Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 199

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 199
---
PU measures the Cardlytics platform's efficiency in converting marketer budgets into the value generated by customer engagement.

 Three Months Ended June 30,ChangeSix Months Ended June 30,Change 20252024$%20252024$%Cardlytics ACPU$0.14 $0.16 $(0.02)(13)$0.27 $0.33 $(0.06)(22)

Key Financial Metrics (Including Non-GAAP Metrics)

 Three Months EndedJune 30,Six Months EndedJune 30,in thousands2025202420252024Revenue$63,249 $69,636 $125,147 $137,244 Consumer Incentives$40,799 $40,753 $76,480 $78,362 Billings$104,048 $110,389 $201,627 $215,606 Gross Profit$29,263 $28,717 $54,423 $59,609 Adjusted Contribution$36,146 $36,378 $68,594 $73,443 Net Loss$(9,283)$(4,257)$(22,565)$(28,532)Adjusted EBITDA$2,703 $(2,285)$(1,681)$(2,059)Adjusted Net Loss$(7,008)$(7,590)$(18,059)$(11,644)Net cash provided by (used in) operating activities$1,227 $4,430 $(5,481)$(13,188)Free Cash Flow$(3,431)$(428)$(14,242)$(22,793)

28

Definitions of Non-GAAP Measures

Billings

Billings represents the gross amount billed to customers and marketers for services in order to generate revenue. Cardlytics platform Billings is recognized gross of both Consumer Incentives and Partner Share. Cardlytics platform GAAP Revenue is recognized net of Consumer Incentives and gross of Partner Share. Bridg platform Billings is the same as Bridg platform GAAP Revenue. 

We review Billings for internal management purposes. We believe Billings is an important indicator for the current health of the business because it directly represents our ability to bill customers for our services before any Consumer Incentives are paid. Nevertheless, our use of Billings has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis