0000950170-23-061145.txt : 20231108 0000950170-23-061145.hdr.sgml : 20231108 20231108161525 ACCESSION NUMBER: 0000950170-23-061145 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20231108 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20231108 DATE AS OF CHANGE: 20231108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARCHEX INC CENTRAL INDEX KEY: 0001224133 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 352194038 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50658 FILM NUMBER: 231388065 BUSINESS ADDRESS: STREET 1: 520 PIKE STREET STREET 2: SUITE 2000 CITY: SEATTLE STATE: WA ZIP: 98101 BUSINESS PHONE: 206-331-3300 MAIL ADDRESS: STREET 1: 520 PIKE STREET STREET 2: SUITE 2000 CITY: SEATTLE STATE: WA ZIP: 98101 8-K 1 mchx-20231108.htm 8-K 8-K
0001224133false00012241332023-11-082023-11-08

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 8, 2023

Marchex, Inc.

(Exact name of Registrant as Specified in its Charter)

Delaware

000-50658

35-2194038

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

 

1200 5th Ave., Suite 1300,

Seattle, Washington

98101

(Address of principal executive offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (206) 331-3300

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Class B Common Stock, par value $0.01 per share

 

MCHX

 

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On November 8, 2023, Marchex, Inc. (“Marchex”) is issuing a press release and holding a conference call regarding its financial results for the third quarter ended September 30, 2023 (the “Press Release”). The full text of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02 (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Marchex is referencing non-GAAP financial information in both the Press Release and on the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached Press Release. Disclosures regarding definitions of these financial measures used by Marchex and why Marchex’s management believes these financial measures provide useful information to investors is also included in the Press Release.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

No.

Description

 

 

99.1

Press Release of Marchex, dated November 8, 2023

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Marchex has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

MARCHEX, INC.

 

 

Date: November 8, 2023

By:

/s/ HOLLY A. AGLIO

 

Name:

Holly A. Aglio

 

Title:

Chief Financial Officer

(Principal Financial Officer)

 

 EX-99.1 2 mchx-ex99_1.htm EX-99.1 EX-99.1

Exhibit 99.1

Marchex Announces Third Quarter 2023 Results

SEATTLE – November 8, 2023 – Marchex, Inc. (NASDAQ: MCHX), the award-winning AI-powered conversation intelligence company that helps businesses turn strategic insights into the actions that drive their most valued sales outcomes, today announced its financial results for the third quarter ended September 30, 2023.

Q3 2023 Financial Highlights

•
GAAP revenue was $12.8 million for the third quarter of 2023 compared to $13.2 million for the third quarter of 2022.
•
Net loss was $1.5 million for the third quarter of 2023 or $0.04 per diluted share compared to a net loss of $1.6 million or $0.04 per diluted share for the third quarter of 2022.

 

 

 

Q3 2022

 

Q3 2023

GAAP Revenue

 

$13.2

million

 

$12.8

million

Non-GAAP Results:

 

 

 

 

 

 

Adjusted EBITDA:

 

Breakeven

 

$370,000*

*Adjusted EBITDA includes approximately $300,000 of reorganization costs. Excluding these amounts would result in Adjusted EBITDA totaling $670,000 dollars.

•
Adjusted non-GAAP loss per share for the third quarter of 2023 was $0.01 compared to $0.01 for the third quarter of 2022.

Recent Progress Summary:

•
New Customer Traction and Existing Customer Expansion. Marchex saw traction with new enterprise customers across multiple product lines in several verticals, including Home Services, Auto, and Healthcare.
•
Conversation Volumes. Overall conversation volumes in the third quarter of 2023 showed modest improvement when compared to the second quarter of 2023. On a year-over-year basis volumes were down slightly, due in part to some customers being impacted by underlying churn and pressure from other overall macroeconomic factors.
•
Company Hires CFO. The company announced that Holly Aglio has joined the company as Chief Financial Officer. Aglio is a seasoned financial leader, having served in multiple influential financial management roles during her career, and will lead Marchex’s finance and accounting organizations.
•
Accelerate Product Innovation. 
•
Marchex Launches Generative AI-powered Call Summary and Sentiment Suite Capabilities. The company announced the first of its Generative AI-powered technology capabilities in its rapidly expanding award-winning conversational intelligence platform. Powered by generative AI, these new features analyze and generate summaries of consumer-to-business calls, enabling businesses to immediately identify customers who have had exceptionally good experiences, as well as dissatisfied ones. This valuable data empowers companies to capitalize on positive interactions by advancing sales processes or encouraging positive online behaviors, as well as take action to rectify concerns from dissatisfied customers.

 

 

“In the third quarter and today, Marchex is making significant progress with a number of initiatives that will help ensure long-term leadership in the conversational intelligence market,” said Edwin Miller, CEO. “We are moving to optimize our technology capabilities to accelerate our ability to innovate and harness the power of our significant conversational data to deliver new AI-driven products and features for customers and prospects. These initiatives will be the foundation of our long-term growth and profitability. We are highly focused on our most tangible opportunities, which we believe have the potential to grow into a nine-figure business in the future. At the same time, our focus has enabled us to achieve profitability on an adjusted EBITDA basis earlier than expected this year. This also sets the stage for more operating leverage as we grow revenue. I am proud of the team and the significant effort we are making to take advantage of our robust market opportunity.”

