Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 153

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 153
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 levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels, which is determined by the lowest level input that is significant to the fair value measurement in its entirety. During the years ended December 31, 2024, 2023 and 2022, we recognized a goodwill impairment of $117.8 million, $70.5 million and $396.2 million, respectfully. The fair value of our reporting units was classified in Level 3 of the fair value hierarchy due to the significance of unobservable inputs developed using company-specific information. Refer to Note 5— Goodwill and Acquired Intangibles for further details. These levels are: • Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and • Level 3 - unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability at fair value. 99

Included in the fair value table are cash equivalents and contingent consideration. Cash equivalents are comprised of money market funds and U.S. treasury bills stated at amortized cost, which approximates fair value at the balance sheet dates, due to the short period of time to maturity. The fair values of cash equivalents are as follows (in thousands): December 31, 2024 Level 1 Level 2 Level 3 Total Assets: Cash equivalents Money market funds $ 32,332 $ — $ — $ 32,332 US Treasury Bills 13,450 — — 13,450 Total cash equivalents at fair value $ 45,782 $ — $ — $ 45,782 The contingent consideration for the acquisition of Bridg is composed of the payments per the Settlement Agreement. The fair values of contingent consideration in connection with the Bridg acquisition are as follows (in thousands): December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Current contingent consideration $ — $ — $ 39,398 $ 39,398 Long-term contingent consideration — — 4,162 4,162 Total liabilities $ — $ — $ 43,560 $ 43,560 The following table shows a reconciliation of the beginning and ending fair value measurements of our contingent consideration,