Earnings release
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• cardlytics Cardlytics Second Quarter 2026 Financial Results Driven By Strong Operational Performance Company delivers strong second quarter results : о Revenues of $ 36.9 million ° Billings of $ 65.5 million Exhibit 99.1 ° ° Adjusted Contribution of $ 21.3 million Net Loss of $ ( 14.9 ) million and Adjusted EBITDA , a non - GAAP metric , was $ 1.7 million Atlanta , GA - August 5 , 2026 - Cardlytics , Inc. ( NASDAQ : CDLX ) , a purchase intelligence platform , today announced financial results for the second quarter ended June 30 , 2026 . " The second quarter shows that our execution is translating directly into results . We were within our guidance across all key metrics , with margins improving every single month of the quarter , ” said Amit Gupta , CEO of Cardlytics . “ We added new advertiser relationships and deepened our partnerships with existing financial institutions this quarter , reinforcing that purchase intelligence remains our core competitive advantage . We have a clear and focused path to build long - term value for our shareholders . " " We continue to execute against our game plan for sequential growth and self - sustainability , ” said David Evans , CFO of Cardlytics . " Our second quarter results were strong which shows our plan is working . " Second Quarter 2026 Financial Results • Revenue was $ 36.9 million , a decrease of 36 % year - over - year compared to $ 58.0 million in the second quarter of 2025 . Billings , a non - GAAP metric , was $ 65.5 million , a decrease of 34 % year - over - year compared to $ 98.8 million in the second quarter of 2025 . Adjusted Contribution , a non - GAAP metric , was $ 21.3 million , a decrease of 32 % year - over - year compared to $ 31.3 million in the second quarter of 2025 . • • Net Loss was $ ( 14.9 ) million in the second quarter of 2026 , compared to $ ( 9.3 ) million in the second quarter of 2025 . Adjusted EBITDA , a non - GAAP metric , was $ 1.7 million compared to $ 3.0 million in the second quarter of 2025 . • • • Net Loss per share from continuing operations was $ ( 1.50 ) per share , on a GAAP basis , compared to $ ( 1.15 ) per share , in the prior year period . Adjusted Net Loss per share , on a Non - GAAP basis , was $ ( 0.81 ) per share compared to $ ( 0.60 ) per share in the prior year period . Net cash ( used in ) provided by operating activities was $ ( 8.6 ) million , compared to $ 1.2 million in the second quarter of 2025 . Free Cash Flow , a non - GAAP metric , was $ ( 10.7 ) million , compared to $ ( 3.4 ) million in the second quarter of 2025 . Key Metrics • • Cardlytics monthly qualified users ( " MQUS " ) were 185.4 million , a decrease of 17 % year - over - year , compared to 224.5 million in the second quarter of 2025 . Cardlytics adjusted contribution per user ( " ACPU " ) was $ 0.11 compared to $ 0.14 in the second quarter of 2025 . Definitions of MQUs and ACPU are included below under the caption " Other Performance Metrics . "
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CARDLYTICS, INC. SUMMARY OF GAAP AND NON-GAAP RESULTS (UNAUDITED) (Dollars in thousands) Three Months EndedJune 30, 2026 2025 Change % Billings $ 65,469 $ 98,840 (34)% Consumer Incentives 28,587 40,799 (30)% Revenue 36,882 58,041 (36)% Partner Share and other third-party costs 15,614 26,721 (42)% Adjusted Contribution 21,268 31,320 (32)% Delivery costs 2,648 5,356 (51)% Gross Profit $ 18,620 $ 25,964 (28)% Net Loss $ (14,876) $ (9,283) (60)% Adjusted EBITDA $ 1,702 $ 2,996 (43)% Adjusted Contribution % of Billings 32.5 % 31.7 % % of Revenue 57.7 % 54.0 % Adjusted EBITDA % of Billings 2.6 % 3.0 % % of Revenue 4.6 % 5.2 % (1) Billings, Adjusted Contribution and Adjusted EBITDA are non-GAAP measures. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA." (2) Revenues, Consumer Incentives, Billings, Gross Profit, Adjusted Contribution, and Adjusted EBITDA reflect the effects of disposed businesses through the respective disposal dates. