Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 138

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 138
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 of financial and operating metrics in order to measure our current performance and estimate our future performance. Our metrics may be calculated in a manner different than similar metrics used by other companies.

Key Performance Metrics

 Three Months EndedJune 30,Six Months EndedJune 30,in thousands except ACPU amounts2025202420252024Cardlytics MQUs224,464 188,816 219,677 190,011 Cardlytics ACPU$0.14 $0.16 $0.27 $0.33 

Cardlytics Monthly Qualified Users ("MQUs")

We define MQUs as targetable customers that have made a transaction using their account with an FI Partner or non-FI Partner in a given month, excluding pilot supply during the ramp up period, and whose transaction data was shared with Cardlytics. We then calculate a monthly average of these MQUs for the periods presented. We believe that the number of MQUs is an indicator of the Cardlytics platform's ability to drive engagement and is reflective of the consumer base and insights that we offer to marketers.

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024#%20252024#%Cardlytics MQUs224,464 188,816 35,64819219,677 190,011 29,666 14

During the three months ended June 30, 2025, Cardlytics MQUs increased by 35.6 million compared to the three months ended June 30, 2024 primarily driven by organic growth of the existing FI partners in the U.K. and U.S. and new FI partners in the U.S.

Cardlytics Adjusted Contribution per User ("ACPU")

We define ACPU as the Cardlytics platform Adjusted Contribution generated in the applicable period, divided by Cardlytics average MQUs in the applicable period. We believe that Adjusted Contribution is the most relevant metric as it reflects the value Cardlytics keeps after subtracting out rewards, Partner Share and other third-party costs. We believe that ACPU measures the Cardlytics platform's efficiency in converting marketer budgets into the value generated by customer engagement.

 Three Months Ended June 30,ChangeSix Months Ended June 30,Change 20252024$%20252024$%Cardlytics ACPU$0.14 $0.16 $(0.02)(13)$0.27 $0.33