Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 270

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 270
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 %21 %

Total general and administrative expense decreased by $0.7 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024. General and administrative expense excluding stock-based compensation decreased by $0.8 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to a $0.9 million decrease in bad debt expenses, $0.4 million decrease in IT expenses, and $0.2 million decreases in legal fees, partially offset by $0.7 million increase in staff expense.

Stock-based Compensation Expense

The following table summarizes the allocation of stock-based compensation in the condensed consolidated statements of operations:

 Three Months Ended March 31,Changein thousands20252024$%Delivery costs$537 $643 $(106)(16)%Sales and marketing expense2,078 3,141 (1,063)(34)Research and development expense2,774 3,950 (1,176)(30)General and administrative expense3,305 3,251 54 2 Total stock-based compensation expense$8,694 $10,985 $(2,291)(21)%% of Revenue14 %16 %

Stock-based compensation expense decreased by $2.3 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily driven by higher forfeitures related to executive departures during the three months ended March 31, 2025.

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Change in contingent consideration

 Three Months Ended March 31,Changein thousands20252024$%Change in contingent consideration$60 $5,817 $(5,757)(99)% of Revenue— %9 %

During the three months ended March 31, 2025 we realized a expense of $0.1 million primarily related to interest accretion associated with the contingent consideration. During the three months ended March 31, 2024 we realized an expense of $5.8 million primarily due to the change in value of contingent consideration to the former Bridg shareholders. Refer to Note 8—Fair Value Measurements to our consolidated financial statements for additional information regarding the contingent consideration.

Loss (Gain) on Disposal or Divestiture

 Three Months Ended March 31,Changein thousands20252024$%Loss (gain) on disposal or