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented below under the headings "Reconciliation of GAAP Revenue to Billings," "Reconciliation of GAAP Gross Profit to Adjusted Contribution" and "Reconciliation of GAAP Net Loss to Adjusted EBITDA." Third Quarter 2026 Financial Expectations Cardlytics anticipates Billings, Revenue, Adjusted Contribution and Adjusted EBITDA to be in the following ranges (in millions, except for percentage change rates): Q3 2026 Guidance YoY Change Billings $61.0 - $67.0 (27%) - (20%) Revenue $34.0 - $39.0 (27%) - (17%) Adjusted Contribution $20.0 - $23.0 (22%) - (10%) Adjusted EBITDA $0 - $3.0 ($3.4) - ($0.4) (1) A reconciliation of Billings to GAAP Revenue on a forward-looking basis is presented below under the heading "Reconciliation of Forecasted GAAP Revenue to Billings." (2) A reconciliation of Adjusted Contribution to GAAP Gross Profit and a reconciliation of Adjusted EBITDA to Net Loss on a forward-looking basis is not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the items excluded from this non- GAAP measure. Earnings Teleconference Information Cardlytics will discuss its second quarter 2026 financial results during a live audio webcast today, August 5, 2026, at 5:00 PM ET / 2:00 PM PT. Following the completion of the call, a recorded replay of the webcast will be available on Cardlytics’ website. About Cardlytics Cardlytics (NASDAQ: CDLX) operates a purchase intelligence platform that transforms transaction data into targeted, personalized offers and rewards for consumer brands, delivered through banking and commerce platform in the United States and United Kingdom. (1)(2) (2) (2) (2) (1)(2) (2) (2) (1)(2) (1) (2) (2) 2
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We offer a range of solutions to help advertisers and publishers grow and strengthen customer loyalty. With visibility into approximately 50% of card-based transactions in the U.S. and U.K., Cardlytics enables advertisers to engage consumers at scale and drive incremental sales through our industry-leading card-linked offer network. Publisher partners can enhance their platforms with relevant and personalized offers that improve the shopping experience for their customers. Learn more at www.cardlytics.com or follow us on LinkedIn. Cautionary Language Concerning Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements related to building long-term value for shareholders and our financial guidance for the third quarter of 2026. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as"expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," or variations of these terms or the negative of these terms and similar expressions are intended to identify these forward- looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: risks related to unfavorable conditions, including, but not limited to, inflationary pressure or the imposition of tariffs and other trade protection measures, in the global economy and the industries that we serve; our quarterly operating results have fluctuated and may continue to vary from period to period; our ability to sustain our revenue growth and billings; risks related to our substantial dependence on our Cardlytics purchase intelligence platform; risks related to our substantial dependence on JPMorgan Chase Bank, National Association (“Chase”), Wells Fargo Bank, National Association (“Wells Fargo”) and a limited number of other financial institution (“FI”) partners; risks related to our ability to maintain relationships with Chase and Wells Fargo; the amount and timing of budgets by marketers, which are affected by budget cycles, economic conditions and other factors; our ability to generate sufficient revenue to offset contractual commitments to FI partners; our ability to attract new partners, including FI partners, and maintain relationships with bank processors and digital banking providers; risks related to our competitive market, including our ability to compete successfully with our current or future competitors; our ability to maintain relationships with marketers; our ability to adapt to changing market conditions, including our ability to adapt to changes in consumer habits, negotiate fee arrangements with new and existing partnersand retailers, and develop and launch new services and features; and other risks detailed in the “Risk Factors” section of our Form 10-Q filed with the Securities and Exchange Commission on August 5, 2026 and in subsequent periodic reports that we file with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These forward- looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Divestitures and Presentation On March 24, 2026 (the “Closing Date”), we completed the Bridg Sale. Pursuant to the Purchase Agreement, on the Closing Date, PAR delivered to us 1,810,222 shares of PAR’s common stock as consideration for the Bridg Sale. The results of Bridg business are presented as discontinued operations in the