Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 264

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 264
---
(1)7,288 6,173 Gross Profit25,160 30,892 Plus:Delivery costs(1)7,288 6,173 Adjusted Contribution$32,448 $37,065 

(1)Stock-based compensation expense recognized in consolidated delivery costs totaled $0.5 million and $0.6 million during the three months ended March 31, 2025 and 2024, respectively.

Adjusted EBITDA

The following table presents a reconciliation of Adjusted EBITDA to Net Loss, the most directly comparable GAAP measure: Three Months EndedMarch 31,in thousands20252024Net Loss$(13,282)$(24,275)Plus:Interest expense, net1,830 819 Depreciation and amortization6,291 6,250 Stock-based compensation expense8,694 10,985 Foreign currency (gain) loss(2,627)630 Loss (gain) on disposal or divestiture(5,350)— Change in contingent consideration60 5,817 Adjusted EBITDA$(4,384)$226 

30

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 periods indicated:

 Three Months EndedMarch 31,in thousands20252024Net Loss$(13,282)$(24,275)Plus:Stock-based compensation expense8,694 10,985 Foreign currency (gain) loss(2,627)630 Amortization of acquired intangibles1,455 2,789 Loss (gain) on disposal or divestiture(5,350)— Change in contingent consideration60 5,817 Adjusted Net Loss$(11,050)$(4,054)Weighted-average number of shares of common stock used in computing Adjusted Net Loss per share:Weighted-average common shares outstanding, diluted51,863 43,248 Adjusted Net Loss per share, diluted$(0.21)$(0.09)

Free Cash Flow

The following is a reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP measure, for each of the periods indicated:

Three Months EndedMarch 31,in thousands20252024Net cash used in operating activities$(6,706)$(17,617)Plus:Acquisition of property and equipment(119)(651)Capitalized software development costs(3