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Cardlytics, Inc.

CDLX Communication Services Advertising Agencies

Revenue
−36.8%
EPS
−43.3%
Free cash flow
−198.6%
Total debt
−13.9%

Quarter to September 2026, against a year earlier

2.04 0.15 −6.85%
Market cap
$12.9M
P/E
0.0×
Fwd P/E
−0.5×
Dividend yield
—
F-score
6/9
Altman Z
−6.87
Beneish M
−4.63
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.13
Sold, $m 0.54
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell — 3 1 — 3 — — 2 1 — 1 —
Insider Ownership 4.15%

Capital & Financial Ratios $m

Size
Market Cap 12.90
Revenue ttm 160.18
Net income ttm (36.55)
Free cash flow ttm (16.27)
Net debt Q 156.37
Valuation
P/E 0.00
Forward P/E (0.46) (negative: loss-making)
Price / sales 0.08
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 1.82 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 0.00
Growth
Revenue growth Q −36.80% (below 0%: shrinking)
Operating income growth Q +43.14% (above 0%: growing)
EPS, this year +76.44% (at or above 15%: strong)
EPS, next year A −50.16% (below 0%: weak)
Revenue, next year A −36.25% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +27.95% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 1.9×; over the ten years it ranged from 0.7× in 2018 to 20.2× in 2020.
P/S against its own 10 years 0.86%
10-year low 10-year high
EV/Sales against its own 10 years 36.96%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 92 66 49 —
Receivables 126 107 85 —
Inventory — — — —
Other — — — —
224 178 137 96
2023 2024 2025 Q'26
Payables 4 4 3 3
ST’ Debt — 46 — —
Other 39 5 — —
171 149 78 53

Compound Annual Growth %

10y 5y 3y
Sales 11.63% 4.53% (7.89%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY25 Estimate −1.60 Actual −1.30

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY24 −3.30 −1.50 Beat by 1.80
Q4 FY24 −2.40 0.00 Beat by 2.40
Q1 FY25 −2.70 −2.10 Beat by 0.60
Q2 FY25 −1.60 −1.30 Beat by 0.30

