Along with its Q1 results, Marin Software (MRIN) announces it has hired David Yovanno, most recently the EVP of technology solutions at online ad services firm Conversant, to be its CEO. Founder Chris Lien, who has been CEO since Marin's birth, will stick around as executive chairman.
Marin is guiding for Q2 revenue of $22.9M-$23.3M and EPS of -$0.26 to -$0.28 vs. a consensus of $22.8M and -$0.24. Full-year guidance is for revenue of $96.8M-$98M and EPS of -$0.87 to -$0.90, above a consensus of $95.8M and -$0.92.
704 advertisers used Marin's ad tech platform in Q1, up from 673 in Q4 and 542 a year ago. Gross margin was 66%, flat Q/Q and up from 60% a year ago.