lease expense | 3,172 | 2,053 | 2,135 | ||||||||
| (Gain) loss on sale of business | — | (2,030 | ) | 1,583 | |||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable | (3,805 | ) | 2,652 | (488 | ) | ||||||
| Related party receivables and payables, net | 1,074 | 2,622 | (2,284 | ) | |||||||
| Prepaid expenses | (748 | ) | (746 | ) | 2,420 | ||||||
| Other current assets and other assets | 455 | 1,190 | 1,533 | ||||||||
| Deferred contract acquisition costs | 20,490 | 63,468 | 31,329 | ||||||||
| Trade and other payables | (123 | ) | 3,470 | (200 | ) | ||||||
| Accrued expenses | 9,949 | (31,769 | ) | 9,065 | |||||||
| Deferred revenue | (56,092 | ) | (162,093 | ) | (67,092 | ) | |||||
| Derivative liabilities | — | — | (3,060 | ) | |||||||
| Operating lease liabilities | (3,312 | ) | (1,446 | ) | (1,501 | ) | |||||
| Other current and long-term liabilities | (305 | ) | (15,390 | ) | 1,300 | ||||||
| Net cash provided by (used in) operating activities | 45,958 | (22,150 | ) | 62,428 | |||||||
| Cash flows from investing activities: | |||||||||||
| Cash paid for acquisitions, net of cash acquired | — | — | (170 | ) | |||||||
| Purchases of property and equipment | (391 | ) | (133 | ) | (65 | ) | |||||
| Capitalized software development costs | (1,176 | ) | (548 | ) | (1,662 | ) | |||||
| Net cash used in investing activities | (1,567 | ) | (681 | ) | (1,897 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Proceeds from issuance of common stock | 418 | 301 | 678 | ||||||||
| Shares and restricted stock units withheld to pay taxes | (2,360 | ) | (1,368 | ) | (6,032 | ) | |||||
| Repurchases of stock | (3,379 | ) | (10,803 | ) | — | ||||||
| Dividends paid | (4,776 | ) | (1,506 | ) | (5,744 | ) | |||||
| Distributions to members | — | — | — | ||||||||
| Tax distributions to noncontrolling interests | (49,838 | ) | (9,564 | ) | (3,353 | ) | |||||
| Other distributions to noncontrolling interests | (12,172 | ) | (11,518 | ) | (49,502 | ) | |||||
| Net cash used in financing activities | (72,107 | ) | (34,458 | ) | (63,953 | ) | |||||
| Effect of exchange rate changes on cash | (20 | ) | (9 | ) | 21 | ||||||
| Net decrease in cash, cash equivalents and restricted cash | (27,736 | ) | (57,298 | ) | (3,401 | ) | |||||
| Cash, cash equivalents and restricted cash — beginning of period | 97,876 | 155,174 | 158,575 | ||||||||
| Cash, cash equivalents and restricted cash — end of period | $ | 70,140 | $ | 97,876 | $ | 155,174 | |||||
MarketWise Investor Relations Contact
Email: ir@marketwise.com
MarketWise Media Contact
Email: media@marketwise.com
Charts accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d6d9d457-d14e-46be-8e4c-b35ac5b159c5
https://www.globenewswire.com/NewsRoom/AttachmentNg/9ba9493c-04ec-42ad-b5a9-4922b899aebe
https://www.globenewswire.com/NewsRoom/AttachmentNg/28c9d533-c586-463b-97fd-5d7decdc9a7a
Composition of Paid Subscribers by Lifetime Cumulative Spend
Composition of Paid Subscribers by Lifetime Cumulative Spend
Billings
Billings (unaudited, in millions)
CFFO
