Expansion of CRP Partnerships
Cardlytics signed 3 new CRP partners, including OpenTable, which represents a significant growth opportunity by meeting more consumers where they are and unlocking new advertiser verticals.
UK Revenue Growth
The UK business showed a strong performance with a 22% year-over-year revenue growth, driven by higher billings and an increase in supply.
Improved Adjusted EBITDA
Despite top line challenges, Cardlytics achieved a positive adjusted EBITDA of $3.2 million, an increase of $5.0 million compared to the previous year.
High Adjusted Contribution Margin
Adjusted contribution margin reached 57.7%, the highest experienced to date, driven by a favorable partner mix and improved economics with new FI partners.
Strategic Cost Reductions
Cardlytics executed significant cost reductions, including a 30% workforce reduction, resulting in annualized cash savings of $26 million.