Filing Flows › Comparisons › CDLX vs SST
Cardlytics vs System1: CDLX and SST compared
Cardlytics is the larger company: $32.9M of revenue in its latest quarter (Q3 2026) against $30.2M for System1 (Q2 2026). Cardlytics is growing faster (-30% against -61% a year earlier). Cardlytics is more profitable, with an operating margin of -16.5% against -27.5%.
Where the money goes: CDLX and SST
Cardlytics (CDLX) · Q3 2026
Cardlytics, Q3 2026: revenue $32.9M (-30% year over year), operating margin -16.5%, net loss $8.9M, operating cash flow −$5.9M. The chart follows the revenue to costs, profit and cash.
System1 (SST) · Q2 2026
System1, Q2 2026: revenue $30.2M (-61% year over year), operating margin -27.5%, net loss $15.3M, operating cash flow −$2.0M. The chart follows the revenue to costs, profit and cash.
| Cardlytics (CDLX) | System1 (SST) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $32.9M | $30.2M |
| Revenue growth, Y/Y | -30% | -61% |
| Operating margin | -16.5% | -27.5% |
| Net earnings | −$8.9M | −$15.3M |
| Net margin | -27.2% | -50.8% |
| Operating cash flow | −$5.9M | −$2.0M |
Where the revenue comes from
Cardlytics
- Engagement based pricing: $21.7M (66%)
- Served based pricing: $10.1M (31%)
- Other Revenue(1): $1.1M (3%)
System1
- Products: $19.5M (64%)
- Marketing: $10.7M (36%)
Questions
Which is bigger, Cardlytics or System1?
Cardlytics is the larger company: $32.9M of revenue in its latest quarter (Q3 2026) against $30.2M for System1 (Q2 2026).
Is Cardlytics or System1 growing faster?
Cardlytics is growing faster (-30% against -61% a year earlier).
Which is more profitable, Cardlytics or System1?
Cardlytics is more profitable, with an operating margin of -16.5% against -27.5%.
More: Cardlytics earnings · how Cardlytics makes money · System1 earnings · how System1 makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 5, 2026). Fiscal quarters can end on different dates. Not investment advice.