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Summary
- Marin Software jumped 86.55% to US$3.19 at 9:34 am ET on June 24.
- MRIN joined hands with Instacart to provide MarinOne services on its platform.
- Marin’s cash and cash equivalents were US$15.2 million in the March quarter.
The stock of Marin Software (MRIN) jumped 86.55% to US$3.19 at 9:34 am ET on June 24, 2021. Shares of Marin Software have been active lately.
Marin Software Incorporated (NASDAQ:MRIN) is a cloud-based digital marketing solution provider for search, social, e-commerce and mobile advertising channels.
Marketing and advertising professionals can use its platform for analytics, workflow, and optimization solution to help them enhance their digital advertising spend.
Marin’s intuitive user interface and technology, like predictive bid management technology, helps advertisers optimize their campaigns across multiple publishers and channels to attain desired revenue outcomes.
This San Francisco-headquartered company has offices across the world capitals such as Paris, London, Shanghai, and Dublin.
In the quarter ended March 31, 2021, the company logged revenue of US$6.3 million. It had registered revenues of US$8.7 million in the corresponding period of 2020.
It incurred a net loss applicable to common shareholder of US$2.2 million in the quarter, compared to US$3.9 million in the March quarter of 2020. The company’s liquidity position has been improving over the last few quarters. Its cash and cash equivalents and restricted cash were US$15.2 million at the end of the March quarter, 2021.
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Source: Pixabay.
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Marine generates revenue from subscription by advertising agencies and strategic agreement with publishers. Its major revenue comes from the US, generating approximately 76% of the total revenue in the last quarter. The UK and others contributed the remaining US$1.54 million.
MarinOne is the company’s flagship product offering advertisers a software platform to optimize their advertising spend. It gives advertisers the ability to understand gaps in the spend and revenue performance.
On Wednesday, MRIN added another feature to its MarinOne platform to manage Instscart ads. Advertisers and brands will be able to connect with the customers directly on the point of sales.
Instacart is an online grocery platform connecting 55,000 stores in roughly 5,500 cities. It has a presence in the US and Canada. It has partnerships with nearly 600 retailers to deliver goods.
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Instacart offers self-service to advertisers on its platform. Its integration with MRIN will benefit its customers since MarinOne will give them the tools to work on their ad spend.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
