MKTW

MKT CAP:$43M

MarketWise, Inc.

Market Cap

$43M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$17.13+$2.08 (+13.82%)

Apr 21, 2026

Company Details

MarketWise, Inc. operates a multi-brand platform of subscription businesses that provides financial research, software, education, and tools for investors in the United States and Internationally. The company offers a portfolio of independe...

CEO

David Eifrig Jr.

IPO Date

Sep 14, 2020

Website

www.marketwise.com

Key Metrics TTM

Revenue

$367M

-18.6% YoY

Net Income

$6M

EPS (Diluted)

$2.87

Free Cash Flow

$5M

Revenue / Share

$141.38

Gross Margin

87.2%

Operating Margin

21.8%

Net Margin

1.7%

FCF Margin

1.5%

P/S

0.1x

P/E

7.0x

Earnings Reports

Q4 2025

May 14, 2026

PENDING

Q3 2025

Nov 6, 2025

$81MEPS $0.58

Q1 2025

May 8, 2025

$84M-23.4%EPS $0.41

Q4 2024

Mar 6, 2025

$97M-13.1%EPS $1.08

Q2 2024

Aug 14, 2024

$105M+1.4%EPS $0.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$98M	$71M	-$67M
Q4 20	$107M	$21M	-$374M
Q1 21	$120M	-$13M	-$615M
Q2 21	$142M	$115M	-$9M
Q3 21	$141M	$79M	-$373M
Q4 21	$147M	$129M	$29M
Q2 22	$128M	$112M	$23M
Q3 22	$120M	$105M	$22M
Q1 23	$126M	$111M	$31M
Q2 23	$104M	$89M	$9M
Q4 23	$112M	$99M	$1M
Q1 24	$109M	$96M	$22M
Q2 24	$105M	$92M	$21M
Q4 24	$97M	$86M	$24M
Q1 25	$84M	$72M	$17M
Q3 25	$81M	$71M	$18M

Valuation

Quarter	P/S	P/E
Q3 20	—	—
Q4 20	0.1x	—
Q1 21	0.1x	—
Q2 21	0.1x	—
Q3 21	0.1x	—
Q4 21	0.1x	—
Q2 22	0.1x	—
Q3 22	0.1x	—
Q1 23	0.1x	2.4x
Q2 23	0.1x	4.6x
Q4 23	0.1x	—
Q1 24	0.1x	13.0x
Q2 24	0.1x	12.7x
Q4 24	0.1x	7.8x
Q1 25	0.1x	6.9x
Q3 25	0.1x	7.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$73M	$73M
Q4 20	-$17M	-$17M
Q1 21	$92M	$92M
Q2 21	$59M	$59M
Q3 21	$59M	$59M
Q4 21	$5M	$5M
Q2 22	$27M	$27M
Q3 22	$10M	$10M
Q1 23	$4M	$4M
Q2 23	$29M	$29M
Q4 23	$18M	$17M
Q1 24	-$19M	-$19M
Q2 24	-$4M	-$4M
Q4 24	$6M	$6M
Q1 25	$2M	$2M
Q3 25	$2M	$2M

