2024 Q4 Form 10-Q Financial Statement

#000166607124000167 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $67.06M
YoY Change -15.12%
Cost Of Revenue $30.68M
YoY Change -15.12%
Gross Profit $36.38M
YoY Change -15.11%
Gross Profit Margin 54.26%
Selling, General & Admin $25.24M
YoY Change -15.08%
% of Gross Profit 69.37%
Research & Development $13.19M
YoY Change 6.15%
% of Gross Profit 36.27%
Depreciation & Amortization $6.970M
YoY Change 16.36%
% of Gross Profit 19.16%
Operating Expenses $38.43M
YoY Change -8.82%
Operating Profit -$148.5M
YoY Change 619.28%
Interest Expense $3.364M
YoY Change -201.63%
% of Operating Profit
Other Income/Expense, Net $3.364M
YoY Change -201.51%
Pretax Income -$145.2M
YoY Change 505.78%
Income Tax
% Of Pretax Income
Net Earnings -$145.2M
YoY Change 505.78%
Net Earnings / Revenue -216.51%
Basic Earnings Per Share -$2.90
Diluted Earnings Per Share -$2.90
COMMON SHARES
Basic Shares Outstanding 50.82M shares 49.84M shares
Diluted Shares Outstanding 50.03M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.99M
YoY Change -25.65%
Cash & Equivalents $66.99M
Short-Term Investments
Other Short-Term Assets $6.787M
YoY Change -8.28%
Inventory
Prepaid Expenses
Receivables $105.6M
Other Receivables $3.968M
Total Short-Term Assets $183.3M
YoY Change -10.83%
LONG-TERM ASSETS
Property, Plant & Equipment $2.847M
YoY Change -5.26%
Goodwill $159.4M
YoY Change -54.8%
Intangibles $12.83M
YoY Change -70.25%
Long-Term Investments
YoY Change
Other Assets $2.169M
YoY Change 11.75%
Total Long-Term Assets $216.1M
YoY Change -49.67%
TOTAL ASSETS
Total Short-Term Assets $183.3M
Total Long-Term Assets $216.1M
Total Assets $399.4M
YoY Change -37.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.927M
YoY Change 12.88%
Accrued Expenses $8.359M
YoY Change -13.52%
Deferred Revenue $2.064M
YoY Change -37.89%
Short-Term Debt $45.79M
YoY Change 52.63%
Long-Term Debt Due $7.000K
YoY Change
Total Short-Term Liabilities $155.9M
YoY Change -13.13%
LONG-TERM LIABILITIES
Long-Term Debt $167.4M
YoY Change -26.27%
Other Long-Term Liabilities $17.00K
YoY Change -99.43%
Total Long-Term Liabilities $17.00K
YoY Change -99.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.9M
Total Long-Term Liabilities $17.00K
Total Liabilities $329.7M
YoY Change -19.5%
SHAREHOLDERS EQUITY
Retained Earnings -$1.285B
YoY Change 27.17%
Common Stock $1.356B
YoY Change 10.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $69.70M
YoY Change
Total Liabilities & Shareholders Equity $399.4M
YoY Change -37.1%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$145.2M
YoY Change 505.78%
Depreciation, Depletion And Amortization $6.970M
YoY Change 16.36%
Cash From Operating Activities $1.385M
YoY Change 16.39%
INVESTING ACTIVITIES
Capital Expenditures $5.257M
YoY Change 66.89%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$5.257M
YoY Change 66.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -388.0K
YoY Change -1393.33%
NET CHANGE
Cash From Operating Activities 1.385M
Cash From Investing Activities -5.257M
Cash From Financing Activities -388.0K
Net Change In Cash -4.260M
YoY Change 120.73%
FREE CASH FLOW
Cash From Operating Activities $1.385M
Capital Expenditures $5.257M
Free Cash Flow -$3.872M
YoY Change 97.55%

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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">consolidated financial statements. Significant items subject to such estimates and assumptions include revenue recognition, internal-use software development costs, stock-based compensation, allowance for doubtful accounts, valuation of acquired intangible assets of Bridg, valuation of contingent consideration for Bridg, valuation of long-lived assets, goodwill valuation, income tax including valuation allowance and contingencies. We base our estimates on historical experience and on assumptions that we believe are reasonable. Changes in facts or circumstances may cause us to change our assumptions and estimates in future periods and it is possible that actual results could differ from our current or revised future estimates.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Macroeconomic Considerations</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unfavorable conditions in the economy both in the United States and abroad may negatively affect the growth of our business and our results of operations. For example, macroeconomic events, including the changes in inflation, the U.S. Federal Reserve raising interest rates, disruptions in access to bank deposits or lending commitments due to bank failures, the Russia-Ukraine war and the Middle East conflict have led to economic uncertainty globally. Historically, during periods of economic uncertainty and downturns, businesses may slow spending on advertising, which may impact our business and our customers’ businesses.</span></div>The effect of macroeconomic conditions may not be fully reflected in our results of operations until future periods. If, however, economic uncertainty increases or the global economy worsens, our business, financial condition and results of operations may be harmed. For further discussion of the potential impacts of macroeconomic events on our business, financial condition and operating results, see the section titled "Risk Factors.
