Our activities to support brands and their agencies continue to take place against an active backdrop of governmental antitrust investigations at the federal and state levels and in the EU of the businesses of leading publishers in the digital advertising market. There is also the potential of Federal legislation to regulate certain conduct of the leading publishers, which could benefit Marin’s role as an independent ad management platform. Marin enjoys coopetition relationships with the leading publishers, and we do not expect significant changes in these relationships in the near-term. Although, we are not a party to any lawsuits or a target in these investigations, Marin spent less than $100,000 in Q4 on legal fees in conjunction with responding to official requests that Marin has received related to these various investigations.
We expect to spend at similar levels in the coming quarter based on the legal activity that we are seeing, which is primarily providing information in response to various subpoenas. As I have shared in prior calls, I believe Marin has a tremendous opportunity. Our Marin One development efforts have taken longer and acquired more investment than originally projected. Marin can benefit as consumers spend increasing time online and ad dollars follow them, creating more need for brands to measure, manage, and optimize these investments to acquire customers and drive revenue outcomes in an increasingly fragmented online advertising landscape. We are seeing growing interest in brands taking a cross-channel approach to their digital advertising investments, including early interest in Marin’s budget optimization functionality, which we call Marin Ascend.
Marin, with our Marin One platform and our team of digital advertising experts is well-positioned to support leading brands and their agencies in these efforts. And now, Bob, will review our fourth quarter and full year financial results and our outlook for the first quarter of 2024.
Bob Bertz: Thank you, Chris. I’ll provide an overview of our fourth quarter and full year results and then share our forecast for the first quarter of 2024. I’ll begin with a review of our income statement. For the fourth quarter of 2023, Marin generated $4.4 million in revenue, which was at the high end of our guidance. Revenue was down approximately 16% when compared to total revenue for the fourth quarter of 2022. For the full year 2023, revenue totaled $17.7 million, which is a year-over-year decrease of 11% as compared to $20 million in 2022. Our geographic split for revenue was approximately 80% U.S. and 20% International for both Q4 and the full year of 2023. Moving on to our operating results, as a reminder, our financial statements and a reconciliation of our GAAP to non-GAAP financial measures can be found in our earnings release issued earlier today.
As I’ve discussed on previous calls, we commenced the implementation of a restructuring plan July of 2023. The restructuring plan is expected to reduce our pre-tax cost structure by approximately $10 million to $13 million on an annualized basis. Close to $10 million of the estimated annualized cost savings is expected to come from the reduction-in-force, which reduced our workforce globally by 65 positions as well as approximately 15 full time equivalent contractor roles. The reduction-in-force was complete as of the end of the year. We incurred approximately $1.8 million in restructuring costs, substantially, all of which relates to severance and other one-time termination benefits. We began to realize the associated savings during the third quarter of 2023 and we expect to fully realize the estimated savings in 2024.
This restructuring helps to bring our expense base more in line with our current revenues. Our non-GAAP operating loss was $1.9 million for the fourth quarter of 2023 as compared to a $4.2 million loss for the fourth quarter of 2022. The $1.9 million non-GAAP operating loss in Q4 beat the high end of our guidance by approximately $100,000. The decrease in operating loss as compared to Q4 2022 is attributable to the implementation of our restructuring plan, which was partially offset by lower revenue. Our full year 2023 non-GAAP operating loss is $14.6 million as compared to a $17.7 million loss in 2022. The decrease in loss year-over-year is attributable to expense savings in the second half of the year as a result of the restructuring, which was also partially offset by lower revenue.
Our Q4 non-GAAP operating expenses were $4.6 million, which represents a 33% decrease when compared to the fourth quarter of 2022. The decrease is attributable to the restructuring plan we commenced in the third quarter of 2023. For the full year, our non-GAAP operating expenses were $23.4 million, which represents a decrease of approximately 14% as compared to 2022, again primarily due to the implementation of our restructuring plan in the third quarter. We ended the year with 108 total headcount versus 177 a year ago. In terms of our balance sheet, we ended the quarter with a total cash balance of $11.4 million as compared to a $13.6 million balance at the end of the previous quarter. We will continue to carefully monitor our cash levels.
