Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 214

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 214
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 the three months ended September 30, 2025 compared to the three months ended September 30, 2024. Sales and marketing expenses excluding the impact of stock-based compensation expense decreased by $3.8 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024 primarily due to a $3.6 million decrease in staff expense and a $0.2 million decrease in marketing events. The decrease in staff expense includes a $1.1 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

Total sales and marketing expense decreased by $9.4 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Sales and marketing expenses excluding the impact of stock-based compensation expense and reduction in force decreased by $5.6 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 primarily due to a $4.4 million decrease in staff expense, a $0.8 million decrease in marketing events, a $0.3 million decrease in travel expenses and a $0.1 million decrease in administrative expense. The decrease in staff expense includes a $1.1 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

Research and Development Expense

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Research and development expense excluding stock-based compensation expense and reduction in force$6,224 $9,746 $(3,522)(36)%$22,925 $27,681 $(4,756)(17)%Plus:Stock-based compensation expense2,575 3,448 (873)(25)8,514 12,031 (3,517)(29)Reduction in force— — — n/a361 — 361 n/aTotal research and development expense$8,799 $13,194 $(4,395)(33)%$31,800 $39,712 $(7,912)(20)%% of Revenue17 %20 %18 %19 %

Total research and development expense decreased by $4.4 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024.