Cardlytics Inc (CDLX)
NASDAQ:CDLX
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Cardlytics
(NASDAQ:CDLX)
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Rating:45Neutral
Price Target:
$0.62
▼(-38.22% Downside)
Action:Reiterated
Date:05/09/26
CDLX scores low primarily due to weak financial performance (large losses, declining TTM revenue, and a high-risk balance sheet with negative equity) and bearish technicals (price below all key moving averages with negative MACD). The score is partially supported by improving cash flow and earnings-call indicators of operational progress (cost reductions, margin expansion, and sequential-growth guidance), though offset by significant year-over-year declines and partner-loss impact.
Positive Factors
Improving cash generation
Recent positive operating and free cash flow indicate the business is generating internal liquidity after years of volatility. That improves short-to-medium-term runway, reduces near-term refinancing pressure, and supports reinvestment or further cost rationalization over the next several quarters.
Negative Factors
Loss of major FI partner
Losing a large financial-institution partner directly reduces distribution, consumer signals and available inventory for campaigns. That weakens targeting efficacy and advertiser ROI metrics, making it harder to regain scale and pricing power within a 2–6 month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
Recent positive operating and free cash flow indicate the business is generating internal liquidity after years of volatility. That improves short-to-medium-term runway, reduces near-term refinancing pressure, and supports reinvestment or further cost rationalization over the next several quarters.
Read all positive factors
Cardlytics (CDLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.89M
Dividend YieldN/A
Average Volume (3M)1.59M
Price to Earnings (P/E)―
Beta (1Y)2.49
Revenue Growth-24.54%
EPS Growth42.74%
CountryUS
Employees440
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)-1.78
Shares Outstanding57,605,680
10 Day Avg. Volume2,000,092
30 Day Avg. Volume1,587,123
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)-9.39
Price to Sales (P/S)0.26
P/FCF Ratio6.93
Enterprise Value/Market Cap6.20
Enterprise Value/Revenue1.05
Enterprise Value/Gross Profit2.24
Enterprise Value/Ebitda-3.17
Forecast
1Y Price Target
$1.00Price Target Upside-0.99% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)-0.88
Revenue Forecast (FY)$152.79M
Cardlytics Business Overview & Revenue Model
Company Description
Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financia...
How the Company Makes Money
Cardlytics primarily makes money by enabling merchants/advertisers to run performance-oriented advertising and promotional campaigns that are delivered to consumers through participating financial institutions’ digital banking channels. In this mo...
Cardlytics Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong execution on cost reductions, margin expansion (60.6% adjusted contribution margin), positive adjusted EBITDA on a continued-operations basis, improved cash-flow trends, robust U.K. growth (+21% YoY) and product/AI progress. However, these operational improvements were offset by significant year-over-year declines in core scale metrics (billings -37%, revenue -39%), a 21.3% drop in ACPU, and the material impact of losing Bank of America as a partner. Management provided sequential-growth guidance for Q2, indicating confidence in recovery, but near-term top-line weakness remains notable.Positive Updates
Supply Stabilization and FI Engagement
Supply has stabilized with many existing financial-institution partners actively engaging; new cardholder portfolios to be onboarded later this year and incentive programs (e.g., Double Days) drove 0.25 million new activators.
Negative Updates
Significant Year-over-Year Revenue and Billings Declines
Q1 billings from continued operations were $58.1 million, a 37% decrease year-over-year. Q1 revenue from continued operations was $34.3 million, down 39% year-over-year (total revenue inclusive of Bridg was $38.5M).
Read all updates
Q1-2026 Updates
Positive
Negative
Supply Stabilization and FI Engagement
Supply has stabilized with many existing financial-institution partners actively engaging; new cardholder portfolios to be onboarded later this year and incentive programs (e.g., Double Days) drove 0.25 million new activators.
Read all positive updates
Company Guidance
The company guided Q2 2026 (excluding Bridg) to billings of $61–67M, revenue of $35–40M, adjusted contribution of $20–23M and adjusted EBITDA of -$2.7M to $1.3M, representing sequential growth of ~10% for billings and ~9% for both revenue and adjusted contribution versus Q1 continued operations. For context, Q1 continued-op results were billings $58.1M (total incl. Bridg $62.3M), revenue $34.3M (total $38.5M), adjusted contribution $19.7M (total $23.3M) and adjusted EBITDA $0.2M (total -$2.2M), with an all‑time high adjusted contribution margin of 60.6%; Q1 ended with $35.7M cash, MQUs of $197M and ACPU of $0.10 (down 21.3% YoY).Cardlytics Financial Statement Overview
Summary
Income Statement
23
Negative
Balance Sheet
18
Very Negative
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 205.69M | 233.27M | 278.30M | 309.20M | 298.54M | 267.12M |
| Gross Profit | 96.59M | 105.08M | 120.89M | 130.38M | 112.63M | 103.34M |
| EBITDA | -68.24M | -19.73M | -152.53M | -99.00M | -420.41M | -88.21M |
| Net Income | -94.69M | -103.49M | -189.30M | -134.70M | -465.26M | -128.56M |
Balance Sheet | ||||||
| Total Assets | 263.91M | 285.64M | 392.71M | 574.14M | 691.24M | 1.26B |
| Cash, Cash Equivalents and Short-Term Investments | 59.80M | 48.72M | 65.59M | 91.83M | 121.91M | 233.47M |
| Total Debt | 210.03M | 215.31M | 221.65M | 266.11M | 235.26M | 197.23M |
| Total Liabilities | 267.91M | 292.15M | 322.72M | 439.35M | 479.63M | 573.10M |
| Stockholders Equity | -4.00M | -6.51M | 69.99M | 134.80M | 211.60M | 690.70M |
Cash Flow | ||||||
| Free Cash Flow | 5.89M | 8.81M | -28.12M | -12.58M | -67.39M | -51.09M |
| Operating Cash Flow | 10.35M | 9.29M | -8.82M | -185.00K | -53.90M | -38.52M |
| Investing Cash Flow | -13.70M | -15.30M | -18.75M | -10.06M | -15.76M | -506.69M |
| Financing Cash Flow | -13.11M | -11.12M | 1.44M | -20.03M | -39.99M | 486.00M |
Cardlytics Technical Analysis
Negative
1.01
Price Trends
0.87
Negative
0.95
Negative
1.24
Negative
Market Momentum
-0.09
Positive
27.32
Positive
12.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDLX, the sentiment is Negative. The current price of 1.01 is above the 20-day moving average (MA) of 0.79, above the 50-day MA of 0.87, and below the 200-day MA of 1.24, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 27.32 is Positive, neither overbought nor oversold. The STOCH value of 12.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDLX.
Cardlytics Risk Analysis
Cardlytics disclosed 57 risk factors in its most recent earnings report. Cardlytics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cardlytics Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $653.73M | 23.32 | 23.85% | ― | 14.75% | ― | |
62 Neutral | $1.52B | 17.72 | 2.55% | ― | -1.81% | -35.73% | |
62 Neutral | $987.57M | 30.98 | -10.81% | 1.29% | 14.04% | -1310.49% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $812.09M | 28.87 | 10.17% | ― | -0.43% | -15.84% | |
45 Neutral | $34.89M | -3.22 | -870.86% | ― | -24.54% | 42.74% |
* Communication Services Sector Average
CDLX
Cardlytics
0.60
-1.23
-67.43%
ZD
Ziff Davis
41.95
11.10
35.98%
QNST
Quinstreet
11.34
-3.82
-25.20%
CRTO
Criteo SA
17.14
-9.29
-35.15%
EEX
Emerald Expositions Events
5.00
0.50
11.01%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.