Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 128

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 128
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-specific information. Refer to Note 3 - Goodwill and Acquired Intangibles for further details.These levels are:•Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities.•Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.•Level 3 - unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability at fair value.

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Included in the fair value table are cash equivalents and contingent consideration. Cash equivalents are comprised of money market funds and U.S. treasury bills stated at amortized cost, which approximates fair value at the balance sheet dates, due to the short period of time to maturity. The fair value of cash equivalents are as follows (in thousands): September 30, 2025 Level 1Level 2Level 3TotalAssets:Cash equivalentsMoney market funds$28,706 $— $— $28,706 US Treasury Bills— — — — Total cash equivalents at fair value$28,706 $— $— $28,706  December 31, 2024 Level 1Level 2Level 3TotalAssets:Cash equivalentsMoney market funds$32,332 $— $— $32,332 US Treasury Bills13,450 — — 13,450 Total cash equivalents at fair value$45,782 $— $— $45,782 The following table shows a reconciliation of the beginning and ending fair value measurements of our contingent consideration, which we have valued using level 3 inputs:Nine Months EndedSeptember 30,20252024Beginning balance$— $43,560 Decrease due to earnout settlement— (45,114)Change in fair value of contingent consideration— 5,817 Reclassification due to remaining payments being fixed per Settlement Agreement— (4,263)Ending balance$— $— As part of our acquisition of Bridg and pursuant to the terms of the Merger Agreement, we agreed to make two earnout payments: the First Anniversary Payment Amount and the Second Anniversary Payment Amount, based on the First Anniversary ARR and the Second Anniversary ARR of Bridg (as defined in the Merger Agreement), respectively. As of December 31,