Cardlytics
Cardlytics (NASDAQ: CDLX) is a commerce media platform that uses first-party purchase data from major bank partners to deliver card-linked marketing offers to over 215 million monthly users. It serves consumer advertisers across retail, travel, telecom, and grocery verticals through embedded integrations in bank digital channels.
- Company typePublic
- Founded2008
- HeadquartersAtlanta, United States
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Cardlytics does
Cardlytics (NASDAQ: CDLX) is a commerce media platform that operates a card-linked offer network embedded within the digital banking channels of major financial institutions. Founded in 2008 and headquartered in Atlanta, Georgia, the company leverages first-party purchase data from bank cardholders to deliver targeted marketing offers from consumer advertisers when customers interact with their bank apps or online banking portals. The platform claims visibility into approximately half of all US card swipes and reaches roughly 215 million monthly active users through bank partnerships that include Wells Fargo, Bank of America, JPMorgan Chase, and Lloyds Banking Group. The Monzo partnership extends reach into the United Kingdom.
The core technology processes anonymized purchase transaction data to predict consumer intent and serve relevant card-linked offers that link merchant-funded incentives to a customer's debit or credit card. When a qualifying transaction occurs, the offer is funded by the advertiser and settled through the platform. Cardlytics generates revenue primarily from advertisers on a pay-per-outcome or cost-per-sale basis when qualified purchases are made, with the advertiser base spanning retail, restaurant, travel, telecom, and grocery verticals. In May 2025, the company launched the Cardlytics Rewards Platform to broaden its product surface, and in March 2026 it divested its Bridg data analytics subsidiary to PAR Technology for $27.5 million to refocus on the core commerce media business.
The business model creates a two-sided network in which more bank partners expand the user base and data depth, which attracts more advertisers, whose funded offers drive engagement that benefits bank partners. Reported FY2025 revenue was $233.3 million, down from $309.2 million in 2023, with a net loss of $103.5 million and negative EBITDA of $21.9 million. The company implemented a 30% workforce reduction in October 2025 and executed a reverse stock split in June 2026 to maintain NASDAQ listing compliance, reflecting a period of operational restructuring.
Cardlytics firmographics
Firmographics- Name
- Cardlytics
- Legal name
- Cardlytics, Inc.
- Website
- https://cardlytics.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Cardlytics (NASDAQ: CDLX) is a commerce media platform that uses first-party purchase data from major bank partners to deliver card-linked marketing offers to over 215 million monthly users. It serves consumer advertisers across retail, travel, telecom, and grocery verticals through embedded integrations in bank digital channels.
- Ownership category
- akta.pro rank
Cardlytics industry classification
Industry- Product category
- Commerce Media Platform
- NAICS
- Nondepository Credit Intermediation (5222)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Card Issuing & Program Management Platforms (BPAMAFAH)
- akta.pro secondary industries
- Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Cards & Issuing Management (Debit/Prepaid/Credit, Program Management) (FSAGAAAE)
Keywords
Where Cardlytics is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Cardlytics business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Others
Revenue model
- Advertising Revenue: Revenue generated from marketers and brands who pay to advertise on the Cardlytics platform embedded within bank digital channels. Advertisers pay for card-linked offers and targeted advertising campaigns with measurable performance.
- Platform Access Fees: Fees charged to financial institution partners for access to the Cardlytics platform that drives customer engagement and loyalty through card-linked rewards.
- Transaction-Based Revenue: Revenue earned when consumers activate and redeem card-linked offers, with payment triggered by actual purchase transactions at participating merchants.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Cardlytics product offering
Product offeringCore offering
Cardlytics operates a commerce media platform that leverages first-party purchase data from financial institution partners to deliver card-linked advertising offers within bank digital channels (online banking and mobile apps). The platform enables national advertisers and brands to acquire, re-engage, and retain customers through personalized cash-back offers while measuring campaign performance down to the actual transaction level.
Product overview
Cardlytics operates as a commerce media platform with two main product lines: the core Cardlytics Platform for card-linked advertising through financial institution partners, and the Cardlytics Rewards Platform which extends beyond banks to include retail and restaurant publishers. Key modules include Purchase Intelligence for consumer spending analytics, the Native Bank Channel for ad placement, and Campaign Measurement for closed-loop attribution. The platform serves nearly 215 million monthly active users across the U.S. and U.K.
Differentiator
Problem solved
Functional benefit
Brands
- Cardlytics Rewards Platform (CRP): Platform launched in May 2025 allowing publishers to enhance customer loyalty programs with card-linked offers, expanding beyond financial institutions to retail and restaurant verticals.
Products and services
- Cardlytics Platform Cardlytics' core commerce media platform that enables card-linked advertising within financial institution digital channels, leveraging first-party purchase data to deliver measurable sales impact for national advertisers and brand marketers.
- Cardlytics Rewards Platform Platform extension that enables publishers beyond financial institutions, including retailers and restaurants, to deliver card-linked offers within their existing loyalty programs and customer engagement experiences, targeting consumers based on purchase data.