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1986417 shares
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
3700000 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
1600000 usd
us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
-45114000 usd
us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
-61808000 usd
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
5817000 usd
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
-15045000 usd
CY2024Q3 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
AcceleratedShareRepurchasesSettlementPaymentOrReceipt
-4263000 usd
CY2023Q3 us-gaap Accelerated Share Repurchases Settlement Payment Or Receipt
AcceleratedShareRepurchasesSettlementPaymentOrReceipt
0 usd
CY2024Q3 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
0 usd
CY2023Q3 us-gaap Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
27268000 usd
CY2023Q4 cdlx First Anniversary Annualized Recurring Revenue Cash Paid
FirstAnniversaryAnnualizedRecurringRevenueCashPaid
50100000 usd
CY2023Q4 cdlx Business Acquisition Equity Interest Issued Or Issuable Number Of Shares Delivered
BusinessAcquisitionEquityInterestIssuedOrIssuableNumberOfSharesDelivered
2740418 shares
CY2024Q1 cdlx Settlement Agreement Annualized Recurring Revenue Cash Paid
SettlementAgreementAnnualizedRecurringRevenueCashPaid
25000000 usd
CY2024Q1 cdlx Business Acquisition Equity Interest Issued Or Issuable Number Of Shares Delivered
BusinessAcquisitionEquityInterestIssuedOrIssuableNumberOfSharesDelivered
3600000 shares
CY2024Q1 cdlx Settlement Agreement Annualized Recurring Revenue Cash Paid
SettlementAgreementAnnualizedRecurringRevenueCashPaid
20000000 usd
CY2024Q1 cdlx Business Acquisition Equity Interest Issued Or Issuable Number Of Shares Delivered
BusinessAcquisitionEquityInterestIssuedOrIssuableNumberOfSharesDelivered
3600000 shares
CY2024Q2 us-gaap Significant Supply Commitment Remaining Minimum Amount Committed
SignificantSupplyCommitmentRemainingMinimumAmountCommitted
4500000 usd
us-gaap Payments To Suppliers
PaymentsToSuppliers
4500000 usd
CY2024Q3 us-gaap Significant Supply Commitment Remaining Minimum Amount Committed
SignificantSupplyCommitmentRemainingMinimumAmountCommitted
0 usd
CY2023Q3 us-gaap Significant Supply Commitment Remaining Minimum Amount Committed
SignificantSupplyCommitmentRemainingMinimumAmountCommitted
1300000 usd
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
13500000 usd
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
17000000.0 usd
CY2020Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
230000000 usd
CY2020Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0100
CY2023Q2 cdlx First Anniversary Annualized Recurring Revenue
FirstAnniversaryAnnualizedRecurringRevenue
23200000 usd
CY2024Q1 cdlx First Anniversary Annualized Recurring Revenue Cash Paid
FirstAnniversaryAnnualizedRecurringRevenueCashPaid
25000000 usd
CY2024Q1 cdlx Business Acquisition Equity Interest Issued Or Issuable Number Of Shares Delivered
BusinessAcquisitionEquityInterestIssuedOrIssuableNumberOfSharesDelivered
3600000 shares
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2024Q3 us-gaap Revenues
Revenues
67057000 usd
CY2023Q3 us-gaap Revenues
Revenues
79005000 usd
us-gaap Revenues
Revenues
204301000 usd
us-gaap Revenues
Revenues
220037000 usd
CY2024Q3 cdlx Financial Institution Share And Oth0er Third Party Costs Excluding Non Cash Equity Expense And Deferred Implementation Costs
FinancialInstitutionShareAndOth0erThirdPartyCostsExcludingNonCashEquityExpenseAndDeferredImplementationCosts
30675000 usd
CY2023Q3 cdlx Financial Institution Share And Oth0er Third Party Costs Excluding Non Cash Equity Expense And Deferred Implementation Costs
FinancialInstitutionShareAndOth0erThirdPartyCostsExcludingNonCashEquityExpenseAndDeferredImplementationCosts
36144000 usd
cdlx Financial Institution Share And Oth0er Third Party Costs Excluding Non Cash Equity Expense And Deferred Implementation Costs
