Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 216

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 216
---
 net$(1,943)$(1,561)$(382)n/a$(3,773)$(2,380)$(1,393)n/a% of Revenue(3)%(2)%(3)%(2)%

Interest expense, net increased by $0.4 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 primarily due to a decrease in average cash balances that resulted in a decrease in interest income. Interest expense, net increased by $1.4 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 primarily due to an increase in our interest expense related to our 2024 Convertible Senior Notes and a decrease in average cash balance that resulted in a decrease in interest income, partially offset by the repayment of our 2018 Line of Credit. Refer to Note 6—Debt and Financing Arrangements to our consolidated financial statements for additional information regarding the 2024 Convertible Senior Notes.

Foreign Currency Gain (Loss) 

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Foreign currency gain (loss)$5,449 $99 $5,350 5,404 %$8,076 $(531)$8,607 n/a% of Revenue9 %— %(1)%— %

Foreign currency gain (loss) was a gain of $5.4 million during the three months ended June 30, 2025 compared to a gain of $0.1 million during the three months ended June 30, 2024, primarily due to the change in the value of the British pound relative to the U.S. dollar. 

Foreign currency gain (loss) was a gain of $8.1 million during the six months ended June 30, 2025 compared to a loss of $0.5 million during the six months ended June 30, 2024, primarily due to the change in the value of the British pound relative to the U.S. dollar.

39

Liquidity and Capital Resources

The following table summarizes our cash and cash equivalents, working capital, accounts receivable and contract assets, net and unused available borrowings:

in thousandsJune 30, 2025December 31, 2024Cash and cash equivalents$46,745 $65,594 Working