Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 143

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 143
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 Months Ended March 31,Changein thousands20252024$%Partner Share and other third-party costs $29,450 $30,543 $(1,093)(4)%% of Revenue48 %45 %

Partner Share and other third-party costs decreased by $1.1 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily driven by lower top line billings and changes in Partner mix.

Delivery Costs

 Three Months Ended March 31,Changein thousands20252024$%Delivery costs excluding stock-based compensation expense$6,751 $5,530 $1,221 22 %Plus:Stock-based compensation expense537 643 (106)(16)Total delivery costs$7,288 $6,173 $1,115 18 %% of Revenue12 %9 %

Total delivery costs increased by $1.1 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024.  Delivery costs excluding stock-based compensation increased by $1.2 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, driven by $1.5 million increase in data storage expense, partially offset by a $0.2 million decrease in desktop software and data center expense and a $0.1 million decrease in staff expense.

Sales and Marketing Expense

 Three Months Ended March 31,Changein thousands20252024$%Sales and marketing expense excluding stock-based compensation expense$10,676 $10,977 $(301)(3)%Plus:Stock-based compensation expense2,078 3,141 (1,063)(34)Total sales and marketing expense$12,754 $14,118 $(1,364)(10)%% of Revenue21 %21 %

Total sales and marketing expense decreased by $1.4 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024. Sales and marketing expenses excluding the impact of stock-based compensation decreased by $0.3 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024 primarily due to a $0.1 decrease in staff expense, $0.1 million decrease in training and subscription expenses, and $