Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 269

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 269
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 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 $0.1 million decrease in travel expenses.

34

Research and Development Expense

 Three Months Ended March 31,Changein thousands20252024$%Research and development expense excluding stock-based compensation expense$8,932 $9,098 $(166)(2)%Plus:Stock-based compensation expense2,774 3,950 (1,176)(30)Total research and development expense$11,706 $13,048 $(1,342)(10)%% of Revenue19 %19 %

Total research and development expense decreased by $1.3 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024. Research and development expense excluding stock-based compensation decreased by $0.2 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to a $0.7 million decrease in IT and desktop license expenses and $0.1 million decrease in travel expenses, partially offset by $0.6 million increase in staff expenses.

General and Administrative Expense

 Three Months Ended March 31,Changein thousands20252024$%General and administrative expense excluding stock-based compensation expense$10,473 $11,234 $(761)(7)%Plus:Stock-based compensation expense3,305 3,251 54 2 Total general and administrative expense$13,778 $14,485 $(707)(5)%% of Revenue22