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TickerMCHX
SectorAdvertising Agencies
Mkt cap$70M
EV / EBITDAN/A
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1224133

Marchex, Inc.

MCHXHIGH VELOCITYFILING INTENSITY

Marchex, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Marketing & Data.

Lens

Disclosed M&A capital (2023–2025)

N/A

−99%

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

0/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$45M
EBITDAN/A
Enterprise value$61M
EV / Revenue1.3×
EV / EBITDAN/A
P/EN/A
Cash$10M
Total debt$800K
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

16/100

Companies actively deploying disclosed capital into M&A

  • $106M disclosed buyer spend

Buyer Cadence

18/100

Buyer-side companies with recent filing activity

  • Filed within 39d
  • 290 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 30 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 30 activism filings

Pressure Watch

42/100

Issuers facing activism, governance, or control pressure

  • 30 activism filings
  • Latest activism 2.6y ago; discounted

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 207d stale
  • 30 activism filings

Restatement Risk

6/100

Issuers with accounting-integrity flags from filings

  • 2 auditor changes
  • Latest event 3.6y ago; discounted

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 290 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $61M
  • 10-Q 207d ago
  • 3 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $48M · Peak count: 2

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/A$100KN/AN/A
2020N/A$8MN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Bolt On
    20%
  • Horizontal Consolidation
    20%
  • Tuck In
    20%
  • Technology Acquisition
    20%
  • Platform
    20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • bolt_on
  • horizontal_consolidation
  • tuck_in
  • technology_acquisition
  • platform
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

There has been a trend toward industry consolidation in our markets for several years. We expect this trend to continue as companies attempt to strengthen or hold their market positions.

10-KFY2025

There are a number of companies that develop or may develop products that compete in our targeted markets.

10-KFY2020

Furthermore, there has been a trend toward industry consolidation in our markets for several years.

10-KFY2020
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Marketing & Data

Market spend (2023–2025)
$51.4B
Market spend (2020–2022)
$63.5B
Recent vs prior
−19%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

Trading comparables unavailable for this wedge.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)312026-04-17
  • 10-Q (quarterly)652025-11-14
  • 8-K (event)2902026-05-01
  • Proxy / DEF 14A332025-11-04
  • Activism (13D / DFAN / PREC)302023-11-13

Signals on file

  • elevated

    Auditor change

    2022-11-15

    2 Item 4.01 filings on file; certifying accountant change.

  • elevated

    Activism on file

    2023-11-13

    30 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.