Cardlytics, Inc. (CDLX)

Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom. The company provides Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data from merchant data partners, including product-level purchase data to enable marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing. Cardlytics, Inc. was incorporated in 2008 and is headquartered in Atlanta, Georgia.

Ticker: CDLX
Exchange: Nasdaq
Sector: Communication Services
Industry: Advertising Agencies
Market cap: $10.63M
52-week range: $1.57 - $16.00

Valuation

Share price: $1.95 (close of Nov 6, 2026)
P/E (TTM): -0.30x
Price to book: -0.46x
Price to free cash flow: -1.48x
Enterprise value: $198.72M
Book value per share: $-4.22

Price performance

Period	Change
1 day	-10.96%
5 days	+9.55%
1 month	-25.00%
3 months	-44.60%
6 months	-75.47%
Year to date	-83.04%
1 year	-84.52%
3 years	-98.54%
5 years	-99.78%
All time	-98.54%

Short interest

As of: Oct 15, 2026
Short % of float: 8.86%
Shares short: 498.32K
Days to cover: 5.41
Change since prior report: -16.12%
Source: FINRA consolidated short interest

Profitability and growth

Return on invested capital: -48.76%
Return on assets: -36.23%
Return on capital employed: -49.13%
Gross margin: 10.59%
Net margin: -44.36%
EBITDA margin: -32.83%
Revenue growth: -16.18%

Cash flow and balance sheet

Free cash flow yield (TTM): -67.76%
Current ratio: 1.82x
Net debt to EBITDA: -23.43x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $233.27M
Cost of revenue: $208.58M
Gross profit: $24.69M
EBITDA: -$76.57M
Net income: -$103.49M
Research and development: $39.77M

Income statement by year

Period end	Revenue	Gross profit	Net income
2025-12-31	$233.27M	$24.69M	-$103.49M
2024-12-31	$278.30M	-	-$189.30M
2023-12-31	$309.20M	$31.92M	-$134.70M
2022-12-31	$298.54M	-	-$465.26M
2021-12-31	$267.12M	$47.72M	-$128.56M
2020-12-31	$186.89M	$55.45M	-$55.42M
2019-12-31	$210.43M	$74.92M	-$17.14M
2018-12-31	$150.68M	$51.40M	-$53.04M
2017-12-31	$130.37M	$47.08M	-$19.64M
2016-12-31	$112.82M	$10.29M	-$75.70M

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	10.59%	-44.36%	-	-48.76%
2024-12-31	-	-68.02%	-270.46%	-67.03%
2023-12-31	10.32%	-43.56%	-99.93%	-33.85%
2022-12-31	-	-155.85%	-219.87%	-102.12%
2021-12-31	17.87%	-48.13%	-18.61%	-12.92%
2020-12-31	29.67%	-29.65%	-35.26%	-15.62%
2019-12-31	35.60%	-8.15%	-11.97%	-12.09%
2018-12-31	34.11%	-35.20%	-102.05%	-41.46%
2017-12-31	36.11%	-15.07%	-	-
2016-12-31	9.12%	-67.09%	-	-

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$48.72M	$212.57M
2024-12-31	$65.59M	$218.57M
2023-12-31	$91.83M	$227.50M
2022-12-31	$121.91M	$226.04M
2021-12-31	$233.47M	$184.40M
2020-12-31	$293.24M	$174.01M
2019-12-31	$104.46M	$13.00K
2018-12-31	$39.62M	$46.69M
2017-12-31	$21.26M	$56.97M
2016-12-31	$22.84M	$111.80M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$8.81M	$28.13M
2024-12-31	-$10.39M	$40.37M
2023-12-31	-$852.00K	$40.98M
2022-12-31	-$55.08M	$44.69M
2021-12-31	-$41.63M	$50.26M
2020-12-31	-$13.01M	$32.40M
2019-12-31	$3.18M	$15.85M
2018-12-31	-$24.91M	$26.79M
2017-12-31	-$23.32M	$5.15M
2016-12-31	-$34.33M	$3.45M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	-
2026-08-05	Jun 2026	-
2026-05-07	Mar 2026	-
2026-03-04	Dec 2025	-
2025-11-05	Sep 2025	-
2025-08-06	Jun 2025	-$0.43
2025-05-07	Mar 2025	-$0.54
2025-03-12	Dec 2024	-$0.52

Filings and sources

Company website: cardlytics.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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