Cardlytics Happy with Q2 Results after Divestment

Purchase intelligence firm Cardlytics has released results for its first full quarter without Bridg, its recently divested identity resolution and shopper intell platform. In Q2 the slimmed-down business had revenue of $36.9m, a fall of 36%, and adjusted EBITDA of $1.7m, down from $3.0m a year earlier.

Cardlytics' partnerships allow it to import data from around 215 million consumers, including around half of all card-based transactions in the US, and a quarter in the UK. The firm analyses around $5.8 trillion in annual consumer spend, to help advertisers target, engage and measure relevant shoppers at scale, and deliver personalized cash back offers based on their spending history. Bridg, whose IDR platform combines in-store transaction data with insights into off-line consumer behavior, was acquired by US-based foodservice tech provider PAR Technology Corporation for $27.5 million, with the sale completing in late March.

CFO David Evans says the results show the company 'executing against its game plan for sequential growth and self-sustainability. Chief Exec Amit Gupta (pictured) comments: 'We were within our guidance across all key metrics, with margins improving every single month of the quarter. 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.'

Web sites are at www.cardlytics.com and www.bridg.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.