Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 181

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 181
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.We are not presently a party to any other legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition or cash flows. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

10.     EARNINGS PER SHARE

Diluted net loss per share is the same as basic net loss per share for the three months ended March 31, 2025 and 2024 because the effects of potentially dilutive items were anti-dilutive, given our net losses during these periods. The following securities as of March 31, 2025 and 2024 have been excluded from the calculation of diluted weighted-average common shares outstanding because the effect is anti-dilutive (in thousands): March 31, 20252024Common stock options50 59 2020 Convertible Senior Notes541 2,701 2024 Convertible Senior Notes9,573 — Unvested restricted stock units6,317 6,769 Common stock issuable pursuant to the 2018 ESPP326 171 

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11.     SEGMENTS

As of March 31, 2025, we have three operating segments: the Cardlytics platform in the U.S. and U.K. and the Bridg platform, as determined by the information that our Chief Executive Officer, who we consider our chief operating decision-maker ("CODM"), uses to make strategic goals and operating decisions. Our Cardlytics platform operating segments in the U.S. and U.K. represent our proprietary advertising channels and are aggregated into one reportable segment given their similar economic characteristics, nature of service, types of customers and method of distribution. Our CODM allocates resources to, and evaluates the performance of, our operating segments based on Adjusted Contribution. Our CODM uses Adjusted Contribution extensively to measure the efficiency of our advertising platform, make decisions to manage advertising campaigns and evaluate our operational performance. We view Adjusted Contribution as an important operating measure of our financial results. We believe that Adjusted Contribution provides useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management and Board of Directors. Our CODM does not review assets by operating segment for the purposes of evaluating performance or allocating resources.Revenue can be directly attributable to each segment. With the exception of deferred implementation costs, Partner Share and