Cardlytics(US:CDLX)2025-11-05 21:07Revenue and Billings - Revenue for Q3 2025 was $52.0 million, a decrease of 22% year-over-year from $67.1 million in Q3 2024[5] - Billings for Q3 2025 were $89.2 million, down 20% year-over-year compared to $112.0 million in Q3 2024[5] - Revenue for Q3 2025 was $52,031,000, a decrease of 22.4% compared to $67,057,000 in Q3 2024[22] - Billings for Q3 2025 were $89,193,000, down from $111,958,000 in Q3 2024, a decline of 20.4%[27] - Forecasted revenue for Q4 2025 is projected to be between $51.1 million and $59.1 million[37] - Total billings for Q4 2025 are expected to range from $86.0 million to $96.0 million, including consumer incentives of $26.9 million to $44.9 million[37] Net Loss and Financial Performance - Net Loss for Q3 2025 was $(72.7) million, or $(1.36) per diluted share, compared to a Net Loss of $(145.2) million, or $(2.90) per diluted share in Q3 2024[5] - Net loss for Q3 2025 was $72,673,000, compared to a net loss of $145,182,000 in Q3 2024, indicating an improvement of 50.0%[22] - Net loss for Q3 2025 was $(72.673) million, compared to a net loss of $(145.182) million in Q3 2024, showing an improvement of approximately 50%[30] Adjusted Metrics - Adjusted Contribution for Q3 2025 was $30.0 million, a decrease of 17% year-over-year from $36.4 million in Q3 2024[5] - Adjusted EBITDA for Q3 2025 was $3.2 million, compared to $(1.8) million in Q3 2024[5] - Adjusted EBITDA for Q3 2025 was $3.204 million, a significant recovery from an adjusted EBITDA of $(1.816) million in Q3 2024[30] - Adjusted Contribution for Q4 2025 is expected to be between $29.0 - $35.0 million, a year-over-year decline of 29% to 14%[8] Cash Flow and Expenses - Free Cash Flow for Q3 2025 was $(2.7) million, an improvement from $(3.9) million in Q3 2024[5] - Free cash flow for Q3 2025 was $(2.703) million, an improvement from $(3.869) million in Q3 2024[35] - The company reported stock-based compensation expense of $6,422,000 for Q3 2025, compared to $8,065,000 in Q3 2024, a decrease of 20.4%[24] - Stock-based compensation expense for Q3 2025 was $6.422 million, down from $8.065 million in Q3 2024[33] Assets and Liabilities - Cash and cash equivalents decreased to $43,961,000 as of September 30, 2025, from $65,594,000 at the end of 2024, a decline of 32.9%[25] - Total assets as of September 30, 2025, were $292,807,000, down from $392,711,000 at the end of 2024, a decrease of 25.5%[21] - Total liabilities decreased to $297,511,000 as of September 30, 2025, from $322,718,000 at the end of 2024, a reduction of 7.8%[21] - Stockholders' equity showed a deficit of $4,704,000 as of September 30, 2025, compared to a positive equity of $69,993,000 at the end of 2024[21] User Metrics - Cardlytics monthly qualified users (MQUs) reached 230.3 million, an increase of 21% year-over-year from 190.2 million in Q3 2024[5] Impairment and Costs - The company incurred impairment of goodwill and intangible assets amounting to $58,843,000 in Q3 2025, consistent with the previous year's figure of $131,595,000[22] - Impairment of goodwill and intangible assets for Q3 2025 was $58.843 million, consistent with the impairment recorded in Q3 2024[33] - Total costs and expenses for Q3 2025 were $120,885,000, down from $215,603,000 in Q3 2024, reflecting a reduction of 44.0%[22] Gross Profit - Gross profit for Q3 2025 was $24.300 million, down from $28.552 million in Q3 2024, reflecting a decrease of about 14.5%[28] Share Metrics - The weighted-average number of diluted shares outstanding increased to 53.493 million in Q3 2025 from 50.028 million in Q3 2024[33]