Cardlytics Inc
NASDAQ:CDLX
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Cardlytics Inc
Cardlytics, Inc. engages in the development of marketing solutions through its purchase intelligence platform. The company is headquartered in Atlanta, Georgia and currently employs 591 full-time employees. The company went IPO on 2018-02-09. The firm operates advertising platform, namely the Cardlytics platform within its own and its partners' digital channels, which include online, mobile applications, email, and various real-time notifications. The company also operates a customer data platform, namely the Bridg platform, which utilizes point-of-sale (POS) data, including product-level purchase data, to enable marketers, in a privacy-protective manner, to perform analytics and targeted loyalty marketing and also enable marketers to measure the impact of their marketing. Through the Cardlytics platform, marketers can deliver advertising content to customers in the form of an opportunity to earn rewards, which are funded with a portion of the fees, which it collect from marketers. With the Cardlytics platform, it enables marketers to reach potential customers across its network of financial institutions (FI) partners through their digital banking accounts.
Cardlytics, Inc. engages in the development of marketing solutions through its purchase intelligence platform. The company is headquartered in Atlanta, Georgia and currently employs 591 full-time employees. The company went IPO on 2018-02-09. The firm operates advertising platform, namely the Cardlytics platform within its own and its partners' digital channels, which include online, mobile applications, email, and various real-time notifications. The company also operates a customer data platform, namely the Bridg platform, which utilizes point-of-sale (POS) data, including product-level purchase data, to enable marketers, in a privacy-protective manner, to perform analytics and targeted loyalty marketing and also enable marketers to measure the impact of their marketing. Through the Cardlytics platform, marketers can deliver advertising content to customers in the form of an opportunity to earn rewards, which are funded with a portion of the fees, which it collect from marketers. With the Cardlytics platform, it enables marketers to reach potential customers across its network of financial institutions (FI) partners through their digital banking accounts.
Revenue Decline: Q3 revenue fell 22.4% year-over-year to $52 million, largely due to content restrictions from Cardlytics’ largest financial institution (FI) partner.
Billings Drop: Total billings were $89.2 million, down 20.3% YoY, as advertiser content was blocked on major partner channels.
Profitability Outperformance: Adjusted EBITDA was $3.2 million, beating the high end of guidance and up $5 million YoY despite top-line weakness.
Cost Cuts: Workforce was reduced by 30% in Q3, with annualized cost savings expected to reach $26 million, totaling $50 million in cuts for the year.
Guidance: Q4 billings expected at $86–96 million and revenue at $51.1–59.1 million, both representing further YoY declines due to ongoing FI partner restrictions.
Margin Resilience: Adjusted contribution margin reached a record 57.7%, up 3.5 points YoY, driven by a favorable partner mix and lower expenses.
Strategic Shifts: The company is focused on diversifying supply, expanding partnerships (notably with OpenTable), and leveraging new pricing and engagement strategies.
