Filing Flows › Cardlytics (CDLX) › Q4 2025
Cardlytics (CDLX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
Cardlytics (CDLX) reported revenue of $56.1M for the fourth quarter 2025 (Q4 2025), -24% from a year earlier and +8% from the quarter before. Operating margin was -10.9%, net loss $8.2M (14.7% of revenue).
Cardlytics, Q4 2025: revenue $56.1M (-24% year over year), operating margin -10.9%, net loss $8.2M, operating cash flow $13.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $56.1M | +8% | -24% |
| Operating profit | −$6.1M | — | — |
| Net earnings | −$8.2M | — | — |
| Operating cash flow | $13.0M | +639% | +337% |
| Free cash flow | $10.5M | — | — |
What changed
Revenue was $56.1M in Q4 2025, down 24% year over year and up 8% from the previous quarter. Engagement based pricing was the largest line at 63% of revenue.
Operating costs exceeded revenue by $6.1M, an operating margin of -10.9%. Total costs fell 24% while revenue fell 24%. The quarter ended with a net loss of $8.2M, narrower than the previous quarter's $72.7M loss.
Operating cash flow was $13.0M (up 337% year over year). Non-cash charges added back $6.2M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $9.5M. After capitalized software development costs ($2.5M) and acquisition of property and equipment ($25K), free cash flow as the company reports it was $10.5M.
Questions
What was Cardlytics' revenue in the fourth quarter 2025?
Cardlytics (CDLX) reported revenue of $56.1M for the fourth quarter 2025 (Q4 2025), -24% from a year earlier and +8% from the quarter before.
Was Cardlytics profitable in the fourth quarter 2025?
Operating loss was $6.1M (-10.9% of revenue) and net loss $8.2M.
Source: Cardlytics 10-K on SEC EDGAR.