Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 195

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 195
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 of gains and losses on foreign currency transactions.

Results of Operations

The following table presents our condensed consolidated statements of operations:

 Three Months EndedMarch 31,in thousands20252024Revenue$61,898 $67,608 Costs and expenses:Partner Share and other third-party costs29,450 30,543 Delivery costs7,288 6,173 Sales and marketing expense12,754 14,118 Research and development expense11,706 13,048 General and administrative expense13,778 14,485 Change in contingent consideration60 5,817 Loss (gain) on disposal or divestiture(5,350)— Depreciation and amortization expense6,291 6,250 Total costs and expenses75,977 90,434 Operating Loss(14,079)(22,826)Other income (expense):Interest expense, net(1,830)(819)Foreign currency gain (loss)2,627 (630)Total other income (expense)797 (1,449)Loss before income taxes(13,282)(24,275)Net Loss$(13,282)$(24,275)Net Loss per share, basic and diluted$(0.26)$(0.56)Weighted-average common shares outstanding, basic and diluted51,863 43,248 

Comparison of Three Months Ended March 31, 2025 and 2024 

Revenue

 Three Months Ended March 31,Changein thousands20252024$%Billings$97,579 $105,216 $(7,637)(7)%Consumer Incentives35,681 37,608 (1,927)(5)Revenue$61,898 $67,608 $(5,710)(8)%% of Billings63 %64 %

The $5.7 million decrease in Revenue during the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was comprised of a $7.6 million decrease in Billings and a $1.9 million decrease in Consumer Incentives. Consumer Incentives decreased at a lower rate than Billings during the three months ended March 31, 2025 compared to the three months ended March 31, 2024 primarily due to advertiser mix and lower billings than previous quarter.

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Costs and Expenses

Partner Share and Other Third-Party Costs

 Three Months