Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 206

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 206
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0.7 million during the three months ended September 30, 2025 and 2024, respectively. Stock-based compensation expense recognized in consolidated delivery costs totaled $1.4 million and $2.0 million during the nine months ended September 30, 2025 and 2024, respectively.

Adjusted EBITDA

The following table presents a reconciliation of Adjusted EBITDA to Net Loss, the most directly comparable GAAP measure: Three Months EndedSeptember 30,Nine Months EndedSeptember 30,in thousands2025202420252024Net Loss$(72,673)$(145,182)$(95,238)$(173,715)Plus:Interest expense, net2,007 1,479 5,780 3,859 Depreciation and amortization6,473 6,970 19,039 19,749 Stock-based compensation expense6,422 8,065 22,617 31,694 Foreign currency loss (gain)1,812 (4,843)(6,263)(4,312)Gain on debt extinguishment— — — (13,017)Acquisition, integration and divestiture costs— — — 162 Loss (gain) on disposal or divestiture320 — (4,831)— Change in contingent consideration— 100 102 110 Impairment of goodwill and intangible assets58,843 131,595 58,843 131,595 Reduction in force— — 1,474 — Adjusted EBITDA$3,204 $(1,816)$1,523 $(3,875)

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Adjusted Net Loss

The following table presents a reconciliation of Adjusted Net Loss to Net Loss, the most directly comparable GAAP measure, for each of the periods indicated:

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30,in thousands2025202420252024Net Loss$(72,673)$(145,182)$(95,238)$(173,715)Plus:Stock-based compensation expense6,422 8,065 22,617 31,694 Foreign currency loss (gain)1,812 (4,843)(6,263)(4,312)Gain on debt extinguishment— — — (13,017)Acquisition, integration and divestiture costs— — — 162 Amortization of