Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 135

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 135
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, and as such, the corresponding right of use asset and lease liability associated with the lease is reflected in our consolidated balance sheet as of December 31, 2023. As part of the amended lease agreement, we will receive a discount on our current space through the remainder of 2023, which will result in a reduction of minimum lease payments of $0.4 million and a reduction in expense of $0.2 million in 2023. Additional future reductions in minimum lease payments and lease expense in the new lease total $1.9 million and $0.7 million, respectively, through the term of our original lease agreement, which was set to terminate on April 2025. The amended lease agreement will terminate on January 1, 2032, and we have the option to renew for an additional five-year period. 8. PROPERTY AND EQUIPMENT Significant components of property and equipment are as follows (in thousands): December 31, 2024 2023 Computer equipment $ 9,753 $ 26,580 Leasehold improvements 2,034 8,514 Furniture and fixtures 464 1,269 Construction in progress — 27 Property and equipment, gross 12,251 36,390 Less accumulated depreciation and amortization (9,655) (33,067) Property and equipment, net $ 2,596 $ 3,323 Depreciation expense was $1.8 million, $3.7 million and $5.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. 9. DEBT AND FINANCING ARRANGEMENTS Our debt consists of the following (in thousands): December 31, 2024 2023 Line of Credit $ — $ 30,000 2024 Convertible Senior Notes, net 167,729 $ — 2020 Convertible Senior Notes, net 45,863 $ 227,504 Total debt $ 213,592 $ 257,504 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 $1.9 million and $0.9 million as of December 31, 2024 and December 31, 2023, respectively. For the years ended December 31, 2024, 2023 and 2022, interest expense, net reflected on the consolidated statements