Quantifiable outcome
- Measurable sales delivered: $46 billion+
- +8 more outcomes
Companies that use Cardlytics
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
Cardlytics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature4 records
Cardlytics partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- PAR Technology CorporationcorePAR Technology acquired Bridg (Cardlytics division) for $27.5 million in PAR stock (up to $30 million). Deal closed March 24, 2026. Cardlytics received 1,810,222 shares of PAR common stock as consideration.
- PayfareminorPartnership to launch cash back rewards program, enabling Payfare's financial services customers to access card-linked offers.
- Monzo Bank Ltd.coreStrategic partnership to deliver real-time, personalized cashback offers to Monzo's customers in the UK. Monzo is a leading digital bank serving millions of customers in the UK.
Scale indicators9 records
Recent moves8 records
Expansion highlights4 records
Cardlytics competitors and assessment
Company assessmentDirect peers
- Criteo: Global commerce media platform delivering personalized advertising and closed-loop measurement across retail and digital channels. Cardlytics' CBO Rory Mitchell was previously Global GM of Criteo's performance marketing business, and both companies compete for the same advertiser budgets in commerce media.
- Rakuten: Global cashback and affiliate marketing platform with a large consumer rewards network. Competes with Cardlytics for advertiser attention in the cashback/incentive space and operates similar card-linked offer programs with bank and merchant partners.
- Fetch Rewards: Consumer rewards platform that uses purchase receipt data to deliver personalized offers and cashback. Competes for advertiser dollars in the rewards-driven commerce media space and targets similar CPG and retail verticals.
- Coupons.com (Quotient Technology): Digital coupon and promotional offers platform that uses transaction data to deliver targeted savings and measure redemption. Operates a similar value proposition to Cardlytics in connecting advertisers with consumers via purchase-based offers, though now operating under Neptune Retail Solutions after Quotient's acquisition.
- Ibotta: Cashback rewards platform that uses transaction data to deliver targeted offers and measure purchase outcomes. Operates a similar card-linked offer model but is consumer-facing (Dosh was a comparable app before Cardlytics acquired and shut it down).
- LiveRamp: Data connectivity platform that enables advertisers and platforms to leverage first-party data for audience targeting and measurement. Directly comparable in providing the data infrastructure that powers purchase-based advertising and closed-loop attribution.
Broad incumbents
- Walmart Connect: Walmart's retail media network providing advertisers with closed-loop measurement using Walmart's first-party purchase data. Represents a major competitive threat to Cardlytics' bank-distributed model by offering similar purchase intelligence at scale.
- The Trade Desk: Large independent demand-side platform enabling advertisers to buy digital media across channels. While not a card-linked offer network, it competes with Cardlytics for advertiser budgets and is investing in commerce media capabilities through its Solimar platform.
- Instacart Ads: Retail media arm of Instacart offering CPG advertisers targeted campaigns based on grocery purchase data with closed-loop measurement. Directly comparable to Cardlytics' Purchase Intelligence for grocery and CPG advertisers, where Cardlytics has case study wins (The GIANT Company).
- Epsilon: Data-driven marketing platform owned by Publicis that offers audience targeting, personalization, and measurement using first-party data. Operates adjacent capabilities to Cardlytics in data-driven advertising, particularly through its Conversant performance media business.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Cardlytics social profiles
Digital presenceCardlytics compliance and trust
Trust signalCompliance3 records
Cardlytics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cardlytics leadership team
Management profileNumber of profiles
Profiles7 records
Cardlytics subsidiaries and ownership
Company hierarchySubsidiaries2 records
Cardlytics funding detail
Funding detailFunding overview
Funding rounds9 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cardlytics M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cardlytics
What does Cardlytics do?
Cardlytics operates a commerce media platform that leverages first-party purchase data from financial institution partners to deliver card-linked advertising offers within bank digital channels (online banking and mobile apps). The platform enables national advertisers and brands to acquire, re-engage, and retain customers through personalized cash-back offers while measuring campaign performance down to the actual transaction level.
Is Cardlytics a public or private company?
Cardlytics is a public company. It is classified as public and is currently operating.
When was Cardlytics founded?
Cardlytics was founded in 2008. It employs 251 to 500 people.
Where is Cardlytics based?
Cardlytics is headquartered in Atlanta, United States, in the North America region.
How does Cardlytics make money?
Three revenue lines are on record. Advertising Revenue is the primary driver. The others are platform Access Fees and transaction-Based Revenue.
Who are Cardlytics's main competitors?
Direct peers on record are Criteo, Rakuten, Fetch Rewards, Coupons.com (Quotient Technology), Ibotta and LiveRamp. Broad incumbents are Walmart Connect, The Trade Desk, Instacart Ads and Epsilon.
Does Cardlytics have an API?
Yes. Cardlytics exposes a public API. Developer documentation is at platform.cardlytics.com.
What industry is Cardlytics in?
Cardlytics's product category is Commerce Media Platform. Its primary akta.pro industry code is BPAMAFAH, Card Issuing & Program Management Platforms, with a secondary code of FSAGALAC, Embedded Card Issuing & Card-as-a-Service. Its NAICS code is 5222 and its SIC code is 6199.