MarketWise reported $387M of remaining performance obligations at 30 Sep 2026, up 3% from a year earlier and down 0% from the previous quarter. That is 1.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.
Net new backlog added in the latest quarter: -$200,000.
Over the last twelve months it turned about 84% of its opening backlog into revenue (12-month conversion).
48% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 48.0% of the backlog.
Twelve-month book-to-bill: 1.04, i.e. 1.04 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +11 points — orders are running ahead of revenue.
By backlog size it ranks 337th among US filers the cockpit tracks.
MarketWise backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$387M
$316M
1.2 yrs
$185M
30 Jun 2026
$387M
$318M
1.2 yrs
$190M
31 Mar 2026
$374M
$322M
1.2 yrs
$183M
31 Dec 2025
$370M
$328M
1.1 yrs
$182M
30 Sep 2025
$375M
$342M
1.1 yrs
$187M
30 Jun 2025
$394M
$358M
1.1 yrs
$199M
31 Mar 2025
$415M
$383M
1.1 yrs
$211M
31 Dec 2024
$427M
$409M
1.0 yrs
$215M
30 Sep 2024
$463M
$423M
1.1 yrs
$227M
30 Jun 2024
$510M
$432M
1.2 yrs
$249M
31 Mar 2024
$566M
$431M
1.3 yrs
$276M
31 Dec 2023
$592M
$448M
1.3 yrs
$285M
Questions
What is MarketWise's backlog?
MarketWise reported $387M of remaining performance obligations at 30 Sep 2026, up 3% from a year earlier and down 0% from the previous quarter. That is 1.2 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.
How fast does MarketWise's backlog turn into revenue?
Over the last twelve months MarketWise recognised revenue equal to about 84% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.