accompanying Condensed Consolidated Statements of Operations for all periods presented. The assets and liabilities of Bridg business have been reflected as assets and liabilities of discontinued operations in the accompanying Condensed Consolidated Balance Sheets for all prior periods presented. The Company ceased depreciating and amortizing its long-lived assets for the Bridg business which primarily included acquired intangibles assets, capitalized software, and right-of-use assets as of the held for sale date, during the three months ended March 31, 2026. Our consolidated statements of cash flows includes cash flows from discontinued operations for all periods presented. Non-GAAP Measures and Other Performance Metrics To supplement the financial measures presented in our press release and related conference call or webcast in accordance with generally accepted accounting principles in the United States (“GAAP”), we also present the following non-GAAP measures of financial performance in this press release: Billings, Adjusted Contribution, Adjusted EBITDA, Adjusted Net Loss, Adjusted Net Loss per share and Free Cash Flow, as well as certain other performance metrics, such as MQUs and ACPU. A “non-GAAP financial measure” refers to a numerical measure of our historical or future financial performance or financial position that is included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in our financial statements. We provide certain non-GAAP measures as additional information relating to our operating results as a complement to results provided in accordance with GAAP. The non-GAAP financial information presented herein should be considered in conjunction with, and not as a substitute for or superior to, the financial information presented in accordance with GAAP and should not be considered a measure of liquidity. There are significant limitations associated with the use of non-GAAP financial measures. Further, these measures may differ from the non-GAAP information, even where similarly titled, used by other companies and therefore should not be used to compare our performance to that of other companies. 3
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We have presented Billings, Adjusted Contribution, Adjusted EBITDA, Adjusted Net Loss, Adjusted Net Loss per share and Free Cash Flow as non-GAAP financial measures in this press release. Billings represents the gross amount billed to customers and marketers for services in order to generate revenue. Cardlytics purchase intelligence platform Billings is recognized gross of both Consumer Incentives and Partner Share. GAAP Revenue is recognized net of Consumer Incentives and gross of Partner Share. Adjusted Contribution measures the degree by which Revenue generated from our marketers exceeds the cost to obtain the purchase data and the digital advertising space from our partners. Adjusted Contribution demonstrates how incremental Revenue on our platforms generates incremental amounts to support our sales and marketing, research and development, general and administrative and other investments. Adjusted Contribution is calculated by taking our total Revenue less our Partner Share and other third-party costs. Adjusted Contribution does not take into account all costs associated with generating Revenue from advertising campaigns, including sales and marketing expenses, research and development expenses, general and administrative expenses and other expenses, which we do not take into consideration when making decisions on how to manage our advertising campaigns. Management views Adjusted Contribution as the most relevant metric to measure the financial performance as it reflects the dollars we keep after all of our partners are paid. Adjusted EBITDA represents our Net Loss before interest expense, net; depreciation and amortization; stock-based compensation expense continuing operations; separation costs and reduction in force; foreign currency (gain) loss; loss on investment; loss (gain) on divestiture; change in contingent consideration and loss (income) from discontinued operations and, in applicable periods, certain other income and expense items, such as impairment of goodwill and intangible assets; income tax benefit; gain on debt extinguishment; and deferred implementation costs. Adjusted Net Loss represents our Net Loss from continuing operations before stock-based compensation expense continuing operations; foreign currency loss (gain); separation costs and