 

Business Outlook

 

The following forward-looking statements reflect Marchex's expectations as of ​November 8, 2023​.

 

For the fourth quarter ending December 31, 2023:

•
Revenue is anticipated to be at or near third quarter 2023 levels.
•
The company anticipates the auto vertical to deliver double-digit growth on an annualized run rate year-over-year basis by the end of the fourth quarter.
•
Adjusted EBITDA is anticipated to be above break-even.

For the fiscal year 2024:

•
The company anticipates revenue growth on a year-over-year basis along with sequential progress.
•
Adjusted EBITDA is anticipated to be above break-even throughout the year.

 

“Despite what is traditionally a seasonally slower quarter for many customers, in the fourth quarter we anticipate the business will continue to make progress, grow year-over-year and remain profitable on an adjusted EBITDA basis as we exit 2023. We look forward to seeing what our current efforts can achieve as we move into next year and deliver on key initiatives including our robust product roadmap and vertical sales opportunities,” said Miller.

 

Management will hold a conference call, starting at 5:00 p.m. ET on Wednesday, November 8, 2023​, to discuss its ​third quarter ​September 30, 2023,​ financial results and other company updates. Access to the live webcast of the conference call will be available online from the Investors section of Marchex’s website at www.marchex.com. An archived version of the webcast will also be available at the same location two hours after completion of the call.

 

About Marchex

 

Marchex’s award-winning conversation intelligence platform, featuring AI-powered sales engagement and marketing solutions, helps businesses turn strategic insights into the actions that drive their most valued sales outcomes. Our multichannel voice and text capabilities enable sales and marketing teams to deliver the buying experiences that today’s customers expect. Marchex is the trusted conversation intelligence partner for market-leading companies in critical industries, including many of the world’s most innovative and successful brands.

Please visit http://www.marchex.com, www.marchex.com/blog or @marchex on Twitter (Twitter.com/Marchex), where Marchex discloses material information from time to time about the company, its financial information, and its business.

 

Forward-Looking Statements:

 

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, other financial guidance, acquisitions, dispositions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause Marchex's actual results to differ materially from those indicated by such forward-looking statements including but not limited to product demand, order cancellations and delays, competition and general economic conditions. These factors are described in greater detail in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. All of the information provided in this release is as of ​November 8, 2023,​ and Marchex undertakes no duty to update the information provided herein.

 

In the event the press release contains links to third party websites or materials, the links are provided solely as a convenience to you. Marchex is not responsible for the content of linked third-party sites or materials and does not make any representations regarding the content or accuracy thereof.

 

Non-GAAP Financial Information:

To supplement Marchex's consolidated financial statements presented in accordance with GAAP and to provide clarity internally and externally, Marchex uses certain non-GAAP measures of financial performance and liquidity, including Adjusted EBITDA, Adjusted OIBA, and Adjusted non-GAAP income (loss) per share.

 

Adjusted EBITDA represents net income (loss) before (1) interest, (2) income taxes, (3) amortization of intangible assets from acquisitions, (4) depreciation and amortization, (5) stock-based compensation expense, (6) acquisition and disposition-related costs (benefit), and (7) foreign government assistance subsidies. Marchex believes that Adjusted EBITDA is an alternative measure used by our management to understand and evaluate our core operating performance and trends, and that provides meaningful supplemental information regarding performance and evaluating performance and liquidity to measure its ability to fund operations and its financing obligations.

 

Adjusted OIBA represents Adjusted EBITDA adjusted for depreciation and amortization. This measure, among other things, is another metric by which Marchex evaluates the performance of its business. Adjusted OIBA is the basis on which Marchex's internal budgets are based and by which Marchex's management is currently evaluated. Marchex believes these measures are useful to investors because they represent Marchex's consolidated operating results, taking into account depreciation and other intangible amortization, which Marchex believes is an ongoing cost of doing business, but excluding the effects of certain other expenses as detailed above. Financial analysts and investors may use Adjusted EBITDA and Adjusted OIBA to help with comparative financial evaluation to make informed investment decisions.

 

 

Adjusted non-GAAP income (loss) per share represents Adjusted non-GAAP income (loss) divided by GAAP diluted shares outstanding. Adjusted non-GAAP income (loss) generally captures those items on the statement of operations that have been, or ultimately will be, settled in cash exclusive of certain items that are not indicative of Marchex’s recurring core operating results and represents net income (loss) applicable to common stockholders plus the net of tax effects of: (1) stock-based compensation expense, (2) acquisition and disposition related costs (benefit), (3) amortization of intangible assets from acquisitions, (4) interest income and other, net, and (5) foreign government assistance subsidies. Financial analysts and investors may use Adjusted non-GAAP income (loss) per share to analyze Marchex's financial performance since these groups have historically used EPS related measures, along with other measures, to estimate the value of a company, to make informed investment decisions, and to evaluate a company's operating performance compared to that of other companies in its industry.

 

Marchex's management believes that investors should have access to, and Marchex is obligated to provide, the same set of tools that management uses in analyzing the company's results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, and should not be considered in isolation, as a substitute for, or superior to, GAAP results. Marchex’s non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar titled terms used by other companies, and accordingly, care should be exercised in understanding how Marchex defines its non-GAAP financial measures in this release. Marchex endeavors to compensate for the limitations of the non-GAAP measures presented by providing the comparable GAAP measure with equal or greater prominence, GAAP financial statements, and detailed descriptions of the reconciling items and adjustments, including quantifying such items, to derive the non-GAAP measure.

