Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 287

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 287
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,882 Operating Loss(12,789)(15,812)(26,868)(38,638)Other income (expense):Interest expense, net(1,943)(1,561)(3,773)(2,380)Foreign currency gain (loss)5,449 99 8,076 (531)Gain on debt extinguishment— 13,017 — 13,017 Total other income3,506 11,555 4,303 10,106 Net Loss$(9,283)$(4,257)$(22,565)$(28,532)Net Loss per share, basic and diluted$(0.18)$(0.09)$(0.43)$(0.62)Weighted-average common shares outstanding, basic and diluted52,750 49,056 52,309 46,168 

34

Comparison of Three and Six Months Ended June 30, 2025 and 2024 

Revenue

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Billings$104,048 $110,389 $(6,341)(6)%$201,627 $215,606 $(13,979)(6)%Consumer Incentives40,799 40,753 46 — 76,480 78,362 (1,882)(2)Revenue$63,249 $69,636 $(6,387)(9)%$125,147 $137,244 $(12,097)(9)%% of Billings61 %63 %62 %64 %

The $6.4 million decrease in Revenue during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 was comprised of a $6.3 million decrease in Billings and a less than $0.1 million increase in Consumer Incentives. Consumer Incentives increased as opposed to decrease in Billings during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 primarily due strategic decisions to drive incremental performance for our advertisers.

The $12.1 million decrease in Revenue during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was comprised of a $14.0 million decrease in Billings and a $