Q4 2024 Cardlytics Inc Earnings Call Transcript
Key Points
- Cardlytics Inc (CDLX) exceeded the high end of their guidance across all metrics in Q4 2024, driven by higher-than-expected pipeline wins and improved platform delivery.
- The company signed a new neobank partner in Q4, one of the fastest-growing fintechs in the US, and expects to be at scale with them by the end of Q1 2025.
- Cardlytics Inc (CDLX) saw strong double-digit growth in the UK, particularly in the everyday spend, retail, and travel industries.
- The company is making progress on its turnaround plan, including divesting noncore businesses like Dosh and reinvesting in areas such as partnerships and data engineering.
- Cardlytics Inc (CDLX) has a strong liquidity position with over $100 million available, ensuring the ability to fund operations and meet debt obligations.
- Cardlytics Inc (CDLX) faced a 11.2% decrease in total billings in Q4 2024 compared to the previous year, primarily due to reductions in key accounts.
- The company's US revenue decreased by 19.9% due to lower billings and higher redemptions.
- Bridg revenue declined by 12.7% compared to the prior year due to the loss of key accounts in early 2024.
- Adjusted EBITDA declined from $10.3 million to $6.4 million, reflecting challenges in maintaining profitability.
- The company anticipates Q1 2025 to represent the lowest billings quarter and growth rate, indicating ongoing challenges in the transitional period.
Good afternoon, ladies and gentlemen, and welcome to the Cardlytics fourth quarter fiscal year 2024 earnings conference call. (Operator Instructions) This call is being recorded on Wednesday, March 12, 2025.
I would now like to turn the conference over to Nick Lynton, Chief Legal and Privacy Officer. Please go ahead.
Good evening, and welcome to the Cardlytics fourth quarter and full-year 2024 financial results call.
Before we begin, let me remind everyone that today's discussion will contain forward-looking statements based on our current assumptions, expectations and beliefs, including expectations regarding our future financial performance and results, including for the first quarter of 2025, our capital structure, the rollout of new financial institution partners and the renewal of existing financial institution partners and operational and product initiatives and improvements.
For a discussion of the specific risk factors that could cause our actual results to
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