Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 70

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 70
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 # % Cardlytics MAUs 166,943 162,148 4,795 3 162,148 154,550 7,598 5 Cardlytics MAUs increased by 4.8 million during 2024 compared to 2023, primarily driven by organic growth of the existing FI partners in the U.K. and U.S. and a new FI Partner in the U.K. Cardlytics MAUs increased by 7.6 million during 2023 compared to 2022, primarily driven by organic growth of the existing FI partners in the U.K. and U.S. and a new FI Partner in the U.K. Cardlytics Average Revenue per User ("ARPU") We define ARPU as the total Revenue generated in the applicable period calculated in accordance with generally accepted accounting principles in the United States ("GAAP"), divided by the average number of MAUs in the applicable period. We believe that ARPU is an indicator of the value of our relationships with our FI partners with respect to the Cardlytics platform. Year Ended December 31, Change Year Ended December 31, Change 2024 2023 $ % 2023 2022 $ % Cardlytics ARPU $ 1.67 $ 1.91 (0.24) (13) $ 1.91 $ 1.93 (0.02) (1) Cardlytics ARPU decreased by $0.24 during 2024 compared to 2023 as a result of a $21.3 million increase in Consumer Incentives due to changes to our targeting and ranking system that led to higher engagement. Cardlytics ARPU decreased by $0.02 during 2023 compared to 2022 as a result of a $0.3 million increase in Consumer Incentives due to changes to our targeting and ranking system that led to higher engagement. 41
Non-GAAP Metrics Year Ended December 31, in thousands 2024 2023 2022 Revenue $ 278,298 $ 309,204 $ 298,542 Billings $ 443,840 $ 453,426 $ 442,477 Gross Profit $ 120,894 $ 130,378 $ 112,632 Adjusted Contribution $ 150,537 $ 158,626 $ 143,035 Net Loss $ (189,304) $ (134,702) $ (465,264) Adjusted EBITDA $ 2,523