Cardlytics, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $82.5 million, net income $(378.3) million, EPS $(11.32) per diluted share.
“Total revenue was $82.5 million, a decrease of (8.4)%, compared to $90.0 million in the fourth quarter of 2021. • Net loss attributable to common stockholders was $(378.3) million, or $(11.32) per diluted share, based on 33.4 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(11.8) million, or $(0.35) per diluted share, based on 33.4 million weighted-average common shares outstanding in the fourth quarter of 2021.”
Amit Gupta was appointed as Chief Operating Officer at Cardlytics, Inc..
“On January 23, 2023, Cardlytics, Inc. (the “Company”) announced the appointment Amit Gupta as the Company’s Chief Operating Officer and principal operating officer, effective January 23, 2023 (the “Hire Date”).”
Restructurings & Charges
Cardlytics, Inc. announced a restructuring with charges of approximately $1.1 million (51 employees).
“On November 8, 2022, Cardlytics, Inc. (the “Company”) committed to and effectuated a plan of termination of 51 employees. This decision was based on cost-reduction initiatives intended to reduce operating expenses and allow the Company to focus on key growth priorities. The Company currently estimates that it will incur charges of approximately $1.1 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs.”
John V. Balen was appointed as Board Chairman at Cardlytics, Inc..
“the Board also approved the appointment of Board member John V. Balen as Board Chairman, effective immediately”
Lynne Laube resigned as Advisor to the Chief Executive Officer and Director at Cardlytics, Inc..
“On November 11, 2022, Lynne Laube resigned from all positions with the Company, including but not limited to that of Advisor to the Chief Executive Officer and Director of the Board of the Company.”
Scott D. Grimes resigned as Executive Chairman at Cardlytics, Inc..
“On November 11, 2022, Scott D. Grimes resigned from all positions with the Company, including but not limited to that of the Executive Chairman of the Board of Directors (the "Board") of the Company.”
Earnings Releases
Cardlytics, Inc. reported third quarter ended September 30, 2022 results: revenue $72.7 million, net income $6.3 million, EPS $0.19 per diluted share. Guidance initiated.
“for 2023. We are focused on taking the necessary steps to ensure we can control our destiny and achieve our long-term goals.” Third Quarter 2022 Financial Results • Revenue was $72.7 million, an increase of 12% year-over-year, compared to $65.0 million in the third quarter of 2021. • Billings, a non-GAAP metric, was $110.4 million, an increase of 12% year-over-year,”
Karim Temsamani was appointed as Chief Executive Officer at Cardlytics, Inc..
“On July 18, 2022, the Board of Directors of the Company (the “Board”) approved the appointment of Karim Temsamani as the Company’s Chief Executive Officer and principal executive officer, effective September 1, 2022”
Lynne M. Laube resigned as Chief Executive Officer at Cardlytics, Inc..
“On July 15, 2022, Lynne M. Laube notified the Company of her intent to resign as the Company’s Chief Executive Officer, effective as of September 1, 2022”
Nick Lynton was appointed as Chief Legal and Privacy Officer at Cardlytics, Inc..
“Nick Lynton, currently the Company’s Assistant General Counsel, will assume Mr. Somers’ responsibilities and take over as the Company’s Chief Legal and Privacy Officer as of that date.”
Kirk Somers changed role as Of Counsel at Cardlytics, Inc..
“Mr. Somers will continue in a part-time capacity as Of Counsel until December 31, 2023 (the “Termination Date”), providing advice on legal and regulatory matters pursuant to a Transition Agreement, the terms of which are described below.”
Kirk Somers resigned as Chief Legal and Privacy Officer at Cardlytics, Inc..
“On June 17, 2022, Kirk Somers, Chief Legal and Privacy Officer of Cardlytics, Inc. (the “Company”), notified the Company of his intent to resign from his full-time role at Cardlytics effective July 15, 2022.”
Mark Johnson departed as Director at Cardlytics, Inc..
“Mark Johnson provided notice to the board of directors (the “Board”) of Cardlytics, Inc. (the “Company”) of his decision to not stand for re-election at the Company’s 2022 annual meeting of stockholders (the “Annual Meeting”).”
Christopher Suh was appointed as director at Cardlytics, Inc..
“On September 26, 2021, the board of directors (the “Board”) of Cardlytics, Inc. (the “Company”) appointed Christopher Suh to serve as a director of the Company and as a member of the Company's audit committee.”
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