For further information, contact:

Trevor Caldwell
Marchex Investor Relations

Telephone: 206.331.3600
Email: ir@marchex.com

Or

MEDIA INQUIRIES

Marchex Corporate Communications

Telephone: 206.331.3434

Email: pr(at)marchex.com

 

 

MARCHEX, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

Revenue

 

$

13,197

 

 

$

12,778

 

 

$

39,878

 

 

$

37,516

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Service costs (1)

 

 

4,992

 

 

 

5,057

 

 

 

14,791

 

 

 

15,899

 

Sales and marketing (1)

 

 

3,388

 

 

 

2,319

 

 

 

10,172

 

 

 

8,920

 

Product development (1)

 

 

3,524

 

 

 

3,942

 

 

 

10,515

 

 

 

12,202

 

General and administrative (1)

 

 

2,351

 

 

 

2,249

 

 

 

7,397

 

 

 

7,412

 

Amortization of intangible assets from acquisitions

 

 

531

 

 

 

531

 

 

 

1,593

 

 

 

1,593

 

Acquisition and disposition-related costs

 

 

10

 

 

 

—

 

 

 

37

 

 

 

12

 

Total operating expenses

 

 

14,796

 

 

 

14,098

 

 

 

44,505

 

 

 

46,038

 

Loss from operations

 

 

(1,599

)

 

 

(1,320

)

 

 

(4,627

)

 

 

(8,522

)

Interest income (expense) and other, net

 

 

37

 

 

 

(218

)

 

 

33

 

 

 

(192

)

Loss before provision for income taxes

 

 

(1,562

)

 

 

(1,538

)

 

 

(4,594

)

 

 

(8,714

)

Income tax expense (benefit)

 

 

(4

)

 

 

9

 

 

 

77

 

 

 

53

 

Net loss

 

 

(1,558

)

 

 

(1,547

)

 

 

(4,671

)

 

 

(8,767

)

Net loss applicable to common stockholders

 

$

(1,558

)

 

$

(1,547

)

 

$

(4,671

)

 

$

(8,767

)

Basic and diluted net loss per Class A and Class B share applicable to common stockholders

 

$

(0.04

)

 

$

(0.04

)

 

$

(0.11

)

 

$

(0.21

)

Shares used to calculate basic net loss per share applicable to common stockholders

 

 

 

 

 

 

 

 

 

 

 

 

Class A

 

 

4,661

 

 

 

4,661

 

 

 

4,661

 

 

 

4,661

 

Class B

 

 

38,861

 

 

 

38,103

 

 

 

38,735

 

 

 

37,927

 

Shares used to calculate diluted net loss per share applicable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Class A

 

 

4,661

 

 

 

4,661

 

 

 

4,661

 

 

 

4,661

 

Class B

 

 

43,522

 

 

 

42,764

 

 

 

43,396

 

 

 

42,588

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes stock-based compensation allocated as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Service costs

 

$

46

 

 

$

—

 

 

$

125

 

 

$

—

 

Sales and marketing

 

 

205

 

 

 

89

 

 

 

596

 

 

 

580

 

Product development

 

 

58

 

 

 

(39

)

 

 

216

 

 

 

94

 

General and administrative

 

 

316

 

 

 

357

 

 

 

1,097

 

 

 

1,233

 

Total

 

$

625

 

 

$

407

 

 

$

2,034

 

 

$

1,907

 

 

 

 

 

MARCHEX, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

 

 

December 31,

 

 

September 30,

 

 

 

2022

 

 

2023

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

20,474

 

 

$

13,717

 

Accounts receivable, net

 

 

8,396

 

 

 

8,132

 

Prepaid expenses and other current assets

 

 

2,015

 

 

 

2,107

 

Total current assets

 

 

30,885

 

 

 

23,956

 

Property and equipment, net

 

 

4,050

 

 

 

3,313

 

Right-of-use lease asset

 

 

738

 

 

 

1,745

 

Other assets, net

 

 

973

 

 

 

1,112

 

Assets held for sale

 

 

-

 

 

 

400

 

Goodwill

 

 

17,558

 

 

 

17,558

 

Intangible assets from acquisitions, net

 

 

2,590

 

 

 

997

 

Total assets

 

$

56,794

 

 

$

49,081

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

2,037

 

 

$

1,177

 

Accrued benefits and payroll

 

 

3,566

 

 

 

2,990

 

Other accrued expenses and current liabilities

 

 

3,825

 

 

 

3,762

 

Deferred revenue and deposits

 

 

1,384

 

 

 

1,212

 

Right of use liability, current

 

 

1,252

 

 

 

452

 

Finance lease, current

 

 

—

 

 

 

221

 

Total current liabilities

 

 

12,064

 

 

 

9,814

 

Deferred tax liabilities

 

 

233

 

 

 

233

 

Finance lease, non-current

 

 

-

 

 

 

424

 

Right of use liability non-current

 

 

385

 

 

 

1,336

 

Total liabilities

 

 

12,682

 

 

 

11,807

 

Stockholders’ equity:

 

 

 

 

 

 

