Cardlytics shares pop on rosy 4Q preliminary results

Shares of Cardlytics Inc (NASDAQ:CDLX), are still popping a day after the marketing-focused technology company posted preliminary results for the fourth quarter of 2018.

The Atlanta, Georgia company, which partners with more than 2,000 financial institutions to run banking reward programs, said its total revenue for last year’s final quarter, ending on December 31, is set to fall between $47 million and $48 million.

In other news, its so-called FI MAUs, which track log-ins and visits to its online or mobile banking applications, is set to exceed 80 million in the fourth quarter.

Happy about the preliminary report, investors sent Cardlytics shares up 16% to $17.41 in afternoon trade on Tuesday.

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“We are pleased with our revenue performance in the fourth quarter, which is expected to be above our prior guidance,” said Scott Grimes, CEO of Cardlytics in a statement. “In addition, we had strong MAU growth in the fourth quarter and expect that growth to continue into 2019.”

The company will report its full fourth quarter 2018 results on March 5.

Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco and Visakhapatnam. It uses the intelligence it gleans from data on banking rewards programs to help marketers reach buyers and measure the sales impact of marketing campaigns.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors