Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 133

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 133
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$61,440 $157,653 $188,060 United Kingdom6,853 5,617 19,524 16,241 Total$52,031 $67,057 $177,178 $204,301 September 30, 2025December 31, 2024Property and equipment, net:United States$2,139 $2,530 United Kingdom67 66 Total$2,206 $2,596 Capital expenditures within the United States totaled $0.5 million and $0.8 million for the nine months ended September 30, 2025 and 2024, respectively. Capital expenditures within the United Kingdom totaled less than $0.1 million for each period during the nine months ended September 30, 2025 and 2024.Concentrations of RiskCash and Cash EquivalentsFinancial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. A significant portion of our cash and cash equivalents are held in fully FDIC-insured money market accounts and demand deposit accounts that distribute funds, and credit risk, over a vast number of financial institutions. Our remaining cash and cash equivalents are held with five financial institutions, which are of high credit quality.

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MarketersAs of December 31, 2024, we define a marketer as a customer who has a distinct contractual relationship with us, rather than aggregating by parent company.Our Revenue and accounts receivable are diversified among a large number of marketers segregated by both geography and industry. During the nine months ended September 30, 2025 and 2024, our top five marketers accounted for 20% and 12% of our Revenue, respectively, with no marketer accounting for over 10%. As of September 30, 2025 and 2024, our top five marketers accounted for 30% and 20% of our accounts receivable, respectively, with no marketer accounting for over 10%.FI PartnersOur business is substantially dependent on a limited number of FI partners. We require participation from our FI partners in the Cardlytics platform and access to their purchase data in order to offer our solutions to marketers and their agencies. We must have FI partners with a sufficient number of customers and levels of customer engagement to ensure that we have robust purchase data and marketing space to support a broad array of incentive programs for marketers. Our agreements with a substantial majority of our FI partners have terms of