Business
Cardlytics Announces Fourth Quarter and Full Year 2023 Financial Results
ATLANTA, March 14, 2024 (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 14, 2024 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the fourth quarter and full year ended December 31, 2023. Supplemental information is available on the Investor Relations section of the Cardlytics website at http://ir.cardlytics.com/. \"The fourth quarter capped a transformational year for Cardlytics,\" said Karim Temsamani, CEO of Cardlytics. \"With our cost structure rebalanced, we can now focus on building a best-in-class platform with top-tier targeting and a differentiated user experience that will help deliver the best outcomes for our partners, their customers and our advertisers.\" \"Achieving growth and improving our capital structure are our top priorities,\" said Alexis DeSieno, CFO of Cardlytics. \"In 2023, we turned to full year positive Adjusted EBITDA for the first time since 2019, and our Q1 guidance implies further acceleration. We are on a path to double-digit billings growth in 2024 and positive operating cash flow on an annual basis.\" Fourth Quarter 2023 Financial Results Total Revenue was $89.2 million, an increase of 8.1% compared to $82.5 million in the fourth quarter of 2022.Billings, a non-GAAP metric, was $131.9 million, an increase of 4.6% compared to $126.1 million in the fourth quarter of 2022.Adjusted Contribution, a non-GAAP metric, was $47.3 million, an increase of $7.3 million compared to $40.0 million in the fourth quarter of 2022.Net Loss attributable to common stockholders was $(100.8) million, or $(2.56) per diluted share, based on 39.5 million weighted-average common shares outstanding, compared to a Net Loss attributable to common stockholders of $(378.3) million, or $(11.32) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2022.Adjusted EBITDA, a non-GAAP metric, was $10.0 million, an increase of $16.1 million compared to $(6.1) million in the fourth quarter of 2022.Adjusted Net Income (Loss), a non-GAAP metric, was $5.7 million, or $0.14 per diluted share, based on 39.5 million weighted-average common shares outstanding in the fourth quarter of 2023, compared to a Adjusted Net Loss of $(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.Net cash ...