Business
Cardlytics Announces First Quarter 2020 Financial Results
ATLANTA, May 11, 2020 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a purchase intelligence platform that makes marketing more relevant and measurable,
About this update from Cardlytics, Inc. Common Stock
[{"type":"text","content":"ATLANTA, May 11, 2020 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a purchase intelligence platform that makes marketing more relevant and measurable, today announced financial results for the first quarter ended March 31, 2020. Supplemental information is available on the Investor Relations section of the Cardlytics website at http://ir.cardlytics.com/.\n “We delivered solid first quarter results, with billings, revenue and adjusted contribution in the upper half of our prior guidance,” said Scott Grimes, CEO & Co-Founder of Cardlytics. “Our team remains positive about the future and, despite the difficult nature of the COVID-19 crisis for our advertising partners, we have seen encouraging signs in our business.” “Our key long term priorities of increasing the number of marketers working with us, bringing our solution to new industries, evolving the Cardlytics platform, and continuing to demonstrate operating leverage in our business still remain,” said Lynne Laube, COO & Co-Founder of Cardlytics. “With our clients facing severe swings in spend - both up and down - the value of our purchase intelligence and our ability to reach the right consumers with cash-back rewards is more important than it has ever been.” First Quarter 2020 Financial Results Revenue was $45.5 million, an increase of 26% year-over-year, compared to $36.0 million in the first quarter of 2019.Billings, a non-GAAP metric, was $67.8 million, an increase of 16% year-over-year, compared to $58.6 million in the first quarter of 2019.Gross profit was $16.0 million, an increase of 16% year-over-year, compared to $13.7 million in the first quarter of 2019.Adjusted contribution, a non-GAAP metric, was $20.4 million, an increase of 16% year-over-year, compared to $17.6 million in the first quarter of 2019.Net loss attributable to common stockholders was $(13.5) million, or $(0.51) per diluted share, based on 26.7 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(6.3) million, or $(0.28) per diluted share, based on 22.5 million weighted-average common shares outstanding in the first quarter of 2019.Non-GAAP net loss was $(7.0) million, or $(0.26) per diluted share, based on 26.7 million weighted-average common shares outstanding, compared to a non-GAAP net loss of $(5.1) million, or $(0.23) per d...