Capital Expenditures

Quarter	CapEx
Q3 20	$229.0K
Q4 20	$61.0K
Q1 21	$695.0K
Q2 21	$49.0K
Q3 21	$73.0K
Q4 21	$84.0K
Q2 22	$12.0K
Q3 22	$9.0K
Q1 23	$13.0K
Q2 23	$33.0K
Q4 23	$239.0K
Q1 24	$252.0K
Q2 24	$496.0K
Q4 24	$81.0K
Q1 25	$45.0K
Q3 25	$15.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+56.7%	+688.6%
Q2 21	+71.7%	-7.4%
Q3 21	+43.3%	+210.5%
Q4 21	+37.3%	-75.6%
Q2 22	+6.9%	-85.8%
Q3 22	-15.6%	-35.0%
Q1 23	-10.3%	-81.4%
Q2 23	-29.3%	-19.3%
Q4 23	-12.4%	+6.0%
Q1 24	-9.1%	-11.0%
Q2 24	-16.8%	-12.5%
Q4 24	-5.9%	-22.6%
Q1 25	-25.5%	-39.8%
Q3 25	-25.4%	-27.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	0.0%
Q4 20	$5M	5.0%
Q1 21	$44M	36.7%
Q2 21	$47M	33.4%
Q3 21	$0	0.0%
Q4 21	$2M	1.5%
Q2 22	$2M	1.9%
Q3 22	$2M	1.8%
Q1 23	$4M	2.9%
Q2 23	$4M	3.5%
Q4 23	$13M	11.7%
Q1 24	$4M	3.5%
Q2 24	$2M	1.6%
Q4 24	$0	0.0%
Q1 25	$3M	3.8%
Q3 25	$3M	3.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 20	$1M	$80M	$57M
Q4 20	$1M	$326M	$68M
Q1 21	$2M	$507M	$92M
Q2 21	$2M	$65M	$57M
Q3 21	$2M	$366M	$83M
Q4 21	$2M	$32M	$66M
Q2 22	$2M	$20M	$65M
Q3 22	$2M	$29M	$52M
Q1 23	$2M	$28M	$49M
Q2 23	$2M	$28M	$49M
Q4 23	$2M	$45M	$48M
Q1 24	$2M	$24M	$47M
Q2 24	$2M	$25M	$43M
Q4 24	$3M	$20M	$34M
Q1 25	$2M	$17M	$34M
Q3 25	$3M	$18M	$31M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 20	—	-67.9%	—
Q4 20	—	-349.8%	—
Q1 21	56.7%	-513.0%	-456.3
Q2 21	71.7%	-5.9%	65.8
Q3 21	43.3%	-264.8%	-221.5
Q4 21	37.3%	31.4%	68.7
Q2 22	6.9%	18.6%	25.6
Q3 22	-15.6%	18.7%	3.1
Q1 23	-10.3%	24.9%	14.7
Q2 23	-29.3%	9.4%	-19.9
Q4 23	-12.4%	3.6%	-8.8
Q1 24	-9.1%	20.4%	11.3
Q2 24	-16.8%	20.9%	4.2
Q4 24	-5.9%	30.2%	24.2
Q1 25	-25.5%	21.2%	-4.4
Q3 25	-25.4%	23.7%	-1.7

Rule of 40

Revenue Segments

Quarter	Advertising	Subscription and Circulation
Q1 24	$319.0K	$108M
Q2 24	$358.0K	$104M
Q4 24	—	$96M
Q1 25	$12.0K	$83M
Q3 25	$7.0K	$81M

Revenue by Geography

Quarter	Non-US	United States
Q3 21	$669.0K	$140M
Q4 21	$517.0K	$146M
Q2 22	$13.0K	$128M
Q3 22	$227.0K	$120M
Q1 23	$91.0K	$126M
Q2 23	—	$104M
Q4 23	—	$112M
Q1 24	—	$109M
Q2 24	—	$105M
Q4 24	—	$97M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$126M	$0	$126M
Q2 22	$151M	$0	$151M
Q3 22	$147M	$0	$147M
Q4 22	$159M	$0	$159M
Q1 23	$161M	$0	$161M
Q2 23	$187M	$0	$187M
Q3 23	$194M	$0	$194M
Q4 23	$155M	$0	$155M
Q1 24	$131M	$0	$131M
Q2 24	$109M	$0	$109M
Q3 24	$94M	$0	$94M
Q4 24	$98M	$0	$98M
Q1 25	$79M	$0	$79M
Q2 25	$69M	$0	$69M
Q3 25	$51M	$0	$51M
Q4 25	$70M	$0	$70M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	3M	0.0%	—
Q4 20	3M	0.0%	—
Q1 21	3M	0.0%	0.0%
Q2 21	3M	0.0%	0.0%
Q3 21	2M	-27.0%	-27.0%
Q4 21	2M	0.0%	-27.0%
Q2 22	1M	-41.0%	-56.9%
Q3 22	1M	+5.5%	-54.5%
Q1 23	2M	+29.6%	-19.3%
Q2 23	2M	+4.4%	-15.8%
Q4 23	2M	+14.3%	+63.2%
Q1 24	2M	+8.4%	+67.6%
Q2 24	2M	-1.5%	+27.3%
Q4 24	2M	+2.4%	+24.9%
Q1 25	2M	+8.7%	+18.7%
Q3 25	3M	+20.3%	+31.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	—	—
Q4 20	$36M	3
Q1 21	$40M	3
Q2 21	$47M	3
Q3 21	$47M	3
Q4 21	$183.3K	800
Q2 22	$160.0K	800
Q3 22	$149.9K	800
Q1 23	$172.4K	732
Q2 23	$141.6K	732
Q4 23	$192.0K	584
Q1 24	$186.6K	584
Q2 24	$179.9K	584
Q4 24	$222.0K	439
Q1 25	$190.2K	439
Q3 25	$185.1K	439

Revenue / Employee