MARKETWISE, INC.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income $28.0m ($541.1m) ($953.9m) $101.2m $54.3m $93.1m $64.0m
Depreciation and amortization $2.3m $2.6m $2.7m $3.1m $3.8m $2.8m $2.2m
Deferred taxes $0 $0 $2.4m $1.5m $1.8m $2.9m $954k
Impairment and other charges $0 $287k $2.6m $4.4m $380k
Operating lease liabilities ($2.5m) ($2.1m) ($1.2m) ($1.7m) ($1.5m) ($1.4m) ($3.3m)
Stock-based compensation $8.6m $18.7m $210.9m $9.0m $23.4m $12.2m $11.1m
Change in fair value of contingent consideration $0 $0 $507k ($1.2m)
Change in fair value of derivative liabilities – other $478k $3.1m ($18.0m) ($15.7m) $1.8m $0 $0
Unrealized (gains) losses on foreign currency ($131k) $0 ($38k) ($97k) $23k ($18k) ($20k)
Other gains $0 $0 ($2.2m)
Noncash lease expense $3.1m $2.6m $1.9m $1.9m $2.1m $2.1m $3.2m
(Gain) loss on sale of business $0 $0 $1.6m ($2.0m) $0
Accounts receivable ($6.5m) ($5.1m) $4.6m $3.8m ($488k) $2.7m ($3.8m)
Related party receivables and payables ($13.8m) ($4.7m) ($1.2m) ($982k) ($2.3m) $2.6m $1.1m
Prepaid expenses ($2.0m) ($329k) ($4.5m) $1.3m $2.4m ($746k) ($748k)
Other current assets and other assets ($335k) ($841k) ($744k) ($543k) $1.5m $1.2m $455k
Deferred contract acquisition costs ($6.8m) ($64.9m) ($95.8m) $5.5m $31.3m $63.5m $20.5m
Trade and other payables ($5.2m) $22k ($7.3m) ($4.0m) ($200k) $3.5m ($123k)
Accrued expenses $10.1m $26k $14.2m ($477k) $9.1m ($31.8m) $9.9m
Deferred revenue $36.7m $178.8m $175.6m ($52.0m) ($67.1m) ($162.1m) ($56.1m)
Derivative liabilities $0 $0 $662k $0 ($3.1m) $0 $0
Other current and long-term liabilities $4.9m $10.1m $5.3m ($3.8m) $1.3m ($15.4m) ($305k)
Cash paid for acquisitions, net of cash acquired ($1.5m) $0 ($7.1m) ($12.8m) ($170k) $0 $0
Purchases of property and equipment ($177k) ($290k) ($157k) ($35k) ($65k) ($133k) ($391k)
Capitalized software development costs ($752k) $0 ($123k) ($136k) ($1.7m) ($548k) ($1.2m)
Shares and restricted stock units withheld to pay taxes $0 $0 ($515k) ($6.0m) ($1.4m) ($2.4m)
Repurchases of stock $0 $0 ($3.3m) ($13.1m) $0 ($10.8m) ($3.4m)
Net cash provided by (used in) operating activities $54.2m ($592k) $63.6m $48.4m $62.4m ($22.1m) $46.0m
Net cash used in investing activities $12.4m ($414.0m) ($8.3m) ($13.2m) ($1.9m) ($681k) ($1.6m)
Proceeds from issuance of common stock $0 $0 $827k $678k $301k $418k
Tax distributions to noncontrolling interests ($3.4m) ($9.6m) ($49.8m)
Other distributions to noncontrolling interests ($5.5m) ($4.6m) ($52.9m) ($21.1m) ($12.2m)
Dividends paid $0 $0 ($5.7m) ($1.5m) ($4.8m)
Net cash used in financing activities ($27.3m) $415.5m ($30.7m) ($16.2m) ($64.0m) ($34.5m) ($72.1m)
Effect of exchange rate changes on cash ($41k) ($14k) $8k $53k $21k ($9k) ($20k)
Net decrease in cash, cash equivalents and restricted cash $39.2m ($57.2m) $24.7m $19.0m ($3.4m) ($57.3m) ($27.7m)
Cash, cash equivalents and restricted cash — beginning of period $172.1m $114.9m $139.6m $158.6m $155.2m $97.9m $70.1m