NEW YORK, March 21, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Cardlytics, Inc. ("Cardlytics" or the "Company") (NASDAQ: CDLX) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Cardlytics investors who were adversely affected by alleged securities fraud between March 14, 2024 and August 7, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/cardlytics-lawsuit-submissio ...

NEW YORK, March 20, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Cardlytics, Inc. (NASDAQ: CDLX).Shareholders who purchased shares of CDLX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/cardlytics-loss-submission-form/?id=137062&from=4CLASS PERIOD: March 14, 2024 to August ...

NEW YORK, March 18, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Cardlytics, Inc. ("Cardlytics" or the "Company") (NASDAQ: CDLX) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Cardlytics investors who were adversely affected by alleged securities fraud between March 14, 2024 and August 7, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/cardlytics-lawsuit-submissio ...

NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Cardlytics, Inc. (NASDAQ: CDLX). Shareholders who purchased shares of CDLX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/cardlytics-loss-submission-form/?id=136038&from=3  CLASS PERIOD: March 14, 2024 ...

NEW YORK, March 17, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Cardlytics, Inc. (NASDAQ: CDLX).Shareholders who purchased shares of CDLX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/cardlytics-loss-submission-form/?id=136000&from=4CLASS PERIOD: March 14, 2024 to August ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Cardlytics, Inc. due to alleged violations of federal securities laws, encouraging affected investors to seek legal recourse [2][4]. Group 1: Legal Investigation and Class Action - The law firm is reminding investors of the March 25, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Cardlytics [2]. - The complaint alleges that Cardlytics and its executives made false or misleading statements regarding consumer engagement and revenue growth, which misled investors [4]. - The firm is also encouraging anyone with information regarding Cardlytics' conduct to come forward, including whistleblowers and former employees [8]. Group 2: Financial Performance and Stock Impact - Cardlytics reported an 8% year-over-year revenue increase for Q1 2024, but this was overshadowed by a 20.2% increase in consumer incentives, leading to a stock price drop of $5.33, or 36.5%, to $9.27 per share [5]. - In Q2 2024, Cardlytics experienced a 9% year-over-year revenue decrease to $69.6 million, with a 3% decline in adjusted contribution to $36.4 million, resulting in a stock price fall of $3.94, or 57.1%, to $2.96 per share [6].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Cardlytics To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $50,000 in Cardlytics between March 14, 2024 and August 7, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, March 13, 2025 /PRNews ...

User Growth - Cardlytics Monthly Active Users (MAUs) increased by 4.8 million in 2024, reaching 166,943, primarily driven by organic growth from existing financial institution partners in the U.K. and U.S. and a new partner in the U.K.[217] Revenue and Financial Performance - Total Revenue for 2024 was $278.3 million, a decrease of $30.9 million (10%) compared to $309.2 million in 2023[222]. - Consolidated revenue for 2024 was $278,298, a decrease of 10% from $309,204 in 2023[234]. - Revenue from the Cardlytics platform in 2024 was $255,615, down from $285,425 in 2023, a decrease of 10%[234]. - Revenue from the Bridg platform in 2024 was $22,683, slightly down from $23,779 in 2023[234]. - Adjusted contribution for 2024 was $150,537, down from $158,626 in 2023, reflecting a decrease of approximately 5%[235]. - The company reported a loss on divestiture of $6.6 million in 2024, which is 2% of revenue, following the sale of HSP EPI Acquisition, LLC for $6.0 million in cash[269]. Profitability and Losses - Net Loss for 2024 was $189.3 million, compared to a net loss of $134.7 million in 2023, reflecting increased costs and lower revenue[222]. - Adjusted EBITDA for 2024 was $2.5 million, down from $3.8 million in 2023, indicating a decline in operational performance[222]. - Free Cash Flow for 2024 was $(28.1) million, a decrease from $(12.6) million in 2023, indicating higher cash outflows[222]. - Total costs and expenses increased to $473.8 million in 2024, up from $444.9 million in 2023, resulting in an operating loss of $195.5 million compared to a loss of $135.7 million in the previous year[256]. Expenses - Gross Profit for 2024 was $120.9 million, a decrease of $9.5 million (7%) compared to $130.4 million in 2023[222]. - General and administrative expenses decreased by $2.3 million or 4% to $56.5 million in 2024, with a significant reduction in software licenses and data storage costs[264]. - Sales and marketing expenses decreased by $4.8 million or 8% to $52.6 million in 2024, primarily due to a reduction in staff expenses related to the divestiture of entertainment[262]. - Research and development expenses decreased by $1.7 million or 3% to $49.6 million in 2024, with a notable decrease in professional fees[263]. - Stock-based compensation expense for 2024 was $40,367, compared to $40,980 in 2023[237]. Cash Flow and Liquidity - Cash and cash equivalents decreased to $65.6 million in 2024 from $91.8 million in 2023, with working capital dropping to $29.0 million from $52.8 million[274]. - The company experienced a net cash used in operating activities of $8.8 million in 2024, reflecting a net loss of $189.3 million, with $196.3 million of non-cash charges[297]. - Cash flows used in investing activities totaled $18.7 million in 2024, primarily for technology hardware purchases and internal-use software development costs[300]. - Financing activities provided $1.4 million in cash in 2024, including net proceeds of $166.8 million from the issuance of 2024 Convertible Senior Notes[302]. Debt and Financing - The company issued $172.5 million in 4.25% Convertible Senior Notes due in 2029, with net proceeds of $166.8 million used to repurchase $183.9 million of the 2020 Convertible Senior Notes[283]. - The company entered into an equity distribution agreement allowing for the sale of up to $50.0 million in common stock, raising $48.3 million from the sale of 3,907,600 shares at an average price of $12.80[282]. - The company amended its 2018 Loan Facility to increase borrowing capacity to 85% of U.S. eligible accounts receivable and extended the maturity date to July 31, 2026[289]. Impairment and Valuation - Impairment of goodwill and intangible assets rose to $131.6 million in 2024, an increase of $61.1 million or 87% from $70.5 million in 2023, attributed to economic slowdown and decreased consumer spending[268]. - The company recognized a goodwill impairment of $117.8 million for the Bridg platform as of September 30, 2024, due to a decline in stock price[308]. - The company performed its annual impairment test in the fourth quarter of 2024 and found no impairment associated with the Cardlytics platform in the U.S.[308]. Future Outlook - Cardlytics plans to enhance engagement through increased Consumer Incentives, which may negatively impact GAAP Revenue but is expected to drive long-term growth[212]. - The company expects to continue using cash for investing activities as it grows its business[299]. - The company expects to incur additional operating losses as it continues to grow its business[277].

