Cardlytics Inc Stock Research

Market Summary

USD2.72+0.05

Delayedas of 27 Mar 2023, 02:00 pm

1.87%

CDLX Stock Price

CDLX RSI Chart

CDLX Valuation

Market Cap

88.0M

Price/Earnings (Trailing)

-0.19

Price/Sales (Trailing)

0.29

EV/EBITDA

0.08

Price/Free Cashflow

-1.6

CDLX Price/Sales (Trailing)

CDLX Profitability

EBT Margin

-156.33%

Return on Equity

-219.87%

Return on Assets

-67.31%

Free Cashflow Yield

-62.6%

CDLX Fundamentals

CDLX Revenue

Revenue (TTM)

298.5M

Revenue Y/Y

-8.38%

Revenue Q/Q

13.47%

CDLX Earnings

Earnings (TTM)

-465.3M

Earnings Y/Y

-3.1K%

Earnings Q/Q

-6.1K%

Price Action

52 Week Range

2.5761.83

(Low)(High)

Last 7 days

-20.8%

Last 30 days

-56.7%

Last 90 days

-44.6%

Trailing 12 Months

-95.7%

CDLX Financial Health

Current Ratio

Debt/Equity

0.33

Debt/Cashflow

-0.2

CDLX Investor Care

Buy Backs (1Y)

0.46%

Diluted EPS (TTM)

-2.97

Peers (Alternatives to Cardlytics)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CHTR	54.3B	54.0B	-10.11%	-38.51%	10.75	1.01	4.53%	8.62%
OMC	17.8B	14.3B	-4.59%	5.37%	13.49	1.24	0.00%	-6.49%
SIRI	14.7B	9.0B	-14.32%	-41.38%	12.09	1.63	3.53%	-7.69%
IPG	13.5B	10.9B	-4.05%	-1.69%	14.44	1.24	6.71%	-1.55%
MID-CAP
NXST	6.3B	5.2B	-5.92%	-2.26%	6.48	1.21	12.10%	16.37%
DISH	4.6B	16.7B	-33.10%	-71.68%	1.96	0.28	-6.72%	-3.38%
SMALL-CAP
CRTO	1.9B	2.0B	-12.63%	8.83%	210.69	0.94	-10.52%	-93.34%
TTGT	1.0B	297.5M	-8.85%	-56.76%	24.71	3.46	12.93%	4284.51%
CCO	738.0M	2.5B	-36.42%	-70.27%	-5.57	0.29	10.71%	77.73%
IHRT	595.8M	3.9B	-46.88%	-79.34%	-2.25	0.15	9.95%	-66.25%
EEX	244.0M	325.9M	-5.99%	-0.82%	2.45	0.75	123.99%	195.03%
SCOR	102.2M	376.4M	-5.13%	-58.27%	-1.54	0.27	2.56%	-33.02%
CDLX	88.0M	298.5M	-56.73%	-95.70%	-0.19	0.29	11.76%	-261.89%
SGRP	40.0M	256.6M	-3.79%	-5.93%	-28.86	0.16	0.62%	-122.10%
CREX	13.9M	38.3M	-12.65%	-25.48%	6.77	0.36	112.29%	53.70%

Financials for Cardlytics

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-2.5%	298,542,000	306,088,000	298,366,000	281,814,000	267,116,000
S&GA Expenses	-2.8%	74,745,000	76,918,000	75,362,000	70,442,000	65,996,000
R&D Expenses	5.8%	54,435,000	51,445,000	48,824,000	44,177,000	38,104,000
EBITDA	-491.7%	-434,819,000	-73,490,000	-128,992,000	-52,284,000	-
EBITDA Margin	-506.6%	-1.46	-0.24	-0.43	-0.19	-
Earnings Before Taxes	-331.6%	-466,710,000	-108,130,000	-158,926,000	-78,496,000	-136,429,000
EBT Margin	-342.5%	-1.56	-0.35	-0.53	-0.28	-
Interest Expenses	31.6%	-5,653,000	-8,266,000	-10,465,000	-12,563,000	-
Net Income	-370.8%	-465,264,000	-98,820,000	-149,616,000	-70,632,000	-128,565,000
Net Income Margin	-382.7%	-1.56	-0.32	-0.50	-0.25	-
Free Cahsflow	-26.9%	-55,075,000	-43,411,000	-39,589,000	-47,810,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-35.2%	691	1,066	1,090	1,231	1,264
Current Assets	0.4%	250	249	264	319	359
Cash Equivalents	-11.9%	122	139	157	208	233
Net PPE	-16.7%	6.00	7.00	9.00	10.00	11.00
Goodwill	-47.0%	353	666	666	748	743
Liabilities	-1.3%	480	486	525	520	573
Current Liabilities	-2.3%	249	255	294	247	327
Long Term Debt	-	184	-	-	-	-
Shareholder's Equity	-63.5%	212	581	564	712	691
Retained Earnings	-63.2%	-976	-598	-604	-478	-522
Additional Paid-In Capital	1.1%	1,183	1,169	1,163	1,188	1,213
Shares Outstanding	-2.5%	33.00	34.00	34.00	-	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-30.3%	-53.90	-41.36	-37.38	-45.68	-38.52
Share Based Compensation	-0.8%	45.00	45.00	56.00	57.00	50.00
Cashflow From Investing	1.6%	-15.76	-16.02	-15.59	-359	-506
Cashflow From Financing	-1.0%	-39.99	-39.58	-39.21	2.00	486
Buy Backs	-25.0%	40.00	53.00	53.00	0.00	-

