Revenue during the quarter dropped 18.62 percent to $28.40 million from $34.90 million in the previous year period. Gross margin for the quarter contracted 19 basis points over the previous year period to 43.64 percent. Operating margin for the quarter stood at negative 20.09 percent as compared to a positive 3.57 percent for the previous year period.

Operating loss for the quarter was $5.70 million, compared with an operating income of $1.25 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $2.03 million compared with $2.91 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 7.15 percent for the quarter compared to 8.34 percent in the last year period.

The company has spent $1.22 million cash to meet investing activities during the year as against cash inflow of $21.82 million in the last year.

The company has spent $0.31 million cash to carry out financing activities during the year as against cash outgo of $5.45 million in the last year period.

Cash and cash equivalents stood at $103.95 million as on Dec. 31, 2016, down 4.77 percent or $5.20 million from $109.16 million on Dec. 31, 2015.

Working capital declines
Marchex, Inc. has witnessed a decline in the working capital over the last year. It stood at $109.63 million as at Dec. 31, 2016, down 7.73 percent or $9.19 million from $118.82 million on Dec. 31, 2015. Current ratio was at 8.37 as on Dec. 31, 2016, up from 8.05 on Dec. 31, 2015.