Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 79

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 79
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48

Results of Operations The following table sets forth our consolidated statements of operations (in thousands): Year Ended December 31, 2024 2023 2022 Revenue $ 278,298 $ 309,204 $ 298,542 Costs and expenses: Partner Share and other third-party costs 127,761 150,578 155,507 Delivery costs 29,643 28,248 30,403 Sales and marketing expense 52,649 57,425 74,745 Research and development expense 49,607 51,352 54,435 General and administrative expense 56,482 58,810 81,446 Acquisition, integration and divestiture costs (benefits) 161 (6,313) (2,874) Change in contingent consideration 210 1,246 (128,174) Impairment of goodwill and intangible assets 131,595 70,518 453,288 Loss on divestiture — 6,550 — Depreciation and amortization expense 25,689 26,460 37,544 Total costs and expenses 473,797 444,874 756,320 Operating loss (195,499) (135,670) (457,778) Other income (expense): Interest expense, net (5,553) (2,336) (2,556) Foreign currency (loss) gain (1,269) 3,304 (6,376) Gain on debt extinguishment 13,017 — — Total other income (expense) 6,195 968 (8,932) Loss before income taxes (189,304) (134,702) (466,710) Income tax benefit — — 1,446 Net Loss (189,304) (134,702) (465,264) Net loss per share, basic and diluted $ (3.91) $ (3.69) $ (13.92) Weighted-average common shares outstanding, basic and diluted 48,361 36,488 33,419 Comparison of Years Ended December 31, 2024 and 2023 In this section, we discuss the results of our operations for the year ended December 31, 2024 compared to the year ended December 31, 2023. For a discussion of the year ended December 31, 2023 compared to the year ended December 31, 2022, please refer to Part II, Item 7, "Management