Company Analysis

Cardlytics, Inc. (CDLX)

Nasdaq: CDLX · Services-Computer Programming, Data Processing, Etc. · Atlanta, GA · filing with the SEC since 2017
Grade2.7
◀ Past 2.2● Present 2.3▶ Future 3.4

The grade of Cardlytics, Inc.

Nine metrics read from its own filings, by tense
Headline grade
2.7/10
◀ Past2.225% of the headline
● Present2.335% of the headline
▶ Future3.440% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

2.2/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
1.6/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2026-06-03.

weight 22% of this tense · 16th percentile among 79 sector filers · read for itself

From the record

Cardlytics, Inc.'s filings since 2017 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2026-06-03) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.9/10

What has it actually done, year after year?

+8.4% a year over 10 filed years; profitable in 0 of 10.

weight 45% of this tense · 29th percentile among 70 sector filers · read for its customers

From the record

Cardlytics, Inc.'s 10 filed years say what it did: revenue went from $113 million in fiscal 2016 to $233 million in fiscal 2025, up 8.4% a year; it rose in 6 of 9 years; the deepest fall was 25% from fiscal 2023 to fiscal 2025; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span8.4%bottom 32% of its family
  • the share of years revenue rosebottom 31% of its family
  • the share of filed years with a profitbottom 14% of its family
  • the deepest fall from a revenue peak24.6%bottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
1.7/10

How has it treated the people who own it?

Share count grew 16.7% a year. 0% of cash flow returned. Insiders: 16 sales, 2 purchases.

weight 33% of this tense · 17th percentile among 41 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Cardlytics, Inc.'s diluted share count grew about 16.7% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 16 sales and 2 purchases of their own stock on the open market in the year to 2026-10-02, buying about $129 thousand (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 22% of its family
  • cash returned against operating cash flowbottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

2.3/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
2.2/10

Is it financially healthy right now?

Leverage 102%: owes 102¢ per asset dollar.

weight 45% of this tense · 22nd percentile among 74 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Cardlytics, Inc.'s shareholders' equity was below zero, so the profit on it is not read. Leverage: it owed about 102 cents per dollar of assets, and net share issuance: its share count grew 9.8% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 10% of its family
  • the share count against the year beforebottom 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.6/10

How strong is its position in its industry?

bottom 26% of 73 in its family; net margin -44.4%.

weight 33% of this tense · 26th percentile among 73 sector filers · read for its customers

From the record

Cardlytics, Inc.'s standing among 73 graded names in its industry family: revenue of $233 million in fiscal 2025 ranks in the bottom 35% by size; a net margin of -44.4% ranks in the bottom 23%; revenue growth of -7.9% a year over the last 3 filed years ranks in the bottom 19% (its annual reports).

What it rests on

  • revenue against the family$233Mbottom 35% of its family
  • net margin-44.4%bottom 23% of its family
  • three-year revenue growth-7.9%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.1/10

What are the people in charge doing?

bottom 21% of 34 in its family for leadership; chief executive since 2024.

weight 22% of this tense · 21st percentile among 34 sector filers · read for its shareholders

From the record

Cardlytics, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Gupta, Amit (Chief Executive Officer, as filed), filing under that title since 2024-08-22, 2.2 years (bottom 26% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 3.2 years (bottom 23%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (bottom 14%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 11 peoplebottom 14% of its family
  • the median years the people in charge have filed3.2 yearsbottom 23% of its family
  • the chief executive's years on the record2.2 yearsbottom 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

3.4/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.6/10

How much room does it have to grow?

bottom 37% of 71 in its family for room to expand.

weight 22% of this tense · 37th percentile among 71 sector filers · read for itself

From the record

Cardlytics, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $49 million against debt of $213 million leaves -57.4% of its assets as net cash, bottom 6% of its family; cash from operations less capital spending is 3.8% of revenue (bottom 48%); research spending of 17% of revenue (top 45%) (its annual report).

What it rests on

  • cash less debt against assets-57.4%bottom 6% of its family
  • cash from operations less capital spending against revenue3.8%bottom 48% of its family
  • research spending against revenue17.0%top 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
1.9/10

What could actually drive growth from here?

bottom 18% of 70 in its family for growth drivers.

weight 45% of this tense · 18th percentile among 70 sector filers · read for its customers

From the record

Cardlytics, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -7.9% a year over the last three filed years against 8.4% over all 10, slowing (bottom 24% of its family); the newest year grew -16.2% (bottom 8%); research spending grew -9.9% a year (bottom 23%); capital spending grew -25.7% a year (bottom 19%) (its annual reports). Cardlytics, Inc. reported 2 lines of business in fiscal 2025: Cardlytic Direct at $212 million (91%), Bridg Acquisition at $21 million (9%); 0 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-16.3 points a yearbottom 24% of its family
  • the newest year's revenue growth-16.2%bottom 8% of its family
  • three-year growth of research spending-9.9%bottom 23% of its family
  • three-year growth of capital spending-25.7%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.3/10

Did its newest year beat what its own record pointed to?

top 47% of 65 in its family for expectations against reality.

weight 33% of this tense · 53rd percentile among 65 sector filers · read for its shareholders

From the record

Cardlytics, Inc.'s newest year against its own record: revenue of $233 million in fiscal 2025 came in 13.2% below the $269 million its prior three years' pace pointed to (bottom 12% of its family); net income of $103 million against a prior three-year average of $263 million (top 42%); a net margin of -44.4% against -89.1% before (top 10%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-13.2%bottom 12% of its family
  • net income against the prior three years' average+61%top 42% of its family
  • net margin against its prior average+44.8 pointstop 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton CDLX · research, not advice