Cardlytics Reports 36% Revenue Decline and Increased Net Loss in Q2 2026

Cardlytics, Inc. reported a significant decline in financial performance for the second quarter of 2026, with revenues totaling $36.9 million, a decrease of 36% compared to $58.0 million in the same period last year. For the first half of 2026, revenues were $71.2 million, down 38% from $114.5 million in the first half of 2025. The company also recorded a net loss of $14.9 million for the quarter, compared to a loss of $9.3 million in the prior year, and a total net loss of $19.4 million for the six months ended June 30, 2026, compared to a loss of $22.6 million for the same period in 2025.

The decline in revenue was attributed primarily to a significant drop in billings, which fell by 34% to $65.5 million in the second quarter and by 35% to $123.6 million in the first half of 2026. This decrease was largely driven by changes in bank partner relationships, which impacted the company's ability to generate revenue. Additionally, consumer incentives decreased by 30% in the second quarter and 31% in the first half, reflecting strategic decisions aimed at optimizing performance for advertisers.

In terms of operational developments, Cardlytics completed the divestiture of its Bridg platform in March 2026, which has been classified as a discontinued operation. The sale resulted in a gain of $13.9 million, although the company also incurred divestiture costs of $2.0 million. The divestiture is expected to allow Cardlytics to focus more on its core purchase intelligence platform, which operates in the U.S. and U.K. markets. The company reported a decrease in Monthly Qualified Users (MQUs) to 185,423 in the second quarter, down from 224,464 a year earlier, primarily due to the exit of a financial institution partner.

Looking ahead, Cardlytics anticipates continued challenges in the near term, particularly in light of macroeconomic conditions that may affect consumer spending and advertising budgets. The company has indicated that it may require additional capital resources to support its growth initiatives and operational needs. As of June 30, 2026, Cardlytics had cash and cash equivalents of $28.0 million, down from $48.7 million at the end of 2025, and net borrowings of $15.0 million under its revolving line of credit. The company remains focused on enhancing its platform and expanding its relationships with financial institution partners and marketers.