Summary of Cardlytics (CDLX) Q1 2026 Earnings Call

1Key Financial Results and Metrics

Billings: $58.1 million (37% decrease year-over-year); $62.3 million including Bridg results.

Revenue: $34.3 million (39% decrease year-over-year); $38.5 million including Bridg results.

Adjusted Contribution: $19.7 million (28% decrease year-over-year); $23.3 million including Bridg results. Adjusted contribution margin reached 60.6%, the highest on record.

Adjusted EBITDA: Positive $0.2 million (improvement from negative $4.1 million year-over-year); negative $2.2 million including Bridg results.

Adjusted Operating Expenses: $19.5 million (38% decrease year-over-year); $25.5 million including Bridg results.

Cash Position: Ended Q1 with $35.7 million in cash and cash equivalents.

2Strategic Updates and Business Highlights

Execution Focus: 2026 is positioned as a year of execution with a focus on operational efficiency and cost reduction.

Network Stabilization: Supply has stabilized, with existing financial institution (FI) partners engaging in growth opportunities.

New Partnerships: Onboarding new cardholder portfolios with a larger FI partner and expanding incentive programs with neobanks.

CRP Growth: The Cardlytics Rewards Platform is seeing month-over-month supply growth with three live partners and discussions with larger partners.

Advertiser Engagement: Strong performance from new enterprise advertisers, particularly in telecom, gas, and convenience sectors.

U.K. Performance: Revenue surged over 21% year-over-year, with strong advertiser sentiment and diversification of the partner base.

3Forward Guidance and Outlook

Q2 2026 Guidance: Expecting billings between $61 million and $67 million, revenue between $35 million and $40 million, and adjusted contribution between $20 million and $23 million. Adjusted EBITDA guidance ranges from negative $2.7 million to positive $1.3 million.

Commitment to Growth: Focus on sequential growth and self-sustainability throughout 2026.

4Challenges and Points of Concern

Declining Metrics: Significant year-over-year declines in billings and revenue, particularly following the departure of Bank of America.

Sector Pressures: Budget pressures in the travel and hospitality sectors are causing delays in approvals and spending.

Future Margin Expectations: Anticipation of a decline in adjusted contribution margin due to the divestiture of Bridg.

5Notable Q&A Insights

No questions were posed during the Q&A session, indicating either a lack of immediate concerns from analysts or a potential communication issue during the call. Overall, Cardlytics demonstrated a commitment to improving operational efficiency and executing its strategic priorities despite facing significant year-over-year declines in key financial metrics and challenges in certain sectors. The company remains focused on achieving sequential growth and enhancing its technology platform.