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Summary
- The stock value more than doubled last week.
- On Monday, Marin Software stock jumped up to 90 percent.
- The stock rally started after following the integration of Instacart Ads on MarinOne.
Marin Software Incorporated (NASDAQ:MRIN) surged up to 90 percent on Monday’s trading to set a new 52-week high of US$7.25. The stock rally picked up its momentum last week after the company announced the integration of Instacart Ads.
The company’s stock gained 132 percent during the last one week. Marin Software currently has a market capitalization of US$72.7 million. Its share price traded between US$1.14 and US$7.25 during the last 52 weeks.
The stock price grew 229 percent year to date. As of 3:33 pm ET, Marin Software was trading at US6.64, up 74.15.
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What does Marin Software do?
The San Francisco-based company provides digital marketing software to advertisers. Marin Software’s cloud-based platform helps marketing professionals manage their digital advertising spending.
The platform is integrated with leading publishers including Apple, Amazon, Baidu, Bing, Facebook, Google and Instagram.
In 2020, the company generated revenue of US$30 million in 2020. Marin Software has been reporting significant losses since 2006 and does not expect to become profitable in 2021.
Marin Software posted a net loss of US$14.1 million in 2020, higher than the US$12.4 million loss in 2019.
Source: Pixabay
What is MarinOne and what is the deal with Instacart?
MarinOne is the flagship platform of Marin Software that integrates search, social and e-commerce advertising into a single platform. The company is currently migrating its customers from its two legacy products Marin Search and Marin Social to MarinOne.
Last week, the company said it has integrated Instacart Ads to MarinOne platform. Instacart is one of the leading online grocer delivery companies in North America. It delivers from nearly 55,000 stores in the U.S. and Canada.
Instacart provides self-service and managed advertisement services to over 2,500 consumer packaged goods brands that include the top 25 consumer packaged goods companies.
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Q1 results and Q2 outlook
Marin Software saw its net revenues drop 27 percent year over year to US$6.3 million from US$8.7 million.
Loss from operations narrowed to US$2.4 million from a loss of US$4.4 million in the year-ago quarter on a GAAP basis. Meanwhile, non-GAAP loss from operations totaled US$2.5 million, compared to US$3.5 million in the comparable period last year.
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For the second quarter of 2021, Marin Software projects its revenues in the range of US$5.5 million to US$6 million. Loss from operations is expected to come in between US$2.9 million to US$3.4 million, on a non-GAAP basis.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
