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Atlanta, GA – May 28, 2020 – Cardlytics, Inc., (NASDAQ: CDLX), a purchase intelligence platform that makes marketing more relevant and measurable, today announced it will present at two upcoming conferences: the Bank of America 2020 Global Technology Conference and the William Blair 40^th Annual Growth Stock Conference.

• Chief Executive Officer and Co-Founder, Lynne Laube, will present at the Bank of America Conference on Thursday, June 4, 2020 at 1:45 p.m. Eastern Time and will be webcast live.

• Ms. Laube will present at the William Blair Conference on Tuesday, June 9, 2020 at 9:40 a.m. Eastern Time and will be webcast live.

A live audio webcast of each event will be available on the Cardlytics Investor Relations website at http://ir.cardlytics.com/. After the events, an archive of the webcasts will also be available for a limited time on the Cardlytics Investor Relations website.

About Cardlytics

Cardlytics (NASDAQ: CDLX) uses purchase intelligence to make marketing more relevant and measurable. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco and Visakhapatnam. Learn more at www.cardlytics.com.

With insight into 50% of US transactions, Cardlytics is uniquely positioned to help marketers understand and respond to current trends that impact their industries and customers.

We’re putting these purchase insights into action every day for advertisers in our native ad platform and are pleased to publish a new Cardlytics State of Spend series for all marketers to leverage.

Inside the first issue:

• COVID-19’s impact on overall spend 
• eCommerce is leading the path forward
• Home is the center of the new economy
• Customers choose home fitness
• Actionable tips for long-term gains

Want more actionable insights?

We’re committed to providing certainty in this time of uncertainty. Whether marketers are experiencing ups or downs in consumer spend, Cardlytics is using our unique purchase insights and powerful advertising channel to help all of our clients navigate the curve and drive measurable sales.

Contact us for a custom analysis and campaign strategy customized for your brand.

Be sure to check back for the next Cardlytics State of Spend report to follow important shifts in consumer spend and track early signs of recovery.

• Growing number of UK adults are switching current accounts; nearly one in ten (7%) changing banks in the last 12 months
• A quarter of people (25%) have either considered switching or will be considering in the next year
• Half of people (50%) have never switched current account; those who could benefit the most from switching continue to miss out

12 May 2020: New analysis from Cardlytics (NASDAQ: CDLX), a purchase intelligence platform that drives loyalty and engagement through merchant-funded rewards, has found that more than three million[1] UK adults changed their current bank accounts in the past year as the switching trend continues to grow.

Driven by increased competition in the UK banking sector, which has brought with it a boom in rewards and offers available to customers, nearly one in ten (7%) switched current account providers last year.

The growing popularity of switching shows no signs of slowing. While this year’s figures represented a modest increase on last year (+2%), the study found that a further 5.9 million[2] UK adults will consider switching current accounts in the next 12 months. Out of those who have already switched, 52% said they would switch more frequently in future.

Digital challengers gain as customers switch gears

Traditional banks made up well over half (69%) of the accounts UK adults switched from, while newer digital challenger banks such as Monzo, Starling Bank and Revolut made up 25% of current accounts switched to.

Out of those who switched, nearly a third (31%) continued to keep their old account, pointing to the growing trend of individuals having multiple accounts for different purposes.

Money for something

With new players on the scene, competition for customers among banks is fierce; and they won’t be able to rely on blind loyalty. Less than a third of people (31%) considering switching, or those who had planned to do so but hadn’t done yet, said they would feel loyal to their bank if they knew they could get a better deal elsewhere. 

Cash incentives (27%) was the top reason given by people who had switched and set up a new bank account. This was followed by a better interest rate (21%). Many switchers cited how they were treated as customers as a key driver. Furthermore, 19% said their main reason was that the new bank would better recognise and reward their customers, while 14% said better engagement through rewards, offers and services. 

Commenting on the findings, Campbell Shaw, Head of Bank Partnerships at Cardlytics, said, “Switching is clearly here to stay. The money supermarket effect has meant it’s never been easier to shop around for a current account and people are voting with their feet. While that’s great for consumers after a deal, it puts banks in a tricky position. Many are committing big budgets and efforts to draw in new customers who may soon move on again when a better deal emerges.

“The coming year will be a real test for banks. As customers focus even more on value, how banks can offer them that while recognising their loyalty will be crucial.”

