Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 267

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 267
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 or Divestiture

Loss (gain) on disposal or divestiture consists of the gain recorded in connection with the decommission of the Dosh app, a consumer facing cashback mobile application operated by Dosh Holdings LLC on February 28, 2025. In connection with the decommission, we recorded a loss (gain) on disposal or divestiture due to the derecognition of the wallet liability associated with the Dosh app.

Depreciation and Amortization Expense

Depreciation and amortization expense includes depreciation of property and equipment over the estimated useful life of the applicable asset as well as amortization of acquired intangible assets, deferred patent costs and capitalized internal-use software development costs.

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Interest Expense, Net

Interest expense, net consists of interest incurred on our debt facilities, as well as related discount amortization and financing costs, partially offset by interest income on our cash balances.

Foreign Currency Gain (Loss)

Foreign currency gain (loss) consists primarily of gains and losses on foreign currency transactions.

Results of Operations

The following table presents our condensed consolidated statements of operations:

 Three Months EndedMarch 31,in thousands20252024Revenue$61,898 $67,608 Costs and expenses:Partner Share and other third-party costs29,450 30,543 Delivery costs7,288 6,173 Sales and marketing expense12,754 14,118 Research and development expense11,706 13,048 General and administrative expense13,778 14,485 Change in contingent consideration60 5,817 Loss (gain) on disposal or divestiture(5,350)— Depreciation and amortization expense6,291 6,250 Total costs and expenses75,977 90,434 Operating Loss(14,079)(22,826)Other income (expense):Interest expense, net(1,830)(819)Foreign currency gain (loss)2,627 (630)Total other income (expense)797 (1,449)Loss before income taxes(13,282)(24,275)Net Loss$(13,282)$(24,275)Net Loss per share, basic and diluted$(0.26)$(0.56)Weighted-average common shares outstanding, basic and diluted51,863 43,248 

Comparison of Three Months Ended March 31, 2025 and 2024 

Revenue

 Three Months Ended March 31,Changein thousands202520