← MARKETWISE, INC.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Cost of revenue | $42.6m | $154.6m | $239.3m | $62.7m | $56.8m | $50.7m | $44.3m | |
| Research and development | $3.7m | $4.8m | $7.5m | $8.8m | $8.8m | $9.9m | $8.8m | |
| Total operating expenses | $246.7m | $902.9m | $1.5b | $425.1m | $396.4m | $319.7m | $265.5m | |
| Income from operations | $25.6m | ($350k) | ($967.6m) | $87.3m | $51.8m | $89.0m | $62.6m | |
| Sales and marketing | $106.1m | $214.3m | $296.9m | $235.3m | $198.6m | $160.7m | $131.0m | |
| General and administrative | $91.7m | $300k | $960.2m | $114.8m | $125.2m | $90.7m | $78.3m | |
| Depreciation and amortization | $2.3m | $2.6m | $2.7m | $3.1m | $3.8m | $2.8m | $2.2m | |
| Impairment losses | — | — | $0 | $0 | $2.6m | $4.4m | $380k | |
| Interest income, net | $1.6m | $477k | ($110k) | ($295k) | $4.9m | $5.3m | $3.0m | |
| Total net revenue | $272.2m | $364.2m | $549.2m | $512.4m | $448.2m | $408.7m | $328.1m | |
| Income before income taxes | $28.0m | ($541.1m) | ($951.5m) | $102.7m | $56.1m | $96.4m | $66.6m | |
| Net income | $28.0m | ($541.1m) | ($953.9m) | $101.2m | $54.3m | $93.1m | $64.0m | |
| Net income attributable to MarketWise, Inc. | $28.0m | ($140k) | ($1.0b) | $18.0m | $1.8m | $7.1m | $5.6m | |
| Net income attributable to noncontrolling interests | $36k | ($2.7m) | $59.4m | $83.2m | $52.5m | $86.0m | $58.4m | |
| Earnings per share – basic (USD per share) | — | — | — | $0.73 | $0.06 | $0.18 | $2.41 | |
| Earnings per share – diluted (USD per share) | — | ($0.02) | — | $0.73 | $0.05 | $0.18 | $2.31 | |
| Weighted average shares outstanding – basic (in shares) | — | — | — | 24.6m | 31.7m | 38.3m | 2.3m | |
| Weighted average shares outstanding – diluted (in shares) | — | — | — | 24.7m | 33.3m | 39.4m | 2.4m | |
| Related party expense | $331k | $122k | $10.2m | $379k | $572k | $525k | $564k | |
| Other income (expense), net | $865k | ($2.9m) | $16.2m | $15.7m | ($611k) | $2.1m | $1.0m | |
| Income tax expense | $0 | $0 | $2.4m | $1.5m | $1.8m | $3.3m | $2.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.