reduction in force; loss on investment; gain on divestiture; change in contingent consideration; and, in applicable periods, certain other income and expense items, such as impairment of goodwill, gain on debt extinguishment and intangible assets, and income tax benefit. We define Adjusted Net Loss per share as Adjusted Net Loss divided by our weighted-average common shares outstanding, diluted. We define Free Cash Flow as net cash (used in) provided by operating activities, plus acquisition of property and equipment and capitalized software development costs and, in applicable periods, acquisition of patents, and legal indemnification payments. We believe free cash flow is useful to measure the funds generated in a given period that are available for distribution or to sustain the business. We believe this supplemental information enhances stockholders' ability to evaluate our performance. We believe the use of non-GAAP financial measures, as a supplement to GAAP measures, is useful to investors in that they eliminate items that are either not part of our core operations or do not require a cash outlay, such as stock-based compensation expense. Management uses these non-GAAP financial measures when evaluating operating performance and for internal planning and forecasting purposes. We believe that these non-GAAP financial measures help indicate underlying trends in the business, are important in comparing current results with prior period results and are useful to investors and financial analysts in assessing operating performance. We define MQUs as targetable customers that have made a transaction using their account with an FI Partner in a given month, excluding pilot supply during the ramp up period, and whose transaction data was shared with Cardlytics. We then calculate a monthly average of these MQUs for the periods presented. We believe that the number of MQUs is an indicator of the Cardlytics purchase intelligence platform's ability to drive engagement and is reflective of the consumer base and insights that we offer to marketers. We define ACPU as the Cardlytics purchase intelligence platform Adjusted Contribution generated in the applicable period, divided by Cardlytics average MQUs in the applicable period. We believe that Adjusted Contribution is the most relevant metric as it reflects the value Cardlytics keeps after subtracting out rewards, Partner Share and other third-party costs. We believe that ACPU measures the Cardlytics purchase intelligence platform's efficiency in converting marketer budgets into the value generated by customer engagement. 4
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CARDLYTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Amounts in thousands, except per share amounts) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Revenue $ 36,882 $ 58,041 $ 71,201 $ 114,476 Costs and expenses: Partner Share and other third-party costs 15,614 26,721 30,211 55,825 Delivery costs 2,648 5,356 5,229 11,142 Sales and marketing expense 6,605 8,943 13,366 19,324 Research and development expense 5,540 9,867 11,970 20,145 General and administrative expense 7,855 12,238 16,136 25,181 Change in contingent consideration — 42 — 102 Loss (gain) on divestiture — 200 — (5,150) Depreciation and amortization expense 4,061 4,243 8,004 8,591 Total costs and expenses 42,323 67,610 84,916 135,160 Operating loss (5,441) (9,569) (13,715) (20,684) Other (expense) income: Interest expense, net (2,281) (1,943) (4,814) (3,773) Loss on investment (1,102) — (2,387) — Foreign currency gain (loss) 165 5,449 (1,541) 8,076 Total other (expense) income (3,218) 3,506 (8,742) 4,303 Loss before income taxes from continuing operations (8,659) (6,063) (22,457) (16,381) Income tax benefit — — — — Loss from continuing operations (8,659) (6,063) (22,457) (16,381) (Loss) income from discontinued operations (6,217) (3,220) 3,101 (6,184) Net loss $ (14,876) $ (9,283) $ (19,356) $ (22,565) Net (loss) income per share, basic and diluted: Continuing operations $ (1.50) $ (1.15) $ (3.99) $ (3.13) Discontinued operations $ (1.08) $ (0.61) $ 0.55 $ (1.18) Weighted-average common shares outstanding, basic and diluted 5,759 5,275 5,625 5,230 CARDLYTICS, INC. STOCK-BASED COMPENSATION EXPENSE (UNAUDITED) (Amounts in thousands) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Delivery costs $ 106 $ 381 $ 374 $ 854 Sales and marketing expense 341 738 1,049 2,343 Research and development expense 384 2,933 2,377 5,733 General and administrative expense 1,524 2,554 3,116 5,616 Discontinued operations — 895 267 1,649 Total stock-based compensation expense $ 2,355 $ 7,501 $ 7,183 $ 16,195 5