Class A common stock

 

 

49

 

 

 

49

 

Class B common stock

 

 

385

 

 

 

387

 

Additional paid-in capital

 

 

354,999

 

 

 

356,926

 

Accumulated deficit

 

 

(311,321

)

 

 

(320,088

)

Total stockholders’ equity

 

 

44,112

 

 

 

37,274

 

Total liabilities and stockholders’ equity

 

$

56,794

 

 

$

49,081

 

 

 

MARCHEX, INC. AND SUBSIDIARIES

(in thousands)

(unaudited)

 

Reconciliation of GAAP Net Loss to Adjusted EBITDA and Adjusted Operating Income (Loss) Before Amortization (OIBA)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

Net loss applicable to common stockholders

 

$

(1,558

)

 

$

(1,547

)

 

$

(4,671

)

 

$

(8,767

)

Interest expense (income) and other, net

 

 

(37

)

 

 

218

 

 

 

(33

)

 

 

192

 

Income tax expense

 

 

(4

)

 

 

9

 

 

 

77

 

 

 

53

 

Amortization of intangible assets from acquisitions

 

 

531

 

 

 

531

 

 

 

1,593

 

 

 

1,593

 

Depreciation and amortization

 

 

443

 

 

 

752

 

 

 

1,301

 

 

 

1,533

 

Stock-based compensation

 

 

625

 

 

 

407

 

 

 

2,034

 

 

 

1,907

 

Acquisition and disposition-related costs

 

 

10

 

 

 

—

 

 

 

37

 

 

 

12

 

Foreign government paycheck assistance and rent subsidies1

 

 

—

 

 

 

—

 

 

 

(10

)

 

 

—

 

Adjusted EBITDA

 

$

10

 

 

$

370

 

 

$

328

 

 

$

(3,477

)

Depreciation and amortization

 

 

443

 

 

 

752

 

 

 

1,301

 

 

 

1,533

 

Adjusted OIBA

 

$

(433

)

 

$

(382

)

 

$

(973

)

 

$

(5,010

)

 

1 Includes pandemic related wage and rent relief subsidies, recognized as a reduction of wages or rent during the period received.

 

 

MARCHEX, INC. AND SUBSIDIARIES

(in thousands)

(unaudited)

 

Reconciliation of GAAP Net Loss per Share to Adjusted Non-GAAP Loss1

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

Net loss applicable to common stockholders, diluted

 

$

(0.04

)

 

$

(0.04

)

 

$

(0.11

)

 

$

(0.21

)

Stock-based compensation

 

 

0.02

 

 

 

0.02

 

 

 

0.05

 

 

 

0.05

 

Acquisition and disposition-related costs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Amortization of intangible assets from acquisitions

 

 

0.01

 

 

 

0.01

 

 

 

0.04

 

 

 

0.04

 

Interest income (expense) and other, net

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Foreign government paycheck assistance and rent subsidies

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Adjusted non-GAAP loss per share

 

$

(0.01

)

 

$

(0.01

)

 

$

(0.02

)

 

$

(0.12

)

Shares used to calculate diluted net loss per share applicable to common stockholders (GAAP) and Adjusted Non-GAAP loss per share

 

 

43,522

 

 

 

42,764

 

 

 

43,396

 

 

 

42,588

 

 

1 For the purpose of computing the number of diluted shares for Adjusted non-GAAP income (loss) per share, Marchex uses the accounting guidance that would be applicable for computing the number of diluted shares for GAAP net income (loss) per share.

 

