Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 291

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 291
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 215,603 272,899 391,486 Operating Loss(68,854)(148,546)(95,721)(187,185)Other income (expense):Interest expense, net(2,007)(1,479)(5,780)(3,859)Foreign currency (loss) gain(1,812)4,843 6,263 4,312 Gain on debt extinguishment— — — 13,017 Total other (expense) income(3,819)3,364 483 13,470 Net Loss$(72,673)$(145,182)$(95,238)$(173,715)Net Loss per share, basic and diluted$(1.36)$(2.90)$(1.81)$(3.66)Weighted-average common shares outstanding, basic and diluted53,493 50,028 52,708 47,469 

Comparison of Three and Nine Months Ended September 30, 2025 and 2024 

Revenue

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Billings$89,193 $111,958 $(22,765)(20)%$290,822 $327,561 $(36,739)(11)%Consumer Incentives37,162 44,901 (7,739)(17)113,644 123,260 (9,616)(8)Revenue$52,031 $67,057 $(15,026)(22)%$177,178 $204,301 $(27,123)(13)%% of Billings58 %60 %61 %62 %

The $15.0 million decrease in Revenue during the three months ended September 30, 2025 compared to the three months ended September 30, 2024 was comprised of a $22.8 million decrease in Billings and a $7.7 million decrease in Consumer Incentives. Consumer Incentives decreased at a lower rate than Billings during the three months ended September 30, 2025 compared to the three months ended September 30, 2024 primarily due to strategic decisions to drive incremental performance for our advertisers as well as optimization of our network.

The $27.1 million decrease in Revenue during the nine months ended September 30, 2025 compared to the nine months ended September