Company: CDLX
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001666071-25-000069
Chunk: 188

Company: Cardlytics, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 188
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June 30, 2023September 30, 2023December 31, 2023March 31, 2024June 30, 2024September 30, 2024December 31, 2024Cardlytics ACPU$0.14 $0.17 $0.20 $0.21 $0.17 $0.16 $0.16 $0.18 

Key Financial Metrics (Including Non-GAAP Metrics)

 Three Months Ended March 31,in thousands20252024Revenue$61,898 $67,608 Consumer Incentives$35,681 $37,608 Billings$97,579 $105,216 Gross Profit$25,160 $30,892 Adjusted Contribution$32,448 $37,065 Net Loss$(13,282)$(24,275)Adjusted EBITDA$(4,384)$226 Adjusted Net Loss$(11,050)$(4,054)Net cash used in operating activities$(6,706)$(17,617)Free Cash Flow$(10,809)$(22,364)

Definitions of Non-GAAP Measures

Billings

Billings represents the gross amount billed to customers and marketers for services in order to generate revenue. Cardlytics platform Billings is recognized gross of both Consumer Incentives and Partner Share. Cardlytics platform GAAP Revenue is recognized net of Consumer Incentives and gross of Partner Share. Bridg platform Billings is the same as Bridg platform GAAP Revenue. 

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We review Billings for internal management purposes. We believe Billings is an important indicator for the current health of the business because it directly represents our ability to bill customers for our services before any Consumer Incentives are paid. Nevertheless, our use of Billings has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. Other companies, including companies in our industry that have similar business arrangements, may address the impact of Consumer Incentives differently. You should consider Billings alongside our other GAAP financial results.

Adjusted Contribution

Adjusted 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