Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 201

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 201
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 in the U.S.

Cardlytics Adjusted Contribution per User ("ACPU")

We define ACPU as the Cardlytics platform Adjusted Contribution generated in the applicable period, divided by Cardlytics average MQUs in the applicable period. We believe that Adjusted Contribution is the most relevant metric as it reflects the value Cardlytics keeps after subtracting out rewards, Partner Share and other third-party costs. We believe that ACPU measures the Cardlytics platform's efficiency in converting marketer budgets into the value generated by customer engagement.

 Three Months Ended September 30,ChangeNine Months Ended September 30,Change 20252024$%20252024$%Cardlytics ACPU$0.11 $0.16 $(0.05)(31)$0.37 $0.49 $(0.12)(32)

During the three months ended September 30, 2025, Cardlytics ACPU decreased by $0.05 compared to the three months ended September 30, 2024 as a result of lower billings and the ramp of our newest FI Partner. During the nine months ended September 30, 2025, Cardlytics ACPU decreased by $0.12 compared to the nine months ended September 30, 2024 as a result of lower billings and the ramp of our newest FI Partner.

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Key Financial Metrics (Including Non-GAAP Metrics)

 Three Months EndedSeptember 30,Nine Months EndedSeptember 30,in thousands2025202420252024Revenue$52,031 $67,057 $177,178 $204,301 Consumer Incentives$37,162 $44,901 $113,644 $123,260 Billings$89,193 $111,958 $290,822 $327,561 Gross Profit$24,300 $28,552 $78,723 $88,161 Adjusted Contribution$30,030 $36,382 $98,624 $109,825 Net Loss$(72,673)$(145,182)$(95,238)$(173,715)Adjusted EBITDA$3,204 $(1,816)$1,523 $(3,875)Adjusted Net Loss$(3,821)$(7,480)$(21,880)$(19,128)Net cash provided by (used in) operating activities$1,761 $1,