Marin Software, one of the larger online marketing management software companies, filed for an initial public offering last night and revealed that it is not profitable, and doesn't expect to be "in the foreseeable future."
Here are the financial highlights from its numbers"
- Revenue: $42.5 million in the first nine months of 2012.
- Net income: a loss of $19.2 million through September 2012
- Marin lost $17.4 million in 2011.
- It spent $23.6 million on sales and marketing in the period.
- Balance sheet: It has $17 million in cash.
- Cashflow: The company had positive cashflow of $16.9 million,
- Much of that positive cashflow was generated by a $34 million sale of stock.
The guidance: "We do not expect to be profitable in the foreseeable future and we cannot be certain that we will be able to attain profitability on a quarterly or annual basis, or if we do, that we will sustain profitability."
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