 EX-101.PRE 3 mchx-20231108_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT EX-101.SCH 4 mchx-20231108.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 100000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 5 mchx-20231108_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Entity Address, State or Province Entity Address, State or Province Trading Symbol Trading Symbol Soliciting Material Soliciting Material Entity Address, City or Town Entity Address, City or Town Written Communications Written Communications Entity Central Index Key Entity Central Index Key Entity Tax Identification Number Entity Tax Identification Number Entity Registrant Name Entity Registrant Name Document Period End Date Document Period End Date Entity Address, Postal Zip Code Entity Address, Postal Zip Code Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Local Phone Number Local Phone Number City Area Code City Area Code Pre-commencement Tender Offer Pre-commencement Tender Offer Cover [Abstract] Security Exchange Name Security Exchange Name Entity Emerging Growth Company Entity Emerging Growth Company Amendment Flag Amendment Flag Entity File Number Securities Act File Number Entity Address, Address Line Two Entity Address, Address Line Two Entity Address, Address Line One Entity Address, Address Line One Title of 12(b) Security Title of 12(b) Security Document Type Document Type XML 6 R1.htm IDEA: XBRL DOCUMENT v3.23.3
Document and Entity Information
Nov. 08, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Nov. 08, 2023
Entity Registrant Name Marchex, Inc.
Entity Central Index Key 0001224133
Entity Emerging Growth Company false
Entity File Number 000-50658
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 35-2194038
Entity Address, Address Line One 1200 5th Ave
Entity Address, Address Line Two Suite 1300
Entity Address, City or Town Seattle
Entity Address, State or Province WA
Entity Address, Postal Zip Code 98101
City Area Code 206
Local Phone Number 331-3300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class B Common Stock, par value $0.01 per share
Trading Symbol MCHX
Security Exchange Name NASDAQ
XML 7 mchx-20231108_htm.xml IDEA: XBRL DOCUMENT 0001224133 2023-11-08 2023-11-08 0001224133 false 8-K 2023-11-08 Marchex, Inc. DE 000-50658 35-2194038 1200 5th Ave Suite 1300 Seattle WA 98101 206 331-3300 false false false false Class B Common Stock, par value $0.01 per share MCHX NASDAQ false EXCEL 8 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0 ( .N!:%<'04UB@0 +$ 0 9&]C4')O<',O87!P+GAM M;$V./0L",1!$_\IQO;=!P4)B0-!2L+(/>QLOD&1#LD)^OCG!CVX>;QA&WPIG M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGDK7A.YNJQ<&4GPZ4A!0W_J=0U[R;UEA_6\#MI7E!+ P04 M " #K@6A7_Z$S0>X K @ $0 &1O8U!R;W!S+V-O&ULS9)1 M2\,P$,>_BN2]O:9%T=#E9<,G!<&!XEM(;EM8DX;DI-VW-ZU;A^@'\#%W__SN M=W"M#D+W$5]B'S"2Q70SNLXGH<.*'8B" $CZ@$ZE,B=\;N[ZZ!3E9]Q#4/JH M]@AU5=V!0U)&D8()6(2%R&1KM- 1%?7QC#=ZP8?/V,TPHP$[=.@I 2\Y,#E- M#*>Q:^$*F&"$T:7O IJ%.%?_Q,X=8.?DF.R2&H:A')HYEW?@\/[\]#JO6UB? M2'F-^5>R@DX!5^PR^:U9;[:/3-95W12<%]7]MN:"WPK^\#&Y_O"["KO>V)W] MQ\870=G"K[N07U!+ P04 " #K@6A7F5R<(Q & "<)P $P 'AL+W1H M96UE+W1H96UE,2YX;6SM6EMSVC@4?N^OT'AG]FT+QC:!MK03621A'^_1S80RY8-[9)-NIL\!"SI^\Y%1^?H.'GS[BYBZ(:(E/)X M8-DOV]:[MR_>X%#BVR]*+ M41B1%G\@M MNN01.+5)#3(3/PB=AIAJ4!P"I DQEJ&&^+3&K!'@$WVWO@C(WXV(]ZMOFCU7 MH5A)VH3X$$8:XIQSYG/1;/L'I4;1]E6\W*.76!4!EQC?-*HU+,76>)7 \:V< M/!T3$LV4"P9!AI@S M&L%&KQMUAVC2/'K^!?F<-0HACA*FNVB<5@$_9Y>PTG!Z(++9OVX?H;5,VPLCO='U!=*Y \FIS_I,C0' MHYI9";V$5FJ?JH,@H%\;D>/N5Z> HWEL:\4*Z">P'_T=HWPJOX@L Y M?RY]SZ7ON?0]H=*W-R-]9\'3BUO>1FY;Q/NN,=K7-"XH8U=RSTS0LS0[=R2^JVE+ZU)CA* M]+',<$X>RPP[9SR2';9WH!TU^_9==N0CI3!3ET.X&D*^ VVZG=PZ.)Z8D;D* MTU*0;\/YZ<5X&N(YV02Y?9A7;>?8T='[Y\%1L*/O/)8=QXCRHB'NH8:8S\-# MAWE[7YAGE<90-!1M;*PD+$:W8+C7\2P4X&1@+: '@Z]1 O)256 Q6\8#*Y"B M?$R,1>APYY=<7^/1DN/;IF6U;J\I=QEM(E(YPFF8$V>KRMYEL<%5'<]56_*P MOFH]M!5.S_Y9KF4Q9Z;RWRT,"2Q;B%D2XDU=[=7GFYRN>B)V^I=W MP6#R_7#)1P_E.^=?]%U#KG[VW>/Z;I,[2$R<><41 71% B.5' 86%S+D4.Z2 MD 83 >LX=SFWJXPD6L_UC6'ODRWSEPVSK> U[F M$RQ#I'[!?8J*@!&K8KZZKT_Y)9P[M'OQ@2";_-;;I/;=X Q\U*M:I60K$3]+ M!WP?D@9CC%OT-%^/%&*MIK&MQMHQ#'F 6/,,H68XWX=%FAHSU8NL.8T*;T'5 M0.4_V]0-:/8--!R1!5XQF;8VH^1."CS<_N\-L,+$CN'MB[\!4$L#!!0 ( M .N!:%<%]!Z"8P0 #$1 8 >&PO=V]R:W-H965T&UL MC9AO<^(V$,:_BL;M=-J9!%LV$)(",X0DOC5KWH!EO(]_6JV?E>EOI/K0*\X-V29QJ@?.RICLSG5UN.()TRV9\11^ M64B5, -#M71UICB+BJ D=GW/Z[H)$ZDS[!?G)FK8E[F)1P)=]C/V))/N?DMFR@8N:5*)!*>:B%3HOABX(SHW;W?L0'% M%;\+OM$GQ\1.92[EAQT\1P/'LT0\YJ&Q$@R^UGS,X]@J <<_!U&GO*<-/#T^ MJC\5DX?)S)GF8QF_B\BL!D[/(1%?L#PV;W+SB1\F5 "&,M;%)]GLKVVW'1+F MVLCD$ P$B4CWWVQ[2,1I0.],@'\(\ ON_8T*R@=FV+"OY(8H>S6HV8-BJD4T MP(G4KLK4*/A50)P9/L@PAR0;PM*(/*9&F!UY3O>K#5GKNP9N8B]UPX/@_5[0 M/R/X*MUZ/R-\0[C-?!X>&]Z\\(1+N$ M:*,J(R"("HJGF"WK*/#X!8LU1S@Z)4?GLF1,N!