DivestmentMay 7, 2026, 04:32 PM
Cardlytics Completes Bridg Divestment; Q1 Net Loss $4.48M
AI Summary
Cardlytics, Inc. completed the divestment of its Bridg platform on March 24, 2026, receiving 1,810,222 shares of PAR Technology Corporation common stock and recording a $14.5 million gain on divestiture. For the first quarter of 2026, the company reported a total net loss of $4.48 million, a significant improvement from the $13.28 million net loss in Q1 2025, largely due to the gain from discontinued operations. Revenue from continuing operations decreased to $34.32 million from $56.44 million year-over-year.
Key Highlights
- Completed the divestment of its Bridg platform on March 24, 2026.
- Recorded a $14.5 million gain on divestiture for the three months ended March 31, 2026.
- Reported a total net loss of $4.48 million for Q1 2026, compared to a $13.28 million net loss in Q1 2025.
- Revenue from continuing operations was $34.32 million in Q1 2026, down from $56.44 million in Q1 2025.
- Operating loss from continuing operations improved to $8.27 million in Q1 2026 from $11.12 million in Q1 2025.
- Cash and cash equivalents stood at $35.67 million as of March 31, 2026.
- Net cash used in operating activities improved to $5.64 million in Q1 2026 from $6.71 million in Q1 2025.
- Reduced Line of Credit debt to $35.07 million as of March 31, 2026, from $40.07 million at year-end 2025.