Cardlytics Announces Second Quarter 2022 Financial Results

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[{"type":"text","content":"ATLANTA, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the second quarter ended June 30, 2022. Supplemental information is available on the Investor Relations section of Cardlytics' website at http://ir.cardlytics.com/. “I am pleased with our growth in the first half of the year despite the growing pressure macro conditions are having on consumer spending and ad budgets,” said Lynne Laube, CEO & Co-Founder of Cardlytics. “We are also pleased with the progress we are seeing in the Bridg acquisition and expect to see further proof points in future quarters. The combination of the Cardlytics and Bridg data sets has us on the cusp of being able to scale the business beyond our core platform, while our focus on financial goals will allow us to control our own destiny moving forward.” “We are committed to meeting our adjusted EBITDA and free cash flow goals in 2023, and we’re taking several proactive steps to reduce our cost structure in recognition of the lower-growth environment we are entering,” said Andy Christiansen, CFO of Cardlytics. “We expect year-over-year growth of approximately 10 to 15% in the back half of 2022, and I believe we can navigate a lower growth environment with minimal impact on the long-term prospects of the business.” Second Quarter 2022 Financial Results Revenue was $75.4 million, an increase of 28% year-over-year, compared to $58.9 million in the second quarter of 2021.Billings, a non-GAAP metric, was $107.7 million, an increase of 26% year-over-year, compared to $85.3 million in the second quarter of 2021.Gross profit was $27.0 million, an increase of 16% year-over-year, compared to $23.2 million in the second quarter of 2021.Adjusted contribution, a non-GAAP metric, was $35.1 million, an increase of 19% year-over-year, compared to $29.6 million in the second quarter of 2021.Net loss attributable to common stockholders was $(126.3) million, or $(3.75) per diluted share, based on 33.6 million fully diluted weighted-average common shares, compared to a net loss attributable to common stockholders of $(47.3) million, or $(1.43) per diluted share, based on 33.0 million fully diluted weighted-average common shares in the second quarter of 2021.Non-GAAP net loss was $(21.7) million, or $(0.65) per diluted share, based on ...

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