Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 130

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 130
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iation and amortization expense6,291 6,250 Total other expense(797)1,449 Loss before income taxes$(13,282)$(24,275)The following tables provide geographical information (in thousands): Three Months EndedMarch 31, 20252024Revenue:United States$56,389 $62,534 United Kingdom5,509 5,074 Total$61,898 $67,608 March 31, 2025December 31, 2024Property and equipment, net:United States$2,410 $2,530 United Kingdom56 66 Total$2,466 $2,596 Capital expenditures within the United States totaled $0.1 million and $0.7 million for the three months ended March 31, 2025 and 2024, respectively. Capital expenditures within the United Kingdom totaled less than $0.1 million for each period during the three months ended March 31, 2025 and 2024.Concentrations of RiskCash and Cash EquivalentsFinancial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. A significant portion of our cash and cash equivalents are held in fully FDIC-insured money market accounts, demand deposit accounts and U.S. Treasury Bills that distribute funds, and credit risk, over a vast number of financial institutions. Our remaining cash and cash equivalents are held with five financial institutions, which are of high credit quality.

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MarketersAs of December 31, 2024, we define a marketer as a customer who has a distinct contractual relationship with us, rather than aggregating by parent company.Our Revenue and accounts receivable are diversified among a large number of marketers segregated by both geography and industry. During the three months ended March 31, 2025 and 2024, our top five marketers accounted for 19% and 21% of our Revenue, respectively, with no marketer accounting for over 10%. As of March 31, 2025 and 2024, our top five marketers accounted for 17% and 21% of our accounts receivable, respectively, with no marketer accounting for over 10%.FI PartnersOur business is substantially dependent on a limited number of FI partners. We require participation from our FI partners in the Cardlytics platform and access to their purchase data in order to offer our solutions to marketers and their agencies. We must have FI partners