Top reasons why people switched:

1. Cash incentives (27%)
2. Better interest rate (21%)
3. Being recognised and rewarded (19%)
4. Superior mobile banking app (17%)
5. Poor service from previous bank (17%)
6. Personal recommendation (17%)
7. Better engagement through rewards, offers and services (14%)
8. Better rewards or cashback scheme (12%)
9. Most of their products already with the new bank (11%)
10. Previous bank didn’t offer the services I needed (11%)

Where the buck stops

Despite nearly half (48%) of UK adults admitting they know they aren’t getting the best deal with their current provider, half of the UK population have never switched their current account, leaving many cut out of the best rates, fees and rewards open to them.

Decision paralysis (44%), lack of time (32%), not finding a reward or incentive worth switching for (27%) and concerns over the hassle of switching (23%) are the most popular reasons for this.

In spite of efforts by the Current Account Switch Service to increase the number and frequency of current account switching, particularly among the hardest to reach and most vulnerable groups, the research found those who could benefit most from switching are the most likely not to.

One in three (30%) working class, unemployed, or on limited income adults have never switched their current account[3]. That’s compared to four in five (79%) upper- and middle-class professionals who have, a third (33%) of whom did in the last 12 months alone.

- ENDS -

Notes to editors

Research conducted by YouGov between 24.02.20 and 05.03.20.

Nationally representative sample of 1422 UK adults with a current account, who have either switched current account in the last 12 months, considered switching current account in the last 12 months but didn’t, or are considering switching current account in the next 12 months.

About Cardlytics

Cardlytics (NASDAQ: CDLX) uses purchase-based intelligence to make marketing more relevant and measurable. We partner with major financial institutions – including Lloyds and Santander – to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco, and Visakhapatnam. Learn more at www.cardlytics.com.

[1] Figure based on 7% of latest figure from Statista on the number of adults in the UK with a current account: https://www.statista.com/statistics/936174/number-of-adults-with-a-retail-or-savings-bank-account-united-kingdom/

[2] 12% of people said they would consider switching in the next 12 months; figure based on the previously mentioned Statista figure for the number of adults with a current account

[3] C2DE Social Grade

There’s no question, technology is reshaping the banking experience. But whose experience is it changing and to what benefit? To answer this question, Cardlytics analyzed the spending behavior of today’s tech-savvy bank customer across over 1,500 financial institution partners and found that bank rewards programs do much more than just appeal to savers. They attract young professionals in their 20s and 30s, transitioning through new life stages, and transform these valued customers into engagement superstars.

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Atlanta, GA – May 11, 2020 – Cardlytics, Inc. (NASDAQ: CDLX), a purchase intelligence platform that makes marketing more relevant and measurable, today announced financial results for the first quarter ended March 31, 2020. Supplemental information is available on the Investor Relations section of the Cardlytics' website at http://ir.cardlytics.com/.

“We delivered solid first quarter results, with billings, revenue and adjusted contribution in the upper half of our prior guidance,” said Scott Grimes, CEO & Co-Founder of Cardlytics. “Our team remains positive about the future and, despite the difficult nature of the COVID-19 crisis for our advertising partners, we have seen encouraging signs in our business.”

“Our key long term priorities of increasing the number of marketers working with us, bringing our solution to new industries, evolving the Cardlytics platform, and continuing to demonstrate operating leverage in our business still remain,” said Lynne Laube, COO & Co-Founder of Cardlytics. “With our clients facing severe swings in spend - both up and down - the value of our purchase intelligence and our ability to reach the right consumers with cash-back rewards is more important than it has ever been.”

First Quarter 2020 Financial Results

• Revenue was $45.5 million, an increase of 26% year-over-year, compared to $36.0 million in the first quarter of 2019.
• Billings, a non-GAAP metric, was $67.8 million, an increase of 16% year-over-year, compared to $58.6 million in the first quarter of 2019.
• Gross profit was $16.0 million, an increase of 16% year-over-year, compared to $13.7 million in the first quarter of 2019.
• Adjusted contribution, a non-GAAP metric, was $20.4 million, an increase of 16% year-over-year, compared to $17.6 million in the first quarter of 2019.
• Net loss attributable to common stockholders was $(13.5) million, or $(0.51) per diluted share, based on 26.7 million weighted-average common shares outstanding, compared to a net loss attributable to common stockholders of $(6.3) million, or $(0.28) per diluted share, based on 22.5 million weighted-average common shares outstanding in the first quarter of 2019.
• Non-GAAP net loss was $(7.0) million, or $(0.26) per diluted share, based on 26.7 million weighted-average common shares outstanding, compared to a non-GAAP net loss of $(5.1) million, or $(0.23) per diluted share, based on 22.5 million weighted-average common shares outstanding in the first quarter of 2019.
• Adjusted EBITDA, a non-GAAP metric, was a loss of $(4.0) million compared to a loss of $(3.2) million in the first quarter of 2019.

