Revenue: As of FY2026 Q1, the actual value is USD 34.32 M, missing the estimate of USD 37.1 M.

EPS: As of FY2026 Q1, the actual value is USD -0.08, beating the estimate of USD -0.37.

EBIT: As of FY2026 Q1, the actual value is USD -5.741 M.

Cardlytics, Inc. reported its first quarter 2026 financial results, highlighting a shift from stabilization to execution following the successful divestiture of Bridg on March 24, 2026, and subsequent liquidation of PAR shares to bolster its balance sheet.

Q1 2026 Financial Performance (vs. Q1 2025)

• Revenue from continuing operations: $34.3 million, a decrease of 39% compared to $56.4 million.
• Revenue from Bridg discontinued operations: An additional $4.2 million was generated.
• Billings from continuing operations: $58.1 million, a decrease of 37% compared to $92.1 million.
• Billings from Bridg discontinued operations: An additional $4.2 million was generated.
• Adjusted Contribution from continuing operations: $19.7 million, a decrease of 28% compared to $27.3 million.
• Adjusted Contribution from Bridg discontinued operations: An additional $3.6 million was generated.
• Gross Profit: $17.141 million, a decrease of 20% from $21.545 million.
• Net Loss: -$4.5 million, an improvement from -$13.3 million.
• Adjusted EBITDA: $0.2 million, an improvement from -$4.1 million.
• Adjusted Net Loss: -$6.2 million, an improvement from -$10.3 million.
• Net cash used by operating activities: -$5.6 million, an improvement from -$6.7 million.
• Free Cash Flow: -$7.9 million, an improvement from -$10.8 million.
• Loss from continuing operations: -$13.798 million, compared to -$10.318 million.
• Income (loss) from discontinued operations: $9.318 million income, compared to -$2.964 million loss.

Key Operational Metrics (Q1 2026 vs. Q1 2025)

• Cardlytics monthly qualified users (MQUs): 197.0 million, an 8% decrease compared to 214.9 million.
• Cardlytics adjusted contribution per user (ACPU): $0.10, compared to $0.13.

Selected Operating Costs (Q1 2026 vs. Q1 2025)

• Partner Share and other third-party costs: $14.597 million, compared to $29.104 million.
• Delivery costs: $2.581 million, compared to $5.786 million.
• Sales and marketing expense: $6.761 million, compared to $10.382 million.
• Research and development expense: $6.430 million, compared to $10.278 million.
• General and administrative expense: $8.281 million, compared to $12.943 million.

Balance Sheet Highlights (March 31, 2026 vs. December 31, 2025)

• Cash and cash equivalents: $35.673 million, down from $48.719 million.
• Marketable securities: $24.130 million, up from $0.
• Total assets: $263.909 million, down from $285.641 million.
• Total liabilities: $267.912 million, down from $292.149 million.
• Total stockholders’ deficit: -$4.003 million, an improvement from -$6.508 million.

Outlook / Guidance for Q2 2026

Cardlytics anticipates Billings to be between $61.0 million and $67.0 million, and Revenue between $35.0 million and $40.0 million. Adjusted Contribution is expected to range from $20.0 million to $23.0 million, with Adjusted EBITDA projected between -$2.7 million and $1.3 million.