The continued revenue decline and widening losses suggest no near-term catalyst for a fundamental recovery. Monitor for any signs of stabilization in Q3 results or a material reduction in cash burn before considering a position.
Price Chart
Executive Summary
Cardlytics reported Q2 2026 revenue of $36.9M (down 36% YoY) and a GAAP EPS loss of $-1.50, missing the consensus estimate of $-1.35 by 11.1%. Revenue also missed the $37.0M consensus. While the company highlighted operational execution and margin improvement, the headline financials show a deepening net loss of $-14.9M (vs $-9.3M a year ago) and negative free cash flow of $-10.7M. Q3 guidance for revenue of $34M-$39M implies a continued YoY decline of 17%-27%, with no clear catalyst for a turnaround.
Key Financial Metrics
Key Facts
- Revenue of $36.9M declined 36% YoY from $58.0M.
- GAAP EPS of $-1.50 missed consensus of $-1.35 by 11.1%.
- Net loss widened to $-14.9M from $-9.3M in Q2 2025.
- Free cash flow was negative $-10.7M, worsening from $-3.4M a year ago.
- Q3 2026 guidance for revenue of $34M-$39M implies a YoY decline of 17%-27%.
- Monthly Qualified Users (MQUs) fell 17% YoY to 185.4M.
Financial Impact
Revenue decline of 36% YoY and a net loss of $-14.9M, with negative free cash flow of $-10.7M.
Risk Factors
- Continued revenue decline and user contraction.
- Negative free cash flow and limited cash runway ($28M).
- High dependence on a few financial institution partners (Chase, Wells Fargo).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-053285 |
| Document: cdlx-20260805.htm | 0001628280-26-053285 |
| Document: 0001628280-26-053285-index-headers.html | 0001628280-26-053285 |
| Document: 0001628280-26-053285-index.html | 0001628280-26-053285 |
| Document: 0001628280-26-053285.txt | 0001628280-26-053285 |
| 8-K Data (Synthetic) | 0001628280-26-053285 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 6w ago | 8-K | $4.15 $2.06 | ▼ −50.36% | ▼ −52.23% | $1.65 (−60.24%) |
Aug 5, 2026 11w ago | 8-K | $3.52 $3.64 | ▼ −3.41% | ▼ −2.81% | $1.65 (+53.13%) |
Apr 7, 2026 28w ago | 144 | $10.50 $7.95 | ▼ −24.29% | ▼ −32.84% | $1.65 (−84.29%) |
Mar 4, 2026 33w ago | 8-K | $0.8160 $1.13 | ▲ +38.48% | ▲ +42.27% | $1.65 (+102.21%) |
US Market Status
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