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MarketWise, Inc. operates a content and technology multi-brand platform for self-directed investors in the United States and Internationally. Its platform provides financial research, software, education, and tools to navigate the financial markets through subscription businesses. The company also offers various investment strategies, such as value investing, income, growth, commodities, cryptocurrencies, venture, crowdfunded investing, biotechnology, mutual funds, options, and trading; and investment research product portfolio through a range of media, including desktops, laptops, tablets, and mobile. In addition, it provides a diversified product portfolio for various financial research products under the Stansberry Research, Chaikin Analytics, Brownstone Research, InvestorPlace, Altimetry, Wide Moat Research, Brownstone Research, The Opportunistic Trader, and TradeSmith brand names. Further, the company develops screeners, monitors, portfolio management tools, and proprietary indicators that produce a composite score to rank publicly traded companies. The company was founded in 1999 and is based in Baltimore, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $328M | $65M | $6M | $44M | -2.6% | -19.7% | -20.4% |
| 2024 | $409M | $96M | $7M | $-23M | -3.2% | -8.8% | 296.1% |
| 2023 | $448M | $58M | $2M | $61M | -0.6% | -12.5% | -90.1% |
| 2022 | $512M | $90M | $18M | $48M | -6.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 512.40 | 448.18 | 408.70 | 328.12 |
| Cost Of Revenue | 62.70 | 56.80 | 50.66 | 44.34 |
| Gross Profit | 449.71 | 391.38 | 358.04 | 283.79 |
| Operating Expense | 362.42 | 336.99 | 264.61 | 220.81 |
| Operating Income | 87.28 | 54.39 | 93.43 | 62.98 |
| EBITDA | 90.37 | 58.21 | 96.19 | 65.16 |
| EBIT | 87.28 | 54.39 | 93.43 | 62.98 |
| Pretax Income | 102.66 | 56.10 | 96.36 | 66.60 |
| Tax Provision | 1.49 | 1.80 | 3.25 | 2.56 |
| Net Income | 17.99 | 1.78 | 7.06 | 5.62 |
| Net Income Common Stockholders | 17.99 | 1.78 | 7.06 | 5.62 |
| Total Expenses | 425.12 | 393.79 | 315.27 | 265.15 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Research And Development | 8.82 | 8.83 | 9.91 | 8.81 |
| Selling General And Administration | 350.51 | 324.34 | 251.94 | 209.81 |
| Normalized EBITDA | 90.37 | 60.79 | 100.63 | 65.54 |
| Normalized Income | 17.99 | 4.28 | 11.35 | 5.99 |
| Basic EPS | 12.39 | 1.12 | 3.57 | 26.19 |
| Diluted EPS | 12.39 | 1.07 | 3.57 | 26.19 |
| Tax Effect Of Unusual Items | 0 | -0.08 | -0.15 | -0.01 |
| Tax Rate For Calcs | 0.01 | 0.03 | 0.03 | 0.04 |
| Total Unusual Items | 0 | -2.58 | -4.45 | -0.38 |
| Total Unusual Items Excluding Goodwill | 0 | -2.58 | -4.45 | -0.38 |
| Net Income From Continuing Operation Net Minority Interest | 17.99 | 1.78 | 7.06 | 5.62 |
| Reconciled Depreciation | 3.09 | 3.82 | 2.75 | 2.19 |
| Reconciled Cost Of Revenue | 62.70 | 56.80 | 50.66 | 44.34 |
| Net Interest Income | -0.29 | 4.90 | 5.29 | 2.96 |
| Net Income From Continuing And Discontinued Operation | 17.99 | 1.78 | 7.06 | 5.62 |
| Total Operating Income As Reported | 87.28 | 51.80 | 88.99 | 62.60 |
| Diluted Average Shares | 1.45 | 1.67 | 1.98 | 2.45 |
| Basic Average Shares | 1.45 | 1.58 | 1.98 | 2.45 |
| Diluted NI Availto Com Stockholders | 17.99 | 1.78 | 7.06 | 5.62 |
| Minority Interests | -83.18 | -52.51 | -86.05 | -58.42 |
| Net Income Including Noncontrolling Interests | 101.17 | 54.30 | 93.11 | 64.04 |
| Net Income Continuous Operations | 101.17 | 54.30 | 93.11 | 64.04 |
| Other Income Expense | 15.67 | -3.19 | -2.36 | 0.66 |
| Other Non Operating Income Expenses | 15.67 | -0.61 | 2.08 | 1.04 |
| Special Income Charges | 0 | -2.58 | -4.45 | -0.38 |
| Impairment Of Capital Assets | 0 | 2.58 | 4.45 | 0.38 |
| Net Non Operating Interest Income Expense | -0.29 | 4.90 | 5.29 | 2.96 |
| Total Other Finance Cost | 0.29 | -4.90 | -5.29 | -2.96 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 3.09 | 3.82 | 2.75 | 2.19 |
| Depreciation And Amortization In Income Statement | 3.09 | 3.82 | 2.75 | 2.19 |
| Selling And Marketing Expense | 235.33 | 198.59 | 160.71 | 130.95 |
| General And Administrative Expense | 115.19 | 125.75 | 91.24 | 78.86 |
| Other Gand A | 115.19 | 125.75 | 91.24 | 78.86 |
| Operating Revenue | 512.40 | 448.18 | 408.70 | 328.12 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MarketWise, Inc.this co. | MKTW | $47M | 7.64↓ discount | -3.69 | -2.6% | -3.48 |
| Union Bankshares, Inc. | UNB | $115M | 10.37 | 1.43 | 13.7% | - |
| Silvercrest Asset Management Group Inc. | SAMG | $107M | 23.59 | 2.04 | 5.8% | 9.86 |
| Sound Financial Bancorp, Inc. | SFBC | $98M | 14.04 | 0.96 | 6.5% | - |
| Kestrel Group Ltd | KG | $89M |
| 1.12 |
| 0.58 |
| 36.4% |
| - |
| Vroom, Inc. | VRM | $80M | - | 0.69 | -45.5% | 57.65 |
| Siebert Financial Corp. | SIEB | $72M | 13.46 | 0.79 | 5.7% | - |
| eHealth, Inc. | EHTH | $62M | - | 0.10 | 6.8% | 7.11 |
| GoHealth, Inc. | GOCO | $31M | - | 0.45 | 4834.1% | -7.69 |
| Peer Median | - | 13.46 | 0.74 | 6.7% | 8.48 | |