Company: CDLX
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001666071-25-000034
Chunk: 94

Company: Cardlytics, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 94
---
" within the statement of operations. Refer to Note 4—Business Combinations to our consolidated financial statements for additional information regarding the loss on divestiture.

52

Depreciation and Amortization Expense

 Year Ended December 31,Changein thousands20242023$      %      Depreciation and amortization expense$25,689 $26,460 $(771)(3)%% of Revenue9 %9 %

Depreciation and amortization expense decreased by $0.8 million during 2024 compared to 2023, primarily due to a decrease in fixed assets.

Interest Expense, Net

 Year Ended December 31,Changein thousands20242023$      %      Interest expense$(8,901)$(6,189)$(2,712)44 %Interest income3,350 3,847 (497)(13)Interest expense, net$(5,553)$(2,336)$(3,217)138 %% of Revenue(2)%(1)%

Interest expense, net increased by $3.2 million during 2024 compared to 2023 primarily due to an increase in our interest expense related to our 2024 Convertible Senior Notes, partially offset by repayment of our 2018 Line of Credit. Refer to Note 9—Debt and Financing Arrangements to our consolidated financial statements for additional information regarding the 2024 Convertible Senior Notes.

Foreign Currency (Loss) Gain

 Year Ended December 31,Changein thousands20242023$      %      Foreign currency (loss) gain$(1,269)$3,304 $(4,573)(138)%% of Revenue— %1 %

Foreign currency loss was $1.3 million during 2024 compared to a gain of $3.3 million during 2023, primarily due to the change in the value of the British pound relative to the U.S. dollar.

Gain on Debt Extinguishment

 Year Ended December 31,Changein thousands20242023$      %      Gain on debt extinguishment$13,017 $— $13,017 n/a% of Revenue5 %— %

Gain on debt extinguishment was $13.0 million during 2024 compared to zero during 2023, due to the aggregated payment towards the 2020 Convertible Senior Notes in April 2024.