+2%E1$H"QK\X(K%654U%%3 M(75+MBZJ>"CN-[X4MI0 \I4EM62XS@M38(W;*WA,PA;"=5-RW5S"-8:T*1:# M:L2WY#/?U9'A2I[G4=]OTP!+5Z_$ZEV"]9APM13IDOP"\69%QC+)6%H+A^LU ME=AMR75["=>3B#EYS9,Y5W4LN 8DZKKC=3L]A(=ZE8-ZEQ!!.4B5257XYA69 M&JA[(A5D+(>5A06646VU-:@_/&*0)S9/+X&HC9])!Q%$9BTOCH>D"]P'?F:UN<.EZ2P-R$=J-K1&BL]6GD] MQ=T:99QM9"TC+CG-!=0)#3P/(ZP: <6=_%O"L1U!%<[DIKZ9XW)3SHR)T>15 MO8'BEOXM6OF$3)1*NWJQ@B/8<9]'P05\KXN!5 V!X@[^18:0D\E*IICS-H@$ ;T.&HJ] M:@44]_%W)8SAJ6U*29X>#$W74N%"32K?]W&3GBA^'4)Z.#Q?^VTJ[!1A0_UUL:A?OP:]1K*3?3UNSO\C>]8Z M![)&0%RV$; R>Q]WYID YR-R0:C_X_PG,N5A#O56N_5I4!K'#)K$?5>'&G M1H8?5R1CBJQ9G'/RO=?R*,E@UGK%%$I?-0(?=^Z98I&MPNDNFAU-'T8_5K'Y)Z\ -L_$V"/#IM636*^ M "6O=0/":O]^OA\8F17OQ'-IX V[.%QQ!G5G+X#?%U*:X\"^9I?_D@S_!5!+ M P04 " #K@6A7GZ ;\+$" #B# #0 'AL+W-T>6QEO%DN7/ZZZ>S;"=I=67=A['- MHN6/O.-%Q[I#)6,>=5 M6R=M8SDK6W!2,EG>W&2)8D+38JT[=:=<2PZFTVY#;VA2K"NCSY:4!H-?RA0G MCTQNZ)9)L;=B6,N4D*=@7H+A8*2QQ'DJ?$,78&F? KP(&K XU7=>&18/QA<0&>7=J?$,:\M.B^4M/3L, M/S[)WMB2VSG-@DZF8BUY!72LJ(_PZTR3 .B<45XH!:N-9@.'R6,4?-@#E_(! M6OBMNHK=5R3TXE,);2"PU4GTA$8QA D*Q+^,%F)?A+W]K;"D$8_&?>S\;O2@ M?^^,X_>65Z(?]+Z:\V/1%WATUC3R]$&*6BL>]O[+"8LUF_S(T5CQY+/!I!R\ M@5M*'KEUXG!I^6%9L^.]FZ:IKW#.RW^0\Y^M<\TUMTQ>DO:C_S=7^2V,D_'T M7!S1JP,Z6PEY7>>9 ]IV03NA1.XJRY/K%.?7A'=O["_PJOE]?\HIU MTNUF<$//\A=>BD[E\ZI[J,NXZBQ_AOMHD\%G' M!QR>(W?#$T%^@2O&+(= M/EB>N$_NG_A.\SQ-LPRKZ'8;9;#%ZI9E\!>/AG$##RP/9'I;K?%NXQ/R^AQ@ M/7UM0K"=XI.([12O-2#QNH%'GL>[C>4!#ZP+V.Q _G@>F*FX3YI"5S%NV G& MD3S'$)C%^(QF&5*=##[Q_F"G)$WS/(X %F>0IA@"IQ%', ; 4/2='@//GL? M)=-[*CG_5U/\!%!+ P04 " #K@6A7EXJ[', 3 @ "P %]R96QS M+RYR96QSG9*Y;L,P#$!_Q=">, ?0(8@S9?$6!/D!5J(/V!(%BD6=OZ_:I7&0 M"QEY/3P2W!YI0.TXI+:+J1C]$%)I6M6X 4BV)8]ISI%"KM0L'C6'TD!$VV-# ML%HL/D N&6:WO606IW.D5XA-/E_G;@2=&A(E@6FD7)TZ(=I7\=Q_:0T^FO8R*T>EOH^7%H M5 J.W&,EC'%BM/XU@LD/['X 4$L#!!0 ( .N!:%<<.&7J/P$ #P" / M >&PO=V]R:V)O;VLN>&ULC5'+;L) #/R5U7Y $U"+5$2XE#Z0JA:5BON2 M=8C%/B*O RU?7R=15*1>>O)Z;(UG9A?G2,=]C$?UY5U(A:Z9FWF6I;(&;])- M;"#(I(KD#4M+ARPU!,:F&H"]RZ9Y/LN\P:"7BY%K0]EU$QE*QA@$[( =PCG] MSKM6G3#A'AWR=Z'[MP.M/ ;T> %;Z%RK5,?S2R2\Q,#&;4N*SA5Z,@QV0(SE M'WC;B?PT^]0C;/8?1H04>I8+8864N-_H^8UH/($L#UW+\0D= ZT,PS/%ML%P MZ&C$179EH\]AK$.(<_I/C+&JL(15+%L/@8<<"5PG,*0:FZ15,!X*/:XH$ZQZ M#"PAJ748J&2WEY MIK=WDWM)J'7N0;#W\!J-'[IFBG#S^0W1U MW6E\./VR./ /,+Q=Z*E%9"E*%1KD3,)HMC;!4N++3):BJ#(9BBJ6<%H@XLD@ M;6E6?;!/3K3G>1,)KM\,<'AT_@%02P,$% @ ZX%H5V60>9(9 M 0 SP, !, !;0V]N=&5N=%]4>7!E&ULK9--3L,P$(6O$F5;)2XL M6*"F&V +77 !8T\:J_Z39UK2VS-.VDJ@$A6%3:QXWKS/GI>LWH\1L.B=]=B4 M'5%\% )5!TYB'2)XKK0A.4G\FK8B2K636Q#WR^6#4,$3>*HH>Y3KU3.T.EY&TWP39G 8ED\C<+,:DH9HS5*$M?%P>L?E.I$J+EST&!G(BY84(JKA%SY M'7#J>SM 2D9#L9&)7J5CE>BM0#I:P'K:XLH90]L:!3JHO>.6&F,"J;$#(&?K MT70Q32:>,(S/N]G\P68*R,I-"A$YL01_QYTCR=U59"-(9*:O>"&R]>S[04Y; M@[Z1S>/]#&DWY(%B6.;/^'O&%_\;SO$1PNZ_/[&\UDX:?^:+X3]>?P%02P$" M% ,4 " #K@6A7!T%-8H$ "Q $ @ $ 9&]C M4')O<',O87!P+GAM;%!+ 0(4 Q0 ( .N!:%?_H3-![@ "L" 1 M " :\ !D;V-097)PC$ 8 )PG 3 " &UL4$L! A0#% @ ZX%H5P7T'H)C! ,1$ !@ M ("!#0@ 'AL+W=O?H!OPL0( .(, - " :8, !X;"]S='EL97,N>&UL M4$L! A0#% @ ZX%H5Y>*NQS $P( L ( !@@\ M %]R96QS+RYR96QS4$L! A0#% @ ZX%H5QPX9>H_ 0 / ( \ M ( !:Q 'AL+W=O7!E&UL4$L%!@ ) D /@( ' 84 $! end XML 9 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 11 FilingSummary.xml IDEA: XBRL DOCUMENT 3.23.3 html 1 23 1 false 0 0 false 0 false false R1.htm 100000 - Document - Document and Entity Information Sheet http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports mchx-20231108.htm mchx-20231108.xsd mchx-20231108_lab.xml mchx-20231108_pre.xml http://xbrl.sec.gov/dei/2023 true false JSON 13 MetaLinks.json IDEA: XBRL DOCUMENT { "version": "2.2", "instance": { "mchx-20231108.htm": { "nsprefix": "mchx", "nsuri": "http://www.marchex.com/20231108", "dts": { "inline": { "local": [ "mchx-20231108.htm" ] }, "schema": { "local": [ "mchx-20231108.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd", "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd", "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd", "https://xbrl.sec.gov/country/2023/country-2023.xsd", "https://xbrl.sec.gov/dei/2023/dei-2023.xsd" ] }, "labelLink": { "local": [ "mchx-20231108_lab.xml" ] }, "presentationLink": { "local": [ "mchx-20231108_pre.xml" ] } }, "keyStandard": 23, "keyCustom": 0, "axisStandard": 0, "axisCustom": 0, "memberStandard": 0, "memberCustom": 0, "hidden": { "total": 2, "http://xbrl.sec.gov/dei/2023": 2 }, "contextCount": 1, "entityCount": 1, "segmentCount": 0, "elementCount": 24, "unitCount": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2023": 