Cardlytics Inc

For the period ended Dec 31, 2023. Filed Mar 14, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 14, 2024

CDLX$1.63-10.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Operating activities
Net Loss	$(134,702)	$(465,264)	$(128,565)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Credit loss expense	1,704	2,399	1,702
Depreciation and amortization	26,460	37,544	29,871
Amortization of financing costs charged to interest expense	1,648	1,595	968
Amortization of right-of-use asset	3,055	6,196	5,783
Impairment of goodwill and intangible assets	70,518	453,288	—
Loss on divestiture	6,550	—	—
Accretion of debt discount and non-cash interest expense	—	—	9,513
Stock-based compensation expense	40,980	44,686	50,264
Change in fair value of contingent consideration	1,246	(128,174)	1,374
Other non-cash (income) expense, net	(4,170)	6,589	1,343
Deferred implementation costs	—	—	3,785
Income tax benefit	—	(1,446)	(7,864)
Change in operating assets and liabilities:
Accounts receivable and contracts assets, net	(7,725)	(4,546)	(27,936)
Prepaid expenses and other assets	2,492	535	(1,466)
Accounts payable	239	(893)	1,260
Other accrued expenses	(7,492)	(9,516)	(905)
Partner Share liability	405	1,721	9,139
Customer Incentive liability	(1,393)	1,382	13,211
Net cash used in operating activities	(185)	(53,904)	(38,523)
Investing activities
Acquisition of property and equipment	(667)	(1,171)	(3,108)
Acquisition of patents	—	(175)	(133)
Capitalized software development costs	(11,725)	(12,140)	(9,323)
Business acquisitions, net of cash acquired	—	(2,274)	(494,131)
Proceeds from divestitures, net of cash divested	2,330	—	—
Net cash used in investing activities	(10,062)	(15,760)	(506,695)
Financing activities
Proceeds from issuance of debt	30,000	—	—
Principal payments of debt	(31)	(35)	—
Proceeds from issuance of common stock	55	379	486,388
Settlement of contingent consideration	(50,050)	—	—
Repurchase of common stock	—	(40,000)	—
Deferred equity issuance costs	—	(157)	(190)
Debt issuance costs	—	(174)	(200)
Net cash (used in) received from financing activities	(20,026)	(39,987)	485,998
Effect of exchange rates on cash, cash equivalents and restricted cash	118	(1,926)	(567)
Net decrease in cash, cash equivalents and restricted cash	(30,155)	(111,577)	(59,787)
Cash, cash equivalents, and restricted cash — Beginning of period	121,985	233,562	293,349
Cash, cash equivalents, and restricted cash — End of period	$91,830	$121,985	$233,562

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023	2022	2021
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:
Cash and cash equivalents	$91,830	$121,905	$233,467
Restricted cash	—	80	95
Total cash, cash equivalents and restricted cash — End of period	$91,830	$121,985	$233,562
Supplemental schedule of non-cash investing and financing activities:
Cash paid for interest	$4,240	$2,381	$2,328
Amounts accrued for property and equipment	$579	$67	$267
Amounts accrued for capitalized software development costs	$40	$155	$253

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