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Added to YB: 2026-06-10

Pitch date: 2026-06-07

CDLX [neutral]

Cardlytics, Inc.

-11.69%

current return

Author Info

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Company Info

Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom. The company provides Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data from merchant data partners, including product-level purchase data to enable marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.

Market Cap

$33.0M

Pitch Price

$5.39

Price Target

N/A

Dividend

N/A

EV/EBITDA

-14.88

P/E

-0.30

EV/Sales

0.87

Sector

Media

Category

value

Show full summary:
Cardlytics: The Silence of the Lambs

CDLX (exited position): Author exited after admitting moat error (banks can replicate in-house). Stock -99% ($150 to <$1) while shares +156% (22M to 58M). $251M stock comp since 2018 (5x current $50M mkt cap); $655M+ writeoffs on $856M 2021 deals. Adj EBITDA masks $189M loss as $2.5M profit. New exec granted 1M shares at $0.90 Jan 2026. Egregious dilution.

Read full article (5 min)