CDLX

EX-99.1

2 cdlx_form8-kx2026q3xex991.htm

EX-99.1

Document

Exhibit 99.1

Cardlytics Reports Third Quarter 2026 Financial Results and Provides Fourth Quarter Outlook

◦Revenues of $32.9 million

◦Billings of $57.2 million

◦Adjusted Contribution of $19.4 million

◦Net Loss of $(8.9) million and Adjusted EBITDA, a non-GAAP metric, was $0.4 million

Atlanta, GA – November 5, 2026 – Cardlytics, Inc. (NASDAQ: CDLX), a purchase intelligence platform, today announced financial results for the third quarter ended September 30, 2026.

"Our third quarter results came in below expectations,” said Amit Gupta, CEO of Cardlytics. “However, we remain encouraged by the progress towards our priorities. We are building supply by adding new CRP partners and continuing to grow our advertising base."

"We are running a leaner business, with lower costs, and a higher contribution margin,” said David Evans, CFO of Cardlytics. “We expect sequential growth in the fourth quarter as we work toward self-sustainability."

Third Quarter 2026 Financial Results

•Revenue was $32.9 million, a decrease of 30% year-over-year compared to $47.0 million in the third quarter of 2025.

•Billings, a non-GAAP metric, was $57.2 million, a decrease of 32% year-over-year compared to $84.1 million in the third quarter of 2025.

•Adjusted Contribution, a non-GAAP metric, was $19.4 million, a decrease of 24% year-over-year compared to $25.6 million in the third quarter of 2025.

•Net Loss was $(8.9) million in the third quarter of 2026, compared to $(72.7) million in the third quarter of 2025.

•Adjusted EBITDA, a non-GAAP metric, was $0.4 million compared to $3.3 million in the third quarter of 2025.

•Net Loss per share from continuing operations was $(1.26) per share, on a GAAP basis, compared to $(13.14) per share, in the third quarter of 2025. Adjusted Net Loss per share, on a Non-GAAP basis, was $(1.03) per share compared to $(0.58) per share in the third quarter of 2025.

•Net cash (used in) provided by operating activities was $(5.9) million, compared to $1.8 million in the third quarter of 2025.

•Free Cash Flow, a non-GAAP metric, was $(1.6) million, compared to $(2.7) million in the third quarter of 2025.

Key Metrics

•Cardlytics monthly qualified users ("MQUs") were 186.6 million, a decrease of 19% year-over-year, compared to 230.3 million in the third quarter of 2025.

•Cardlytics adjusted contribution per user ("ACPU") was $0.10 compared to $0.11 in the third quarter of 2025.

Definitions of MQUs and ACPU are included below under the caption “Other Performance Metrics."

CARDLYTICS, INC.

SUMMARY OF GAAP AND NON-GAAP RESULTS (UNAUDITED)

(Dollars in thousands)

Three Months Ended September 30,

20262025Change %

Billings(1)(2) $57,224 $84,124 (32)%

Consumer Incentives(2) 24,342 37,162 (34)%

Revenue(2) 32,882 46,962 (30)%

Partner Share and other third-party costs(2)

13,485 21,397 (37)%

Adjusted Contribution(1)(2) 19,397 25,565 (24)%

Delivery costs(2) 3,155 4,136 (24)%

Gross Profit(2) $16,242 $21,429 (24)%

Net Loss$(8,947)$(72,673)88 %

Adjusted EBITDA(1)(2) $386 $3,339 (88)%

Adjusted Contribution

% of Billings33.9 %30.4 %

% of Revenue59.0 %54.4 %

Adjusted EBITDA

% of Billings0.7 %4.0 %

% of Revenue1.2 %7.1 %

(1)Billings, Adjusted Contribution and Adjusted EBITDA are non-GAAP measures. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA."

(2)Revenues, Consumer Incentives, Billings, Gross Profit, Adjusted Contribution, and Adjusted EBITDA reflect the effects of disposed businesses through the respective disposal dates. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA."

Fourth Quarter 2026 Financial Expectations

Cardlytics anticipates Billings, Revenue, Adjusted Contribution and Adjusted EBITDA to be in the following ranges (in millions, except for percentage change rates):

Q4 2026 GuidanceYoY Change

Billings(1) $63.0 - $69.0(29%) - (22%)

Revenue$35.0 - $39.0(31%) - (23%)

Adjusted Contribution(2) $20.0 - $23.0(26%) - (15%)

Adjusted EBITDA(2) ($1.0) - $2.0($10.2) - ($7.2)

(1)A reconciliation of Billings to GAAP Revenue on a forward-looking basis is presented below under the heading "Reconciliation of Forecasted GAAP Revenue to Billings."

(2)A reconciliation of Adjusted Contribution to GAAP Gross Profit and a reconciliation of Adjusted EBITDA to Net Loss on a forward-looking basis is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the items excluded from this non-GAAP measure.