“We’re comfortable that our current capitalization and liquidity will provide us the financial flexibility to weather the economic downturn triggered by COVID-19 and continue with some prudent, strategic investments,” said Andy Christiansen, CFO of Cardlytics. “While there’s a lot of near-term uncertainty, we’re focused on achieving our long-term operational and financial goals and remain optimistic about seizing the opportunities in front of us.”

Key Metrics

• FI MAUs were 140.8 million, an increase of 30%, compared to 108.5 million in the first quarter of 2019.
• ARPU was $0.32, a decrease of (3)%, compared to $0.33 in the first quarter of 2019.

Definitions of FI MAUs and ARPU are included below under the caption “Non-GAAP Measures and Other Performance Metrics.”

Earnings Teleconference Information

Cardlytics will discuss its first quarter 2020 financial results during a teleconference today, May 11, 2020, at 5:00 PM ET / 2:00 PM PT. The conference call can be accessed at (866) 385-4179 (domestic) or (210) 874-7775 (international), conference ID# 5355829. A replay of the conference call will be available through 8:00 PM ET / 5:00 PM PT on May 18, 2020 at (855) 859-2056 (domestic) or (404) 537-3406 (international). The replay passcode is 5355829. The call will also be broadcast simultaneously at http://ir.cardlytics.com/. Following the completion of the call, a recorded replay of the webcast will be available on Cardlytics’ website.

About Cardlytics

Cardlytics (NASDAQ: CDLX) uses purchase intelligence to make marketing more relevant and measurable. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco and Visakhapatnam. Learn more at www.cardlytics.com.

Atlanta, GA – May 7, 2020 – Cardlytics, Inc., (NASDAQ: CDLX), a purchase intelligence platform that makes marketing more relevant and measurable, today announced it will present at two upcoming conferences: the J.P. Morgan 48^th Annual Global Technology, Media and Communications Conference and the 15^th Annual Needham Technology & Media Conference, both of which will be held virtually.

• Incoming Chief Executive Officer and Co-Founder, Lynne Laube, will present at the J.P. Morgan Conference on Wednesday, May 13 at 11:10 a.m. Eastern Time and will be webcast live.

• Ms. Laube will present at the Needham Conference on Tuesday, May 19, 2020 at 11:30 a.m. Eastern Time and will be webcast live.

A live audio webcast of each event will be available on the Cardlytics Investor Relations website at http://ir.cardlytics.com/. After the events, an archive of the webcasts will also be available for a limited time on the Cardlytics Investor Relations website.

About Cardlytics

Cardlytics (NASDAQ: CDLX) uses purchase intelligence to make marketing more relevant and measurable. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco and Visakhapatnam. Learn more at www.cardlytics.com.

This new report analyzes attitudes of more than 3,000 UK bank customers, and highlights key factors which must be considered for Open Banking to truly take hold in the UK. While there are still barriers to adoption, the report found cause for optimism, with a growing number of people saying they would open up access to their financial data if the proposition was right for them. It also established the tipping points at which consumers would engage with Open Banking offerings. While the research found a clear trust barrier to adoption, it sheds light on those best-placed to succeed.

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This white paper examines the impact of interchange fee limits on customer engagement programs, and quantifies how the Cardlytics Card-Linked Marketing program in place at Bank of America, PNC Bank, Regions Bank—and hundreds of others—has stayed attrition and increased debit and credit card use and spending.

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Online, high streets, or shopping centres - which categories see the most consumer spend? To find out, Cardlytics used purchase intelligence to analyze spend from over two million consumers across a range of retailers, across London's Oxford Street, Westfield London and online. The results emphasize that despite the increasing prominence of online retail, bricks and mortar shops still play a crucial role in the retail world. As such, retailers that engage customers across multiple channels will ultimately win more spend. 

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