FinancialInstitutionShareAndOth0erThirdPartyCostsExcludingNonCashEquityExpenseAndDeferredImplementationCosts
94476000 usd
cdlx Financial Institution Share And Oth0er Third Party Costs Excluding Non Cash Equity Expense And Deferred Implementation Costs
FinancialInstitutionShareAndOth0erThirdPartyCostsExcludingNonCashEquityExpenseAndDeferredImplementationCosts
108698000 usd
CY2024Q3 cdlx Adjusted Contribution
AdjustedContribution
36382000 usd
CY2023Q3 cdlx Adjusted Contribution
AdjustedContribution
42861000 usd
cdlx Adjusted Contribution
AdjustedContribution
109825000 usd
cdlx Adjusted Contribution
AdjustedContribution
111339000 usd
CY2024Q3 cdlx Delivery Costs
DeliveryCosts
7830000 usd
CY2023Q3 cdlx Delivery Costs
DeliveryCosts
7012000 usd
cdlx Delivery Costs
DeliveryCosts
21664000 usd
cdlx Delivery Costs
DeliveryCosts
20451000 usd
CY2024Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13163000 usd
CY2023Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14161000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
41306000 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
43314000 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13194000 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12430000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
39712000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
38841000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12076000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15561000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
42712000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
44907000 usd
CY2024Q3 cdlx Acquisition And Integration Costs Benefit
AcquisitionAndIntegrationCostsBenefit
0 usd
CY2023Q3 cdlx Acquisition And Integration Costs Benefit
AcquisitionAndIntegrationCostsBenefit
78000 usd
cdlx Acquisition And Integration Costs Benefit
AcquisitionAndIntegrationCostsBenefit
162000 usd
cdlx Acquisition And Integration Costs Benefit
AcquisitionAndIntegrationCostsBenefit
-8146000 usd
CY2024Q3 cdlx Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
100000 usd
CY2023Q3 cdlx Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
8281000 usd
cdlx Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
110000 usd
cdlx Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
-15045000 usd
CY2024Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
131595000 usd
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
131595000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6970000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5990000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
19749000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
19765000 usd
CY2024Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3364000 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3314000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
13470000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1118000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-145182000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-23966000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-173715000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-33866000 usd
CY2024Q3 us-gaap Revenues
Revenues
67057000 usd
CY2023Q3 us-gaap Revenues
Revenues
79005000 usd
us-gaap Revenues
Revenues
204301000 usd
us-gaap Revenues
Revenues
220037000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2847000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3323000 usd

Files In Submission

Name View Source Status
cdlx-20240930_cal.xml Edgar Link unprocessable
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0001666071-24-000167-index.html Edgar Link pending
0001666071-24-000167.txt Edgar Link pending
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cdlx-20240930.htm Edgar Link pending
cdlx-20240930.xsd Edgar Link pending
cdlx-20240930_g1.jpg Edgar Link pending
cdlx_form10-qx2024q3xex101.htm Edgar Link pending
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