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Cardlytics Inc (NASDAQ: CDLX) operates a commerce media platform that connects advertisers and publishers through first-party card purchase data. Headquartered in Atlanta and founded in 2008, the company processes insights on approximately half of U.S. card-based transactions and one-quarter of those in the U.K., enabling targeted cash-back offers that aim to drive incremental sales and enhance customer loyalty.
Corporate Structure and Experience
Cardlytics employs between 501 and 1,000 staff across offices in Atlanta; Menlo Park, California; Los Angeles; Champaign, Illinois; New York; London; and Taipei City. As of August 16, 2024, Amit Gupta has served as Chief Executive Officer, having previously held positions at Stripe and Google. The leadership team is composed of:
- Peter Chan, Chief Technology Officer since June 2021, formerly at Amazon and Yahoo.
- Alexis DeSieno, Chief Financial Officer since August 2023, with previous finance roles at Clear Secure and SoulCycle.
- Rory Mitchell, Chief Business Officer for the U.S. and U.K. since May 2025, overseeing revenue strategy and client success.
Commerce media by sarah b
Recent Developments and News
On August 6, 2025, Cardlytics filed a Form 8-K reporting material events, and on August 20, 2025, submitted a Schedule 13D/A that disclosed CAS Investment Partners LLC holds 9.8% of shares, while SOSIN MASTER, LP controls 6.0%. In June 2025, the company received the MarTech Breakthrough Award 2025 for Best Digital Ad Network. The U.K. Loyalty Movement Report, covering Q1 2023–Q4 2024, indicated customer churn patterns across retail segments, noting that only 7% of “Tied” customers remain stable on a quarter-over-quarter basis. As of September 18, 2025, the stock closed at $2.48, reflecting a price increase of 73.43% on a volume of 13,587,956 shares.
Financial and Strategic Analysis
For the twelve months ended June 30, 2025, Cardlytics reported revenue of $266.2 million and a net loss attributable to common shareholders of $183.3 million, resulting in an earnings per share (EPS) of –$3.72. The balance sheet displays $46.7 million in cash, with total debt representing 375% of equity. At an enterprise value of approximately $233 million, the stock trades at a price-to-sales ratio of 0.22 and an enterprise value-to-revenue ratio of 0.88. Management continues to invest in Bridg identity resolution and the expansion of its card-linked offer network to convert anonymous transactions into addressable marketing opportunities.
Market Position and Industry Context
Commerce media, which focuses on advertising based on transaction data, has evolved to encompass midsize financial institutions. Cardlytics reaches approximately 215 million monthly active users and has facilitated more than $46 billion in measurable sales while distributing over $1 billion in customer rewards. Its ability to measure closed-loop performance appeals to advertisers seeking accountability, and its scale presents challenges for new entrants. Competition includes other loyalty-analytics providers and digital advertising networks that do not have direct access to transaction data.
tl;dr
CDLX shares increased by 73.43% to $2.48 on September 18, 2025, following an August 20 Schedule 13D/A that disclosed a 9.8% stake held by CAS Investment Partners LLC. The company’s Q2 2025 results reflected $266.2 million in revenue and a net loss of $183.3 million. Cardlytics received the Best Digital Ad Network award on June 3, 2025, and is focusing on expanding its Bridg identity solution and card-linked offer ecosystem to improve targeted marketing, with further updates expected in its November 5, 2025 earnings release.
