Cardlytics Announces Second Quarter 2023 Financial Results

About this update from Cardlytics, Inc. Common Stock

[{"type":"text","content":"ATLANTA, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the second quarter ended June 30, 2023. Supplemental information is available on the Investor Relations section of Cardlytics' website at http://ir.cardlytics.com/. \"Our results this quarter are a great sign that our strategy and priorities are moving the company towards achieving consistent growth and profitability.\" said Karim Temsamani, Chief Executive Officer. \"We are moving forward with a disciplined approach and the organizational changes we are making continue to give our teams room to operate with speed and a clear focus.\" Second Quarter 2023 Financial Results Revenue was $76.7 million, an increase of 2% year-over-year, compared to $75.4 million in the second quarter of 2022.Billings, a non-GAAP metric, was $109.4 million, an increase of 2% year-over-year, compared to $107.7 million in the second quarter of 2022.Gross profit was $30.5 million, an increase of 13% year-over-year, compared to $27.0 million in the second quarter of 2022.Adjusted contribution, a non-GAAP metric, was $37.5 million, an increase of 7% year-over-year, compared to $35.1 million in the second quarter of 2022.Net loss attributable to common stockholders was $(23.5) million, or $(0.67) per diluted share, based on 34.9 million fully diluted weighted-average common shares, compared to a net loss attributable to common stockholders of $(126.3) million, or $(3.75) per diluted share, based on 33.6 million fully diluted weighted-average common shares in the second quarter of 2022.Non-GAAP net loss was $(8.4) million, or $(0.24) per diluted share, based on 34.9 million fully diluted weighted-average common shares, compared to non-GAAP net loss of $(21.7) million, or $(0.65) per diluted share, based on 33.6 million fully diluted weighted-average common shares in the second quarter of 2022.Adjusted EBITDA, a non-GAAP metric, was a loss of $(4.1) million compared to a loss of $(15.8) million in the second quarter of 2022. Key Metrics Cardlytics MAUs were 188.1 million, an increase of 5% year-over-year, compared to 179.9 million in the second quarter of 2022.Cardlytics ARPU was $0.38 in each of the second quarter of 2023 and 2022. Definitions of MAUs, ARPU and ARR are included below under the caption “Non-GAAP Mea...

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