Risks for CDLX

What is the probability of a big loss on CDLX?

99.2%

Probability that Cardlytics stock will be more than 20% underwater in next one year

79.2%

Probability that Cardlytics stock will be more than 30% underwater in next one year.

77.7%

Probability that Cardlytics stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CDLX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Cardlytics was unfortunately bought at previous high price.

Drawdowns

Returns for CDLX

Cumulative Returns on CDLX

-30.5%

5-Year Cumulative Returns

-59.3%

3-Year Cumulative Returns

What are the long-term rolling returns for CDLX?

FIve years rolling returns for Cardlytics.

Annualized Returns

Which funds bought or sold CDLX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	BAILLIE GIFFORD & CO	added	30.69	-2,029,650	8,301,350	0.01%
2023-02-28	Voya Investment Management LLC	unchanged	-	-45,999	73,001	-%
2023-02-22	CVA Family Office, LLC	unchanged	-	-2,110	2,890	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-4,000	-	-%
2023-02-15	NOMURA HOLDINGS INC	unchanged	-	-203,000	324,000	-%
2023-02-15	MetLife Investment Management, LLC	unchanged	-	-62,966	101,034	-%
2023-02-15	GAMCO INVESTORS, INC. ET AL	sold off	-100	-152,000	-	-%
2023-02-15	PERSONAL CAPITAL ADVISORS CORP	unchanged	-	-142,297	227,703	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	added	66.56	7,854	313,854	-%
2023-02-15	JANE STREET GROUP, LLC	new	-	313,322	313,322	-%

Latest Funds Activity

Are funds buying CDLX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CDLX

No. of Funds

Cardlytics News

Schedule 13G FIlings of Cardlytics

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	683 capital management, llc	5.7%	1,883,020	SC 13G/A
Feb 14, 2023	cas investment partners, llc	16.3%	5,416,116	SC 13G/A
Feb 09, 2023	vanguard group inc	7.21%	2,392,757	SC 13G/A
Feb 07, 2023	blackrock inc.	8.2%	2,724,485	SC 13G/A
Sep 09, 2022	wellington management group llp	5.93%	1,951,407	SC 13G/A
Jul 21, 2022	683 capital management, llc	6.4%	2,176,659	SC 13G
Jun 03, 2022	jpmorgan chase & co	0.4%	153,697	SC 13G/A
Feb 14, 2022	cas investment partners, llc	15.6%	5,186,466	SC 13G/A
Feb 09, 2022	vanguard group inc	8.73%	2,905,042	SC 13G/A
Feb 04, 2022	wellington management group llp	11.58%	3,854,015	SC 13G/A

CDLX Fair Value

Cardlytics fair value in different scenarios

The table shows the Fair Value estimates for Cardlytics for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	4.76 75.00%	5.66 108.09%	7.74 184.56%	10.32 279.41%	12.84 372.06%
Very High Inflation	- -	- -	- -	- -	- -

Historical Cardlytics Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Cardlytics

