Cardlytics, Inc.
For the period ended Dec 31, 2025. Filed Mar 4, 2026.
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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.
FY2025 · Filed Mar 4, 2026
CDLX$1.63-10.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net Loss | $(103,488) | $(189,304) | $(134,702) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Credit loss expense | 2,134 | 6,106 | 1,704 |
| Depreciation and amortization | 25,244 | 25,689 | 26,460 |
| Amortization of financing costs charged to interest expense | 1,522 | 1,633 | 1,648 |
| Amortization of right-of-use asset | 2,165 | 2,187 | 3,055 |
| Impairment of goodwill and intangible assets | 58,843 | 131,595 | 70,518 |
| (Gain) loss on divestiture | (4,831) | — | 6,550 |
| Gain on debt extinguishment | — | (13,017) | — |
| Stock-based compensation expense | 28,129 | 40,367 | 40,980 |
| Change in contingent consideration | 102 | 210 | 1,246 |
| Other non-cash expense (income), net | (6,243) | 1,481 | (4,170) |
| Change in operating assets and liabilities: | |||
| Accounts receivable and contracts assets, net | 20,643 | 12,497 | (7,725) |
| Prepaid expenses and other assets | 1,803 | 1,360 | 2,492 |
| Accounts payable | 179 | 499 | 239 |
| Other accrued expenses | (724) | (6,644) | (7,492) |
| Partner Share liability | (8,208) | (16,350) | 405 |
| Customer Incentive liability | (7,980) | (7,133) | (1,393) |
| Net cash provided by (used in) operating activities | 9,290 | (8,824) | (185) |
| Investing activities | |||
| Acquisition of property and equipment | (480) | (1,562) | (667) |
| Capitalized software development costs | (15,302) | (17,736) | (11,725) |
| Proceeds from divestitures, net of cash divested | 480 | 552 | 2,330 |
| Net cash used in investing activities | (15,302) | (18,746) | (10,062) |
| Financing activities | |||
| Proceeds from issuance of debt | 56,000 | 172,500 | 30,000 |
| Principal payments of debt | (62,000) | (199,303) | (31) |
| Proceeds from termination of capped calls related to convertible notes | — | 115 | — |
| Proceeds from issuance of common stock | — | 48,645 | 55 |
| Settlement of contingent consideration | (5,000) | (14,167) | (50,050) |
| Equity issuance costs | — | (309) | — |
| Debt issuance costs | (122) | (6,037) | — |
| Net cash (used in) provided by financing activities | (11,122) | 1,444 | (20,026) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 259 | (110) | 118 |
| Net decrease in cash, cash equivalents and restricted cash | (16,875) | (26,236) | (30,155) |
| Cash, cash equivalents, and restricted cash — Beginning of period | 65,594 | 91,830 | 121,985 |
| Cash, cash equivalents, and restricted cash — End of period | $48,719 | $65,594 | $91,830 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet: | |||
| Cash and cash equivalents | $48,719 | $65,594 | $91,830 |
| Restricted cash | — | — | — |
| Total cash, cash equivalents and restricted cash — End of period | $48,719 | $65,594 | $91,830 |
| Supplemental schedule of non-cash investing and financing activities: | |||
| Cash paid for interest | $9,260 | $6,119 | $4,240 |
| Amounts accrued for property and equipment | $12 | $95 | $579 |
| Amounts accrued for capitalized software development costs | $39 | $174 | $40 |
| Issuance of common stock, net of issuance costs - Settlement Agreement (as defined below) | $— | $27,451 | $— |
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