What is Cardlytics' operating income?

Cardlytics' total operating income in 2025 was -$101.82 million, based on the following breakdown: Total Gross Profit: $233.27 million Total Operating Expenses: $335.09 million

Cardlytics (CDLX) Financials

$4.32 +0.16 (+3.85%)

Closing price 07/10/2026 04:00 PM Eastern

Extended Trading

$4.32 0.00 (0.00%)

As of 07/10/2026 07:07 PM Eastern

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Annual Income Statements for Cardlytics

This table shows Cardlytics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-77	-25	-53	-17	-55	-129	-465	-135	-189	-103
Consolidated Net Income / (Loss)	-76	-20	-53	-17	-55	-129	-465	-135	-189	-103
Net Income / (Loss) Continuing Operations	-76	-20	-53	-17	-55	-129	-465	-135	-189	-103
Total Pre-Tax Income	-76	-20	-53	-17	-55	-136	-467	-135	-189	-103
Total Operating Income	-56	-17	-41	-17	-54	-123	-458	-136	-195	-102
Total Gross Profit	113	130	151	210	187	267	299	309	278	233
Total Revenue	113	130	151	210	187	267	299	309	278	233
Operating Revenue	113	130	151	210	187	267	299	309	278	233
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	169	147	192	228	241	390	756	445	474	335
Selling, General & Admin Expense	21	20	34	37	47	66	81	59	56	47
Marketing Expense	31	32	42	44	45	66	75	57	53	39
Research & Development Expense	14	12	16	12	18	38	54	51	50	40
Depreciation Expense	4.22	3.03	3.28	4.54	7.83	30	38	26	26	25
Other Operating Expenses / (Income)	98	80	96	131	124	190	55	180	158	124
Impairment Charge	-	-	-	-	0.00	0.00	453	71	132	59
Total Other Income / (Expense), net	-19	-2.54	-12	0.18	-1.50	-14	-8.93	0.97	6.20	-1.67
Interest Expense	6.17	8.24	3.26	0.55	3.05	13	0.00	0.00	-13	0.00
Interest & Investment Income	-	-	-	-	-	-	-2.56	-2.34	-5.55	-7.92
Other Income / (Expense), net	-13	5.70	-8.86	0.73	1.55	-1.27	-6.38	3.30	-1.27	6.25
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	-7.86	-1.45	0.00	0.00	0.00
Basic Earnings per Share	($32.48)	($7.86)	($2.79)	($0.72)	($2.04)	($3.99)	($13.92)	($3.69)	($3.91)	($1.95)
Weighted Average Basic Shares Outstanding	2.36M	3.23M	19.06M	23.75M	27.21M	32.20M	33.42M	36.49M	48.36M	53.11M
Diluted Earnings per Share	($32.48)	($7.86)	($2.79)	($0.72)	-	-	($13.92)	($3.69)	($3.91)	($1.95)
Weighted Average Diluted Shares Outstanding	2.36M	3.23M	19.06M	23.75M	27.21M	32.20M	33.42M	36.49M	48.36M	53.11M
Weighted Average Basic & Diluted Shares Outstanding	2.36M	3.23M	19.06M	23.75M	27.21M	32.20M	33.61M	44.11M	52.09M	55.05M

This table shows Cardlytics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-24	-101	-24	-4.26	-145	-16	-13	-9.28	-73	-8.25	-4.48
Consolidated Net Income / (Loss)	-24	-101	-24	-4.26	-145	-16	-13	-9.28	-73	-8.25	-4.48
Net Income / (Loss) Continuing Operations	-24	-101	-24	-4.26	-145	-16	-10	-9.28	-73	-8.25	-14
Total Pre-Tax Income	-24	-101	-24	-4.26	-145	-16	-10	-9.28	-73	-8.25	-14
Total Operating Income	-21	-103	-23	-16	-149	-8.32	-11	-13	-69	-6.09	-8.27
Total Gross Profit	79	89	68	70	67	74	56	63	52	56	34
Total Revenue	79	89	68	70	67	74	56	63	52	56	34
Operating Revenue	79	89	68	70	67	74	56	63	52	56	34
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	100	192	90	85	216	82	68	76	121	62	43
Selling, General & Admin Expense	16	14	14	16	12	14	13	13	11	9.73	8.28
Marketing Expense	14	14	14	14	13	11	10	11	7.87	7.52	6.76
Research & Development Expense	12	13	13	13	13	9.90	10	11	8.80	7.97	6.43
Depreciation Expense	5.99	6.70	6.25	6.53	6.97	5.94	4.35	6.28	6.47	6.21	3.94
Other Operating Expenses / (Income)	51	66	43	35	39	42	35	34	28	31	17
Other Special Charges / (Income)	-	-	-	0.00	0.00	-	-5.35	0.20	0.32	-	0.00
Total Other Income / (Expense), net	-3.31	2.09	-1.45	12	3.36	-7.28	0.80	3.51	-3.82	-2.16	-5.52
Interest & Investment Income	-	-	-	-1.56	-1.48	-	-1.83	-1.94	-2.01	-	-3.82
Other Income / (Expense), net	-2.40	2.93	-0.63	0.10	4.84	-5.58	2.63	5.45	-1.81	-0.02	-1.71
Income Tax Expense	-	-	-	-	-	-	0.00	-	-	-	0.00
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-2.96	-	-	-	9.32
Weighted Average Basic Shares Outstanding	37.98M	36.49M	43.25M	49.06M	50.03M	48.36M	51.86M	52.75M	53.49M	53.11M	54.90M
Weighted Average Diluted Shares Outstanding	37.98M	36.49M	43.25M	49.06M	50.03M	48.36M	51.86M	52.75M	53.49M	53.11M	54.90M
Weighted Average Basic & Diluted Shares Outstanding	39.25M	44.11M	48.78M	49.84M	50.82M	52.09M	52.50M	53.24M	54.06M	55.05M	57.61M

