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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net revenue $ 106,150 $ 119,934 $ 336,027 $ 384,746
Operating expenses:        
Cost of revenue [1] 13,812 14,482 43,737 48,328
Sales and marketing [1] 52,466 51,635 150,226 184,922
General and administrative [1] 25,005 28,986 80,667 79,895
Research and development [1] 2,085 2,173 6,778 6,740
Depreciation and amortization 1,001 836 2,979 2,053
Impairment of intangible assets 584 0 584 0
Related party expense 155 96 487 290
Total operating expenses 95,108 98,208 285,458 322,228
Income from operations 11,042 21,726 50,569 62,518
Other income (expense), net 182 (3,651) 807 15,568
Interest income (expense), net 1,511 (183) 3,062 (572)
Income before income taxes 12,735 17,892 54,438 77,514
Income tax expense 691 1,383 2,046 3,945
Net income 12,044 16,509 52,392 73,569
Net income attributable to noncontrolling interests 11,904 20,521 50,749 59,875
Net income (loss) attributable to MarketWise, Inc. $ 140 $ (4,012) $ 1,643 $ 13,694
Earnings per share - basic (USD per share) $ 0.00 $ (0.17) $ 0.05 $ 0.59
Earnings per share - diluted (USD per share) $ 0.00 $ (0.17) $ 0.05 $ 0.59
Weighted average shares outstanding - basic (in shares) 32,910 23,533 30,883 23,233
Weighted average shares outstanding - diluted (in shares) 33,632 23,566 31,996 23,267
Nonrelated Party        
Net revenue $ 105,799 $ 119,297 $ 334,777 $ 383,383
Related Party        
Net revenue $ 351 $ 637 $ 1,250 $ 1,363
[1] (1) 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