Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 198

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 198
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,063)(34)Research and development expense2,774 3,950 (1,176)(30)General and administrative expense3,305 3,251 54 2 Total stock-based compensation expense$8,694 $10,985 $(2,291)(21)%% of Revenue14 %16 %

Stock-based compensation expense decreased by $2.3 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily driven by higher forfeitures related to executive departures during the three months ended March 31, 2025.

35

Change in contingent consideration

 Three Months Ended March 31,Changein thousands20252024$%Change in contingent consideration$60 $5,817 $(5,757)(99)% of Revenue— %9 %

During the three months ended March 31, 2025 we realized a expense of $0.1 million primarily related to interest accretion associated with the contingent consideration. During the three months ended March 31, 2024 we realized an expense of $5.8 million primarily due to the change in value of contingent consideration to the former Bridg shareholders. Refer to Note 8—Fair Value Measurements to our consolidated financial statements for additional information regarding the contingent consideration.

Loss (Gain) on Disposal or Divestiture

 Three Months Ended March 31,Changein thousands20252024$%Loss (gain) on disposal or divestiture$(5,350)$— $(5,350)n/a% of Revenue(9)%— %

During the three months ended March 31, 2025 we realized a gain of $5.4 million primarily related to the decommissioning of the Dosh app, a consumer facing cashback mobile application, operated by Dosh Holding LLC on February 28, 2025. Refer to Note 1—Overview of Business and Basis of Presentation for more information.

Depreciation and Amortization Expense

 Three Months Ended March 31,Changein thousands20252024$%Depreciation and amortization expense$6,291 $6,250 $41 1 %% of Revenue10 %9 %

Depreciation and amortization expense remained flat during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to amortization on capitalized assets