Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 129

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 129
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 and other third-party costs is also directly attributable to each segment. The accounting policies of each of our reportable segments are the same as those described in the summary of significant accounting policies. Refer to Note 4—Revenue for further information.The following tables provide information regarding the Cardlytics platform and the Bridg platform reportable segments (in thousands): Three Months EndedMarch 31, 20252024Cardlytics platformRevenue$56,435 $62,233 Minus: Adjusted Partner Share28,065 29,563 Minus: Other third-party costs(1)1,039 849 Adjusted Contribution$27,331 $31,821 Bridg platformRevenue$5,463 $5,375 Minus: Adjusted Partner Share— — Minus: Other third-party costs(1)346 131 Adjusted Contribution$5,117 $5,244 (1)Other third-party costs above primarily represents media and data costs that we incur to support the Cardlytics and Bridg platform.Adjusted ContributionAdjusted Contribution measures the degree by which Revenue generated from our marketers exceeds the cost to obtain the purchase data and the digital advertising space from our partners. Adjusted Contribution demonstrates how incremental Revenue on our platforms generates incremental amounts to support our sales and marketing, research and development, general and administrative and other investments. Adjusted Contribution is calculated by taking our total Revenue less our Partner Share and other third-party costs. Adjusted Contribution does not take into account all costs associated with generating Revenue from advertising campaigns, including sales and marketing expenses, research and development expenses, general and administrative expenses and other expenses, which we do not take into consideration when making decisions on how to manage our advertising campaigns. Management views Adjusted Contribution as the most relevant metric to measure the financial performance as it reflects the dollars we keep after all of our partners are paid. 

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The following table presents a reconciliation of loss before income taxes presented in accordance with GAAP to Adjusted Contribution (in thousands): Three Months EndedMarch 31, 20252024Adjusted Contribution$32,448 $37,065 Minus:Delivery costs7,288 6,173 Sales and marketing expense12,754 14,118 Research and development expense11,706 13,048 General and administrative expense13,778 14,485 Change in contingent consideration60 5,817 Loss (gain) on disposal or divestiture(5,350)— Deprec