Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 218

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 218
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$110 $(8)(7)% of Revenue— %— %(3)%— %

During the three months ended September 30, 2024 we realized an expense of $0.1 million primarily due to the change in value of contingent consideration to the former Bridg shareholders. Refer to Note 8—Fair Value Measurements to our consolidated financial statements for additional information regarding the contingent consideration.

During the nine months ended September 30, 2025 we realized an expense of $0.1 million primarily related to interest accretion associated with the contingent consideration. During the nine months ended September 30, 2024 we realized an expense of $0.1 million primarily due to the change in value of contingent consideration to the former Bridg shareholders. Refer to Note 8—Fair Value Measurements to our consolidated financial statements for additional information regarding the contingent consideration.

Impairment of goodwill and intangible assets

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Impairment of goodwill and intangible assets$58,843 $131,595 $(72,752)(55)$58,843 $131,595 $(72,752)(55)% of Revenue113 %196 %33 %64 %

During the three and nine months ended September 30, 2025, we recognized a $58.8 million impairment to goodwill and intangible assets, which consisted of a $49.1 million impairment to goodwill related to the U.S. Cardlytics Platform and a $9.7 million impairment to capitalized software development costs, net. During the three and nine months ended September 30, 2024, we recognized a $131.6 million impairment to goodwill and intangible assets, which consisted of a $117.8 million impairment to goodwill related to the Bridg platform and a $13.7 million impairment to acquired intangible assets. The impairment of goodwill and intangible assets resulted from a continued slowdown in the economy, decreased consumer spend, and a sustained decline in our stock price. Refer to Note 3 - Goodwill and Acquired Intangibles to our consolidated financial statements for additional information regarding the goodwill impairment.

41

Loss (Gain) on Disposal or Divestiture

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Loss (gain) on disposal or