The following is a summary of the Cardlytics, Inc. (CDLX) Q1 2024 Earnings Call Transcript:
Financial Performance:
Cardlytics raised $50 million in cash and reported positive adjusted EBITDA for full-year 2023 and Q1 2024.
Struck a 12% growth in Q1 billings over the first quarter of 2023, indicating advertiser interest.
Adjusted contribution, reflecting business performance, saw a 27% growth over the first quarter of 2023.
Closed Q1 with adjusted EBITDA of $0.2 million, a company first for the first quarter.
Ended Q1 with a total of $97.8 million in cash and cash equivalents.
Business Progress:
The company has put capital concerns to bed and has entered into a new phase focusing on long-term growth prospects.
Steady technological improvement, product development and team enhancement have been carried out for anticipated growth.
Currently constructing a dynamic marketplace for meeting campaign optimizations, timely reporting, and dynamic pricing.
Looking to invest more in the technology and sales team to boost engagement and yield superior results.
Involved in the development of Rippl, expected to become one of the most extensive retail media networks in the country.
For 2024, the company aims to sustain higher growth rates.
Initiating further engagement among consumers and revising revenue-sharing agreements with banking partners.
Investments planned in technological up-gradation and product innovation for better client servicing.
The target is to provide automated insights to 10% of consumers through the self-serve platform by the end of Q2 2024, with ambitions to roll out the ability to book budgets without team intervention in the long-term.
Focus also on the development of Bridg and Rippl products aimed at increasing the number of profiles and widening the customer targeting landscape, with a mission to reach 100 million profiles by the end of the year.
More details: Cardlytics IR
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