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MarketWise Reports Net Income of $22.7 Million and Net Revenue of $97.2 Million for Third Quarter 2024
MarketWise (NASDAQ: MKTW) reported its Q3 2024 financial results with net income of $22.7 million, up from $12.0 million in Q3 2023. Total net revenue decreased to $97.2 million from $106.2 million year-over-year. The company's paid subscribers declined to 592,000 from 774,000 in the previous year. Total billingsdropped to $48.9 million from $95.5 million. Cash and cash equivalents stood at $94.1 million. The company noted positive momentum with October billings reaching approximately $19 million, showing improvement from Q3's monthly average of $16 million.
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