Cardlytics Stock Price, News & Analysis

Cardlytics (NASDAQ: CDLX) reported a 7% increase in overall consumer spending in Q1 2022 compared to the previous year, reaching the highest levels in four years despite inflation concerns. Notable growth was seen in travel and entertainment spending (54%), including airlines (99%) and cruise lines (345%). However, retail spending showed signs of slowing, with no growth in 2022 versus 2021. The Chief Business Officer emphasized the need for brands to optimize marketing strategies to maximize return on ad spend amidst ongoing economic challenges.

Cardlytics (NASDAQ: CDLX) has announced a repurchase program for up to $40 million of its Common Stock, approved by the Board of Directors. The CFO stated that this initiative represents a strategic investment aimed at enhancing shareholder value. The buyback will occur on the open market or through negotiated transactions and is expected to continue until the end of the fiscal year, subject to Board discretion. This move signals confidence in the company's market position and underscores its commitment to returning value to shareholders.

Cardlytics, Inc. (NASDAQ: CDLX) reported a strong first quarter for 2022, achieving record revenue of $67.9 million, reflecting a 28% year-over-year increase. Billings reached $98.2 million, up 29% from Q1 2021. Gross profit also rose 34% to $26.2 million, while adjusted contribution increased 35% year-over-year to $32.8 million. The company reported a net income of $33.0 million or $0.91 per diluted share, a significant turnaround from a net loss in the previous year. Monthly Active Users (MAUs) grew to 178.5 million, a 6% increase from last year.

Cardlytics (NASDAQ: CDLX) has appointed Jose Singer as Chief Product Officer, effective May 16, 2022. He succeeds Michael Akkerman and will spearhead the company’s product strategy, focusing on enhancing its advertising platform. Singer brings extensive experience from his tenure at Nextdoor and Yahoo, aiming to integrate product and engineering functions for better performance. His leadership is expected to align with Cardlytics’ migration to AWS and the launch of new platform capabilities, crucial for expanding advertiser adoption and improving user interfaces.

Cardlytics, an advertising platform focused on banks’ digital channels, will release its first quarter financial results for 2022 on May 2, after market close. The company will conduct a conference call and webcast at 5:00 PM ET to discuss the results. Investors can access a live audio stream on the Cardlytics Investor Relations website, and a replay will be available shortly after the call until May 9, 2022. As a key player in digital advertising, Cardlytics partners with financial institutions to enhance customer loyalty and analyze consumer spending.

Kora, a fintech serving college students, has launched the Kora Rewards program in partnership with Cardlytics. Users can earn up to 10% cash back when shopping with the KoraCard at various brands. This feature aims to enhance financial management for students, who have limited options for financial rewards. The Kora app also includes KoraCoach for financial education and KoraCash for flexible financing between $25 and $2000. This initiative aligns with Kora's mission to improve financial literacy among students.

Crypto.com has partnered with Cardlytics to enhance its Visa Card rewards program for U.S. cardholders, allowing them to earn up to 10% cash back in addition to existing rewards. The automatic enrollment process enables cardholders to access rewards from popular retailers like Adidas, Costco, and Shake Shack. This initiative aims to drive cryptocurrency adoption by providing users with tangible benefits for everyday purchases. Over 10 million customers currently use Crypto.com, reflecting the platform's rapid growth.

Next Coast Ventures has successfully raised $310 million across three funds, boosting its total assets under management to over $520 million in just six years. This Austin-based venture capital firm targets entrepreneurs in Texas and other emerging tech hubs. Since 2016, it has achieved multiple successful exits, including significant investments in companies like LivePerson (LPSN) and Radiant Logistics (RLGT). The funds will primarily support early-stage tech businesses, with a strong emphasis on operational expertise from its experienced team.

Cardlytics reported strong Q4 2021 results, with total revenue of $90.0 million, a 34.2% increase year-over-year. Billings reached $134.0 million, up 42.6%, marking the highest billings quarter ever. However, the net loss attributable to common stockholders widened to $(11.8) million, or $(0.35) per share. For the full year, total revenue was $267.1 million, up 42.9%, with an annual net loss of $(128.6) million. Despite the losses, the company expects broad recovery and growth exceeding 30% in the long term.