This table details how cash moves in and out of Cardlytics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-4.23	-1.99	39	45	189	-60	-112	-30	-26	-17
Net Cash From Operating Activities	-32	-22	-19	11	-7.60	-39	-54	-0.19	-8.82	9.29
Net Cash From Continuing Operating Activities	-32	-22	-19	11	-7.60	-39	-54	-0.19	-8.82	9.29
Net Income / (Loss) Continuing Operations	-76	-20	-53	-17	-55	-129	-465	-135	-189	-103
Consolidated Net Income / (Loss)	-76	-20	-53	-17	-55	-129	-465	-135	-189	-103
Depreciation Expense	4.22	3.03	3.28	4.54	7.83	30	38	26	26	25
Amortization Expense	6.36	9.08	4.23	0.10	11	20	7.79	4.70	3.82	3.69
Non-Cash Adjustments To Reconcile Net Income	46	-0.34	30	16	33	45	506	116	167	78
Changes in Operating Assets and Liabilities, net	-14	-14	-3.43	7.49	-3.75	-5.32	-139	-12	-16	5.82
Net Cash From Investing Activities	-2.55	-1.65	-7.34	-11	-10	-507	-16	-10	-19	-15
Net Cash From Continuing Investing Activities	-2.55	-1.65	-7.34	-11	-10	-507	-16	-10	-19	-15
Purchase of Property, Plant & Equipment	-2.47	-1.59	-7.32	-11	-10	-12	-13	-12	-19	-16
Divestitures	-	-	-	-	-	0.00	0.00	2.33	0.55	0.48
Net Cash From Financing Activities	31	22	65	44	206	486	-40	-20	1.44	-11
Net Cash From Continuing Financing Activities	31	22	65	44	206	486	-40	-20	1.44	-11
Repayment of Debt	-34	-0.24	-53	-47	-0.41	-0.20	-0.21	-0.03	-205	-62
Repurchase of Common Equity	-1.67	-2.67	-1.95	-0.20	0.00	-0.19	-40	0.00	-0.31	0.00
Issuance of Debt	66	13	47	0.00	223	0.00	0.00	30	173	56
Issuance of Common Equity	0.28	0.23	72	91	10	486	0.38	0.06	49	0.00
Other Financing Activities, net	-	-	0.00	0.00	-26	0.00	0.00	-50	-14	-5.00
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	0.26
Cash Interest Paid	-	0.87	9.73	-	0.06	2.33	2.38	4.24	6.12	9.26

This table details how cash moves in and out of Cardlytics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-13	1.69	5.94	-27	-4.26	-1.39	-14	-5.30	-2.78	4.76	-13
Net Cash From Operating Activities	1.19	2.93	-18	4.43	1.39	2.98	-6.71	1.23	1.76	13	-5.64
Net Cash From Continuing Operating Activities	-9.76	2.93	-18	4.43	1.38	2.98	-6.71	1.23	1.76	13	-5.64
Net Income / (Loss) Continuing Operations	-24	-101	-24	-4.26	-145	-16	-13	-9.28	-73	-8.25	-4.48
Consolidated Net Income / (Loss)	-24	-101	-24	-4.26	-145	-16	-13	-9.28	-73	-8.25	-4.48
Depreciation Expense	5.99	6.70	6.25	6.53	6.97	5.94	6.29	6.28	6.47	6.21	4.42
Amortization Expense	1.02	0.66	0.99	0.93	0.94	-12	1.04	1.04	0.91	0.70	0.65
Non-Cash Adjustments To Reconcile Net Income	13	85	13	1.81	135	29	1.37	3.44	67	5.87	-6.33
Changes in Operating Assets and Liabilities, net	-6.00	11	-14	-0.58	3.58	-4.75	-2.12	-0.24	-0.30	8.48	0.10
Net Cash From Investing Activities	-3.15	-1.37	-4.75	-4.66	-5.26	-4.09	-3.90	-4.66	-4.46	-2.28	-2.30
Net Cash From Continuing Investing Activities	-3.15	-1.37	-4.75	-4.66	-5.26	-4.09	-3.90	-4.66	-4.46	-2.28	-2.30
Purchase of Property, Plant & Equipment	-3.15	-3.70	-4.75	-4.86	-5.26	-4.44	-4.10	-4.66	-4.46	-2.56	-2.30
Divestitures	-	-	0.00	0.20	-	-	0.20	-	-	0.28	0.00
Net Cash From Financing Activities	0.02	0.05	28	-26	-0.39	-0.20	-3.03	-2.06	-0.01	-6.02	-5.02
Net Cash From Continuing Financing Activities	0.02	0.05	28	-26	-0.39	-0.20	-3.03	-2.06	-0.01	-6.02	-5.02
Repayment of Debt	-0.01	-0.01	-0.24	-205	-0.27	-0.21	-0.03	-0.06	-50	-12	-10
Issuance of Debt	-	-	-	-	-	-	0.00	-	50	6.00	5.00
Other Financing Activities, net	-	-	-20	6.02	-0.00	-	-3.00	-2.00	-	-	0.00
Effect of Exchange Rate Changes	-	0.08	-0.02	-0.00	-	-0.09	0.10	0.19	-0.07	-	-0.08
Cash Interest Paid	1.03	1.28	1.86	0.34	0.25	3.67	0.25	3.69	0.84	4.48	0.63

