Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 81

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 81
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4 compared to 2023, driven by a $2.3 million increase in data storage, partially offset by $0.5 million reduction in desktop software licenses, a $0.5 million reduction in data center expenses, and a $0.2 million reduction in staff expense. Sales and Marketing Expense Year Ended December 31, Change in thousands 2024 2023 $ % Sales and marketing expense excluding stock-based compensation expense $ 42,632 $ 44,801 $ (2,169) (5) % Plus: Stock-based compensation expense 10,017 12,624 (2,607) (21) Total sales and marketing expense $ 52,649 $ 57,425 $ (4,776) (8) % % of Revenue 19 % 19 % Total sales and marketing expenses decreased by $4.8 million during 2024 compared to 2023. Sales and marketing expenses excluding stock-based compensation decreased by $2.2 million during 2024 compared to 2023 primarily due to a $2.2 million decrease in staff expenses, mostly related to the divestiture of entertainment in December 2023, a $0.3 million decrease in training, dues and subscriptions expenses, and a $0.3 million decrease in travel and entertainment, partially offset by a $0.5 million increase in marketing events and a $0.1 million increase in software licenses. 50

Research and Development Expense Year Ended December 31, Change in thousands 2024 2023 $ % Research and development expense excluding stock-based compensation expense $ 34,650 $ 34,960 $ (310) (1) % Plus: Stock-based compensation expense 14,957 16,392 (1,435) (9) Total research and development expense $ 49,607 $ 51,352 $ (1,745) (3) % % of Revenue 18 % 17 % Total research and development expenses decreased $1.7 million in 2024 compared to 2023. Research and development expenses excluding stock-based compensation decreased by $0.3 million during 2024 compared to 2023, primarily due to a $0.8 million decrease in professional fees, a $0.3 million decrease in administrative expenses, and a $0.2 million decrease in staff expenses partially offset by a $1.0 million increase in data storage and data center expense. General and Administrative Expense Year Ended December 31, Change in thousands