Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 113

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 113
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 Finance lease liabilities, long-termOther long-term liabilities— — Total lease liabilities$6,781 $8,059 

14

6.     DEBT AND FINANCING ARRANGEMENTS

Our debt consists of the following (in thousands):March 31, 2025December 31, 20242024 Convertible Senior Notes, net168,009 167,729 2020 Convertible Senior Notes, net45,936 45,863 Total debt$213,945 $213,592 Accrued interest is included within accrued expenses in our consolidated balance sheet. We had accrued interest related to our 2024 Convertible Senior Notes and 2020 Convertible Senior Notes of $3.7 million and $1.9 million, respectively, as of March 31, 2025 and December 31, 2024. During the periods ended March 31, 2025 and March 31, 2024 interest expense, net reflected on the consolidated statements of operations consisted of interest expense of $2.4 million and $1.7 million and interest income of $0.5 million and $0.9 million, respectively.2024 Convertible Senior NotesOn April 1, 2024, we issued $172.5 million principal amount of our 4.25% Convertible Senior Notes due in 2029 (the "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 Convertible Senior Notes will mature on April 1, 2029, unless earlier converted or repurchased by us. Before January