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CARDLYTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except par value amounts) June 30, 2026 December 31,2025 Assets Current assets: Cash and cash equivalents $ 28,039 $ 48,719 Accounts receivable and contract assets, net 67,644 82,458 Other receivables 2,855 2,474 Prepaid expenses and other assets 2,533 3,213 Current assets of discontinued operations — 415 Total current assets 101,071 137,279 Long-term assets: Property and equipment, net 1,617 1,931 Right-of-use assets under operating leases, net 4,096 4,723 Goodwill 110,305 110,305 Capitalized software development costs, net 16,577 19,005 Other long-term assets, net 1,119 1,235 Noncurrent assets of discontinued operations — 11,163 Total assets $ 234,785 $ 285,641 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 1,245 $ 2,655 Accrued liabilities: Accrued compensation 4,828 6,038 Accrued expenses 12,320 7,125 Partner Share liability 18,503 24,792 Consumer Incentive liability 21,812 32,144 Deferred revenue and other liabilities 2,194 2,541 Current operating lease liabilities 1,448 1,438 Current liabilities of discontinued operations — 1,657 Total current liabilities $ 62,350 $ 78,390 Long-term liabilities: Convertible senior notes, net $ 169,411 $ 168,850 Lines of credit 15,000 40,070 Long-term operating lease liabilities 4,028 4,748 Long-term liabilities of discontinued operations — 91 Total liabilities $ 250,789 $ 292,149 Stockholders’ deficit: Common stock, $0.0001 par value—10,000 shares authorized and 5,808 and 5,451shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. $ 10 $ 10 Additional paid-in capital 1,408,082 1,399,542 Accumulated other comprehensive loss (676) (1,996) Accumulated deficit (1,423,420) (1,404,064) Total stockholders’ deficit (16,004) (6,508) Total liabilities and stockholders’ deficit $ 234,785 $ 285,641 6
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CARDLYTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Amounts in thousands) Six Months EndedJune 30, 2026 2025 Operating activities Net loss $ (19,356) $ (22,565) Adjustments to reconcile net loss to net cash used in operating activities: Credit loss expense 771 1,833 Depreciation and amortization 8,479 12,566 Amortization of financing costs charged to interest expense 657 804 Amortization of right-of-use assets 630 1,274 Gain on divestiture (13,858) (5,150) Stock-based compensation expense 7,183 16,195 Change in contingent consideration — 102 Loss on investments 2,387 — Other non-cash expense (income), net 1,583 (8,076) Change in operating assets and liabilities: Accounts receivable and contracts assets, net 13,217 10,165 Prepaid expenses and other assets 570 (1,625) Accounts payable (2,164) (1,837) Other accrued expenses 2,258 920 Partner Share liability (6,278) (5,913) Consumer Incentive liability (10,318) (4,174) Net cash used in operating activities (14,239) (5,481) Investing activities Acquisition of property and equipment (30) (441) Capitalized software development costs (4,379) (8,320) Proceeds from sale of marketable securities, net 23,029 — Proceeds from divestiture, net of cash divested — 200 Net cash provided by (used in) investing activities 18,620 (8,561) Financing activities Proceeds from issuance of debt 5,000 — Settlement of contingent consideration — (5,000) Principal payment of debt (30,070) — Debt issuance costs (30) (93) Net cash used in financing activities (25,100) (5,093) Effect of exchange rates on cash and cash equivalents 39 286 Net decrease in cash and cash equivalents (20,680) (18,849) Cash and cash equivalents — Beginning of period 48,719 65,594 Cash and cash equivalents — End of period $ 28,039 $ 46,745 7
