Cardlytics Reports Q3 2024 Financial Results

Cardlytics, Inc. ( (CDLX) ) has released its Q3 earnings. Here is a breakdown of the information Cardlytics, Inc. presented to its investors.

Cardlytics, Inc. is a digital advertising platform operating in the marketing and advertising industry, known for partnering with financial institutions to enhance customer loyalty through rewards programs. In its latest earnings report for the third quarter of 2024, Cardlytics reported financial results that exceeded the upper end of their guidance, despite ongoing challenges in transforming their business. Key financial metrics from the report include a revenue of $67.1 million, marking a 15% decrease year-over-year. The company also recorded a net loss of $145.2 million, significantly wider than the $24.0 million loss in the same quarter of the previous year. Adjusted EBITDA showed a loss of $1.8 million compared to a gain of $3.9 million in the prior year’s quarter. Additionally, the company’s monthly active users (MAUs) increased by 2% year-over-year to 166.4 million, although the average revenue per user (ARPU) decreased from $0.49 to $0.40. Looking ahead, Cardlytics remains focused on overcoming short-term obstacles and believes that its strategy of enhancing network performance and scaling partnerships will drive consumer engagement and long-term growth, as per their management’s outlook.