23 }, "report": { "R1": { "role": "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation", "longName": "100000 - Document - Document and Entity Information", "shortName": "Document and Entity Information", "isDefault": "true", "groupType": "document", "subGroupType": "", "menuCat": "Cover", "order": "1", "firstAnchor": { "contextRef": "C_c1c8d5c6-3a0c-4926-af6d-7afd2a69d549", "name": "dei:DocumentType", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "p", "body", "html" ], "reportCount": 1, "baseRef": "mchx-20231108.htm", "first": true, "unique": true }, "uniqueAnchor": { "contextRef": "C_c1c8d5c6-3a0c-4926-af6d-7afd2a69d549", "name": "dei:DocumentType", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "p", "body", "html" ], "reportCount": 1, "baseRef": "mchx-20231108.htm", "first": true, "unique": true } } }, "tag": { "dei_Security12bTitle": { "xbrltype": "securityTitleItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "Security12bTitle", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Title of 12(b) Security", "label": "Title of 12(b) Security", "documentation": "Title of a 12(b) registered security." } } }, "auth_ref": [ "r0" ] }, "dei_DocumentType": { "xbrltype": "submissionTypeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentType", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Document Type", "label": "Document Type", "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'." } } }, "auth_ref": [] }, "dei_EntityAddressCityOrTown": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressCityOrTown", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, City or Town", "label": "Entity Address, City or Town", "documentation": "Name of the City or Town" } } }, "auth_ref": [] }, "dei_EntityRegistrantName": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityRegistrantName", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Registrant Name", "label": "Entity Registrant Name", "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC." } } }, "auth_ref": [ "r1" ] }, "dei_LocalPhoneNumber": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "LocalPhoneNumber", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Local Phone Number", "label": "Local Phone Number", "documentation": "Local phone number for entity." } } }, "auth_ref": [] }, "dei_DocumentPeriodEndDate": { "xbrltype": "dateItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentPeriodEndDate", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Document Period End Date", "label": "Document Period End Date", "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD." } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine2": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressAddressLine2", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, Address Line Two", "label": "Entity Address, Address Line Two", "documentation": "Address Line 2 such as Street or Suite number" } } }, "auth_ref": [] }, "dei_EntityFileNumber": { "xbrltype": "fileNumberItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityFileNumber", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity File Number", "label": "Securities Act File Number", "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen." } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine1": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressAddressLine1", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, Address Line One", "label": "Entity Address, Address Line One", "documentation": "Address Line 1 such as Attn, Building Name, Street Name" } } }, "auth_ref": [] }, "dei_SecurityExchangeName": { "xbrltype": "edgarExchangeCodeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SecurityExchangeName", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Security Exchange Name", "label": "Security Exchange Name", "documentation": "Name of the Exchange on which a security is registered." } } }, "auth_ref": [ "r2" ] }, "dei_CityAreaCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CityAreaCode", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "City Area Code", "label": "City Area Code", "documentation": "Area code of city" } } }, "auth_ref": [] }, "dei_CoverAbstract": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CoverAbstract", "lang": { "en-us": { "role": { "label": "Cover [Abstract]", "documentation": "Cover page." } } }, "auth_ref": [] }, "dei_EntityIncorporationStateCountryCode": { "xbrltype": "edgarStateCountryItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityIncorporationStateCountryCode", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Incorporation, State