Ad platform operator Cardlytics ( NASDAQ: CDLX ) has slipped 4.9% after hours after its revenue declined and missed expectations for the fourth quarter of 2022 .
Revenues dipped more than 8% to $82.5M, though the company wrapped the year with "double-digit" year-over-year growth, Chief Financial Officer Andy Christiansen noted. Billings fell nearly 6%, to $126.1M.
Attributable net loss as reported widened to $378.3M from a year-ago loss of $11.8M. On a non-GAAP basis, the loss widened to $9.7M from a year-ago loss of $5M.
Adjusted earnings before interest, taxes, depreciation and amortization swung to a loss of $6.1M from a year-ago gain of $2.6M.
Monthly active users for the quarter rose 4.2% to 182.7M; average revenue per user fell 7.8% to $0.45.
The company is guiding to billings of 84M-$93M in the first quarter, with GAAP revenues of $54M-$63M (addding up to $29M-$31M in consumer incentives).
“We see a path to modest growth for 2023, especially after we lap the exit of a large customer from our channel in the second half of the year. We believe our numerous product initiatives that we are putting into place are setting us up for short and long-term success,” said CEO Karim Temsamani.
Conference call to come at 5 p.m. ET .
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Cardlytics dips 5% as revenues miss, loss widens