Marin Software closed 2016 with quarterly revenues of $22.9m, down 21% from the period 12 months beforehand and missing earlier analyst forecasts, with the company attributing the downturn in its fortunes to client churn and softer spending habits of those that it was able to retain.
Net revenues for 2016 as a whole totaled $99.9m, a year-over-year decrease of 8%, when compared to $108.5m in 2015, according to the numbers released earlier today (February 28).
GAAP gross profit was $14.5m resulting in a gross margin of 63%, but this is compared to GAAP gross profit of $19.6m equating to a Read full story ›
Source: The Drum
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