Short answer
MARKETWISE, INC. (MKTW) filed its fiscal 2025 10-K annual report with the SEC on Mar 6, 2026. It reported revenue of $328M (−19.7% year over year) and net income of $6M.
- Top risk flagged: Regulatory risk: FTC and state consumer protection agency inquiries on marketing compliance, including social media promotions, with potential fines or lawsuits
FY2025 key financial metrics · XBRL
- Revenue
- $328M
- −19.7% YoY
- Net income
- $6M
- −20.4% YoY
- Operating margin
- 19.1%
- −2.7 pp YoY
- EPS (diluted)
- $2.31
- +1183.3% YoY
- ROE
- -48.1%
- +8.2 pp YoY
- Operating cash flow
- $46M
- +307.5% YoY
Source: XBRL data from the MARKETWISE, INC. (MKTW) FY2025 10-K on SEC EDGAR. USD.
MARKETWISE, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Multi-brand subscription platform offering premium financial research, software, education, and tools for self-directed investors
- New emphasis: Software and analytical tools now 52% of Billings in 2025, including Chaikin Power Gauge, TradeStops, and Altimetry platforms
- Strategic shift: Increasing investment in AI and advanced analytics-driven marketing tools for customer acquisition and engagement
- Quantitative highlight: Approximately 374,000 Paid Subscribers with over 67 editors and analysts supporting broad investment coverage
- Noteworthy: Over 50% of 2025 Billings come from subscribers with more than 4 years tenure, reflecting high customer retention
Management Discussion & Analysis
- Revenue $328.1M in 2025, down 19.7% YoY from $408.7M in 2024, driven by $62.1M lower term subscription and $19.5M lower membership revenue
- Operating margin 19.1% in 2025 vs 21.8% in 2024; net income margin 19.5% in 2025 vs 22.8% in 2024, net income $64.0M vs $93.1M
- Best performing segment: Software-related new marketing billings up 22.3% to $199.1M in 2025; Worst: Legacy Research segment wind-down impacting subscriber count (-26% Paid Subscribers) and revenue
- Operating cash flow positive $46.0M in 2025 vs negative $(22.2)M in 2024; no debt, cash $70.1M end 2025; no explicit capex, buyback, or dividend details disclosed
- Forward outlook focuses on subscriber base growth, optimizing marketing spend for efficient customer acquisition, and managing churn from Legacy Research shutdown risks
Risk Factors
- Regulatory risk: FTC and state consumer protection agency inquiries on marketing compliance, including social media promotions, with potential fines or lawsuits
- Geopolitical risk: Exposure to ongoing conflicts in Middle East, Russia-Ukraine, China’s economic concerns, risking reduced subscriber demand from market volatility
- Operational risk: Dependence on email communication facing declining usage and legal restrictions limiting outreach to subscribers
- Competitive risk: Intense competition from Yahoo! Finance, Seeking Alpha, The Motley Fool, Bloomberg, and emerging social media platforms like X and Reddit
- Financial risk: Subscription revenue recognized ratably over term causes delayed reflection of new sales impacting quarterly cash flow and profitability
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