Business
Cardlytics Announces Fourth Quarter and Fiscal Year 2022 Financial Results
ATLANTA, March 01, 2023 (GLOBE NEWSWIRE) -- Cardlytics, Inc., (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the fourth
About this update from Cardlytics, Inc. Common Stock
[{"type":"text","content":"ATLANTA, March 01, 2023 (GLOBE NEWSWIRE) -- Cardlytics, Inc., (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the fourth quarter and fiscal year ended December 31, 2022. Supplemental information is available on the Investor Relations section of the Cardlytics' website at http://ir.cardlytics.com/. “We see a path to modest growth for 2023, especially after we lap the exit of a large customer from our channel in the second half of the year. We believe our numerous product initiatives that we are putting into place are setting us up for short and long-term success,” said Karim Temsamani, CEO of Cardlytics. “We remain laser focused on driving product innovation and solutions for our partners and advertisers, and are excited about the expanded reach, revenue opportunities and efficiency this focus will create.\" “Our fourth quarter performance was in line with our quarterly guidance ranges, and despite macro-related headwinds impacting consumer spending and ad budgets, we delivered double-digit year-over-year growth in 2022,” said Andy Christiansen, CFO of Cardlytics. “We know our success is dependent on executing with a disciplined approach, and I am confident that our strategy and priorities are positioning the company for liquidity, long-term growth, and profitability.” Fourth Quarter 2022 Financial Results Total revenue was $82.5 million, a decrease of (8.4)%, compared to $90.0 million in the fourth quarter of 2021.Net loss attributable to common stockholders was $(378.3) million, or $(11.32) per diluted share, based on 33.4 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(11.8) million, or $(0.35) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2021.Non-GAAP net loss was $(9.7) million, or $(0.29) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2022, compared to a non-GAAP net loss of $(5.0) million, or $(0.15) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2021.Billings, a non-GAAP metric, was $126.1 million, a decrease of (5.9)%, compared to $134.0 million in the fourth quarter of 2021.Adjusted contribution, a non-GAAP metric, was $40.0 millio...