Business
Cardlytics Announces First Quarter 2021 Financial Results
ATLANTA, May 04, 2021 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks' digital channels, today announced financial
About this update from Cardlytics, Inc. Common Stock
[{"type":"text","content":"ATLANTA, May 04, 2021 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), an advertising platform in banks' digital channels, today announced financial results for the first quarter ended March 31, 2021. Supplemental information is available on the Investor Relations section of the Cardlytics' website at http://ir.cardlytics.com/. “We had a strong start to the year with Q1 billings and revenue exceeding our expectations. Our results reflect a continued positive trajectory in our business,” said Lynne Laube, CEO & Co-Founder of Cardlytics. “The Dosh acquisition is already proving out our acquisition thesis and we believe the upcoming Bridg acquisition has the potential to be transformational given its technology and unique position in the CDP market.\" “We are extremely pleased with our results in Q1, which marked our return to year-over-year growth,” said Andy Christiansen, CFO of Cardlytics. “Our legacy business is strong and has a lot of momentum, and the acquisitions of Dosh and Bridg will not only sustain that momentum for years to come, but will also open up new avenues for future growth.” First Quarter 2021 Financial Results Revenue was $53.2 million, an increase of 17% year-over-year, compared to $45.5 million in the first quarter of 2020.Billings, a non-GAAP metric, was $76.3 million, an increase of 13% year-over-year, compared to $67.8 million in the first quarter of 2020.Gross profit was $19.5 million, an increase of 22% year-over-year, compared to $16.0 million in the first quarter of 2020.Adjusted contribution, a non-GAAP metric, was $24.3 million, an increase of 19% year-over-year, compared to $20.4 million in the first quarter of 2020.Net loss attributable to common stockholders was $(24.9) million, or $(0.85) per diluted share, based on 29.3 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(13.5) million, or $(0.51) per diluted share, based on 26.7 million weighted-average common shares outstanding in the first quarter of 2020.Non-GAAP net loss was $(9.9) million, or $(0.34) per diluted share, based on 29.3 million weighted-average common shares outstanding, compared to a non-GAAP net loss of $(7.0) million, or $(0.26) per diluted share, based on 26.7 million weighted-average common shares outstanding in the first quarter of 2020.Adjusted EBITDA, a...