This table presents Cardlytics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	101	154	224	423	1,264	691	574	393	286
Total Current Assets	75	124	196	386	359	250	224	178	137
Cash & Equivalents	21	40	104	293	233	122	92	66	49
Short-Term Investments	-	-	-	-	-	-	-	-	0.00
Accounts Receivable	51	61	85	87	117	120	126	107	85
Prepaid Expenses	2.12	3.96	5.78	5.69	7.98	7.98	6.10	5.34	3.21
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	0.42
Plant, Property, & Equipment, net	7.32	10	14	14	11	5.92	3.32	2.60	1.93
Total Noncurrent Assets	19	19	14	23	894	435	347	212	146
Goodwill	-	-	-	0.00	743	353	277	159	110
Intangible Assets	0.96	2.00	4.20	6.75	139	73	60	45	19
Other Noncurrent Operating Assets	18	17	10	16	13	9.16	10	7.99	5.96
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	11
Total Liabilities & Shareholders' Equity	101	154	224	423	1,264	691	574	393	286
Total Liabilities	113	102	81	265	573	480	439	323	292
Total Current Liabilities	42	52	78	81	327	249	171	149	78
Accounts Payable	1.55	2.10	1.23	1.36	4.62	3.77	4.43	3.69	2.66
Accrued Expenses	4.62	4.39	6.02	5.52	20	21	9.59	7.18	7.13
Current Deferred Revenue	0.13	0.35	1.13	0.35	3.28	1.75	2.41	2.15	2.54
Current Employee Benefit Liabilities	4.64	5.94	8.19	7.58	12	10	12	5.49	6.04
Other Current Liabilities	31	39	62	66	288	212	143	85	58
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	1.66
Total Noncurrent Liabilities	71	50	2.65	184	246	231	268	174	214
Long-Term Debt	57	47	0.01	174	184	226	258	168	209
Other Noncurrent Operating Liabilities	10	-	0.00	10	61	4.31	11	6.03	4.75
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	0.09
Total Equity & Noncontrolling Interests	-209	52	143	157	691	212	135	70	-6.51
Total Preferred & Common Equity	-209	52	143	157	691	212	135	70	-6.51
Total Common Equity	-209	52	143	157	691	212	135	70	-6.51
Common Stock	59	371	481	551	1,213	1,183	1,244	1,367	1,400
Retained Earnings	-268	-321	-339	-394	-523	-977	-1,111	-1,301	-1,404
Accumulated Other Comprehensive Income / (Loss)	1.07	1.99	1.31	-0.19	0.49	5.60	2.47	3.60	-2.00

This table presents Cardlytics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	635	569	534	399	369	361	293	264
Total Current Assets	206	218	185	183	157	150	141	129
Cash & Equivalents	90	98	71	67	52	47	44	36
Short-Term Investments	-	-	-	-	-	-	-	24
Accounts Receivable	108	111	107	110	99	97	91	66
Prepaid Expenses	7.26	9.49	6.72	6.79	5.33	7.04	5.35	2.97
Other Current Nonoperating Assets	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	3.01	2.91	3.08	2.85	2.47	2.39	2.21	1.74
Total Noncurrent Assets	426	348	346	213	210	208	150	134
Goodwill	353	277	277	159	159	159	110	110
Intangible Assets	67	59	59	45	44	43	33	18
Other Noncurrent Operating Assets	6.76	11	9.75	9.10	6.57	6.04	6.98	5.56
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	0.00
Total Liabilities & Shareholders' Equity	635	569	534	399	369	361	293	264
Total Liabilities	410	370	324	330	305	302	298	268
Total Current Liabilities	179	103	105	156	132	129	124	59
Accounts Payable	3.48	3.97	4.87	3.93	4.45	1.95	3.61	2.60
Accrued Expenses	9.67	4.32	6.77	8.36	8.38	6.46	7.47	9.92
Current Deferred Revenue	3.32	1.99	1.68	2.06	2.61	3.10	3.37	2.74
Current Employee Benefit Liabilities	11	8.09	5.49	8.25	6.44	7.24	7.30	4.57
Other Current Liabilities	122	82	84	85	64	64	56	40
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	230	266	220	174	173	173	174	209
Long-Term Debt	227	258	213	167	168	168	169	204
Other Noncurrent Operating Liabilities	2.88	-	0.02	0.02	5.12	4.92	5.18	4.36
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	225	199	210	70	64	59	-4.70	-4.00
Total Preferred & Common Equity	225	199	210	70	64	59	-4.70	-4.00
Total Common Equity	225	199	210	70	64	59	-4.70	-4.00
Common Stock	1,230	1,332	1,347	1,356	1,377	1,385	1,393	1,405
Retained Earnings	-1,010	-1,136	-1,140	-1,285	-1,314	-1,323	-1,396	-1,409
Accumulated Other Comprehensive Income / (Loss)	5.30	3.05	2.95	-1.50	1.25	-3.63	-2.04	-0.53

