Marin Software, Incorporated. (MRIN) stock soared 65.91% in the after-hours trading session at the price of $9.44 despite no fundamental reason. The last reported news on the website was MRIN’s integration with Criteo’s Commerce Media to promote eCommerce advertising. MRIN provides higher productivity and transparency to advertisers in their paid marketing programs that operate on the world’s largest publishers. The company offers a unified SaaS advertising management platform by helping digital marketers reach their targeted audience and improve financial performance.
Integration with Criteo’s Commerce Media
On 19th August 2021, MRIN published that it had integrated with Criteo’s Commerce Media Platform. The collaboration enables brands to manage and optimize both Criteo Marketing Solution and Retail Media campaigns. The integration helps to sponsor ads on the open webs to advertise products on the retailer’s websites. With the help of MRIN, the advertisers optimized above $40 billion in digital advertising spend across paid search and eCommerce advertising since 2007. CEO of MRIN, Chris Lien, remarked that eCommerce is one of the most inspiring and fastest-growing fields of digital marketing. This integration can tap into Criteo’s commerce data and intelligence to promote their mission of providing advertisers with seamless access to buyers, he added.
MRIN Second Quarter 2021 Financial Results
On 30th July 2021, MRIN announced its earnings report for the second quarter ended 30th June 2021. Chris Lien stated that integration into multiple marketplaces helps them to expand their advertising programs. The alliance with Instacart Ads enables marketers to meet the audience at the point of purchase. Resultantly, the advertisers will have higher sales growth and greater access to new customers. Their stronger balance sheet will expedite innovation and better serve the demands of the eCommerce market, he added.
Second Quarter 2021 Financial Summary
MRIN reported total net revenues of $6.1 million in the second quarter ended 30th June 2021. It represents a 16% decline compared to $7.3 million in the same quarter of 2020. GAAP operating loss was ($3.0) million in the second quarter ended on 30th June 2021. GAAP loss from operations was ($4.5) million in the second quarter of the previous year. MRIN reported a GAAP operating margin of (49%) in the second quarter of 2021. GAAP operating margin was (62%) during the second quarter of 2020. As of 30th June 2021, the cash and cash equivalents were $14.4 million. In July 2021, the company sold approximately 4.3 million shares for net proceeds of $38.8 million under the “at-the-market” offering program.
