Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 152

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 152
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 30, 2024. Research and development expense excluding stock-based compensation expense and reduction in force decreased by $4.8 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to a $2.9 million decrease in staff expense, a $1.8 million decrease in IT and desktop license expenses and a $0.2 million decrease in travel expenses, partially offset by a $0.1 million increase in professional fees. The decrease in staff expense includes a $0.9 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

General and Administrative Expense

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%General and administrative expense excluding stock-based compensation expense and reduction in force$8,007 $10,230 $(2,223)(22)%$28,349 $33,228 $(4,879)(15)%Plus:Stock-based compensation expense2,847 1,846 1,001 54 8,952 9,484 (532)(6)%Reduction in force— — — n/a236 — 236 n/aTotal general and administrative expense$10,854 $12,076 $(1,222)(10)%$37,537 $42,712 $(5,175)(12)%% of Revenue21 %18 %21 %21 %

Total general and administrative expense decreased by $1.2 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024. General and administrative expense excluding stock-based compensation expense decreased by $2.2 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to a $1.1 million decrease in staff expense, a $0.3 million decrease in facility expense, a $0.3 million decrease in IT expenses, a $0.3 million decrease in bad debt expense, and a $0.2 million decrease in travel expenses. The decrease in staff expense includes a $0.3 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

Total general and administrative expense decreased by $5.2 million during the nine months ended September 30