This table displays calculated financial ratios and metrics derived from Cardlytics' official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	21,411,500.00	25,711,713.00	27,464,399.00	33,269,151.00	33,165,847.00	39,254,146.00	-	54,056,548.00
DEI Adjusted Shares Outstanding	0.00	0.00	21,411,500.00	25,711,713.00	27,464,399.00	33,269,151.00	33,165,847.00	39,254,146.00	-	54,056,548.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-2.48	-0.67	-2.02	-3.86	-14.03	-3.43	-	-1.91
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	15.55%	15.59%	39.65%	-11.19%	42.93%	11.76%	3.57%	-10.00%	-16.18%
EBITDA Growth	0.00%	101.19%	-6,129.96%	71.69%	-179.01%	-121.49%	-466.38%	75.84%	-78.13%	60.16%
EBIT Growth	0.00%	83.60%	-336.57%	66.66%	-215.58%	-136.50%	-274.72%	71.48%	-48.65%	51.43%
NOPAT Growth	0.00%	69.59%	-139.29%	57.66%	-211.24%	-127.36%	-273.39%	70.36%	-44.10%	47.92%
Net Income Growth	0.00%	74.05%	-170.06%	67.68%	-223.27%	-131.97%	-261.89%	71.05%	-40.54%	45.33%
EPS Growth	0.00%	75.80%	64.50%	74.19%	0.00%	0.00%	0.00%	73.49%	-5.96%	50.13%
Operating Cash Flow Growth	0.00%	31.99%	14.06%	160.32%	-166.32%	-407.02%	-39.93%	99.66%	-4,669.73%	205.28%
Free Cash Flow Firm Growth	0.00%	0.00%	-23.93%	72.64%	-206.71%	-1,769.42%	100.79%	-1,570.65%	31.85%	105.25%
Invested Capital Growth	0.00%	0.00%	65.18%	-0.26%	-2.23%	1,594.76%	-50.80%	-4.81%	-27.45%	-34.01%
Revenue Q/Q Growth	0.00%	0.00%	6.02%	11.36%	-1.17%	9.41%	-2.47%	2.20%	-5.17%	-7.13%
EBITDA Q/Q Growth	0.00%	0.00%	-33.34%	50.68%	11.16%	-7.04%	-767.80%	73.19%	28.72%	23.80%
EBIT Q/Q Growth	0.00%	0.00%	-22.23%	46.48%	-15.05%	-11.44%	-352.93%	67.75%	30.44%	7.53%
NOPAT Q/Q Growth	0.00%	0.00%	-26.66%	41.05%	-15.84%	-9.16%	-400.02%	67.34%	32.61%	2.13%
Net Income Q/Q Growth	0.00%	0.00%	-16.49%	46.65%	-22.57%	-4.10%	-370.82%	67.32%	31.05%	6.62%
EPS Q/Q Growth	0.00%	0.00%	-105.15%	35.14%	0.00%	0.00%	0.00%	0.00%	0.00%	9.72%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	4.22%	330.39%	16.63%	-19.07%	-30.34%	98.86%	0.51%	1,353.71%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	46.01%	-5.96%	-1.79%	105.49%	-414.57%	-53.71%	120.16%
Invested Capital Q/Q Growth	0.00%	0.00%	28.41%	21.24%	10.82%	1.36%	-52.72%	-23.41%	-2.96%	-13.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-52.25%	0.54%	-28.05%	-5.69%	-17.86%	-27.68%	-140.29%	-32.73%	-64.78%	-28.57%
Operating Margin	-49.84%	-13.12%	-27.15%	-8.23%	-28.85%	-45.90%	-153.34%	-43.88%	-70.25%	-43.65%
EBIT Margin	-61.63%	-8.75%	-33.03%	-7.89%	-28.02%	-46.37%	-155.47%	-42.81%	-70.70%	-40.97%
Profit (Net Income) Margin	-67.09%	-15.07%	-35.20%	-8.15%	-29.65%	-48.13%	-155.85%	-43.56%	-68.02%	-44.36%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	94.24%	99.69%	100.00%	100.00%	100.00%
Interest Burden Percent	108.87%	172.26%	106.56%	103.30%	105.82%	110.14%	100.55%	101.76%	96.21%	108.29%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-101.86%	-91.92%	-31.28%	-98.59%	-25.26%	-66.95%	-30.83%	-52.79%	-39.39%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-144.78%	-307.91%	-22.76%	-82.80%	25.47%	-594.55%	-60.29%	-86.24%	-60.99%
Return on Net Nonoperating Assets (RNNOA)	0.00%	422.56%	-175.12%	13.72%	61.70%	-5.06%	-36.17%	-46.94%	-132.08%	-286.63%
Return on Equity (ROE)	0.00%	320.70%	-267.04%	-17.56%	-36.89%	-30.33%	-103.13%	-77.77%	-184.88%	-326.02%
Cash Return on Invested Capital (CROIC)	0.00%	-301.86%	-141.08%	-31.02%	-96.34%	-202.98%	1.13%	-25.89%	-20.97%	1.58%
Operating Return on Assets (OROA)	0.00%	-11.32%	-39.12%	-8.78%	-16.19%	-14.69%	-47.48%	-20.92%	-40.70%	-28.18%
Return on Assets (ROA)	0.00%	-19.49%	-41.68%	-9.07%	-17.14%	-15.25%	-47.60%	-21.29%	-39.16%	-30.51%
Return on Common Equity (ROCE)	0.00%	5,463.68%	1,053.42%	-17.56%	-36.89%	-30.33%	-103.13%	-77.77%	-184.88%	-326.02%
Return on Equity Simple (ROE_SIMPLE)	0.00%	9.41%	-102.05%	-11.97%	-35.26%	-18.61%	-219.87%	0.00%	-270.46%	0.00%
Net Operating Profit after Tax (NOPAT)	-39	-12	-29	-12	-38	-86	-320	-95	-137	-71
NOPAT Margin	-34.89%	-9.18%	-19.01%	-5.76%	-20.20%	-32.13%	-107.34%	-30.71%	-49.17%	-30.55%
Net Nonoperating Expense Percent (NNEP)	0.00%	42.92%	215.99%	-8.52%	-15.79%	-50.74%	527.59%	29.46%	33.45%	21.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-73.22%	-24.21%	-48.26%	-35.21%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	18.93%	15.42%	22.72%	17.45%	24.90%	24.79%	27.28%	19.02%	20.30%	20.26%
R&D to Revenue	12.32%	9.32%	10.76%	5.56%	9.38%	14.27%	18.23%	16.61%	17.83%	17.05%
Operating Expenses to Revenue	149.84%	113.12%	127.15%	108.23%	128.85%	145.90%	253.34%	143.88%	170.25%	143.65%
Earnings before Interest and Taxes (EBIT)	-70	-11	-50	-17	-52	-124	-464	-132	-197	-96
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-59	0.70	-42	-12	-33	-74	-419	-101	-180	-67
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	4.46	11.28	24.94	3.18	0.91	2.68	2.69	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	4.64	11.62	26.06	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.62	0.54	1.54	7.68	20.98	8.23	0.64	1.17	0.68	0.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	12.87	6.16	39.04	100.43	3.35	0.94	1.75	1.54	1.55
Enterprise Value to Revenue (EV/Rev)	0.00	2.32	1.59	7.18	20.34	8.05	0.99	1.71	1.21	0.95
Enterprise Value to EBITDA (EV/EBITDA)	0.00	431.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	131.94	0.00	0.00	0.00	0.00	0.00	23.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	54.52	0.00	0.00	77.84
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	-4.65	0.90	0.00	1.11	0.27	1.07	1.91	3.05	-32.10
Long-Term Debt to Equity	0.00	-4.65	0.90	0.00	1.11	0.27	1.07	1.91	2.40	-32.10
