Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 101

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 101
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 of independent estimates and comparing those to the discount rate selected by management. • We evaluated management’s ability to accurately forecast future revenues and cash flows by comparing prior year forecasts to actual results in the respective years. We also compared current revenue and cash flow forecasts to (1) historical results, (2) internal communications to management and the Board of Directors, and (3) forecasted information included in Company press releases as well as in analyst and industry reports of the Company and companies in its peer group. /s/ DELOITTE & TOUCHE LLP Atlanta, Georgia March 12, 2025 We have served as the Company's auditor since 2012. 63

CARDLYTICS, INC. CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except par value amounts) 2024 2023 Assets Current assets: Cash and cash equivalents $ 65,594 $ 91,830 Accounts receivable and contract assets, net 103,252 120,622 Other receivables 3,801 5,379 Prepaid expenses and other assets 5,336 6,097 Total current assets 177,983 223,928 Long-term assets: Property and equipment, net 2,596 3,323 Right-of-use assets under operating leases, net 6,341 7,310 Intangible assets, net 11,371 35,003 Goodwill 159,429 277,202 Capitalized software development costs, net 33,341 24,643 Other long-term assets, net 1,650 2,735 Total assets $ 392,711 $ 574,144 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,689 $ 4,425 Accrued liabilities: Accrued compensation 5,494 11,662 Accrued expenses 7,175 9,587 Partner Share liability 32,479 48,867 Consumer Incentive liability 45,513 52,678 Deferred revenue 2,154 2,405 Short-term debt 45,863 — Current operating lease liabilities 2,025 2,127 Current contingent consideration 4,563 39,398 Total current liabilities 148,955 171,149 Long-term liabilities: Convertible senior notes, net 167,729 227,504 Line of credit — 30,000 Long-term deferred revenue — 67 Long-term operating lease liabilities 6,034 6,391 Long