Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 84

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 84
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 goodwill impairment. Loss on divestiture Year Ended December 31, Change in thousands 2024 2023 $ % Loss on divestiture $ — $ 6,550 $ (6,550) n/a % of Revenue — % 2 % On December 7, 2023 we sold and transferred substantially all of the assets of HSP EPI Acquisition, LLC ("Entertainment") for $6.0 million in cash, subject to a combined $1.1 million held in escrow for indemnities and sales and use taxes, as well as customary post-closing adjustment. The resulting loss on sale of $6.6 million is recorded within "Loss on divestiture" 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, Change in thousands 2024 2023 $ % Depreciation and amortization expense $ 25,689 $ 26,460 $ (771) (3) % % of Revenue 9 % 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, Change in thousands 2024 2023 $ % Interest expense $ (8,901) $ (6,189) $ (2,712) 44 % Interest income 3,350 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, Change in thousands 2024 2023 $ % Foreign currency (loss) gain $ (1,269) $ 3,304 $ (4,573) (138) % % of Revenue — % 1 % Foreign currency loss was $