View All Filings

Date Filed	Form Type	Document
Mar 22, 2023	8-K	Current Report
Mar 14, 2023	8-K	Current Report
Mar 01, 2023	POSASR	POSASR
Mar 01, 2023	POS AM	POS AM
Mar 01, 2023	8-K	Current Report
Mar 01, 2023	10-K	Annual Report
Feb 15, 2023	SC 13G/A	Major Ownership Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 07, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for CDLX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-12	Christiansen Andrew	acquired	-	-	8,137	chief financial officer
2023-01-12	Lynton Nicholas Hollmeyer	acquired	-	-	6,312	chief legal & privacy officer
2022-12-09	Lynton Nicholas Hollmeyer	acquired	-	-	1,250	chief legal & privacy officer
2022-12-09	Christiansen Andrew	acquired	-	-	1,875	chief financial officer
2022-11-09	BALEN JOHN V	bought	11,398	3.7995	3,000	-
2022-11-08	Grimes Scott D.	sold	-23.52	3.92	-6.00	-
2022-11-08	Christiansen Andrew	sold	-271	3.995	-68.00	chief financial officer
2022-11-08	Lynton Nicholas Hollmeyer	sold	-3.92	3.92	-1.00	chief legal & privacy officer
2022-11-08	BALEN JOHN V	bought	23,698	3.9497	6,000	-
2022-11-08	Grimes Scott D.	sold	-1,968	3.985	-494	-

About Cardlytics

Lynne M. Laube

www.cardlytics.com

590

Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing. The company was incorporated in 2008 and is headquartered in Atlanta, Georgia.

CDLX Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 298,542	$ 267,116	$ 186,892
Costs and expenses:
Partner Share and other third-party costs	155,507	141,273	109,308
Delivery costs	30,403	22,503	14,310
Sales and marketing expense	74,745	65,996	45,307
Research and development expense	54,435	38,104	17,532
General and administration expense	81,446	66,222	46,532
Acquisition and integration costs (benefits)	(2,874)	24,372	0
Change in fair value of contingent consideration	(128,174)	1,374	0
Impairment of goodwill and intangible assets	453,288	0	0
Depreciation and amortization expense	37,544	29,871	7,826
Total costs and expenses	756,320	389,715	240,815
Operating loss	(457,778)	(122,599)	(53,923)
Other Income and Expenses [Abstract]
Interest expense, net	(2,556)	(12,563)	(3,048)
Other Nonoperating Income (Expense)	(6,376)	(1,267)	1,549
Nonoperating Income (Expense), Total	(8,932)	(13,830)	(1,499)
Loss before income taxes	(466,710)	(136,429)	(55,422)
Income tax benefit	1,446	7,864	0
Net loss	(465,264)	(128,565)	(55,422)
Net loss attributable to common stockholders	$ (465,264)	$ (128,565)	$ (55,422)
Earnings Per Share, Basic	$ (13.92)	$ (3.99)	$ (2.04)
Weighted-average common shares outstanding, basic (in shares)	33,419	32,202	27,213

CDLX Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 121,905	$ 233,467
Restricted cash	80	95
Accounts receivable and contract assets, net	115,609	111,085
Other receivables	4,470	6,097
Prepaid expenses and other assets	7,978	7,981
Total current assets	250,042	358,725
Long-term assets:
Property and equipment, net	5,916	11,273
Right-of-use assets under operating leases, net	6,571	10,196
Intangible assets, net	53,475	125,550
Goodwill	352,721	742,516
Capitalized software development costs, net	19,925	13,131
Deferred implementation costs, net	0	0
Other long-term assets, net	2,586	2,406
Total assets	691,236	1,263,797
Current liabilities:
Accounts payable	3,765	4,619
Accrued liabilities:
Accrued compensation	10,486	12,136
Accrued expenses	21,335	19,620
Partner Share liability	48,593	46,595
Consumer Incentive liability	53,983	52,602
Deferred revenue	1,751	3,280
Current operating lease liabilities	4,910	6,028
contingent consideration liability, current	(104,121)	(182,470)
Total current liabilities	248,944	327,350
Convertible Debt, Noncurrent	226,047	184,398
Long-term liabilities:
Contract with Customer, Liability, Noncurrent	334	173
Long-term operating lease liabilities	4,306	6,801
contingent consideration liability, long term	0	(49,825)
Other long-term liabilities	0	4,550
Liabilities	479,631	573,097
Stockholders’ equity:
Common stock, $0.0001 par value—100,000 shares authorized and 33,534 and 33,477 shares issued and outstanding as of December 31, 2021 and December 31, 2022, respectively	9	9
Additional paid-in capital	1,182,568	1,212,823
Accumulated other comprehensive income	5,598	486
Accumulated deficit	(976,570)	(522,618)
Total stockholders’ equity	211,605	690,700
Total liabilities and stockholders’ equity	$ 691,236	$ 1,263,797