Earnings Teleconf

EX-99.1

2 cdlx_form8-kx2026q2xex991.htm

EX-99.1

Document

Exhibit 99.1

Cardlytics Second Quarter 2026 Financial Results Driven By Strong Operational Performance

•Company delivers strong second quarter results:

◦Revenues of $36.9 million

◦Billings of $65.5 million

◦Adjusted Contribution of $21.3 million

◦Net Loss of $(14.9) million and Adjusted EBITDA, a non-GAAP metric, was $1.7 million

Atlanta, GA – August 5, 2026 – Cardlytics, Inc. (NASDAQ: CDLX), a purchase intelligence platform, today announced financial results for the second quarter ended June 30, 2026.

"The second quarter shows that our execution is translating directly into results. We were within our guidance across all key metrics, with margins improving every single month of the quarter,” said Amit Gupta, CEO of Cardlytics. “We added new advertiser relationships and deepened our partnerships with existing financial institutions this quarter, reinforcing that purchase intelligence remains our core competitive advantage. We have a clear and focused path to build long-term value for our shareholders."

"We continue to execute against our game plan for sequential growth and self-sustainability,” said David Evans, CFO of Cardlytics. “Our second quarter results were strong which shows our plan is working."

Second Quarter 2026 Financial Results

•Revenue was $36.9 million, a decrease of 36% year-over-year compared to $58.0 million in the second quarter of 2025.

•Billings, a non-GAAP metric, was $65.5 million, a decrease of 34% year-over-year compared to $98.8 million in the second quarter of 2025.

•Adjusted Contribution, a non-GAAP metric, was $21.3 million, a decrease of 32% year-over-year compared to $31.3 million in the second quarter of 2025.

•Net Loss was $(14.9) million in the second quarter of 2026, compared to $(9.3) million in the second quarter of 2025.

•Adjusted EBITDA, a non-GAAP metric, was $1.7 million compared to $3.0 million in the second quarter of 2025.

•Net Loss per share from continuing operations was $(1.50) per share, on a GAAP basis, compared to $(1.15) per share, in the prior year period. Adjusted Net Loss per share, on a Non-GAAP basis, was $(0.81) per share compared to $(0.60) per share in the prior year period.

•Net cash (used in) provided by operating activities was $(8.6) million, compared to $1.2 million in the second quarter of 2025.

•Free Cash Flow, a non-GAAP metric, was $(10.7) million, compared to $(3.4) million in the second quarter of 2025.

Key Metrics

•Cardlytics monthly qualified users ("MQUs") were 185.4 million, a decrease of 17% year-over-year, compared to 224.5 million in the second quarter of 2025.

•Cardlytics adjusted contribution per user ("ACPU") was $0.11 compared to $0.14 in the second quarter of 2025.

Definitions of MQUs and ACPU are included below under the caption “Other Performance Metrics."

CARDLYTICS, INC.

SUMMARY OF GAAP AND NON-GAAP RESULTS (UNAUDITED)

(Dollars in thousands)

Three Months Ended June 30,

20262025Change %

Billings(1)(2) $65,469 $98,840 (34)%

Consumer Incentives(2) 28,587 40,799 (30)%

Revenue(2) 36,882 58,041 (36)%

Partner Share and other third-party costs(2)

15,614 26,721 (42)%

Adjusted Contribution(1)(2) 21,268 31,320 (32)%

Delivery costs(2) 2,648 5,356 (51)%

Gross Profit(2) $18,620 $25,964 (28)%

Net Loss$(14,876)$(9,283)(60)%

Adjusted EBITDA(1)(2) $1,702 $2,996 (43)%

Adjusted Contribution

% of Billings32.5 %31.7 %

% of Revenue57.7 %54.0 %

Adjusted EBITDA

% of Billings2.6 %3.0 %

% of Revenue4.6 %5.2 %

(1)Billings, Adjusted Contribution and Adjusted EBITDA are non-GAAP measures. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA."

(2)Revenues, Consumer Incentives, Billings, Gross Profit, Adjusted Contribution, and Adjusted EBITDA reflect the effects of disposed businesses through the respective disposal dates. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA."

Third Quarter 2026 Financial Expectations

Cardlytics anticipates Billings, Revenue, Adjusted Contribution and Adjusted EBITDA to be in the following ranges (in millions, except for percentage change rates):

Q3 2026 GuidanceYoY Change

Billings(1) $61.0 - $67.0(27%) - (20%)

Revenue$34.0 - $39.0(27%) - (17%)

Adjusted Contribution(2) $20.0 - $23.0(22%) - (10%)

Adjusted EBITDA(2) $0 - $3.0($3.4) - ($0.4)

(1)A reconciliation of Billings to GAAP Revenue on a forward-looking basis is presented below under the heading "Reconciliation of Forecasted GAAP Revenue to Billings."

(2)A reconciliation of Adjusted Contribution to GAAP

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