Shares of Marin Software Inc (NASDAQ:MRIN) tumbled in pre-market trade Friday, after the cloud-centered digital marketing software group disappointed investors by posting a loss of $2.8 million in the fourth quarter.
In its latest quarter, the San Francisco company reported a loss of $0.48 per share and a loss of $0.06 per share on an adjusted basis.
Its sales also fell to $15.8 million, from $17.7 million in the fourth quarter of 2017.
Boost to company in 2019
In response, Marin shares slid 28.8% to $4.70 before the opening bell.
In a statement, Marin CEO Chris Lien said the company's recent revenue-share agreement with Google and support for additional channels such as YouTube will boost the company's fortunes in 2019.
"All of our customers now have access to our latest technology to help them deliver performance from their Search, Social and eCommerce advertising," Lien said. "Support for additional channels like Apple Search Ads and YouTube, along with our recently announced revenue share agreement with Google, will help us drive growth for our customers in 2019."
For the full year, Marin saw losses widen to $41.67 million, or $7.21 per share on revenue of $58.6 million.
Looking ahead to the current quarter ending March 31, Marin expects revenues to fall between $12.3m and $12.8 million and its non-GAAP loss from operations to stay in the range of $3.7 million to $4.2 million.
Marin sells enterprise marketing software to advertisers.
Contact Ellen Kelleher at [email protected]