Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 183

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 183
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2020 Convertible Senior Notes, we have recorded a gain of $13.0 million, which is recorded as a Gain on debt extinguishment on the condensed consolidated statement of operations. In September 2025, we repaid in full at par the remaining $46.1 million aggregate principal amount of the 2020 Convertible Senior Notes, and as a result, the 2020 Convertible Senior Notes were no longer outstanding as of September 30, 2025.The 2020 Convertible Senior Notes were general senior, unsecured obligations with a maturity date of September 15, 2025, unless earlier converted, redeemed or repurchased. The 2020 Convertible Senior Notes bore interest at a rate of 1.00% per year, payable semiannually in arrears on March 15 and September 15 of each year, which began on March 15, 2021. Following June 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2020 Convertible Senior Notes could have converted all or any portion of their 2020 Convertible Senior Notes at any time.

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The net carrying amount of the liability component of the 2020 Convertible Senior Notes is as follows (in thousands):September 30, 2025December 31, 2024Principal$— $46,070 Minus:Unamortized issuance costs— (207)Net carrying amount of the liability component$— $45,863 Interest expense recognized related to the 2020 Convertible Senior Notes is as follows (dollars in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Contractual interest expense (due in cash)$96 $115 $326 $805 Amortization of debt issuance costs61 73 207 511 Total interest expense related to the 2020 Convertible Senior Notes$157 $188 $533 $1,316 Effective interest rate1.64 %1.64 %1.64 %1.64 %2018 Loan FacilityIn April 2022, we amended our loan facility with Pacific Western Bank (the "2018 Loan Facility") to increase the capacity of our asset-backed revolving line of credit (the "2018 Line of Credit") from $50.0 million to $60.0 million with an option to increase to