Company: CDLX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001666071-25-000034
Chunk: 84

Company: Cardlytics, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 84
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,683$23,779$21,357

Adjusted Contribution

The following table presents a reconciliation of Adjusted Contribution to gross profit, the most directly comparable GAAP measure, for each of the periods indicated (in thousands):

 Year Ended December 31, 202420232022Revenue$278,298 $309,204 $298,542 Minus:Partner Share and other third-party costs127,761 150,578 155,507 Delivery costs(1)29,643 28,248 30,403 Gross Profit120,894 130,378 112,632 Plus:Delivery costs(1)29,643 28,248 30,403 Adjusted Contribution$150,537 $158,626 $143,035 

(1)Stock-based compensation expense recognized in delivery costs totaled $2.7 million, $2.4 million and $2.7 million during 2024, 2023 and 2022, respectively.

44

Adjusted EBITDA

The following table presents a reconciliation of Adjusted EBITDA to Net Loss, the most directly comparable GAAP measure, for each of the periods indicated (in thousands):

 Year Ended December 31, 202420232022Net Loss$(189,304)$(134,702)$(465,264)Plus:Interest expense, net5,553 2,336 2,556 Depreciation and amortization25,689 26,460 37,544 Stock-based compensation expense40,367 40,980 44,686 Acquisition, integration and divestiture costs (benefits)161 (6,313)(2,874)Change in contingent consideration210 1,246 (128,174)Foreign currency loss (gain)1,269 (3,304)6,376 Impairment of goodwill and intangible assets131,595 70,518 453,288 Gain on debt extinguishment(13,017)— — Loss on divestiture— 6,550 — Restructuring and reduction of force— — 8,139 Income tax benefit— — (1,446)Adjusted EBITDA$2,523 $3,771 $(45,169)

Adjusted Net Loss

The following table presents a reconciliation of Adjusted Net Loss to Net Loss, the most directly comparable GAAP measure, for each of the