CDLX - Cardlytics Reports Q4 and FY 2023 Financial Results

2024-03-14 18:01:27 ET

DENVER, Colo., Mar 14, 2024 ( 247marketnews.com )- Cardlytics, Inc. (NASDAQ: CDLX ) reported its fourth quarter and full year 2023 financial results.

Total fourth quarter revenue increased 8.1%, to $89.2 million, compared to $82.5 million in 2022, while total 2023 revenue was $309.2 million, an increase of 3.6% over 2022’s $298.5 million.

2023 annual billings reached $453.4 million, an increase of 2.5% over 2022’s $442.5 million.

Adjusted 2023 EBITDA was $3.8 million, an increase of $48.9 million compared to 2022’s $45.2 million loss, while 2023 adjusted net loss was $(11.4) million, or $(0.31) per diluted share, based on 36.5 million weighted-average common shares outstanding in 2023, compared to a Adjusted Net Loss of $(60.3) million, or $(1.80) per diluted share, based on 33.4 million weighted-average common shares outstanding in 2022.

However, adjusted fourth quarter 2023 net income was $5.7 million, or $0.14 per diluted share, based on 39.5 million weighted-average common shares outstanding, compared to its adjusted net $9.7 million loss, or $(0.29) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2022.

“The fourth quarter capped a transformational year for Cardlytics,” said Karim Temsamani, CEO of Cardlytics. “With our cost structure rebalanced, we can now focus on building a best-in-class platform with top-tier targeting and a differentiated user experience that will help deliver the best outcomes for our partners, their customers and our advertisers.”

“Achieving growth and improving our capital structure are our top priorities,” said Alexis DeSieno, CFO of Cardlytics. “In 2023, we turned to full year positive Adjusted EBITDA for the first time since 2019, and our Q1 guidance implies further acceleration. We are on a path to double-digit billings growth in 2024 and positive operating cash flow on an annual basis.”

For further CDLX info, please click here .

The post Cardlytics Reports Q4 and FY 2023 Financial Results appeared first on 24/7 MarketNews .

For further details see: