• Marketwise is like **The Motley Fool, but operating a larger collection of niche investment research publications and services.**
• Think of it as **a diversified 'Motley Fool' focused on specialized subscription-based investment newsletters and research.**
• It's a **digital publisher of financial insights and stock recommendations, similar to a network of 'Motley Fool'-style services** for individual investors.

• Subscription-Based Investment Research: This service provides subscribers with market analysis, stock recommendations, and investment strategies through various digital newsletters, reports, and platforms.
• Financial Education and Training: This service offers educational courses, webinars, and content designed to teach individuals about investing, trading, and personal finance.
• Digital Financial Media Publishing: This service involves publishing a wide array of financial news, commentary, and expert insights across various specialized brands and imprints.

Marketwise (symbol: MKTW) primarily sells its subscription services and products to **individuals**, specifically self-directed investors seeking independent financial research, education, and investment tools.

The company serves a broad spectrum of individual investors, which can be categorized as follows:

• Beginner and Intermediate Self-Directed Investors: These customers are typically looking for foundational financial education, basic investment strategies, and guidance to help them start investing or enhance their existing portfolios. They are often interested in long-term growth strategies, dividend investing, and general market commentary.

• Experienced and Sophisticated Self-Directed Investors: These customers possess a greater understanding of financial markets and are seeking more advanced research, specialized investment strategies (e.g., options trading, commodities, specific sectors), and in-depth analysis to optimize their returns or manage risk. They are often looking for actionable insights and expert opinions beyond basic advice.

• Active Traders and High-Frequency Investors: This segment comprises individuals who engage in frequent trading activities and require timely market analysis, real-time alerts, quantitative tools, and specialized strategies designed for short-term opportunities across various asset classes (e.g., stocks, options, cryptocurrencies, forex).

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Dr. David Eifrig, Chief Executive Officer

Dr. David Eifrig was appointed Chief Executive Officer of MarketWise in August 2024. He was previously listed as CEO in July 2021.

Erik Mickels, Chief Operating and Financial Officer

Erik Mickels was appointed Chief Financial Officer of MarketWise effective August 15, 2023, and subsequently named Chief Operating and Financial Officer in August 2025. Prior to joining MarketWise, he served as the Group Chief Financial Officer and Senior Vice President of Trilogy International Partners, Inc. since 2016. His tenure at Trilogy also included roles as Vice President of Finance and Chief Accounting Officer from 2015 to 2016, and Vice President and Corporate Controller from 2014 to 2015. Before Trilogy, Mr. Mickels held increasingly senior positions at KPMG LLP from 2000 to 2014. His experience includes guiding acquisitions, leading successful initiatives, and the sale of a billion-dollar international subsidiary. He played a key role in building and scaling a publicly traded telecommunications business, leading its public offering, and overseeing a successful exit in 2022. Mr. Mickels is a Certified Public Accountant, holds a Bachelor's degree in accounting from Hillsdale College, and is a graduate of the Advanced Management Program at Harvard Business School.

Marco Galsim, Chief Information Officer

Marco Galsim became Chief Information Officer for MarketWise in 2020, having previously served as the Head of Technology for seven years. He is responsible for leading the development of the company's innovative, robust, scalable, and secure technology infrastructure.

Scott Daniel Forney, General Counsel and Corporate Secretary

Scott Daniel Forney was promoted to General Counsel and Corporate Secretary at MarketWise in 2023, following five years as Assistant General Counsel. He oversees the company's legal and compliance functions and offers strategic business and legal advice to the board of directors, executive leadership team, and operating companies across various practice areas.

Lee Harris, Senior Vice President, Financial Planning & Analysis

The rapid advancement and increasing sophistication of artificial intelligence (AI) and generative AI tools pose a clear emerging threat to Marketwise's business model. These technologies are increasingly capable of performing automated financial analysis, synthesizing vast amounts of market data, generating investment insights, and creating personalized financial content. As AI tools become more powerful, accessible, and potentially cheaper or free, they could significantly erode the value proposition of Marketwise's subscription-based, human-curated financial research, software, and education services. This parallels how Netflix's streaming technology fundamentally disrupted Blockbuster's physical media business by offering a new, more efficient way to consume content.

MarketWise (NASDAQ: MKTW) operates a multi-brand digital subscription services platform, providing self-directed investors with a range of products including financial research, software, education, and investment tools both in the United States and internationally.

The addressable markets for MarketWise's main products and services can be estimated by examining related industry segments:

• Global Education Technology Market: MarketWise's offerings include financial education. The global education technology (EdTech) market was estimated at $163.49 billion in 2024 and is projected to reach $348.41 billion by 2030, growing at a CAGR of 13.3% from 2025 to 2030.
• Global Financial Services Market: MarketWise provides financial research, software, and tools. The global financial services market size is projected to grow to $47.55 trillion in 2029 with a compound annual growth rate (CAGR) of 7.1%. This broader market encompasses various financial activities, including investment services. The global financial market size was recorded at $26.88 trillion in 2021 and is expected to reach $35.85 trillion by the end of 2025.

• Growth in Paid Subscribers: MarketWise is actively working on increasing its total number of paid subscribers. The company is developing initiatives specifically aimed at enhancing customer acquisition, improving engagement, and boosting retention rates to expand its subscriber base.
• Increasing Average Revenue Per User (ARPU): The company is focused on driving higher Average Revenue Per User, indicating an effort to better monetize its existing customer base and the value customers find in its products.
• Launch of New Products and Targeted Marketing Campaigns: MarketWise acknowledges that the timing of product launches and focused marketing campaigns can significantly influence its financial results and cash flow. These initiatives are expected to play a role in driving revenue.
• Prudent Investments in the Business: As part of its disciplined capital allocation strategy, MarketWise plans to make prudent investments back into its business. These investments are intended to support and fuel overall growth.

Share Repurchases

• In November 2021, the Board of Directors authorized a share repurchase program of up to $35 million of Class A common stock, which was set to expire on November 3, 2023.
• A new share repurchase program of up to $50 million of Class A common stock was authorized by the Board in February 2025.
• Since April 2025, the company repurchased 174,897 shares for $2.9 million, with repurchases under this program suspended effective October 30, 2025, following a proposal to acquire the company.

Share Issuance

• A 1-for-20 reverse stock split was implemented on April 2, 2025, which reduced the issued and outstanding Class A common stock from approximately 49.5 million shares to about 2.47 million shares, and Class B common stock from roughly 276.6 million shares to 13.8 million shares.

Inbound Investments

• On October 29, 2025, MarketWise received a proposal from Monument & Cathedral Holdings, LLC to acquire all outstanding equity interests not already owned by them for $17.25 per share.

Capital Expenditures

• For the nine months ended September 30, 2025, capital expenditures totaled $1.038 million.
• For the last 12 months (prior to late 2025 filings), capital expenditures were -$259,000.
• Capital expenditures primarily focus on purchases of property and equipment, along with capitalized software development costs.