Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 205

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 205
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 for certain marketers on its channels. We expect that these restrictions will impact our ability to grow marketing budgets for select advertisers, and in many cases will cause the marketing budgets for select advertisers to decrease significantly. We intend to work with our other FI partners to shift such marketers to other channels.

The following table presents a reconciliation of Billings to Revenue, the most directly comparable GAAP measure, for each of the periods indicated:

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,in thousands2025202420252024ConsolidatedRevenue$52,031 $67,057 $177,178 $204,301 Plus:Consumer Incentives37,162 44,901 113,644 123,260 Billings$89,193 $111,958 $290,822 $327,561 Cardlytics platformRevenue$46,962 $61,110 $161,438 $187,345 Plus:Consumer Incentives37,162 44,901 113,644 123,260 Billings$84,124 $106,011 $275,082 $310,605 Bridg platformRevenue$5,069 $5,947 $15,740 $16,956 Plus:Consumer Incentives— — — — Billings$5,069 $5,947 $15,740 $16,956 

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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 EndedSeptember 30,Nine Months EndedSeptember 30,in thousands2025202420252024Revenue$52,031 $67,057 $177,178 $204,301 Minus:Partner Share and other third-party costs22,001 30,675 78,554 94,476 Delivery costs(1)5,730 7,830 19,901 21,664 Gross Profit24,300 28,552 78,723 88,161 Plus:Delivery costs(1)5,730 7,830 19,901 21,664 Adjusted Contribution$30,030 $36,382 $98,624 $109,825 

(1)Stock-based compensation expense recognized in consolidated delivery costs totaled $0.4 million and $