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Sep 30, 2024
Cardlytics Q3 2024 Earnings Report
Cardlytics' third quarter results surpassed guidance, demonstrating a focus on addressing short-term challenges amidst an ongoing business transformation.
Key Takeaways
Cardlytics reported a revenue of $67.1 million, a 15% decrease year-over-year, and a net loss of $145.2 million, or $2.90 per diluted share, compared to a net loss of $24.0 million, or $0.63 per diluted share in the third quarter of 2023. The company's MAUs increased by 2% year-over-year to 166.4 million, while ARPU decreased to $0.40 from $0.49 in the third quarter of 2023.
Revenue was $67.1 million, a decrease of 15% year-over-year, or 13% excluding Entertainment.
Billings were $112.0 million, a decrease of 4% year-over-year, or 2% excluding Entertainment.
Net Loss was $145.2 million, or $2.90 per diluted share.
Cardlytics MAUs were 166.4 million, an increase of 2% year-over-year.
Revenue by Segment
Forward Guidance
Cardlytics anticipates Billings, Revenue, Adjusted Contribution and Adjusted EBITDA to be in the following ranges (in millions, except for percentage change rates):
Positive Outlook
- Billings are expected to be between $102.0 million and $108.0 million.
- Revenue is projected to be between $62.0 million and $67.0 million.
- Adjusted Contribution is anticipated to be between $33.0 million and $36.0 million.
- Adjusted EBITDA is forecasted to be between $(5.0) million and $(1.0) million.
Challenges Ahead
- Billings are expected to decrease by 23% - 18% year-over-year.
- Revenue is projected to decrease by 30% - 25% year-over-year.
- Adjusted Contribution is anticipated to decrease by 30% - 24% year-over-year.
- Adjusted EBITDA is forecasted to decrease by $15.0 million - $11.0 million year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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