MARIN SOFTWARE INC
Technology · Services-Computer Processing & Data Preparation · DE · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | |
|---|---|---|---|---|---|---|
| Revenue | $17.7M | $20.0M | $24.4M | $30.0M | $49.0M | $58.6M |
| Operating income | −$22.8M | −$22.0M | −$14.1M | −$16.3M | −$19.8M | −$42.3M |
| Net income | −$21.9M | −$18.2M | −$12.9M | −$14.1M | −$12.4M | −$41.2M |
| Total assets | $19.3M | $42.1M | $59.8M | $37.0M | $42.3M | $46.8M |
| Total liabilities | $5.7M | $9.4M | $13.6M | $21.2M | $21.2M | $17.4M |
| Equity | $13.6M | $32.7M | $46.3M | $15.8M | $21.1M | $29.4M |
| EPS (diluted) | $-1.24 | $-1.15 | $-1.01 | — | — | — |
| Shares out. | 17.2M | 15.5M | 10.9M | 6.8M | 5.9M | 5.7M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2023- Operating margin
- −128.6%
- Net margin
- −123.6%
- Return on equity
- −160.7%
- Return on assets
- −113.5%
- Return on capital (ROCE)
- −151.7%
- Liabilities / assets
- 29.4%
- Debt / equity
- 0.42×
- Book value / share
- $0.79
- Revenue growth (YoY)
- −11.4%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2023- Altman Z″ (distress)
- -59.27distress
- Accruals / assets
- −38.0%clean
- Beneish M-Score
- -4.44normal
- Piotroski F-Score
- 2/9weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 4 warning● 2 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue declined year-over-year
- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 14, 2025
- NT 10-Qmissed a reporting deadline ↗May 15, 2025
- NT 10-Kmissed a reporting deadline ↗Mar 31, 2025
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Material events
SEC Form 8-K · most recent- Terminated a material agreement · Bankruptcy or receivership · Unregistered equity sale · Modified shareholder rights · Change in control · Director / officer change · Other material eventSep 5, 2025
- Regulation FD disclosureAug 22, 2025
- Entered a material agreement · Bankruptcy or receivership · New financial obligationAug 4, 2025
- Changed auditor · Regulation FD disclosureJul 24, 2025
- Regulation FD disclosureJul 10, 2025
- Entered a material agreement · Bankruptcy or receivership · New financial obligation · Director / officer change · Other material eventJul 3, 2025
- Delisting / listing-standard notice · Other material eventJun 20, 2025
- Shareholder vote · Other material eventJun 12, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.