Marin Software Incorporated (NYSE:MRIN) Q3 2019 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 05:00 pm ET
pressure. At the same time, we continue to believe that our strategy is sound and that our initiatives will show results in the coming quarters. Additionally, there are some green shoots present even if not yet sufficient to return Marin to growth. Our view is that as we deliver a more compelling product to our market, then good results will follow. As such, we continue to invest a substantial amount in product development to better meet the needs of the digital marketer.
As announced in today's earnings release, Q3 revenues came in at $11.7 million, which was above the high end of our guidance but still down from the prior year. We also outperformed on our forecast operating loss. Our cash balance at the end of Q3 was $10.1 million, reflecting a modest use of cash of $700,000, reflecting our ongoing commitment to manage costs. We will continue to monitor our cash use closely, balancing investments and cost savings, and we are committed to making sure that Marin is adequately funded.
Marin seeks to be an ally in digital for the world's leading brands and their agencies. Customers and prospects traverse a range of channels, devices and publishers online on their path to purchase. Marketers need a cross-channel platform to engage in all points of this customer journey. And as we have highlighted, the walled gardens of Google, Facebook and Amazon do not play well together, leaving brands to connect the dots on their own. Marin helps these advertisers to measure, manage and optimize their online advertising investments to maximize their results, to acquire customers and to drive revenue.
Today, Tools from the publishers understandably focus on how to enable a given advertiser to spend more money on ads from that particular publisher. Marin serves as a performance layer to supplement their capabilities and to provide an objective independent measurement of advertising performance. As we've highlighted in previous discussions, can you imagine a publisher tool set informing an advertiser that his or her marginal dollar should be invested on a competitor's platform. Marin is uniquely positioned to meet this growing demand. But as we have shared before, our vision remains ahead of many brands and agencies who are not yet ready to make this change.
Over time, we believe Marin's approach will become the new standard, and Marin will be rewarded for its leadership as the online advertising management category evolves to this new state. As we invest in product innovation, we are creating more compelling reasons for brands and their agencies to select Marin. As we have discussed in the past, we have been investing in the development and adoption of MarinOne, our next-generation cross-channel platform. Having made MarinOne available to all customers in recent quarters, we are now focused on delivering differentiated functionality to brands to enable them to enjoy greater performance and efficiency from their online advertising investment.
As part of this effort, Marin continues to invest in MarinOne bidding as a key area where Marin can