EPS $

Mar Jun Sep Dec Year
’26 (0.80) (2.58) — — —
’25 (2.60) (1.80) (13.60) (1.50) (19.50)
’24 (5.60) (0.90) (29.00) (3.10) (39.10)
’23 4.00 (6.70) (6.30) (25.60) (36.90)
’22 8.90 (37.50) 1.90 (113.20) (139.20)
’21 (8.50) (14.30) (13.50) (3.50) (39.90)
’20 (5.10) (7.30) (5.60) (2.40) (20.40)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 34 37 33 — —
’25 62 63 52 56 233
’24 68 70 67 74 278
’23 64 77 79 89 309
’22 68 75 73 83 299
’21 53 59 65 90 267
’20 46 28 46 67 187
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (9) (6) — —
’25 (7) 1 2 13 9
’24 (18) 4 1 3 (9)
’23 (10) 6 1 3 0
’22 (20) (7) (14) (13) (54)
’21 (13) (15) (10) (1) (39)
’20 (3) (4) (6) 6 (8)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (8) (11) (8) — —
’25 (11) (3) (3) 10 (6)
’24 (22) 0 (4) (1) (28)
’23 (13) 3 (2) (1) (13)
’22 (22) (11) (18) (16) (67)
’21 (16) (18) (13) (4) (51)
’20 (5) (6) (8) 2 (18)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 113 130 151 210 187 267 299 309 278 233 160 +8.4% 149 161 — (16.9%)
Gross margin, % 35.82 38.44 36.29 37.76 33.86 38.69 37.73 42.17 43.44 44.85 0.00 +9.0 pt
EBT (76) (20) (53) (17) (55) (136) (467) (135) (189) (103) (110) +3.5%
EBT margin, % (67.09) (15.07) (35.20) (8.15) (29.65) (51.07) (156.33) (43.56) (68.02) (44.36) 0.00 +22.7 pt
Net income (76) (20) (53) (17) (55) (129) (465) (135) (189) (103) (37) +3.5%
Per share, $
Per share, $ Revenue 477.85 403.61 79.06 88.62 68.68 82.95 89.33 84.74 57.55 43.92 0.00 (23.3%)
Earnings (320.61) (78.60) (27.90) (7.20) (20.40) (39.90) (139.20) (36.90) (39.10) (19.50) (18.48) (26.7%)
Cash flow (137.65) (68.43) (9.97) 4.82 (2.79) (11.96) (16.13) (0.05) (1.82) 1.75 0.00 n/m
Capex (10.78) (5.10) (3.85) (4.64) (3.72) (3.90) (4.04) (3.40) (3.99) (2.97) 0.00 (13.3%)
Free cash flow (148.42) (73.53) (13.82) 0.18 (6.51) (15.86) (20.17) (3.45) (5.81) (1.22) 0.00 (41.3%)
Book value (918.40) (646.09) 27.27 60.33 57.76 214.49 63.32 36.94 14.47 (1.23) 0.00 (52.1%)
Shares, m 0 0 2 2 3 3 3 4 5 5 5 +41.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 0.36 0.36 1.37 7.09 20.79 7.97 0.60 1.05 0.64 0.26 0.08 4.0
P/B 0.00 0.00 3.97 10.42 24.72 3.08 0.85 2.41 2.56 0.00 0.00 4.8
EV/Sales 0.63 0.63 1.28 6.60 20.18 7.81 0.97 1.68 1.18 1.15 1.34 4.2
EV/FCF (3.53) (3.53) (7.34) (26,694.68) (212.86) (40.81) (4.29) (40.81) (11.57) (40.10) (13.07) (2,706.0)
Cash, $m
Cash, $m Operating cash flow (32) (22) (19) 11 (8) (39) (54) 0 (9) 9 (7) n/m
Capex (3) (2) (7) (11) (10) (13) (13) (12) (19) (16) (9) +22.5%
Free cash flow (35) (24) (26) 0 (18) (51) (67) (13) (28) (6) (16) (17.1%)
Balance, $m
Balance, $m Working capital 29 32 72 117 304 31 1 53 29 59 43 +8.3%
Net debt 89 36 (13) (105) (114) (43) 109 166 148 160 156 +6.8%
Shareholders’ equity (217) (209) 52 143 157 691 212 135 70 (7) (23) (32.3%)
Returns, %
Returns, % ROA (90.66) (27.06) (41.80) (9.07) (17.14) (15.25) (47.60) (21.29) (39.16) (30.51) (14.02) +60.1 pt
ROIC 0.00 0.00 (65.91) (27.98) (78.64) (11.83) (89.22) (28.22) (56.05) (41.40) 0.00 (41.4) pt
ROE 40.46 11.93 67.89 (17.56) (36.89) (30.33) (103.13) (77.77) (184.88) (326.02) 263.65 (366.5) pt
People
People Employees 342 342 402 432 471 591 501 434 454 275 — (2.4%)
Revenue/emp, $m 0.33 0.38 0.37 0.49 0.40 0.45 0.60 0.71 0.61 0.85 — +11.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Cardlytics, Inc. vs peers in Advertising Agencies (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SWAG Stran & Company, Inc. $24.4M — (loss-making) — +2.40% (above 0%: growing) −33.33% (below 0%: shrinking) −94.36% (below 0%: shrinking) 30.04% 0.26% Compare
TC Token Cat Limited - Sponsored ADR $18.4M — (loss-making) — (loss-making) −48.54% (below 0%: shrinking) n/m −61.75% (below 0%: shrinking) 76.44% (51.72%) Compare
ACCS ACCESS Newswire Inc. $13.4M — (loss-making) — (loss-making) −0.05% (below 0%: shrinking) n/m −62.96% (below 0%: shrinking) 73.19% (5.46%) Compare
CDLX Cardlytics, Inc. $12.9M — (loss-making) — (loss-making) −36.80% (below 0%: shrinking) n/m −198.59% (below 0%: shrinking) 0.00% 0.00%
DLPN Dolphin Digital Media Inc. $11.7M — (loss-making) — (loss-making) +2.52% (above 0%: growing) n/m −110.78% (below 0%: shrinking) 92.88% (7.14%) Compare
EDHL Everbright Digital Holding Limited $11.6M — — — — — — — Compare
WIMI WiMi Hologram Cloud Inc. $8.8M — (loss-making) — (loss-making) −52.14% (below 0%: shrinking) −100.00% (below 0%: shrinking) −106.37% (below 0%: shrinking) 30.59% 0.00% Compare
TDIC Dreamland Limited $7.5M — — — — −345.84% (below 0%: shrinking) — — Compare
BAOS Baosheng Media Group Holdings Limited $5.3M — — (loss-making) — — −165.95% (below 0%: shrinking) 79.96% 0.00% Compare
Median of peers $11.7M — — −0.05% — −106.37% 74.82% (2.73%)

All 41 Advertising Agencies stocks →

Pay and ownership Proxy statement filed 9 April 2026

Ownership

Directors and executive officers, together 5.90%
Entities affiliated with CAS Investment Partners, LLC 9.40%
Entities affiliated with BlackRock, Inc.. 5.70%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Cardlytics, Inc. (CDLX) Latest News

6 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · Associated Press
Impact 3 · · Business Wire
Impact 3 · · Associated Press Finance
Impact 3 · · Business Wire

27 Oct

Impact 3 · · TheStreet

6 Oct

Impact 4 · · Business Wire

12 Aug

Impact 4 · · The Motley Fool transcript

6 Aug

Impact 3 · · Moby transcript

5 Aug

Impact 3 ·

11 May

Impact 3 · · Simply Wall St.

8 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

7 May

Impact 4 · · Business Wire

2 May

Impact 4 · · Simply Wall St.

4 Apr

Impact 4 · · Simply Wall St.

24 Mar

Impact 4 · · Business Wire

6 Mar

Impact 4 · · Simply Wall St.

5 Mar

Impact 4 · · Moby
Impact 4 · · GuruFocus.com

4 Mar

Impact 4 · · Associated Press Finance
Impact 4 · · Business Wire

27 Jan

Impact 3 · · verdictfoodservice.com

26 Jan

Impact 3 · · Business Wire

5 Jan

Impact 4 · · Zacks

18 Dec

Impact 3 · · Business Wire

10 Nov

Impact 4 · · Zacks
stockrow.com/CDLX · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com