or Country Code", "label": "Entity Incorporation, State or Country Code", "documentation": "Two-character EDGAR code representing the state or country of incorporation." } } }, "auth_ref": [] }, "dei_PreCommencementIssuerTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementIssuerTenderOffer", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Pre-commencement Issuer Tender Offer", "label": "Pre-commencement Issuer Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act." } } }, "auth_ref": [ "r3" ] }, "dei_EntityTaxIdentificationNumber": { "xbrltype": "employerIdItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityTaxIdentificationNumber", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Tax Identification Number", "label": "Entity Tax Identification Number", "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS." } } }, "auth_ref": [ "r1" ] }, "dei_EntityAddressPostalZipCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressPostalZipCode", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, Postal Zip Code", "label": "Entity Address, Postal Zip Code", "documentation": "Code for the postal or zip code" } } }, "auth_ref": [] }, "dei_EntityAddressStateOrProvince": { "xbrltype": "stateOrProvinceItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressStateOrProvince", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, State or Province", "label": "Entity Address, State or Province", "documentation": "Name of the state or province." } } }, "auth_ref": [] }, "dei_AmendmentFlag": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "AmendmentFlag", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Amendment Flag", "label": "Amendment Flag", "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission." } } }, "auth_ref": [] }, "dei_SolicitingMaterial": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SolicitingMaterial", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Soliciting Material", "label": "Soliciting Material", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act." } } }, "auth_ref": [ "r5" ] }, "dei_EntityCentralIndexKey": { "xbrltype": "centralIndexKeyItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityCentralIndexKey", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Central Index Key", "label": "Entity Central Index Key", "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK." } } }, "auth_ref": [ "r1" ] }, "dei_EntityEmergingGrowthCompany": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityEmergingGrowthCompany", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Emerging Growth Company", "label": "Entity Emerging Growth Company", "documentation": "Indicate if registrant meets the emerging growth company criteria." } } }, "auth_ref": [ "r1" ] }, "dei_PreCommencementTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementTenderOffer", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Pre-commencement Tender Offer", "label": "Pre-commencement Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act." } } }, "auth_ref": [ "r4" ] }, "dei_TradingSymbol": { "xbrltype": "tradingSymbolItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "TradingSymbol", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Trading Symbol", "label": "Trading Symbol", "documentation": "Trading symbol of an instrument as listed on an exchange." } } }, "auth_ref": [] }, "dei_WrittenCommunications": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "WrittenCommunications", "presentation": [ "http://www.marchex.com/20231108/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "lang": { "en-us": { "role": { "terseLabel": "Written Communications", "label": "Written Communications", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act." } } }, "auth_ref": [ "r6" ] } } } }, "std_ref": { "r0": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b" }, "r1": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b-2" }, "r2": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "d1-1" }, "r3": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "13e", "Subsection": "4c" }, "r4": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "14d", "Subsection": "2b" }, "r5": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Section": "14a", "Number": "240", "Subsection": "12" }, "r6": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Securities Act", "Number": "230", "Section": "425" } } } ZIP 14 0000950170-23-061145-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000950170-23-061145-xbrl.zip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end