Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 157

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 157
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 balance that resulted in a decrease in interest income. The increase is partially offset by interest income associated with our employee retention tax credit and the paydown on our 2018 Line of Credit during the nine months ended September 30, 2024. Refer to Note 6—Debt and Financing Arrangements to our consolidated financial statements for additional information regarding the 2024 Convertible Senior Notes.

Foreign Currency (Loss) Gain

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Foreign currency (loss) gain $(1,812)$4,843 $(6,655)n/a$6,263 $4,312 $1,951 45 %% of Revenue(3)%7 %4 %2 %

Foreign currency (loss) gain was a loss of $1.8 million during the three months ended September 30, 2025 compared to a gain of $4.8 million during the three months ended September 30, 2024, primarily due to the change in the value of the British pound relative to the U.S. dollar. 

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Foreign currency (loss) gain was a gain of $6.3 million during the nine months ended September 30, 2025 compared to a gain of $4.3 million during the nine months ended September 30, 2024, primarily due to the change in the value of the British pound relative to the U.S. dollar.

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Liquidity and Capital Resources

The following table summarizes our cash and cash equivalents, working capital, accounts receivable and contract assets, net and unused available borrowings:

in thousandsSeptember 30, 2025December 31, 2024Cash and cash equivalents$43,961 $65,594 Working capital(1)17,007 29,028 Accounts receivable and contract assets, net85,496 103,252 Unused available borrowings(2)12,391 60,000 

(1)We define working capital as current assets less current liabilities. See our consolidated financial statements for further details regarding our current assets and current liabilities.

(2)As part of our amended and restated Loan and Security Agreement, we are required to maintain a minimum unrestricted cash of $25.0 million in demand deposit accounts.

Our cash and cash equivalents are available for working capital purposes. We do not enter into investments for trading purposes,