Cardlytics Q3 revenue falls on lower user activity
CDLX•Cardlytics’ third-quarter revenue fell 30% year over year to $32.88 million, below the $36.35 million consensus estimate, as monthly qualified users and billings declined. The company expects fourth-quarter revenue of $35 million to $39 million and adjusted EBITDA ranging from a $1 million loss to $2 million.
1. Quarterly results
Cardlytics reported third-quarter revenue of $32.88 million, down 30% year over year and below the $36.35 million consensus estimate. Billings were $57.22 million, net loss was $8.95 million, and adjusted EBITDA fell to $0.4 million from $3.3 million a year earlier. The company cited lower monthly qualified users and billings for the revenue decline.
2. Fourth-quarter outlook
Cardlytics expects fourth-quarter 2026 revenue of $35 million to $39 million, billings of $63 million to $69 million, and adjusted EBITDA between a $1 million loss and $2 million. CEO Amit Gupta said the company is adding card rewards program partners and expanding its advertising base, while CFO David Evans cited lower costs and higher contribution margin from running a leaner business.