Financial Leverage	0.00	-2.92	0.57	-0.60	-0.75	-0.20	0.06	0.78	1.53	4.70
Leverage Ratio	0.00	-8.23	6.41	1.94	2.15	1.99	2.17	3.65	4.72	10.69
Compound Leverage Factor	0.00	-14.17	6.83	2.00	2.28	2.19	2.18	3.72	4.54	11.57
Debt to Total Capital	0.00%	127.36%	47.33%	0.03%	52.54%	21.07%	51.65%	65.64%	75.32%	103.22%
Short-Term Debt to Total Capital	0.00%	0.10%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	16.17%	0.00%
Long-Term Debt to Total Capital	0.00%	127.27%	47.31%	0.01%	52.54%	21.07%	51.65%	65.64%	59.15%	103.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	438.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-466.20%	52.67%	99.97%	47.46%	78.93%	48.35%	34.36%	24.68%	-3.22%
Debt to EBITDA	0.00	81.33	-1.11	0.00	-5.21	-2.49	-0.54	-2.54	-1.18	-3.14
Net Debt to EBITDA	0.00	51.00	-0.17	8.74	3.57	0.66	-0.25	-1.64	-0.82	-2.40
Long-Term Debt to EBITDA	0.00	81.27	-1.10	0.00	-5.21	-2.49	-0.54	-2.54	-0.93	-3.14
Debt to NOPAT	0.00	-4.76	-1.63	0.00	-4.61	-2.15	-0.71	-2.71	-1.56	-2.93
Net Debt to NOPAT	0.00	-2.99	-0.25	8.62	3.16	0.57	-0.32	-1.74	-1.08	-2.25
Long-Term Debt to NOPAT	0.00	-4.76	-1.63	0.00	-4.61	-2.15	-0.71	-2.71	-1.23	-2.93
Altman Z-Score	0.00	-2.05	-1.08	11.17	8.46	1.64	-3.52	-2.33	-5.14	-6.79
Noncontrolling Interest Sharing Ratio	0.00%	-1,603.70%	494.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.77	2.40	2.50	4.74	1.10	1.00	1.31	1.19	1.75
Quick Ratio	0.00	1.72	1.93	2.42	4.67	1.07	0.97	1.27	1.16	1.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-35	-44	-12	-37	-690	5.42	-80	-54	2.86
Operating Cash Flow to CapEx	-1,314.11%	-1,392.69%	-259.53%	104.26%	-75.67%	-309.89%	-404.96%	-1.49%	-45.72%	58.86%
Free Cash Flow to Firm to Interest Expense	0.00	-4.31	-13.47	-21.94	-12.10	-54.88	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-5.27	-2.68	-5.82	20.91	-2.49	-3.07	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-5.67	-2.88	-8.06	0.85	-5.79	-4.06	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.29	1.18	1.11	0.58	0.32	0.31	0.49	0.58	0.69
Accounts Receivable Turnover	0.00	2.54	2.70	2.88	2.17	2.62	2.52	2.51	2.39	2.43
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	17.81	17.17	17.16	13.28	21.25	34.74	66.93	94.04	103.06
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	143.48	135.39	126.54	167.88	139.20	145.04	145.24	152.83	150.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	143.48	135.39	126.54	167.88	139.20	145.04	145.24	152.83	150.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	24	39	39	38	642	316	300	218	144
Invested Capital Turnover	0.00	11.09	4.84	5.43	4.88	0.79	0.62	1.00	1.07	1.29
Increase / (Decrease) in Invested Capital	0.00	24	15	-0.10	-0.86	604	-326	-15	-82	-74
Enterprise Value (EV)	0.00	302	239	1,512	3,802	2,150	296	527	337	222
Market Capitalization	70	70	232	1,616	3,921	2,199	192	362	189	62
Book Value per Share	$0.00	($64.61)	$2.43	$5.57	$5.72	$20.76	$6.38	$3.43	$1.38	($0.12)
Tangible Book Value per Share	$0.00	($64.91)	$2.33	$5.41	$5.48	($5.73)	($6.47)	($5.15)	($2.64)	($2.51)
Total Capital	0.00	45	99	143	331	875	438	392	284	202
Total Debt	0.00	57	47	0.04	174	184	226	258	214	209
Total Long-Term Debt	0.00	57	47	0.01	174	184	226	258	168	209
Net Debt	0.00	36	7.09	-105	-119	-49	104	166	148	160
Capital Expenditures (CapEx)	2.47	1.59	7.32	11	10	12	13	12	19	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	11	33	13	11	-202	-121	-39	9.30	10
Debt-free Net Working Capital (DFNWC)	0.00	33	72	117	304	31	1.10	53	75	59
Net Working Capital (NWC)	0.00	32	72	117	304	31	1.10	53	29	59
Net Nonoperating Expense (NNE)	36	7.67	24	5.02	18	43	145	40	52	32
Net Nonoperating Obligations (NNO)	0.00	36	-13	-105	-119	-49	104	166	148	150
Total Depreciation and Amortization (D&A)	11	12	7.51	4.63	19	50	45	31	16	29
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	8.65%	21.80%	6.07%	5.87%	-75.69%	-40.49%	-12.63%	3.34%	4.36%
Debt-free Net Working Capital to Revenue	0.00%	24.96%	48.09%	55.77%	162.83%	11.75%	0.37%	17.07%	26.91%	25.24%
Net Working Capital to Revenue	0.00%	24.92%	48.08%	55.76%	162.83%	11.75%	0.37%	17.07%	10.43%	25.24%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($32.48)	($7.86)	($2.79)	($0.72)	($2.04)	$0.00	($13.92)	($3.69)	($3.91)	($1.95)
Adjusted Weighted Average Basic Shares Outstanding	2.36M	3.23M	22.50M	26.70M	27.90M	0.00	33.42M	36.49M	48.36M	53.11M
Adjusted Diluted Earnings per Share	($32.48)	($7.86)	($2.79)	($0.72)	($2.04)	$0.00	$0.00	$0.00	($3.91)	($1.95)
Adjusted Weighted Average Diluted Shares Outstanding	2.36M	3.23M	22.50M	26.70M	27.90M	0.00	33.61M	44.11M	48.36M	53.11M
Adjusted Basic & Diluted Earnings per Share	($32.48)	($7.86)	($2.79)	($0.72)	($2.04)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.36M	3.23M	19.06M	23.75M	27.21M	0.00	33.61M	44.11M	52.09M	55.05M
Normalized Net Operating Profit after Tax (NOPAT)	-39	-12	-29	-12	-38	-86	-3.14	-46	-45	-30
Normalized NOPAT Margin	-34.89%	-9.18%	-19.01%	-5.76%	-20.20%	-32.13%	-1.05%	-14.75%	-16.07%	-12.90%
Pre Tax Income Margin	-67.09%	-15.07%	-35.20%	-8.15%	-29.65%	-51.07%	-156.33%	-43.56%	-68.02%	-44.36%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-11.27	-1.38	-15.25	-30.28	-17.18	-9.86	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-6.38	-1.45	-8.78	-22.13	-12.38	-6.83	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-11.67	-1.58	-17.49	-50.34	-20.48	-10.85	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-6.78	-1.65	-11.02	-42.18	-15.68	-7.82	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-2.21%	-13.58%	-3.67%	-1.14%	0.00%	-0.15%	-8.63%	0.00%	-0.16%	0.00%