Financial Performance - Total Revenue for Q4 2024 was $74.0 million, a decrease of 17.0% compared to $89.2 million in Q4 2023[7] - Billings for Q4 2024 were $116.3 million, a decrease of 11.9% compared to $131.9 million in Q4 2023[7] - Adjusted EBITDA for Q4 2024 was $6.4 million, a decrease of $3.6 million compared to $10.0 million in Q4 2023[7] - Net Loss for Q4 2024 was $(15.6) million, significantly improved from a Net Loss of $(100.8) million in Q4 2023[7] - For the full year 2024, Total Revenue was $278.3 million, a decrease of 10.0% compared to $309.2 million in 2023[7] - Net loss for the year ended December 31, 2024, was $189,304,000, compared to a net loss of $134,702,000 in 2023, representing a 40.5% increase in losses[27] - Total revenue for the year ended December 31, 2024, was $278.3 million, down from $309.2 million in 2023, reflecting a decrease of about 10%[33] - Adjusted EBITDA for the year ended December 31, 2024, was $2.5 million, a decline from $3.8 million in 2023[36] - The company reported free cash flow of $(28.1) million for the year ended December 31, 2024, compared to $(12.6) million in 2023, indicating a worsening cash flow situation[40] User Metrics - Cardlytics MAUs in Q4 2024 were 167.3 million, a slight decrease of 0.4% compared to 168.0 million in Q4 2023[11] - Cardlytics ARPU for Q4 2024 was $0.44, a decrease of 16.7% compared to $0.53 in Q4 2023[11] - Monthly Active Users (MAUs) and Average Revenue Per User (ARPU) metrics were highlighted as key performance indicators, although specific figures were not disclosed[19][23] Guidance and Expectations - The company anticipates Q1 2025 Billings to be in the range of $91.5 - $94.5 million, representing a year-over-year decline of 10% to 13%[13] - Adjusted Contribution for Q1 2025 is expected to be between $30.0 - $32.5 million, a decrease of 14% to 19% year-over-year[13] - The company aims to deliver sequential improvements and positive Adjusted EBITDA in 2025[4] - For Q1 2025, Cardlytics provided guidance for revenue between $57.0 million and $60.0 million, with billings expected to be between $91.5 million and $94.5 million[43] Asset and Liability Changes - Total assets decreased from $574,144,000 in 2023 to $392,711,000 in 2024, reflecting a decline of approximately 31.6%[25] - Total liabilities decreased from $439,346,000 in 2023 to $322,718,000 in 2024, a reduction of approximately 26.5%[25] - Cash and cash equivalents decreased from $91,830,000 in 2023 to $65,594,000 in 2024, a decline of approximately 28.6%[25] - Cash, cash equivalents, and restricted cash decreased to $65.6 million at the end of 2024 from $91.8 million at the end of 2023, a decline of approximately 28.5%[31] - The net cash used in operating activities for the year ended December 31, 2024, was $(8.8) million, compared to $(0.2) million in 2023[31] Expenses and Impairments - Partner Share and other third-party costs for Q4 2024 were $33,285,000, down from $41,880,000 in Q4 2023, indicating a reduction of about 20.7%[27] - Stock-based compensation expense totaled $8,673,000 for Q4 2024, compared to $11,024,000 in Q4 2023, a decrease of approximately 21.4%[29] - The company reported a significant impairment of goodwill and intangible assets amounting to $131,595,000 for the year 2024[27] - The company incurred an impairment of goodwill and intangible assets amounting to $131.6 million for the year ended December 31, 2024, compared to $70.5 million in 2023[36] - The company reported stock-based compensation expense of $40.4 million for the year ended December 31, 2024, slightly down from $41.0 million in 2023[36] Consumer Incentives - Consumer incentives for the year ended December 31, 2024, increased to $165.5 million from $144.2 million in 2023, marking a growth of approximately 14.5%[33]

Core Viewpoint - A class action securities lawsuit has been filed against Cardlytics, Inc. for alleged securities fraud affecting investors between March 14, 2024, and August 7, 2024 [1][2]. Group 1: Allegations and Claims - The lawsuit claims that the defendants made false statements regarding consumer engagement and its impact on revenue, indicating that increased consumer engagement led to higher consumer incentives but did not result in proportional billings [2]. - It is alleged that there was a significant risk of slowing or declining revenue growth due to the inability to increase billings in line with consumer engagement [2]. - The changes to the Ads Decision Engine, which were intended to boost consumer engagement, resulted in "under-delivery" of budgets and customer billing estimates, misleading investors about the company's operational health [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until March 25, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, emphasizing that there is no financial obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the United States [4].