Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 156

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 156
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 of Business and Basis of Presentation for more information.

Depreciation and Amortization Expense

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Depreciation and amortization expense$6,473 $6,970 $(497)(7)%$19,039 $19,749 $(710)(4)%% of Revenue12 %10 %11 %10 %

Depreciation and amortization expense decreased by $0.5 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to a decrease in fixed assets.

Depreciation and amortization expense decreased by $0.7 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to a decrease in fixed assets.

Interest Expense, Net

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Interest expense$(2,915)$(2,356)$(559)24 %$(7,660)$(6,532)$(1,128)17 %Interest income908 877 31 4 1,880 2,673 (793)(30)Interest expense, net$(2,007)$(1,479)$(528)36 %$(5,780)$(3,859)$(1,921)50 %% of Revenue(4)%(2)%(3)%(2)%

Interest expense, net increased by $0.5 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024 primarily due to an increase in interest expense due to the draw down on our 2018 Line of Credit, partially offset by an increase in interest income associated with the approval of the second quarter 2021 employee retention tax credit. 

Interest expense, net increased by $1.9 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 primarily due to an increase in our interest expense related to our 2024 Convertible Senior Notes and the draw down on our 2018 Line of Credit during the nine months ended September 30, 2025 and a decrease in average cash