Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 158

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 158
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 segments in the U.S. and U.K. represent our proprietary advertising channels and are aggregated into one reportable segment given their similar economic characteristics, nature of service, types of customers and method of distribution. Our CODM allocates resources to, and evaluates the performance of, our operating segments based on Adjusted Contribution. Our CODM uses Adjusted Contribution extensively to measure the efficiency of our advertising platform, make decisions to manage advertising campaigns and evaluate our operational performance. We view Adjusted Contribution as an important operating measure of our financial results. We believe that Adjusted Contribution provides useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management and Board of Directors. Our CODM does not review assets by operating segment for the purposes of evaluating performance or allocating resources. Revenue can be directly attributable to each segment. With the exception of deferred implementation costs, Partner Share and other third-party costs is also directly attributable to each segment. The accounting policies of each of our reportable segments are the same as those described in the summary of significant accounting policies. Refer to Note 6—Revenue for further information. 102

The following table provides information regarding our reportable segments (in thousands): Year Ended December 31, 2024 2023 2022 Cardlytics platform Revenue $ 255,615 $ 285,425 $ 277,185 Minus: Adjusted Partner Share 122,370 144,502 147,872 Minus: Other third-party costs(1) 4,171 5,405 6,332 Adjusted Contribution $ 129,074 $ 135,518 $ 122,981 Bridg platform Revenue $ 22,683 $ 23,779 $ 21,357 Minus: Adjusted Partner Share — — — Minus: Other third-party costs(1) 1,220 671 1,303 Adjusted Contribution $ 21,463 $ 23,108 $ 20,054 (1) Other third-party costs above primarily represents media and data costs that we incur to support the Cardlytics and Bridg platform. Adjusted Contribution Adjusted Contribution measures the degree by which revenue generated from our marketers exceeds the cost to obtain the purchase data and the digital advertising space from our partners. Adjusted Contribution demonstrates how incremental Revenue on our platforms generates incremental amounts to support our sales and marketing, research and development, general and administrative and other investments. Adjusted Contribution is calculated by taking our total Revenue less our Partner Share