This table displays calculated financial ratios and metrics derived from Cardlytics' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	37,724,209.00	39,254,146.00	44,109,102.00	48,783,041.00	49,840,104.00	-	52,085,224.00	52,502,390.00	53,236,901.00	54,056,548.00	55,054,268.00
DEI Adjusted Shares Outstanding	37,724,209.00	39,254,146.00	44,109,102.00	48,783,041.00	49,840,104.00	-	52,085,224.00	52,502,390.00	53,236,901.00	54,056,548.00	55,054,268.00
DEI Earnings Per Adjusted Shares Outstanding	-0.64	-2.57	-0.55	-0.09	-2.91	-	-0.26	-0.18	-1.37	-0.15	-0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.66%	8.08%	5.09%	-9.21%	-15.12%	-17.01%	-16.53%	-9.17%	-22.41%	-24.19%	-39.19%
EBITDA Growth	-184.41%	74.89%	-174.25%	42.47%	-746.38%	78.39%	92.84%	99.71%	53.39%	111.40%	-323.28%
EBIT Growth	-436.66%	73.55%	-272.27%	31.49%	-523.41%	86.10%	63.81%	53.29%	50.83%	56.02%	-17.58%
NOPAT Growth	-225.49%	73.10%	-230.68%	34.99%	-619.28%	91.92%	51.31%	19.12%	53.65%	26.71%	25.56%
Net Income Growth	-482.42%	73.34%	-278.39%	81.89%	-505.78%	84.54%	45.29%	-118.06%	49.94%	47.08%	66.27%
EPS Growth	0.00%	0.00%	-240.00%	86.57%	-360.32%	87.10%	0.00%	-100.00%	53.10%	58.33%	0.00%
Operating Cash Flow Growth	108.27%	122.40%	-75.05%	-22.99%	16.00%	1.53%	61.93%	-72.34%	27.15%	336.72%	15.87%
Free Cash Flow Firm Growth	1,225.58%	-197.98%	-109.51%	-86.52%	-75.57%	234.85%	468.09%	334.14%	-83.59%	-8.87%	-41.70%
Invested Capital Growth	-41.23%	-4.81%	6.07%	-9.98%	-42.75%	-27.45%	-39.03%	-37.28%	-26.11%	-34.01%	-37.88%
Revenue Q/Q Growth	3.00%	12.86%	-24.18%	3.00%	-3.70%	10.35%	-23.73%	2.18%	-17.74%	7.81%	-38.82%
EBITDA Q/Q Growth	-11.79%	-477.41%	82.50%	49.07%	-1,544.78%	85.26%	83.42%	99.42%	-263,600.00%	101.26%	-715.29%
EBIT Q/Q Growth	-0.51%	-333.81%	76.54%	33.01%	-814.55%	90.33%	38.92%	35.91%	-862.75%	91.35%	-63.31%
NOPAT Q/Q Growth	15.09%	-398.36%	77.82%	30.73%	-839.45%	94.40%	-33.67%	9.16%	-438.38%	91.15%	-35.77%
Net Income Q/Q Growth	-1.95%	-320.75%	75.93%	82.46%	-3,310.43%	89.26%	14.80%	30.11%	-682.86%	88.65%	45.70%
EPS Q/Q Growth	5.97%	-342.86%	79.93%	83.93%	-3,122.22%	87.59%	0.00%	30.77%	-655.56%	88.97%	0.00%
Operating Cash Flow Q/Q Growth	-79.24%	145.73%	-700.44%	125.14%	-68.73%	115.09%	-325.11%	118.27%	43.76%	638.78%	-143.37%
Free Cash Flow Firm Q/Q Growth	21.54%	-121.80%	34.58%	177.76%	120.36%	20.31%	78.57%	-6.88%	-91.67%	568.08%	14.23%
Invested Capital Q/Q Growth	-2.10%	-23.41%	23.36%	-2.67%	-37.73%	-2.96%	3.67%	0.12%	-26.64%	-13.32%	-2.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-20.31%	-103.89%	-23.98%	-11.86%	-202.50%	-27.05%	-2.06%	-0.04%	-121.64%	1.42%	-14.31%
Operating Margin	-26.14%	-115.43%	-33.76%	-22.71%	-221.52%	-11.24%	-19.70%	-20.22%	-132.33%	-10.86%	-24.11%
EBIT Margin	-29.18%	-112.15%	-34.69%	-22.56%	-214.30%	-18.78%	-15.04%	-11.60%	-135.82%	-10.89%	-29.08%
Profit (Net Income) Margin	-30.33%	-113.09%	-35.91%	-6.11%	-216.51%	-21.07%	-23.54%	-14.68%	-139.67%	-14.71%	-13.05%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	128.73%	100.00%	100.00%	100.00%	32.47%
Interest Burden Percent	103.97%	100.84%	103.49%	27.09%	101.03%	112.19%	121.56%	126.47%	102.84%	135.00%	138.26%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-10.45%	-81.10%	-20.51%	-12.75%	-147.52%	-8.44%	-12.34%	-12.84%	-119.13%	-9.80%	-19.45%
ROIC Less NNEP Spread (ROIC-NNEP)	-17.93%	-102.44%	-26.26%	-8.43%	-173.11%	-14.67%	-15.64%	-13.05%	-134.17%	-12.48%	-18.60%
Return on Net Nonoperating Assets (RNNOA)	-5.65%	-79.77%	-17.57%	-5.96%	-188.90%	-22.48%	-19.82%	-15.45%	-672.17%	-58.63%	-94.79%
Return on Equity (ROE)	-16.10%	-160.87%	-38.08%	-18.71%	-336.42%	-30.92%	-32.16%	-28.29%	-791.30%	-68.44%	-114.25%
Cash Return on Invested Capital (CROIC)	-2.93%	-25.89%	-39.08%	-19.32%	-11.47%	-20.97%	5.37%	2.01%	-7.26%	1.58%	8.90%
Operating Return on Assets (OROA)	-10.38%	-54.81%	-17.30%	-11.80%	-121.61%	-10.81%	-8.57%	-6.90%	-98.57%	-7.49%	-19.40%
Return on Assets (ROA)	-10.79%	-55.27%	-17.90%	-3.20%	-122.86%	-12.13%	-13.40%	-8.73%	-101.36%	-10.12%	-8.71%
Return on Common Equity (ROCE)	-16.10%	-160.87%	-38.08%	-18.71%	-336.42%	-30.92%	-32.16%	-28.29%	-791.30%	-68.44%	-114.25%
Return on Equity Simple (ROE_SIMPLE)	-182.90%	0.00%	-86.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-72	-16	-11	-104	-5.82	-7.78	-8.95	-48	-4.27	-5.79
NOPAT Margin	-18.30%	-80.80%	-23.63%	-15.89%	-155.07%	-7.87%	-13.79%	-14.15%	-92.63%	-7.60%	-16.88%
Net Nonoperating Expense Percent (NNEP)	7.49%	21.35%	5.75%	-4.32%	25.60%	6.23%	3.30%	0.21%	15.03%	2.67%	-0.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-18.36%	-3.42%	-2.56%	-35.66%	-2.05%	-2.80%	-3.28%	-22.96%	-2.11%	-2.89%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	19.70%	15.59%	21.43%	23.19%	18.01%	18.61%	22.93%	20.40%	20.86%	17.35%	24.13%
R&D to Revenue	15.73%	14.03%	19.30%	19.34%	19.68%	13.37%	18.21%	17.86%	16.91%	14.20%	18.74%
Operating Expenses to Revenue	126.14%	215.43%	133.76%	122.71%	321.52%	111.24%	119.70%	120.22%	232.33%	110.86%	124.11%
Earnings before Interest and Taxes (EBIT)	-23	-100	-23	-16	-144	-14	-8.49	-7.34	-71	-6.11	-9.98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	-93	-16	-8.26	-136	-20	-1.16	-0.02	-63	0.80	-4.91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.76	2.68	3.21	1.91	2.29	2.69	1.48	1.47	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.06	1.17	2.05	1.31	0.54	0.68	0.35	0.32	0.52	0.27	0.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.01	1.75	2.18	1.53	1.40	1.54	1.14	1.12	1.81	1.55	1.44
Enterprise Value to Revenue (EV/Rev)	2.61	1.71	2.59	1.80	1.07	1.21	0.96	0.95	1.19	0.95	0.96
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	123.00	0.00	0.00	23.94	19.53
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	16.02	43.14	0.00	77.84	12.40
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.14	1.91	1.34	1.06	3.18	3.05	3.34	3.65	-45.63	-32.10	-51.01
Long-Term Debt to Equity	1.01	1.91	1.33	1.05	2.49	2.40	2.62	2.87	-35.84	-32.10	-51.01
