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Cardlytics Inc. (CDLX) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $278.3 million from $309.2 million in the previous year, attributed to a decrease in billings and an increase in consumer incentives.
Partner Share and other third-party costs decreased by 15% to $127.8 million, reflecting changes in partner share mix and renegotiation of terms with a certain financial institution partner.
The company reported a net loss of $189.3 million, compared to a net loss of $134.7 million in the previous year. The increase in net loss is primarily due to a $131.6 million impairment of goodwill and intangible assets related to the Bridg platform.
Operating expenses, including sales and marketing, research and development, and general and administrative expenses, decreased by 4% to $158.7 million.
Cardlytics completed a partial repayment of its 2020 Convertible Senior Notes and issued new 2024 Convertible Senior Notes, resulting in a gain on debt extinguishment of $13.0 million.
The company reported cash and cash equivalents of $65.6 million as of December 31, 2024, down from $91.8 million at the end of the previous year.
Cardlytics continues to focus on expanding its network of financial institution partners and enhancing its platform capabilities to drive future growth.
The company identified certain risks, including dependence on a limited number of financial institution partners and potential impacts from unfavorable macroeconomic conditions.
Cardlytics does not anticipate paying cash dividends to common stockholders in the near future, as it plans to reinvest in its business to support growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cardlytics Inc. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.