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CARDLYTICS, INC. RECONCILIATION OF GAAP REVENUE TO BILLINGS (UNAUDITED) (Amounts in thousands) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Revenue $ 36,882 $ 58,041 $ 71,201 $ 114,476 Plus: Consumer Incentives 28,587 40,799 52,414 76,480 Billings $ 65,469 $ 98,840 $ 123,615 $ 190,956 (1) Revenue and Billings reflect the effects of disposed businesses through the respective disposal dates. Refer to Note 3—Discontinued Operations to our consolidated financial statements in our Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026 for additional information regarding the divestiture of the Bridg business. CARDLYTICS, INC. RECONCILIATION OF GAAP GROSS PROFIT TO ADJUSTED CONTRIBUTION (UNAUDITED) (Amounts in thousands) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Revenue $ 36,882 $ 58,041 $ 71,201 $ 114,476 Minus: Partner Share and other third-party costs 15,614 26,721 30,211 55,825 Delivery costs 2,648 5,356 5,229 11,142 Gross Profit 18,620 25,964 35,761 47,509 Plus: Delivery costs 2,648 5,356 5,229 11,142 Adjusted Contribution $ 21,268 $ 31,320 $ 40,990 $ 58,651 (1) Revenue, Partner Share and other third-party costs, Delivery costs, Gross Profit and Adjusted Contribution reflect the effects of disposed businesses through the respective disposal dates. Refer to Note 3—Discontinued Operations to our consolidated financial statements in our Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026 for additional information regarding the divestiture of the Bridg business. (2) Stock-based compensation expense recognized in consolidated delivery costs totaled $0.1 million and $0.4 million during the three months ended June 30, 2026 and 2025, respectively. Stock-based compensation expense recognized in consolidated delivery costs totaled $0.4 million and $0.9 million during the six months ended June 30, 2026 and 2025, respectively. (1) (1) (1) (1) (1)(2) (1) (1)(2) (1) 8
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CARDLYTICS, INC. RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA (UNAUDITED) (Amounts in thousands) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Net Loss $ (14,876) $ (9,283) $ (19,356) $ (22,565) Plus: Interest expense, net 2,281 1,943 4,814 3,773 Depreciation and amortization 4,061 4,243 8,004 8,591 Stock-based compensation expense continuingoperations 2,355 6,606 6,916 14,546 Separation costs and reduction in force 727 1,474 727 1,474 Foreign currency (gain) loss (165) (5,449) 1,541 (8,076) Loss on investment 1,102 — 2,387 — Loss (gain) on divestiture — 200 — (5,150) Change in contingent consideration — 42 — 102 Loss (income) from discontinued operations 6,217 3,220 (3,101) 6,184 Adjusted EBITDA $ 1,702 $ 2,996 $ 1,932 $ (1,121) CARDLYTICS, INC. RECONCILIATION OF GAAP NET LOSS FROM CONTINUING OPERATIONS TO ADJUSTED NET LOSS AND ADJUSTED NET LOSS PER SHARE (UNAUDITED) (Amounts in thousands, except per share amounts) Three Months Ended June 30, 2026 Loss per share 2025 Loss per share Net Loss from continuing operations $ (8,659) $ (1.50) $ (6,063) $ (1.15) Plus: Stock-based compensation expense continuing operations 2,355 0.41 6,606 1.25 Foreign currency gain (165) (0.03) (5,449) (1.03) Separation costs and reduction in force 727 0.13 1,474 0.28 Loss on investment 1,102 0.19 — — Loss on divestiture — — 200 0.04 Change in contingent consideration — — 42 0.01 Adjusted Net Loss $ (4,640) $ (0.81) $ (3,190) $ (0.60) Weighted-average number of shares of common stock used incomputing Adjusted Net Loss per share: Weighted-average common shares outstanding, basic and diluted 5,759 5,275 9
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Six Months Ended June 30, 2026 Loss per share 2025 Loss per share Net Loss from continuing operations $ (22,457) $ (3.99) $ (16,381) $ (3.13) Plus: Stock-based compensation expense continuing operations 6,916 1.23 14,546 2.78 Foreign currency loss (gain) 1,541 0.27 (8,076) (1.54) Separation costs and reduction in force 727 0.13 1,474 0.28 Loss on investment 2,387 0.42 — — Gain on divestiture — — (5,150) (0.98) Change in contingent consideration — — 102 0.02 Adjusted Net Loss $ (10,886) $ (1.94) $ (13,485) $ (2.58) Weighted-average number of shares of common stock used incomputing Adjusted Net Loss per share: Weighted-average common shares outstanding, basic and diluted 5,625 5,230 CARDLYTICS, INC. RECONCILIATION OF NET CASH USED IN OPERATING ACTIVITIES TO FREE CASH FLOW (UNAUDITED) (Amounts in thousands) Three Months EndedJune 30, Six Months EndedJune 30, 2026 2025 2026 2025 Net cash (used in) provided by operating activities $ (8,597) $ 1,227 $ (14,239) $ (5,481) Plus: Acquisition of property and equipment (2) (322) (30) (441) Capitalized software development costs (2,103) (4,336) (4,379) (8,320) Free Cash Flow $ (10,702) $ (3,431) $ (18,648) $ (14,242) CARDLYTICS, INC. RECONCILIATION OF FORECASTED GAAP REVENUE TO BILLINGS (UNAUDITED) (Amounts in thousands) Q3 2026 Revenue $34.0 - $39.0 Plus: Consumer Incentives $27.0 - 28.0 Billings $61.0 - $67.0 Contacts: Public Relations: pr@cardlytics.com Investor Relations: ir@cardlytics.com 10