Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 180

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 180
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30, 2025December 31, 2024Line of Credit$46,070 $— 2024 Convertible Senior Notes, net168,570 167,729 2020 Convertible Senior Notes, net— 45,863 Total debt$214,640 $213,592 Accrued interest is included within accrued expenses in our consolidated balance sheet. As of September 30, 2025, we had accrued interest related to our 2024 Convertible Senior Notes (as defined below) of $3.7 million. As of December 31, 2024, we had accrued interest related to our 2024 Convertible Senior Notes and 2020 Convertible Senior Notes of $1.9 million. During the three months ended September 30, 2025 and September 30, 2024, interest expense, net is reflected on the consolidated statements of operations consisted of interest expense of $2.9 million and $2.4 million and interest income of $0.9 million and $0.9 million, respectively. During the nine months ended September 30, 2025 and September 30, 2024, interest expense, net is reflected on the consolidated statements of operations consisted of interest expense of $7.7 million and $6.5 million, respectively, and interest income of $1.9 million and $2.7 million, respectively.2024 Convertible Senior NotesOn April 1, 2024, we issued $172.5 million principal amount of our 2024 Convertible Senior Notes in a private offering, including the exercise in full of the initial purchasers' option to purchase up to an additional $22.5 million principal amount of the 2024 Convertible Senior Notes. The net proceeds from this offering were $166.8 million, after deducting the initial purchasers' discounts, commissions and the offering expense payable by us. The 2024 Convertible Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of April 1, 2024 (the "2024 Indenture"), between us and U.S. Bank Trust Company, National Association, as Trustee.The 2024 Convertible Senior Notes will accrue interest at a rate of 4.25% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2024. The 2024