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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net revenue $ 136,620 $ 119,341
Related party revenue 178 373
Total net revenue 136,798 119,714
Operating expenses:    
Cost of revenue [1],[2] 17,617 132,812
Sales and marketing [1],[2] 68,237 91,785
General and administrative [1],[2] 30,545 507,429
Research and development [1] 2,278 1,778
Depreciation and amortization 604 751
Related party expense 97 20
Total operating expenses 119,378 734,575
Income (loss) from operations 17,420 (614,861)
Other income (expense), net 7,296 (227)
Interest (expense) income, net (171) 5
Income (loss) before income taxes 24,545 (615,083)
Income tax expense 1,522 0
Net income (loss) 23,023 (615,083)
Net (loss) income attributable to non-controlling interests 17,198 (630)
Net income (loss) attributable to MarketWise, Inc. $ 5,825 (614,453)
Earnings per share    
Net income per Class A common share - basic (in usd per share) $ 0.24  
Net income per Class A common share - diluted (in usd per share) $ 0.24  
Weighted average shares outstanding, basic (in shares) 23,851  
Weighted average shares outstanding, diluted (in shares) 23,851  
Total stock-based compensation expense $ 2,588 601,075
Cost of revenue    
Earnings per share    
Total stock-based compensation expense 532 114,348
Sales and marketing    
Earnings per share    
Total stock-based compensation expense 565 14,070
General and administrative    
Earnings per share    
Total stock-based compensation expense $ 1,491 $ 472,657
[1] (2) Cost of revenue, sales and marketing, general and administrative, and research and development expenses are exclusive of depreciation and amortization shown as a separate line item
[2]
(1) Included within cost of revenue, sales and marketing, and general and administrative expenses are stock-based compensation expenses as follows (see Note 10 – Stock-Based Compensation):
Three Months Ended March 31,
20222021
Cost of revenue$532 $114,348 
Sales and marketing565 14,070 
General and administrative1,491 472,657 
Total stock based-compensation expense$2,588 $601,075