Cardlytics Inc
cardlytics.comWhat Do They Do?
Sells targeted advertising and rewards through financial institutions’ digital banking channels, plus purchase-data analytics and loyalty-marketing tools for marketers.
10-K for FY2025, filed Mar 4, 2026Our data capabilities, coupled with our access to customers using our partners' digital channels, enable us to help solve fundamental…View ↗
Through the Cardlytics platform, our financial media network, marketers can deliver advertising content to customers that allows them to…View ↗
The Bridg platform is a customer data platform that utilizes POS data from our merchant data partners, including product-level purchase…View ↗
How Do They Make Money?
Marketers pay campaign fees tied to qualifying purchases; Cardlytics invoices monthly, with payment typically due 30 to 60 days later. Bridg's subscriptions are billed in advance monthly, quarterly or annually, with separate charges for some services and usage.
10-K for FY2025, filed Mar 4, 2026Served Based Pricing Our primary pricing model is Cost per Served Sale ("CPS"). We generate Revenue by charging a percentage, which we…View ↗
We invoice marketers monthly based on the qualifying purchases of partners' customers as reported by our partners during the month. Invoice…View ↗
The Bridg platform generates revenue through the sale of subscriptions to our cloud-based customer-data platform and the delivery of…View ↗
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10-K for FY2025, filed Mar 4, 2026
FY2025 revenue by reportable segment ↗
$233.3M
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10-K for FY2025, filed Mar 4, 2026
$233.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cardlytics Direct
Usage-based
10-K for FY2025, filed Mar 4, 2026 |
91%
FY2022: 93%
|
Cardlytics Direct, FY2025
$212.3M Sources
|
Usage-based |
|
Bridg Acquisition
Mix
|
9.0%
FY2022: 7.2%
|
Bridg Acquisition, FY2025
$20.9M Sources
|
Mix |
Who Are Their Customers?
Marketers buy campaigns directly or through advertising agencies. Financial institutions and merchants provide the data and digital channels the platforms use.
10-K for FY2025, filed Mar 4, 2026We sell our solutions by entering into agreements directly with marketers or their marketing agencies, generally through the execution of…View ↗
PartnersView ↗
Our sales teams are focused on growing our share of advertising budgets from existing marketers and attracting new brands, merchants and…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $103.5M in FY2025, but brought in more cash than it spent: $8.8M of free cash flow.
10-K for FY2025, filed Mar 4, 2026
−$101.8MView ↗
10-K for FY2025, filed Mar 4, 2026
−$103.5MView ↗
10-K for FY2025, filed Mar 4, 2026
$8.8MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$14.9MView ↗
- ▲ +60% (Loss)
- vs −$9.3M in Q2 FY2025
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Aug 5, 2026
Issued third-quarter financial guidance
Forecast third-quarter revenue of $34.0 million to $39.0 million.
Sources
8-K, filed Aug 5, 2026
Revenue $34.0 - $39.0 (27%) - (17%)View ↗
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Jun 3, 2026
Received Nasdaq bid-price deficiency notice and effected a reverse split
Sources
8-K, filed Jun 3, 2026
On June 3, 2026, Cardlytics, Inc., a Delaware corporation (the “Company”), received a letter from the Listing Qualifications Staff (the…View ↗
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Mar 24, 2026
Completed sale of Bridg assets to PAR
PAR delivered 1,810,222 shares of its common stock as consideration.
Sources
8-K, filed Mar 24, 2026
On March 24, 2026 (the “Closing Date”), the Company, PAR and Buyer completed the Bridg Sale. Pursuant to the Purchase Agreement, on the…View ↗
Shrinking. Revenue fell 13% in 4 years, from $267.1M in FY2021 to $233.3M in FY2025, about 3% a year.
Added a retail media product
The Bridg business has added Rippl, a retail media product for regional grocers, brands and consumer packaged goods companies, alongside its customer-data platform.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Mar 4, 2026The Bridg platform is a customer data platform, that utilizes POS data from our merchant data partners, including product-level purchase…View ↗
The Bridg platform is a customer data platform that utilizes POS data from our merchant data partners, including product-level purchase…View ↗
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