Filing Flows › Cardlytics (CDLX) › Q3 2025
Cardlytics (CDLX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Cardlytics (CDLX) reported revenue of $52.0M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -18% from the quarter before. Operating margin was -132.3%, net loss $72.7M (139.7% of revenue).
Cardlytics, Q3 2025: revenue $52.0M (-22% year over year), operating margin -132.3%, net loss $72.7M, operating cash flow $1.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $52.0M | -18% | -22% |
| Operating profit | −$68.9M | — | — |
| Net earnings | −$72.7M | — | — |
| Operating cash flow | $1.8M | +44% | +27% |
| Free cash flow | $1.7M | +93% | +99% |
What changed
Revenue was $52.0M in Q3 2025, down 22% year over year and down 18% from the previous quarter. Engagement based pricing was the largest line at 53% of revenue. Served based pricing lost $18.0M year over year (down 50%), 120% of the total change.
Operating costs exceeded revenue by $68.9M, an operating margin of -132.3%. Total costs fell 44% while revenue fell 22%. The quarter ended with a net loss of $72.7M, wider than the previous quarter's $9.3M loss.
Operating cash flow was $1.8M (up 27% year over year). Non-cash charges added back $6.5M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items added $61.5M. Capital expenditures of $14K left free cash flow of $1.7M.
Questions
What was Cardlytics' revenue in the third quarter 2025?
Cardlytics (CDLX) reported revenue of $52.0M for the third quarter 2025 (Q3 2025), -22% from a year earlier and -18% from the quarter before.
Was Cardlytics profitable in the third quarter 2025?
Operating loss was $68.9M (-132.3% of revenue) and net loss $72.7M.
Source: Cardlytics 10-Q on SEC EDGAR.