Cardlytics, Inc.

Listed Company

CDLXCIK 0001666071NasdaqAcceleratedSmaller ReportingServices-Computer Programming, Data Processing, Etc.DelawareFY ends Dec 31

Period

FY 2025

Revenue

$233.27M

Net Income

$-103.49M

Total Assets

$285.64M

Equity

$-6.51M

Shares Out

55.05M

Op. Cash Flow

$9.29M

Business

Cardlytics, Inc. operates a commerce media platform that connects anonymized purchase data to marketing and measurement solutions. It offers the Cardlytics financial media network for bank and digital channels, and the Bridg identity resolution and customer data platform (including Rippl retail media) for POS-level analytics, targeting and closed-loop measurement. Its key business segments are the Cardlytics platform serving financial institution partners and the Bridg platform serving merchant data partners and marketers. The company distributes services through FI digital channels, retail and digital advertising ecosystems across the U.S. and U.K.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	233	278	309	299	267
Partner Share and other third-party costs	103	128	151	156	141
Delivery costs	26	30	28	30	23
Sales and marketing expense	39	53	57	75	66
Research and development expense	40	50	51	54	38
General and administrative expense	47	56	59	81	66
Acquisition, integration and divestiture costs (benefits)	600,000	200,000	−6	−3	24
Change in contingent consideration	102,000	210,000	1	−128	1
Impairment of goodwill and intangible assets	59	132	71	453	0
Gain (Loss) on Disposition of Business	−5	0	7	0	0
Depreciation and amortization expense	25	26	26	38	30
Total costs and expenses	335	474	445	756	390
Operating loss	−102	−195	−136	−458	−123
Interest expense, net	−8	−6	−2	−3	—
Foreign currency gain/(loss)	6	−1	3	−6	−1
Gain on debt extinguishment	0	13	0	0	—
Total other (expense)/income	−2	6	968,000	−9	−14
Loss before income taxes	−103	−189	−135	−467	−136
Income tax benefit	0	0	0	1	8
Net Loss	−103	−189	−135	−465	−129
Net loss per share, basic (in dollars per share)	−1.95	−3.91	−3.69	−13.92	−3.99
Net loss per share, diluted (in dollars per share)	−1.95	−3.91	−3.69	−13.92	—
Weighted-average common shares outstanding, basic (in shares)	53	48	36	33	32
Weighted-average common shares outstanding, diluted (in shares)	53	48	36	33	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	49	66	92	122	233
Accounts receivable and contract assets, net	83	103	121	116	111
Other receivables	3	4	5	4	6
Prepaid expenses and other assets	3	5	6	8	8
Total current assets	137	178	224	250	359
Property and equipment, net	2	3	3	6	11
Right-of-use assets under operating leases, net	5	6	7	7	10
Intangible assets, net	6	11	35	53	126
Goodwill	110	159	277	353	743
Capitalized software development costs, net	24	33	25	20	13
Other long-term assets, net	1	2	3	3	2
Total assets	286	393	574	691	1,264
Accounts payable	3	4	4	4	5
Accrued compensation	6	5	12	10	12
Accrued expenses	8	7	10	21	20
Partner Share liability	25	32	49	49	47
Consumer Incentive liability	32	46	53	54	53
Contract with Customer, Liability, Current	3	2	2	2	3
Short-Term Debt	0	46	0	—	—
Current operating lease liabilities	2	2	2	5	6
Current contingent consideration	0	−5	−39	−104	−182
Total current liabilities	78	149	171	249	327
Convertible senior notes, net	169	168	228	226	184
Other Long-Term Debt	40	0	30	0	—
Long-term deferred revenue	52,000	0	67,000	334,000	173,000
Long-term operating lease liabilities	5	6	6	4	7
Total liabilities	292	323	439	480	573
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock	10,000	10,000	9,000	9,000	9,000
Additional paid-in capital	1,400	1,367	1,244	1,183	1,213
Accumulated other comprehensive (loss) income	−2	4	2	6	486,000
Accumulated deficit	−1,404	−1,301	−1,111	−977	−523
Total stockholders (deficit) equity	−7	70	135	212	691
Total liabilities and stockholders (deficit) equity	286	393	574	691	1,264

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Credit loss expense	2	6	2	2	2
Depreciation and amortization	25	26	26	38	30
Amortization of financing costs charged to interest expense	2	2	2	2	968,000
Amortization of right-of-use asset	2	2	3	6	6
Stock-based compensation expense	28	40	41	45	50
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease)	102,000	210,000	1	−128	1
Other non-cash expense (income), net	−6	1	−4	7	1
Accounts receivable and contracts assets, net	21	12	−8	−5	−28
Prepaid expenses and other assets	2	1	2	535,000	−1
Accounts payable	179,000	499,000	239,000	−893,000	1
Other accrued expenses	−724,000	−7	−7	−10	−905,000
Partner Share liability	−8	−16	405,000	2	9
Customer Incentive liability	−8	−7	−1	1	13
Net cash provided by (used in) operating activities	9	−9	−185,000	−54	−39
Acquisition of property and equipment	−480,000	−2	−667,000	−1	−3
Capitalized software development costs	−15	−18	−12	−12	−9
Proceeds from Divestiture of Businesses, Net of Cash Divested	500,000	600,000	2	0	0
Net cash used in investing activities	−15	−19	−10	−16	−507
Proceeds from issuance of debt	56	173	30	0	0
Principal payments of debt	−62	−199	−31,000	−35,000	0
Proceeds from termination of capped calls related to convertible notes	0	100,000	0	0	—
Proceeds from issuance of common stock	0	49	55,000	379,000	486
Settlement of contingent consideration	−5	−14	−50	0	0
Equity issuance costs	0	−309,000	0	−157,000	−190,000
Debt issuance costs	−122,000	−6	0	−174,000	−200,000
Net cash (used in) provided by financing activities	−11	1	−20	−40	486
Effect of exchange rates on cash, cash equivalents and restricted cash	259,000	−110,000	118,000	−2	−567,000
Net decrease in cash, cash equivalents and restricted cash	−17	−26	−30	−112	−60
Cash paid for interest	9	6	4	2	2
Issuance of common stock, net of issuance costs - Settlement Agreement (as defined below)	0	27	0	0	—

Filings

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