Welcome to our dedicated page for Cardlytics news (Ticker: CDLX), a resource for investors and traders seeking the latest updates and insights on Cardlytics stock.
Cardlytics, Inc. (NASDAQ: CDLX) is a cutting-edge digital advertising platform that leverages purchase-based intelligence to enhance marketing relevance and measurability. Headquartered in Atlanta, GA, Cardlytics partners with over 2,000 financial institutions to operate their banking rewards programs, thereby fostering customer loyalty and strengthening banking relationships. This collaboration grants Cardlytics a secure view into consumer spending patterns, enabling the company to provide invaluable insights to marketers. These insights help in identifying, reaching, and influencing potential buyers at scale, and measuring the true sales impact of marketing campaigns.
Cardlytics operates through two main segments: the Cardlytics platform in the U.S. and U.K., and the Bridg platform. The Cardlytics platform generates significant revenue by offering a proprietary native bank advertising channel, allowing marketers to reach consumers via trusted and frequently accessed online and mobile banking channels. The Bridg platform, on the other hand, provides revenue through the sale of subscriptions to its cloud-based customer-data platform and the delivery of professional services such as implementation, onboarding, and technical support.
Recent achievements include a settlement agreement with SRS, resolving all disputes related to the Bridg merger agreement. This settlement will see Cardlytics paying $25 million in cash and issuing 3.6 million shares of common stock. Additionally, preliminary financial results for Q4 2023 suggest that the company is on track to meet or exceed its previous guidance, indicating sustained profitability and the potential to extend the maturity date of its credit facility to April 2025.
Cardlytics also announced the integration of Giant Eagle’s Leap Media Group into the Rippl data and media network, a partnership that significantly enhances first-party data for regional retailers and provides advertisers with access to more than 70 million anonymized shopper profiles. This integration is expected to drive enhanced shopper engagement, top-line growth, and improved ROI for all ecosystem partners.
Cardlytics continues to focus on cost discipline, efficiency, and building a best-in-class platform with top-tier targeting capabilities. With offices in New York City, London, San Francisco, Chicago, Menlo Park, and Los Angeles, the company is well-positioned to deliver superior outcomes for partners, customers, and advertisers.
Cardlytics (NASDAQ: CDLX) has appointed Amit Gupta as Chief Operating Officer, effective January 23, 2023. Gupta will oversee overall operations and strategy, aligning with sales and engineering teams to enhance the platform's offerings. He also takes the role of general manager at Bridg, working closely with current CEO Amit Jain during a transition period. Gupta brings significant experience from Stripe and Google, particularly in strategy and operations related to digital advertising and financial technology. His appointment is expected to drive operational excellence and growth for the company.
Cardlytics (NASDAQ: CDLX) announced the grant of 350,000 restricted stock units to new Chief Operating Officer, Amit Gupta, as a part of its 2022 Inducement Plan. This grant is a material inducement for Gupta’s employment and adheres to Nasdaq Listing Rule 5635(c)(4). The vesting schedule includes 50% on the first anniversary and the remaining 50% quarterly over the subsequent year, contingent on Gupta's ongoing service. Cardlytics operates as a digital advertising platform leveraging banking data to enhance customer loyalty and marketer engagement.
Cardlytics (NASDAQ: CDLX), a digital advertising platform, will present at the 2022 Raymond James Technology Investors Conference on December 7 at 9:45 a.m. EST. The presentation, led by CEO Karim Temsamani, will be available via live webcast on the company's Investor Relations website. Cardlytics partners with financial institutions to enhance customer loyalty through rewards programs, leveraging consumer spending insights to assist marketers in reaching potential buyers effectively. For further details, visit http://ir.cardlytics.com/.
Cardlytics reported strong Q3 2022 results with revenue of $72.7 million, a 12% increase year-over-year. Billings also rose by 12% to $110.4 million. Gross profit reached $26.0 million, marking a 6% increase. The company turned a net income of $6.3 million, or $0.19 per diluted share, compared to a loss of $(44.5) million in the prior year. MAUs grew to 184.7 million, up 8%. For Q4, Cardlytics expects revenue between $80.0 - $90.0 million and billings of $120.0 - $132.0 million.
Cardlytics (NASDAQ: CDLX) announced it will release its third quarter financial results on November 1, 2022, after market close. A conference call will be held at 5:00 PM ET to discuss the results. The event will be available via a live audio webcast on the Cardlytics Investor Relations website. The company partners with financial institutions to enhance customer loyalty through advertising insights.
On September 1, 2022, Cardlytics (NASDAQ: CDLX) announced the grant of 1,345,261 restricted stock units to its new CEO, Karim Temsamani, as part of his employment inducement. This grant, valued at $20 million, was calculated based on a 30-day average stock price of $14.87. The restricted stock units will vest over four years, with 25% vesting after one year and the remainder quarterly over the next three years, contingent upon Mr. Temsamani's continued employment.
BitPay has launched a rewards program for its prepaid card, managed by Cardlytics, enabling cardholders to earn up to 15% cash back on purchases at participating retailers. The program is automatically available to users, and no additional sign-up is required. BitPay supports multiple cryptocurrencies, facilitating easy conversion to USD for spending. A study indicates a potential $55 billion in cryptocurrency purchases over the next year, highlighting growing interest in crypto transactions. Cardholders also benefit from a referral bonus of $10 for bringing in new users.
Cardlytics, Inc. (NASDAQ: CDLX) reported Q2 2022 financial results with revenue of $75.4 million, a 28% increase year-over-year. Billings rose 26% to $107.7 million, while gross profit grew 16% to $27.0 million. The company posted a net loss of $(126.3) million, up from $(47.3) million in Q2 2021. Adjusted EBITDA loss widened to $(15.8) million. The acquisition of Bridg is progressing, expected to enhance growth. Cardlytics anticipates a 10-15% revenue increase in H2 2022 despite economic pressures.
Cardlytics (NASDAQ: CDLX) released its annual back-to-school (BTS) trend analysis, highlighting consumer behavior shifts as inflation rises. The analysis found that omnichannel shopping boosts consumer spending, with multichannel shoppers spending over $1,000 compared to $900 for single-channel shoppers. However, overall spending showed only a 1.2% increase between 2020 and 2021 due to declining customer volume. Early 2022 insights reveal an 8.4% year-over-year spending decline as economic uncertainty prevails, suggesting consumers may focus on essentials and one-stop shopping.
Cardlytics has appointed Karim Temsamani as the new CEO, effective September 1, 2022, succeeding co-founder Lynne Laube, who is retiring. Laube will stay on as a strategic advisor until May 2024 to aid in the transition. Temsamani joins from Stripe, where he led partnerships, and has significant experience from Google. The company also updated its Q2 2022 guidance for billings ($106.5 - $108.5 million), revenue ($74.5 - $76.5 million), and adjusted contribution ($34.0 - $36.0 million), reflecting optimistic growth potential.
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