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Jun 30, 2020
Cardlytics Q2 2020 Earnings Report
Cardlytics' financial results for Q2 2020 were announced, revealing a decrease in revenue compared to the same quarter last year, but the company is optimistic about narrowing year-over-year declines in the second half of the year.
Key Takeaways
Cardlytics reported a revenue of $28.2 million, a 42% decrease year-over-year. The company's FI MAUs increased by 31% to 157.2 million, but ARPU decreased by 55% to $0.18. The company is optimistic about long-term growth due to the launch of Wells Fargo and progress in product development initiatives.
Revenue decreased by 42% year-over-year to $28.2 million.
FI MAUs increased by 31% year-over-year to 157.2 million.
ARPU decreased by 55% year-over-year to $0.18.
Net loss attributable to common stockholders was $(19.8) million, or $(0.73) per diluted share.
Cardlytics
Cardlytics
Forward Guidance
Cardlytics anticipates narrowing year-over-year declines in the second half of 2020, driven by the completion of the Wells Fargo launch and advancements in product development.
Positive Outlook
- Consumer spending recovered throughout the quarter.
- Optimistic about narrowing year-over-year declines in the second half of 2020.
- Completed launch of Wells Fargo, expanding reach to more than 150 million MAUs.
- Extensive progress on product development initiatives.
- Self-service and automation platform is now being tested with several agencies.
Challenges Ahead
- Slight pause in consumer spending in recent weeks.
- Revenue decreased by 42% year-over-year.
- Billings decreased by 46% year-over-year.
- Gross profit decreased by 55% year-over-year.
- Adjusted EBITDA was a loss of $(7.7) million compared to a loss of $(0.6) million in the second quarter of 2019.