Cardlytics Inc. (NASDAQ: CDLX) stock plunged by 6.77% at last close while the CDLX stock price declines by 20.57% in the after-hours trading session. Cardlytics is a platform for digital marketing. They work with banks to manage their banking rewards programs, which encourage client loyalty and strengthen banking relationships. As a result, they have a clear picture of where and when people spend their money.
CDLX stock, Q2 Financial Outcomes
Cardlytics announced its second quarter 2021 financial results. The highlights are given below:
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- The revenue has been calculated as $58.9 million which is a rise of 109% annually relative to $28.2 million in Q2 2020.
- Billings, a non-GAAP statistic, were totaled as $85.3 million in the second quarter of 2021, up 116 percent year over year from $39.5 million.
- In the second quarter of 2021, net profit was $23.2 million, up 193 percent over the previous year’s $7.9 million.
- Adjusted contribution, a non-GAAP indicator, was $29.6 million in Q2 2021, up 139 percent year over year from $12.4 million.
- As per 33.0 million weighted-average common shares outstanding, total loss attributable to common stockholders was $47.3 million, or $1.43 per diluted share, relative to a net loss attributable to common stockholders of $19.8 million, or $0.73 per diluted share, based on 27.1 million weighted-average common shares outstanding in the second quarter of 2020.
- Adjusted EBITDA, a non-GAAP statistic, was a loss of $5.7 million in the second quarter of 2021, opposed to a loss of $7.7 million in Q2 2020.
Andy Christiansen, CFO of Cardlytics stated,
They think that in Q3, they will still be struggling with an unequal recovery, since each of the industries in which they operate is still grappling with its own set of macroeconomic problems. Cardlytics’ long-term potential continues to excite them, and CDLX continue to make significant progress on its product and technology objectives.