Acquisition Stock Purchase Agreement ("SPA") Information |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisition Stock Purchase Agreement ("SPA") Information | Note 13: Acquisition Stock Purchase Agreement ("SPA") Information On July 1, 2026, the Company consummated the previously-announced acquisition of 100% of the outstanding shares of capital stock of Archenia from its stockholders, pursuant to the SPA, dated May 8, 2026, by and among the Company and sellers. In acquiring 100% of the outstanding shares of capital stock of Archenia, the Company indirectly acquired all of the assets that support Archenia’s business. Archenia is a performance-based marketing technology company focused on customer qualification and acquisition. Archenia transforms consumer intent into AI-verified, outcome-based results by leveraging AI, natural-language analytics, and automated decisioning to identify and deliver high-intent consumer interactions to advertisers. As consideration for the transaction and pursuant to the SPA, on the closing date the Company issued an aggregate of $10.0 million in convertible promissory notes issued to the sellers. The notes bear interest at 6% and are payable in three equal tranches on the 12-, 18- and 24-month anniversaries of the closing date. Principal and interest under the notes are convertible in whole or in part into shares of Marchex’s Class B common stock at $1.80 per share. The notes also include customary events of default, including failure to pay amounts when due and certain bankruptcy or insolvency events. Upon an event of default, the outstanding principal and unpaid accrued interest may become immediately due and payable. As additional consideration for the transaction and pursuant to the SPA, for each of the first and second 12-month periods following the closing date, to the extent (1) Archenia’s revenue or Adjusted EBITDA exceed such amounts for the 12-month period prior to the closing date, and (2) Archenia achieves certain specified integration or customer retention targets, Marchex will issue to the sellers an aggregate of 2.0 million shares of its Class B common stock for each such period. The following tables detail, with intercompany balances and transactions eliminated and not including any contingent considerations that may be paid, unaudited Pro Forma Combined information for the current and prior year periods presented:
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