Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 152

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 152
---
 the three months ended March 31, 2025, which reflected our Net Loss of $13.3 million, including $8.7 million of non-cash charges, offset by a $2.2 million change in our net operating assets and liabilities. The non-cash charges primarily related to stock-based compensation expense, depreciation and amortization expense, amortization of right-of-use assets, amortization of financing costs charged to interest expense and credit losses expense. The change in our net operating assets and liabilities was primarily due to a $8.2 million decrease in our Consumer Incentive liability, a $3.9 million decrease in Partner Share liability and a $0.1 million increase in prepaid expenses and other assets, partially offset by a $1.9 million increase in other accrued expense, a $7.5 million decrease in accounts receivable and a $0.6 million increase in accounts payable. These fluctuations are primarily driven by the quarterly seasonality of our business.

39

Operating activities used $17.6 million of cash during the three months ended March 31, 2024, which reflected our Net Loss of $24.3 million, including $20.5 million of non-cash charges and a $5.8 million change in estimated contingent consideration, offset by a $19.6 million change in our net operating assets and liabilities. The non-cash charges primarily related to stock-based compensation expense, depreciation and amortization expense, amortization of right-of-use assets, amortization of financing costs charged to interest expense and credit losses expense. The change in our net operating assets and liabilities was primarily due to a $8.7 million decrease in our Consumer Incentive liability, a $13.3 million decrease in Partner Share liability, a $7.6 million decrease in other accrued expense and a $3.5 million increase in prepaid expenses and other assets, partially offset by a $13.3 million decrease in accounts receivable and a $0.1 million increase in accounts payable. These fluctuations are primarily driven by the quarterly seasonality of our business.

Investing Activities

Investing activities used $3.9 million and $4.7 million of cash during the three months ended March 31, 2025 and 2024, respectively. Our investing cash flows during the three months ended March 31, 2025 and 2024 primarily consisted of funds used for the purchases of technology hardware and capitalization of costs to develop internal-use software.

Financing Activities

Fin