Financial Leverage	0.32	0.78	0.67	0.71	1.09	1.53	1.27	1.18	5.01	4.70	5.10
Leverage Ratio	2.11	3.65	2.91	2.62	3.51	4.72	3.56	3.33	10.65	10.69	10.53
Compound Leverage Factor	2.19	3.68	3.01	0.71	3.54	5.30	4.33	4.21	10.95	14.43	14.56
Debt to Total Capital	53.30%	65.64%	57.34%	51.38%	76.10%	75.32%	76.95%	78.50%	102.24%	103.22%	102.00%
Short-Term Debt to Total Capital	6.22%	0.00%	0.45%	0.53%	16.51%	16.17%	16.52%	16.85%	21.94%	0.00%	0.00%
Long-Term Debt to Total Capital	47.08%	65.64%	56.89%	50.85%	59.59%	59.15%	60.43%	61.64%	80.30%	103.22%	102.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.70%	34.36%	42.66%	48.62%	23.90%	24.68%	23.05%	21.50%	-2.24%	-3.22%	-2.00%
Debt to EBITDA	-0.68	-2.54	-1.92	-1.67	-0.88	-1.18	-1.41	-1.34	-2.45	-3.14	-2.90
Net Debt to EBITDA	-0.44	-1.64	-1.22	-1.13	-0.61	-0.82	-1.06	-1.05	-1.95	-2.40	-2.05
Long-Term Debt to EBITDA	-0.60	-2.54	-1.91	-1.65	-0.69	-0.93	-1.10	-1.05	-1.93	-3.14	-2.90
Debt to NOPAT	-0.88	-2.71	-2.24	-1.95	-1.09	-1.56	-1.66	-1.67	-2.95	-2.93	-2.95
Net Debt to NOPAT	-0.57	-1.74	-1.42	-1.33	-0.76	-1.08	-1.26	-1.30	-2.34	-2.25	-2.08
Long-Term Debt to NOPAT	-0.78	-2.71	-2.22	-1.93	-0.86	-1.23	-1.31	-1.31	-2.31	-2.93	-2.95
Altman Z-Score	-0.91	-2.14	-1.10	-1.59	-4.58	-3.61	-4.07	-4.22	-6.28	-5.76	-6.35
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.15	1.31	2.13	1.77	1.18	1.19	1.19	1.16	1.14	1.75	2.17
Quick Ratio	1.10	1.27	2.04	1.71	1.13	1.16	1.15	1.11	1.09	1.70	2.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	261	-57	-37	29	64	77	137	126	10	70	80
Operating Cash Flow to CapEx	37.95%	79.36%	-371.12%	91.17%	26.35%	67.16%	-163.44%	26.30%	39.45%	508.80%	-244.88%
Free Cash Flow to Firm to Interest Expense	285.04	0.00	-45.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	1.30	0.00	-21.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-2.13	0.00	-27.31	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.36	0.49	0.50	0.52	0.57	0.58	0.57	0.59	0.73	0.69	0.67
Accounts Receivable Turnover	2.88	2.51	2.98	2.92	2.70	2.39	2.54	2.61	2.50	2.43	2.56
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	59.86	66.93	81.58	94.19	100.30	94.04	99.45	97.28	99.42	103.06	100.34
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	126.70	145.24	122.56	124.95	135.41	152.83	143.78	139.85	146.01	150.20	142.78
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	126.70	145.24	122.56	124.95	135.41	152.83	143.78	139.85	146.01	150.20	142.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	392	300	371	361	225	218	226	226	166	144	140
Invested Capital Turnover	0.57	1.00	0.87	0.80	0.95	1.07	0.90	0.91	1.29	1.29	1.15
Increase / (Decrease) in Invested Capital	-275	-15	21	-40	-168	-82	-145	-134	-59	-74	-86
Enterprise Value (EV)	789	527	809	551	314	337	257	254	300	222	202
Market Capitalization	622	362	639	401	159	189	95	86	129	62	58
Book Value per Share	$5.97	$3.43	$4.51	$4.31	$1.40	$1.38	$1.23	$1.12	($0.09)	($0.12)	($0.07)
Tangible Book Value per Share	($5.15)	($5.15)	($3.11)	($2.59)	($2.70)	($2.64)	($2.67)	($2.74)	($2.77)	($2.51)	($2.40)
Total Capital	482	392	467	432	292	284	278	273	210	202	200
Total Debt	257	258	268	222	222	214	214	214	215	209	204
Total Long-Term Debt	227	258	266	220	174	168	168	168	169	209	204
Net Debt	167	166	170	151	155	148	162	168	171	160	144
Capital Expenditures (CapEx)	3.15	3.70	4.75	4.86	5.26	4.44	4.10	4.66	4.46	2.56	2.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-34	-39	20	12	8.58	9.30	19	21	19	10	9.37
Debt-free Net Working Capital (DFNWC)	56	53	118	83	76	75	71	67	63	59	69
Net Working Capital (NWC)	26	53	116	81	27	29	25	21	17	59	69
Net Nonoperating Expense (NNE)	9.51	29	8.30	-6.81	41	9.77	5.50	0.33	24	3.98	-1.31
Net Nonoperating Obligations (NNO)	167	166	172	151	155	148	162	168	171	150	144
Total Depreciation and Amortization (D&A)	7.01	7.36	7.24	7.46	7.91	-6.12	7.33	7.32	7.38	6.91	5.07
Debt-free, Cash-free Net Working Capital to Revenue	-11.25%	-12.63%	6.41%	3.85%	2.93%	3.34%	7.06%	7.71%	7.61%	4.36%	4.44%
Debt-free Net Working Capital to Revenue	18.55%	17.07%	37.69%	27.18%	25.75%	26.91%	26.55%	25.27%	25.11%	25.24%	32.76%
Net Working Capital to Revenue	8.63%	17.07%	37.03%	26.43%	9.34%	10.43%	9.35%	7.98%	6.77%	25.24%	32.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.63)	($2.80)	($0.56)	($0.09)	($2.90)	($0.36)	($0.26)	($0.18)	($1.36)	($0.15)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	37.98M	36.49M	43.25M	49.06M	50.03M	48.36M	51.86M	52.75M	53.49M	53.11M	54.90M
Adjusted Diluted Earnings per Share	$0.00	($2.79)	($0.56)	($0.09)	($2.90)	($0.36)	($0.26)	($0.18)	($1.36)	($0.15)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	39.25M	36.49M	43.25M	49.06M	50.03M	48.36M	51.86M	52.75M	53.49M	53.11M	54.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.25M	44.11M	48.78M	49.84M	50.82M	52.09M	52.50M	53.24M	54.06M	55.05M	57.61M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-72	-16	-11	-12	-5.82	-12	-8.81	-6.78	-4.27	-5.79
Normalized NOPAT Margin	-18.23%	-80.80%	-23.63%	-15.73%	-17.69%	-7.87%	-20.42%	-13.93%	-13.04%	-7.60%	-16.88%
Pre Tax Income Margin	-30.33%	-113.09%	-35.91%	-6.11%	-216.51%	-21.07%	-18.28%	-14.68%	-139.67%	-14.71%	-40.21%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-25.19	0.00	-28.64	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-15.80	0.00	-19.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-28.63	0.00	-34.44	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-19.24	0.00	-25.31	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.05%	0.00%	0.00%	-0.09%	-0.09%	-0.16%	0.00%	-0.06%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Cardlytics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cardlytics' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Cardlytics' net income appears to be on an upward trend, with a most recent value of -$103.49 million in 2025, rising from -$75.70 million in 2016. The previous period was -$189.30 million in 2024. Find out what analysts predict for Cardlytics in the coming months.

