Cardlytics Q2 Revenue Drops 36% to $36.9M, Guides Q3 Below Estimates
CDLX is trading near its 52-week low of $3.5 (6.3% above the low).
Summary
Cardlytics reported Q2 revenue of $36.9M, down 36% YoY, with a net loss of $(14.9)M. Adjusted EBITDA was $1.7M, down from $3.0M a year ago. The company guided Q3 revenue to $34M-$39M, implying continued double-digit declines. This follows a 39% Q1 revenue drop and a recent reverse split to maintain Nasdaq listing. The results show ongoing contraction in users and per-user economics, with MQUs down 17% and ACPU down to $0.11. The CFO's recent open-market purchase and the CEO's sale add mixed insider signals, but the core business continues to shrink.
At the time of this announcement, CDLX was trading at $3.72 on NASDAQ in the Technology sector, with a market capitalization of approximately $23.8M. The 52-week trading range was $3.50 to $32.80. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: BusinessWire.