Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 282

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 282
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Revenue$5,208 $5,634 $10,671 $11,009 Plus:Consumer Incentives— — — — Billings$5,208 $5,634 $10,671 $11,009 

30

Adjusted Contribution

The following table presents a reconciliation of Adjusted Contribution to gross profit, the most directly comparable GAAP measure, for each of the periods indicated:

 Three Months EndedJune 30,Six Months EndedJune 30,in thousands2025202420252024Revenue$63,249 $69,636 $125,147 $137,244 Minus:Partner Share and other third-party costs27,103 33,258 56,553 63,801 Delivery costs(1)6,883 7,661 14,171 13,834 Gross Profit29,263 28,717 54,423 59,609 Plus:Delivery costs(1)6,883 7,661 14,171 13,834 Adjusted Contribution$36,146 $36,378 $68,594 $73,443 

(1)Stock-based compensation expense recognized in consolidated delivery costs totaled $0.5 million and $0.7 million during the three months ended June 30, 2025 and 2024, respectively. Stock-based compensation expense recognized in consolidated delivery costs totaled $1.0 million and $1.4 million during the six months ended June 30, 2025 and 2024, respectively.

Adjusted EBITDA

The following table presents a reconciliation of Adjusted EBITDA to Net Loss, the most directly comparable GAAP measure: Three Months EndedJune 30,Six Months EndedJune 30,in thousands2025202420252024Net Loss$(9,283)$(4,257)$(22,565)$(28,532)Plus:Interest expense, net1,943 1,561 3,773 2,380 Depreciation and amortization6,275 6,529 12,566 12,779 Stock-based compensation expense7,501 12,644 16,195 23,629 Foreign currency (gain) loss(5,449)(99)(8,076)531 Gain on debt extinguishment— (13,017)— (13,017)Acquisition, integration and divestiture costs