Cardlytics, Inc. SEC 10-Q Report

Cardlytics, Inc., a leading digital advertising platform, has released its Form 10-Q report for the first quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, highlighting key metrics and business activities for the period ended March 31, 2025.

Financial Highlights

• Revenue: $61.9 million, reflecting a decrease from $67.6 million in the prior year period, primarily due to a decline in served-based pricing revenue.
• Gross Profit: $25.2 million, down from $30.9 million, indicating a reduction in profitability margins.
• Operating Loss: $14.1 million, an improvement from a loss of $22.8 million, driven by cost management and a gain on disposal or divestiture.
• Net Loss: $13.3 million, compared to a net loss of $24.3 million in the previous year, showing a significant reduction in losses.
• Net Loss per share, basic and diluted: $0.26, improved from $0.56, reflecting better cost control and operational efficiencies.

Business Highlights

• Revenue Segments: The Cardlytics platform generated $56.4 million in revenue, while the Bridg platform contributed $5.5 million for the three months ended March 31, 2025. The Cardlytics platform revenue is derived from served-based and engagement-based pricing models, with served-based pricing contributing $24.9 million and engagement-based pricing contributing $30.7 million.
• Geographical Performance: The United States accounted for $56.4 million of the total revenue, while the United Kingdom contributed $5.5 million for the three months ended March 31, 2025. This indicates a strong performance in the U.S. market, with the U.K. also showing positive contributions.
• Sales Units: Cardlytics Monthly Qualified Users (MQUs) increased to 214.9 million, up from 191.2 million in the same period last year, reflecting a 12% growth. This increase was driven by organic growth from existing FI partners in the U.K. and U.S., as well as the addition of a new FI partner in the U.S.
• Future Outlook: The company plans to implement cost-saving measures, expecting to incur one-time costs of approximately $1.3 million. Additionally, the company is susceptible to future impairment risks due to potential adverse market conditions, such as tariffs and economic uncertainties.

SEC Filing: Cardlytics, Inc. [ CDLX ] - 10-Q - May. 07, 2025