Cardlytics Announces Third Quarter 2021 Financial Results

About this update from Cardlytics, Inc. Common Stock

[{"type":"text","content":"ATLANTA, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Cardlytics, Inc. (NASDAQ: CDLX), a digital advertising platform, today announced financial results for the third quarter ended September 30, 2021. Supplemental information is available on the Investor Relations section of Cardlytics' website at http://ir.cardlytics.com/. “We had a solid quarter and delivered results above our guidance,” said Lynne Laube, CEO & Co-Founder of Cardlytics. “Execution remains our primary focus, and we have the team and resources to achieve our financial goals, be a strategic partner for our banks and continue our progress on our product and technology initiatives.” “We saw the core business strengthen through the quarter as we achieved sequential billings growth each month,” said Andy Christiansen, CFO of Cardlytics. “We remain focused on the things we can control — developing and maintaining strong relationships with all of our partners and developing a technology platform that will unlock the massive potential of our channel.” Third Quarter 2021 Financial Results Revenue was $65.0 million, an increase of 41% year-over-year, compared to $46.1 million in the third quarter of 2020.Billings, a non-GAAP metric, was $98.4 million, an increase of 59% year-over-year, compared to $62.1 million in the third quarter of 2020.Gross profit was $24.5 million, an increase of 68% year-over-year, compared to $14.6 million in the third quarter of 2020.Adjusted contribution, a non-GAAP metric, was $31.6 million, an increase of 60% year-over-year, compared to $19.7 million in the third quarter of 2020.Net loss attributable to common stockholders was $(44.5) million, or $(1.35) per diluted share, based on 33.1 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(15.4) million, or $(0.56) per diluted share, based on 27.3 million weighted-average common shares outstanding in the third quarter of 2020.Non-GAAP net loss was $(11.0) million, or $(0.33) per diluted share, based on 33.1 million weighted-average common shares outstanding, compared to a non-GAAP net loss of $(4.5) million, or $(0.16) per diluted share, based on 27.3 million weighted-average common shares outstanding in the third quarter of 2020.Adjusted EBITDA, a non-GAAP metric, was a loss of $(5.2) million compared to a loss of $(0.6) million in the third ...

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