Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 288

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 288
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1.9 million decrease in Consumer Incentives. Consumer Incentives decreased at a lower rate than Billings during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 primarily due strategic decisions to drive incremental performance for our advertisers.

Costs and Expenses

Partner Share and Other Third-Party Costs

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Partner Share and other third-party costs $27,103 $33,258 $(6,155)(19)%$56,553 $63,801 $(7,248)(11)%% of Revenue43 %48 %45 %46 %

Partner Share and other third-party costs decreased by $6.2 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily driven by lower top line billings and changes in Partner mix.

Partner Share and other third-party costs decreased by $7.2 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, primarily driven by lower top line billings and changes in Partner mix.

Delivery Costs

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Delivery costs excluding stock-based compensation expense and reduction in force$6,173 $6,940 $(767)(11)%$12,924 $12,470 $454 4 %Plus:Stock-based compensation expense464 721 (257)(36)1,001 1,364 (363)(36)Reduction in force246 — 246 n/a246 — 246 n/aTotal delivery costs$6,883 $7,661 $(778)(10)%$14,171 $13,834 $337 2 %% of Revenue11 %11 %11 %10 %

Total delivery costs decreased by $0.8 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.  Delivery costs excluding stock-based compensation and reduction in force decreased by $0.8 million during the three months ended June 30, 2025 compared to the three months ended June 30