Cardlytics, Inc. reported a revenue of $278.3 million for the fiscal year ending December 31, 2024, marking a 10% decrease from $309.2 million in 2023. The company's billings also saw a decline, falling 2.1% to $443.8 million from $453.4 million in the previous year. The decrease in revenue was attributed to a significant increase in Consumer Incentives, which rose by $21.3 million, outpacing the decline in billings. The net loss for the year was $189.3 million, compared to a loss of $134.7 million in 2023, reflecting ongoing challenges in the market and increased operational costs.
In terms of operational metrics, Cardlytics reported an increase in Monthly Active Users (MAUs), which rose to 166,943 in 2024 from 162,148 in 2023, driven by organic growth from existing financial institution partners and the addition of a new partner in the UK. However, the Average Revenue Per User (ARPU) decreased to $1.67 from $1.91, primarily due to the higher Consumer Incentives offered to enhance customer engagement. The company continues to rely heavily on a limited number of financial institution partners, with the top three accounting for over 85% of the Partner Share paid.
Strategically, Cardlytics has made significant moves, including the issuance of $172.5 million in 2024 Convertible Senior Notes and the repurchase of $183.9 million in 2020 Convertible Senior Notes, resulting in a gain of $13 million. The company also divested its Entertainment segment, resulting in a loss of $6.6 million, and has focused on integrating its Cardlytics and Bridg platforms to enhance marketing effectiveness. The company’s workforce stood at 454 employees as of December 31, 2024, with a commitment to fostering diversity, as 42% of employees are women and 45% are people of color.
Looking ahead, Cardlytics anticipates continued challenges in achieving revenue growth due to macroeconomic conditions and competitive pressures. The company is focused on expanding its partnerships and enhancing its product offerings to drive engagement and revenue. Management has expressed a commitment to improving operational efficiency and maintaining strong relationships with existing partners while exploring opportunities for growth in new markets. The outlook remains cautious, with expectations of ongoing investments in technology and marketing to support future growth initiatives.
About Cardlytics, Inc.
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