Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Marin Software Inc. (NYSE:MRIN)jumped as much as 10% early Thursday, then settled to close up around 4% after the ad revenue management specialist turned in solid first-quarter results and announced a CEO transition.

So what: Marin's revenue growth accelerated to its highest rate since Q4 of 2012, with sales increasing 33% year over year, to $22.8 million. That translated to a narrower adjusted net loss of $0.21 per share. Analysts, on average, were looking for a larger loss of $0.27 per share on sales of $21.64 million.

Better yet, Marin raised its full-year 2014 guidance, which now calls for revenue of $96.8 million to $98.0 million, with an adjusted net loss per share of $0.90 to $0.87. The midpoint of both ranges is well ahead of Wall Street's expectations, which currently model a 2014 loss of $0.92 per share on sales of $95.79 million.

In addition, Marin announced its founding CEO will assume a new role as executive chairman. Stepping in as CEO is David Yovanno, who most recently served as executive vice president, technology solutions at Conversant.

Now what: It's hard to blame the market for bidding up shares today given Marin Software's solid results. However, I personally remain hesitant considering Marin still expects to lose $28 million this year -- and that's on a non-GAAP basis. In the end, Marin Software has plenty of cash to hold it over while it strives to achieve sustained profitability; but for now. I prefer keeping it on my watch list to track its progress as it closes the gap in the coming quarters.

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Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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