Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 153

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 153
---
:

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Delivery costs$464 $721 $(257)(36)%$1,001 $1,364 $(363)(27)%Sales and marketing expense1,072 2,903 (1,831)(63)3,150 6,044 (2,894)(48)Research and development expense3,165 4,633 (1,468)(32)5,939 8,583 (2,644)(31)General and administrative expense2,800 4,387 (1,587)(36)6,105 7,638 (1,533)n/aTotal stock-based compensation expense$7,501 $12,644 $(5,143)(41)%$16,195 $23,629 $(7,434)(31)%% of Revenue12 %18 %13 %17 %

Stock-based compensation expense decreased by $5.1 million during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily driven by higher forfeitures due to a reduction in headcount as a result of the reduction in force during the three months ended June 30, 2025.

Stock-based compensation expense decreased by $7.4 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, primarily driven by higher forfeitures due to a reduction in headcount as a result of the reduction in force during the six months ended June 30, 2025.

37

Reduction in Force

 Three Months Ended June 30,ChangeSix Months Ended June 30,Changein thousands20252024$%20252024$%Delivery costs$246 $— $246 n/a$246 $— $246 n/aSales and marketing expense631 — 631 n/a631 — 631 n/aResearch and development expense361 — 361 n/a361 — 361 n/aGeneral and administrative expense236 — 236 n/a236 — 236 n/aTotal reduction in force$1,474 $— $1,474 n/a$1,474 $— $1,474 n/a% of Revenue