Digital marketing firm Marin Software’s revenue dipped 8.7% in the third quarter to $24.0 million from $26.3 million a year earlier.
That decline was less than the vendor expected as its third quarter guidance suggested revenue would be between $23.4-$23.9 million. Marin offers technology that’s used by 52 retailers in the Internet Retailer 2016 Top 1000, according to Internet Retailer’s Top500Guide.com.
Marin is in the midst of a large rebranding effort that aims to reposition the company from a search-oriented ad management platform into a broader, cloud-based multichannel advertising platform. For instance, during the quarter it began supporting Facebook’s video link ads and carousel video ads, as well as developed an algorithmic budget allocation tool that automatically applies budget recommendations to top-performing audiences.
“We continue to make progress in our efforts to advance Marin’s cross-channel performance advertising platform,” says CEO Christopher Lien. “We believe our investments in technology and product innovation to better meet the needs of our customers will be critical to improving our operating results in the future.”
For the third quarter ended Sept. 30, Marin Software reported:
- Revenue of $24.0 million, down 8.7% from $26.3 million during the same time last year.
- A net loss of $3.1 million compared with a $9.5 million loss.
For the first nine months of the year, Marin Software also reported:
- Revenue of $77.0 million, down 3.1% from $79.5 million a year earlier.
- A net loss of $11.9 million, compared with a $31.2 million loss.