Cardlytics, Inc.

Technology
Computer Software: Programming, Data Processing
www.cardlytics.com

Moat Score
Safety Score

Market Cap $154.14M
PE -1
Debt $259.03M
Cash $66.99M
EV $346.18M
FCF -$10.58M

Earnings

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Sales & Net Margins

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Earnings	-$274.55M
EBIT	-$275.67M
ROE	-394%
ROA	-69%
FCF	-$10.58M
Equity	$69.70M
Growth Stability	1
PE	-0.56
PB	2.21
P/FCF	-14.57
P/S	0.53
Price/Cash	0.43
Debt/Equity	3.72
Debt/FCF	-24.48
Net Margins	-85%
Op. Margins	-94%
Sales Growth YoY	-15%
Sales Growth QoQ	-4%
Sales CAGR	15%
Equity CAGR	29%
Earnings Growth YoY	506%

Earnings Growth QoQ	3K%
Sales CAGR 5Y	12%
Equity CAGR 5Y	-7%
Earnings CAGR 3Y	3%
Sales CAGR 3Y	3%
Equity CAGR 3Y	-51%
Market Cap	$154.14M
Revenue	$293.47M
Assets	$399.39M
Total Debt	$259.03M
Cash	$66.99M
Shares Outstanding	39.73M
EV	346.18M
Moat Score	1%
Safety Score	59%
Working Capital	27.42M
Current Ratio	1.18
Shares Growth 3y	8%
Equity Growth QoQ	-67%
Equity Growth YoY	-69%

Assets & ROA

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Stockholders Equity & ROE

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Cardlytics Inc operates an advertising platform within financial institutions digital channels, which include online, mobile, email and various real-time notifications. The company operates through three segments, Cardlytics Direct U.S. and U.K., and Bridg platform. The Cardlytics Direct segment which generates majority revenue operates a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels. The Bridg platform generates revenue through the sale of subscriptions to our cloud-based customer-data platform and the delivery of professional services like implementation, onboarding and technical support. Geographically the company receives maximum revenue from the United States.

SEC Filings

Direct access to Cardlytics, Inc. (CDLX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Cardlytics, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Cardlytics, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Cardlytics, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Cardlytics, Inc..

Years

Calculation mode

= -$106M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$11M	-$106M
DCF		-$9.6M	-$8.7M	-$8M	-$7.2M	-$6.6M	-$6M	-$5.4M	-$4.9M	-$4.5M	-$4.1M	-$41M
Value	-$106M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-68%	-19%	-35%	-8%	-30%	-48%	-156%	-44%	-85%
ROA	-	-17%	-27%	-8%	-13%	-10%	-66%	-23%	-69%
ROE	-	12%	-102%	-12%	-35%	-19%	-220%	-100%	-394%

Bad Net Margins (-85.03%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-2.45	-1.88	0.02	-17.69	-5.52	-4.18	-302.23	-24.48
Debt over Equity	-	-0.27	0.9	0	1.46	0.33	1.09	1.91	3.72
Growth Stability	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-24.48)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (3.72)

The company is overleveraged and has a bad balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	16%	16%	40%	-11%	43%	12%	4%	12%
Earnings YoY growth	-	-67%	110%	-68%	223%	132%	262%	-71%	-
Equity YoY growth	-	-4%	-125%	176%	10%	339%	-69%	-36%	-7%
FCF YoY growth	-	-32%	7%	-113%	-509%	220%	32%	-98%	-