Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 285

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 285
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 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 $0.7 million during the three months ended September 30, 2025 and 2024, respectively. Stock-based compensation expense recognized in consolidated delivery costs totaled $1.4 million and $2.0 million during the nine months ended September 30, 2025 and 2024, respectively.

Adjusted EBITDA

The following table presents