Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 216

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 216
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 expense excluding stock-based compensation expense decreased by $2.2 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to a $1.1 million decrease in staff expense, a $0.3 million decrease in facility expense, a $0.3 million decrease in IT expenses, a $0.3 million decrease in bad debt expense, and a $0.2 million decrease in travel expenses. The decrease in staff expense includes a $0.3 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

Total general and administrative expense decreased by $5.2 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. General and administrative expense excluding stock-based compensation expense and reduction in force decreased by $4.9 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to a $2.2 million decrease in bad debt expenses, a $1.1 million decrease in professional fees, $0.8 million decrease in IT expenses, a $0.5 million decrease in travel expenses, a $0.2 million decrease in insurance expense and a $0.1 million decrease in staff expense. The decrease in staff expense includes a $0.3 million benefit associated with the approval of the second quarter 2021 employee retention tax credit.

Stock-based Compensation Expense

The following table summarizes the allocation of stock-based compensation in the condensed consolidated statements of operations:

 Three Months Ended September 30,ChangeNine Months Ended September 30,Changein thousands20252024$%20252024$%Delivery costs$440 $675 $(235)(35)%$1,441 $2,039 $(598)(29)%Sales and marketing expense560 2,096 (1,536)(73)3,710 8,140 (4,430)(54)Research and development expense2,575 3,448 (873)(25)8,514 12,031 (3,517)(29)General and administrative expense2,847 1,846 1,001 54 8,952 9,484 (532)n/aTotal stock-based compensation expense$6,422 $8,065 $(1,643)(20)%$22,617 $