Cardlytics, Inc. reported a significant decline in its financial performance for the fiscal year ending December 31, 2025, with total revenue decreasing by 16.2% to $233.3 million, down from $278.3 million in 2024. The company's billings also fell by 13.3% to $385.0 million, compared to $443.8 million in the previous year. The decrease in revenue was attributed to a $58.9 million drop in billings, which was partially offset by a smaller decline in consumer incentives, which decreased by $13.9 million. The company recorded a net loss of $103.5 million for 2025, an improvement from the $189.3 million loss reported in 2024.
In terms of operational metrics, Cardlytics saw an increase in its Monthly Qualified Users (MQUs), which rose by 33.7 million to 224.2 million in 2025, driven by organic growth from existing financial institution partners and the addition of a new partner in the U.K. However, the company’s Adjusted Contribution per User (ACPU) decreased by 25% to $0.50, primarily due to lower billings and the ramp-up of the new financial institution partner. The company maintained a workforce of 275 employees as of December 31, 2025, a reduction from previous years, reflecting ongoing cost-cutting measures.
Strategically, Cardlytics announced a definitive agreement to sell its Bridg platform to PAR Technology Corporation, a move aimed at streamlining operations and focusing on its core Cardlytics platform. The sale is expected to close in early 2026, pending customary closing conditions. The company also reported a non-cash gain of $4.8 million related to the decommissioning of the Dosh app, which was part of its divestiture strategy.
Looking ahead, Cardlytics faces challenges in maintaining revenue growth amid a competitive landscape and macroeconomic pressures. The company has expressed intentions to enhance its marketing efforts and expand its network of financial institution partners to drive future growth. However, the ongoing economic uncertainty and potential changes in consumer spending patterns may impact its ability to achieve these goals. The company’s management remains focused on optimizing its operations and improving profitability, although it has not provided specific guidance for future financial performance.
About Cardlytics, Inc.
Cardlytics, Inc. operates a commerce media platform that leverages purchase data from financial institutions and merchants to deliver targeted advertising and loyalty marketing solutions. Its core offerings include the Cardlytics platform, which enables marketers to reach consumers via digital banking channels, and the Bridg platform, which utilizes point-of-sale data for analytics and targeted campaigns. The company focuses on enhancing customer engagement, measuring marketing impact, and expanding its partner network across various industries.
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