Why Cardlytics Inc (NASDAQ: CDLX) stock investors are panicking

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Cardlytics Inc (NASDAQ: CDLX) stock had plunged over 30.3% Cardlytics Inc (NASDAQ: CDLX) stock after the company announced an executive shakeup. Cardlytics’ co-founder and current Chief Operating Officer Lynne Laube would take over the chief executive job on May 15. Current CEO Scott Grimes has been appointed as the executive chairman of the board. On March 4, Chief Financial Officer David Evans will move to the chief administrative officer job and Andy Christiansen will take over the role of CFO. The company has reported fourth-quarter net income of $3.4 million, compared to a loss of $11.6 million, in the year-ago period. For FY 19, the company has reported Non-GAAP net income was $(1.9) million, based on 23.7 million non-GAAP weighted-average common shares outstanding, compared to a loss of $(14.8) million, based on 20.2 million non-GAAP weighted-average common shares outstanding in 2018.

Moreover, billings, a non-GAAP metric, was $100.9 million, which represents an increase of 43.7% year-over-year, compared to $70.2 million in the fourth quarter of 2018. Adjusted contribution, was $31.0 million, which represents an increase of 40.4% year-over-year, compared to $22.1 million in the fourth quarter of 2018. Adjusted EBITDA, was a gain of $6.9 million, which is an increase of $6.6 million year-over-year, compared to a gain of $0.3 million in the fourth quarter of 2018. Further, the company delivered Average FI MAUs in the quarter of 133.4 million, which is an increase of 60.3%, compared to 83.2 million in the fourth quarter of 2018. ARPU in the fourth quarter was $0.52, a decline of (8.8)%, compared to $0.57 in the fourth quarter of 2018.

CDLX in the fourth quarter of FY 19 has reported the adjusted earnings per share of 12 cents, beating the analysts’ estimates for the adjusted loss per share of 18 cents, according to analysts surveyed by FactSet. The company had reported the adjusted revenue growth of 44.9 percent to $69.3 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $64.6 million.

For the first quarter, analysts project a loss of 27 cents a share and sales is expected to be of $54.1 million. The company expects first quarter revenue to be in the range of $43.5 million to $46.5 million. Billings are expected to be in the range of $64.0 – $69.0. Adjusted contribution is expected to be in the range of  $19.0 – $20.5 and Adjusted EBITDA is expected to be in the range of ($4.5) – ($3.0)

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