Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 134

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 134
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 data centers and the closure of our office in India. Refer to Note 15—Segments for more information on our operating segments. During the year ended December 31, 2024 and 2023, respectively, we made cash payments of $2.3 million and $4.5 million for operating leases which are included in cash flows used in operating activities in our consolidated statement of cash flows. 87

Lease assets and liabilities, net, are as follows (in thousands): December 31, Lease Type Consolidated Balance Sheets Location 2024 2023 Operating lease assets Right-of-use assets under operating leases, net $ 6,341 $ 7,310 Finance lease assets Property and equipment, net — 14 Total lease assets 6,341 7,324 Operating lease liabilities, current Current operating lease liabilities 2,025 2,127 Operating lease liabilities, long-term Long-term operating lease liabilities 6,034 6,391 Finance lease liabilities, current Accrued expenses — 10 Total lease liabilities $ 8,059 $ 8,528 The following table summarizes activity related to our leases (in thousands): December 31, 2024 2023 Operating lease expense $ 2,822 $ 3,295 Variable lease expense 693 1,191 Short-term lease expense 1,058 600 The following table presents our weighted average borrowing rates and weighted average lease terms: December 31, 2024 2023 Operating leases: Weighted average borrowing rate 7.3 % 6.8 % Weighted average remaining lease term (years) 3.81 4.06 The following table summarizes future maturities of lease liabilities as of December 31, 2024 (in thousands): Fiscal Year Operating Leases 2025 $ 2,525 2026 1,640 2027 1,503 2028 1,191 Thereafter 2,906 Total lease payments 9,765 Imputed interest 1,706 Total lease liabilities $ 8,059 88

Amended Lease Agreement On April 3, 2023, we amended the lease terms of our office located in Atlanta, Georgia. The amended lease agreement provides for our relocation to a different unit in the same building, reducing the square footage of our office from approximately 77,000 to 17,000. The transfer of control and right of use ("ROU") for the lease commenced on December 14, 2023