Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 271

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 271
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 divestiture$(5,350)$— $(5,350)n/a% of Revenue(9)%— %

During the three months ended March 31, 2025 we realized a gain of $5.4 million primarily related to the decommissioning of the Dosh app, a consumer facing cashback mobile application, operated by Dosh Holding LLC on February 28, 2025. Refer to Note 1—Overview of Business and Basis of Presentation for more information.

Depreciation and Amortization Expense

 Three Months Ended March 31,Changein thousands20252024$%Depreciation and amortization expense$6,291 $6,250 $41 1 %% of Revenue10 %9 %

Depreciation and amortization expense remained flat during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to amortization on capitalized assets.

Interest Expense, Net

 Three Months Ended March 31,Changein thousands20252024$%Interest expense$(2,376)$(1,731)$(645)37 %Interest income546 816 (270)(33)Interest expense, net$(1,830)$(819)$(1,011)n/a% of Revenue(3)%(1)%

Interest expense, net increased by $1.0 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024 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 6—Debt and Financing Arrangements to our consolidated financial statements for additional information regarding the 2024 Convertible Senior Notes.

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Foreign Currency Gain (Loss) 

 Three Months Ended March 31,Changein thousands20252024$%Foreign currency gain (loss)$2,627 $(630)$3,257 (517)%% of Revenue4 %(1)%

Foreign currency gain (loss) was a gain of $2.6 million during the three months ended March 31, 2025 compared to a loss of $0.6 million during the three months ended March 31, 2024, primarily due to the change in the value of the British pound relative to the U.S. dollar.

Liquidity and Capital Resources

The following table