Company Analysis

Marchex, Inc. (MCHX)

Nasdaq: MCHX · Services-Prepackaged Software · Seattle, WA · filing with the SEC since 2003
Grade4.0
◀ Past 3.2● Present 4.9▶ Future 3.8
1 est.

The grade of Marchex, Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.0/10
◀ Past3.225% of the headline
● Present4.935% of the headline
▶ Future3.840% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.2/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.3/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2022-11-15.

weight 22% of this tense · 43rd percentile among 230 sector filers · read for itself

From the record

Marchex, Inc.'s filings since 2017 show 2 warning events: an auditor change (8-K item 4.01, 2 times, the latest 2022-11-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
0.9/10

What has it actually done, year after year?

-8.2% a year over 9 filed years; profitable in 0 of 9.

weight 45% of this tense · 9th percentile among 213 sector filers · read for its customers

From the record

Marchex, Inc.'s 9 filed years say what it did: revenue went from $90 million in fiscal 2017 to $45 million in fiscal 2025, down 8.2% a year; it rose in 1 of 8 years; the deepest fall was 50% from fiscal 2017 to fiscal 2025; net income was positive in 0 of 9 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-8.2%bottom 6% of its family
  • the share of years revenue rosebottom 1% of its family
  • the share of filed years with a profitbottom 17% of its family
  • the deepest fall from a revenue peak49.7%bottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.6/10

How has it treated the people who own it?

SI estimate 5.6/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 180 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 180 members with one.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
family median, 180 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Marchex, Inc.'s shareholder treatment is put at 5.6 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 180 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.9/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
6.8/10

Is it financially healthy right now?

ROE -17%: lost 17¢ per shareholder dollar. Leverage 24%: owes 24¢ per asset dollar.

weight 45% of this tense · 68th percentile among 217 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Marchex, Inc. lost about 17 cents for every dollar of shareholders' money, and gross profitability: its products earned about 73 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 24 cents per dollar of assets (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 20% of its family
  • return on equitybottom 34% of its family
  • gross profit against assetstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.6/10

How strong is its position in its industry?

bottom 26% of 218 in its family; net margin -11.5%.

weight 33% of this tense · 26th percentile among 218 sector filers · read for its customers

From the record

Marchex, Inc.'s standing among 218 graded names in its industry family: revenue of $45 million in fiscal 2025 ranks in the bottom 25% by size; a net margin of -11.5% ranks in the bottom 38%; revenue growth of -4.5% a year over the last 3 filed years ranks in the bottom 15% (its annual reports).

What it rests on

  • revenue against the family$45.4Mbottom 25% of its family
  • net margin-11.5%bottom 38% of its family
  • three-year revenue growth-4.5%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
4.3/10

What are the people in charge doing?

bottom 43% of 139 in its family for leadership.

weight 22% of this tense · 43rd percentile among 139 sector filers · read for its shareholders

From the record

Marchex, Inc.'s leadership, from its insiders' filings and its current reports: no one files under a chief executive's title, so that part is not read; the 9 officers and directors filing in the last fifteen months have been on the record a median of 7.6 years (top 18%); 12 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (bottom 5%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge12 in three years among 9 peoplebottom 5% of its family
  • the median years the people in charge have filed7.6 yearstop 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

3.8/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.8/10

How much room does it have to grow?

bottom 48% of 216 in its family for room to expand.

weight 22% of this tense · 48th percentile among 216 sector filers · read for itself

From the record

Marchex, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $10 million against no long-term debt tagged leaves 25.1% of its assets as net cash, top 27% of its family; cash from operations less capital spending is -3.2% of revenue (bottom 28%); a gross margin of 63.4% (bottom 39%); research spending of 21.5% of revenue (top 48%) (its annual report).

What it rests on

  • cash less debt against assets25.1%top 27% of its family
  • cash from operations less capital spending against revenue-3.2%bottom 28% of its family
  • gross margin63.4%bottom 39% of its family
  • research spending against revenue21.5%top 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
2.9/10

What could actually drive growth from here?

bottom 29% of 213 in its family for growth drivers.

weight 45% of this tense · 29th percentile among 213 sector filers · read for its customers

From the record

Marchex, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -4.5% a year over the last three filed years against -8.2% over all 9, speeding up (top 8% of its family); the newest year grew -5.6% (bottom 12%); research spending grew -12.1% a year (bottom 12%); capital spending grew -76.7% a year (bottom 2%) (its annual reports). Marchex, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+3.7 points a yeartop 8% of its family
  • the newest year's revenue growth-5.6%bottom 12% of its family
  • three-year growth of research spending-12.1%bottom 12% of its family
  • three-year growth of capital spending-76.7%bottom 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.4/10

Did its newest year beat what its own record pointed to?

bottom 44% of 194 in its family for expectations against reality.

weight 33% of this tense · 44th percentile among 194 sector filers · read for its shareholders

From the record

Marchex, Inc.'s newest year against its own record: revenue of $45 million in fiscal 2025 came in 1.7% below the $46 million its prior three years' pace pointed to (bottom 46% of its family); net income of $5 million against a prior three-year average of $8 million (bottom 45%); a net margin of -11.5% against -15.3% before (bottom 40%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-1.7%bottom 46% of its family
  • net income against the prior three years' average+32%bottom 45% of its family
  • net margin against its prior average+3.8 pointsbottom 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton MCHX · research, not advice