Cardlytics ($CDLX): 3Q24 Pre-Earnings Analysis (Research Note #284)

Analysis of Q3 2024 based on the data, trends, and observations made throughout the quarter.

Before CDLX releases Q3 earnings tomorrow after market close, I wanted to share my analysis on the data, trends, and observations made throughout Q3 and to start Q4, as seen in the weekly CDLX Reports.

I was hoping to get this out sooner, but as you will see, there is a lot of information here.

I shared a similar type of analysis prior to Q2, which contained information that contributed to me decreasing my overall allocation of CDLX prior to earnings.

This Research Note on Q3 contains information that led me to significantly increase my allocation of CDLX. I also discuss that allocation decision in this CDLX Research Note below.

I start with some high-level thoughts (serves as a summary of this post):

1. Positive Factors

2. Neutral Factors

3. Negative Factors

I then go into detail on the following:

1. Recap + Q3/Q4 Guidance

2. Unique Advertisers and Offer Count in Q3

3. Redemptions in Q3 vs Q2

4. Large and Attractive Advertisers in Q3

5. Chase Updates in Q3

6. WFC and BofA Progress

7. New Advertiser Insights Portal (Dashboard)

8. Bridg / Rippl

9. Dosh

10. CMS Inventory

11. Operating Expenses + Hiring / Departures

12. Nasdaq Event

13. Q4 2024 Guidance

14. Possible Announcements / Updates

15. Long- / Medium-Term View Based on Q3 (and Investment Prospects and Decisions)

Enjoy.