Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 195

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 195
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90,497 Minus: Other third-party costs(1)907 1,134 2,837 3,073 Adjusted Contribution$25,565 $30,817 $84,216 $93,773 Bridg platformRevenue$5,069 $5,947 $15,740 $16,958 Minus: Adjusted Partner Share— — — — Minus: Other third-party costs(1)604 382 1,332 906 Adjusted Contribution$4,465 $5,565 $14,408 $16,052 (1)Other third-party costs above primarily represents media and data costs that we incur to support the Cardlytics and Bridg platform.Adjusted ContributionAdjusted Contribution measures the degree by which Revenue generated from our marketers exceeds the cost to obtain the purchase data and the digital advertising space from our partners. Adjusted Contribution demonstrates how incremental Revenue on our platforms generates incremental amounts to support our sales and marketing, research and development, general and administrative and other investments. Adjusted Contribution is calculated by taking our total Revenue less our Partner Share and other third-party costs. Adjusted Contribution does not take into account all costs associated with generating Revenue from advertising campaigns, including sales and marketing expenses, research and development expenses, general and administrative expenses and other expenses, which we do not take into consideration when making decisions on how to manage our advertising campaigns. Management views Adjusted Contribution as the most relevant metric to measure the financial performance as it reflects the dollars we keep after all of our partners are paid. 

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The following table presents a reconciliation of loss before income taxes presented in accordance with GAAP to Adjusted Contribution (in thousands): Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Adjusted Contribution$30,030 $36,382 $98,624 $109,825 Minus:Delivery costs5,730 7,830 19,901 21,664 Sales and marketing expense7,865 13,163 31,954 41,306 Research and development expense8,799 13,194 31,800 39,712 General and administrative expense10,854 12,076 37,537 42,712 Acquisition, integration and divestiture costs— — — 162 Change in contingent consideration— 100 102 110 Impairment of goodwill and