Cardlytics' total operating income in 2025 was -$101.82 million, based on the following breakdown:

Total Gross Profit: $233.27 million
Total Operating Expenses: $335.09 million

Over the last 9 years, Cardlytics' total revenue changed from $112.82 million in 2016 to $233.27 million in 2025, a change of 106.8%.

Cardlytics' total liabilities were at $292.15 million at the end of 2025, a 9.5% decrease from 2024, and a 158.5% increase since 2017.

In the past 8 years, Cardlytics' cash and equivalents has ranged from $21.26 million in 2017 to $293.24 million in 2020, and is currently $48.72 million as of their latest financial filing in 2025.

Over the last 9 years, Cardlytics' book value per share changed from 0.00 in 2016 to -0.12 in 2025, a change of -12.0%.

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Financial statements for NASDAQ:CDLX last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Cardlytics (CDLX) Financials

Financials Breakdown Chart

Cardlytics Financials - Frequently Asked Questions

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Cardlytics (CDLX) Financials

Annual Income Statements for Cardlytics

Quarterly Income Statements for Cardlytics

Annual Cash Flow Statements for Cardlytics

Quarterly Cash Flow Statements for Cardlytics

Annual Balance Sheets for Cardlytics

Quarterly Balance Sheets for Cardlytics

Annual Metrics And Ratios for Cardlytics

Quarterly Metrics And Ratios for Cardlytics

Financials Breakdown Chart

Cardlytics Financials - Frequently Asked Questions

When does Cardlytics' fiscal year end?

How has Cardlytics' net income changed over the last 9 years?

What is Cardlytics' operating income?

How has Cardlytics' revenue changed over the last 9 years?

How much debt does Cardlytics have?

How much cash does Cardlytics have?

How has Cardlytics' book value per share changed over the last 9 years?

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