Company: CDLX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001666071-25-000034
Chunk: 89

Company: Cardlytics, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 89
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,874)Change in contingent consideration210 1,246 (128,174)Impairment of goodwill and intangible assets131,595 70,518 453,288 Loss on divestiture— 6,550 — Depreciation and amortization expense25,689 26,460 37,544 Total costs and expenses473,797 444,874 756,320 Operating loss(195,499)(135,670)(457,778)Other income (expense):Interest expense, net(5,553)(2,336)(2,556)Foreign currency (loss) gain(1,269)3,304 (6,376)Gain on debt extinguishment13,017 — — Total other income (expense)6,195 968 (8,932)Loss before income taxes(189,304)(134,702)(466,710)Income tax benefit— — 1,446 Net Loss(189,304)(134,702)(465,264)Net loss per share, basic and diluted$(3.91)$(3.69)$(13.92)Weighted-average common shares outstanding, basic and diluted48,361 36,488 33,419 

Comparison of Years Ended December 31, 2024 and 2023

In this section, we discuss the results of our operations for the year ended December 31, 2024 compared to the year ended December 31, 2023. For a discussion of the year ended December 31, 2023 compared to the year ended December 31, 2022, please refer to Part II, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2023.

Revenue

 Year Ended December 31,Changein thousands20242023$  %   Billings$443,840 $453,426 $(9,586)(2)%Consumer Incentives165,542 144,222 21,320 15 Revenue$278,298 $309,204 $(30,906)(10)%% of Billings63 %68 %

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The $30.9 million decrease in Revenue during 2024 compared to 2023 was comprised of a $9.6 million decrease in Billings and a $21.3 million