MarketWise Q3 2026 Billings Rise 26.8% as Paid Subscribers Fall Sequentially

MarketWise’s third-quarter 2026 billings rose 26.8% year over year to $80.7 million, while paid subscribers fell from June as the financial research platform shifted toward monetizing existing subscribers.

Billings for the three months ended Sept. 30 were up from $63.7 million a year earlier but below the $91.2 million recorded in the second quarter. The year-over-year growth rate also slowed from 57% in Q2. Billings count the amounts invoiced to customers.

Paid subscribers totaled 389,062 at quarter-end, down from 399,866 on June 30. The count was higher than the 378,588 subscribers a year earlier. Average revenue per user, or ARPU, reached $860, compared with $822 in Q2 and $566 a year earlier. That was the highest figure in the company’s five-quarter comparison.

MarketWise calculates ARPU using net billings over a trailing four-quarter period divided by average quarterly paid subscribers over that period. The company reduced marketing investment in Q3 as it prioritized monetizing its existing subscriber base and generating cash.

“Consistent with our plans, we moderated customer acquisition in the third quarter as we shifted toward monetization and cash generation for the remainder of the year,” CEO Dr. David Eifrig said. MarketWise plans to continue prioritizing monetization in Q4 and said paid subscribers could see similar declines.

GAAP net revenue was $80.1 million, down 1.5% from a year earlier. MarketWise recognizes subscription revenue over subscription terms that can span multiple years, so revenue may differ from billings. The two measures therefore reflect different parts of the company’s subscription business: billings track invoices, while revenue is recognized over the subscription period.