Marchex Provides Corporate Update
Marchex, Inc., a leading conversational analytics company that connects the voice of the customer to your business, announced that due to the growing impact from the COVID-19 outbreak and the resulting uncertainties and disruptions to our customers, at this time the company is withdrawing its previously announced business outlook and financial guidance for the first quarter of 2020 ending March 31, 2020.
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“We recognize many of our customers are facing unprecedented challenges during this period. As a result, we anticipate that financial difficulties for some of our customers may result in payment delays or impact collectability in the first quarter and immediate future. This may also have a subsequent impact on our near-term results and pipeline as we work closely with our customers to manage through this difficult period,” said Russell Horowitz, Executive Chairman and Co-CEO.
“Given the rapidly evolving circumstances with everything from temporary business closures to expanding isolation efforts, nearly every sector of the economy is being impacted. Our priority during this period of uncertainty is to safeguard our employees and support our customers and partners in every way possible. Where we can make a difference for our customers with our products and solutions and help ensure their continuity and stability, we are committed to doing so. We know we can help our customers gain real-time insights into their customer conversations and, in turn, understand what is most important to their businesses right now. This can help inform their real-time prioritizations and actions, which is critical for all of us during this period.”
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“While we note the current circumstances and their corresponding impacts, we believe that Marchex has a strong operating model and strong balance sheet and cash position without debt, which will help us weather this disruption. We remain confident in our strategy, long-term prospects and meaningful growth opportunity.”
Marchex will provide additional information in its first quarter 2020 earnings announcement and conference call based on information available at that time.
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