Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 290

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 290
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 reduction in force decreased by $1.8 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 primarily due to a $0.8 million decrease in staff expense, a $0.7 million decrease in marketing events and a $0.3 million decrease in travel expenses.

Research and Development Expense

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Research and development expense excluding stock-based compensation expense and reduction in force$7,769 $8,837 $(1,068)(12)%$16,701 $17,935 $(1,234)(7)%Plus:Stock-based compensation expense3,165 4,633 (1,468)(32)5,939 8,583 (2,644)(31)Reduction in force361 — 361 n/a361 — 361 n/aTotal research and development expense$11,295 $13,470 $(2,175)(16)%$23,001 $26,518 $(3,517)(13)%% of Revenue18 %19 %18 %19 %

Total research and development expense decreased by $2.2 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024. Research and development expense excluding stock-based compensation and reduction in force decreased by $1.1 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily due to a $0.7 million decrease in staff expenses and a $0.5 million decrease in IT and desktop license expenses, partially offset by a $0.2 million increase in professional fees.

Total research and development expense decreased by $3.5 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024. Research and development expense excluding stock-based compensation and reduction in force decreased by $1.2 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, primarily due to a $1.2 million decrease in IT and desktop license expenses and a $0.2 million decrease in travel expenses, partially offset by a $0.2 million increase in professional fees.