Cardlytics Completes Sale of Bridg Assets to PAR Technology
Cardlytics, Inc. (NASDAQ:CDLX), a digital advertising platform in banks' digital channels, today announced the closing of the previously announced sale of the Bridg business to PAR Technology Corporation (NYSE:PAR).
Cardlytics will receive 1,810,222 shares of PAR Technology common stock as consideration for the sale of the Bridg assets.
"The completion of this transaction marks an important milestone for Cardlytics," said Amit Gupta, Chief Executive Officer of Cardlytics. "Over the past several quarters, we have taken deliberate steps to sharpen our strategic focus and align our resources around the highest-impact opportunities in our business. With the sale of the Bridg assets, we are further simplifying our operating model and concentrating more heavily on scaling our core Cardlytics platform – the area where we believe we have a distinct competitive advantage and a clear path to long-term value creation."
"The PAR equity we are receiving in the transaction represents a meaningful financial asset for Cardlytics," added David Evans, Chief Financial Officer of Cardlytics. "We expect to monetize this position strategically based on market conditions, which will meaningfully strengthen our balance sheet. Specifically, we anticipate using the proceeds to pay down a majority of the outstanding balance on our line of credit, improve our financial flexibility, and accelerate our progress toward long-term financial self-sustainability."
In connection with the transaction, employees and operations associated with the Bridg business have transitioned to PAR Technology as part of the asset transfer.
The transaction was originally announced on January 26, 2026, and closed today following the satisfaction of customary closing conditions.
About Cardlytics
Cardlytics (NASDAQ:CDLX) is a commerce media platform, powered by our publishers' first-party purchase data, that makes commerce smarter and more rewarding for everyone. We offer a range of solutions to help advertisers and publishers grow and strengthen customer loyalty. With visibility into approximately half of all card-based transactions in the U.S. and a quarter in the U.K., Cardlytics enables advertisers to engage consumers at scale and drive incremental sales through our industry-leading card-linked offer network. Publisher partners can enhance their platforms with relevant and personalized offers that improve the shopping experience for their customers. Cardlytics also offers identity resolution capabilities through Bridg, which helps convert anonymous shoppers into known and reachable customers. Learn more at www.cardlytics.com or follow us on LinkedIn.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements related to monetizing the PAR equity, paying down a majority of the line of credit and progressing towards financial self-sustainability. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," or variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control.
Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: risks related to unfavorable conditions in the global economy and the industries that we serve; our quarterly operating results have fluctuated and may continue to vary from period to period; our ability to sustain our revenue growth and billings; risks related to our substantial dependence on our Cardlytics platform; risks related to our substantial dependence on JPMorgan Chase Bank, National Association ("Chase"), Wells Fargo Bank, National Association ("Wells Fargo") and a limited number of other financial institution ("FI") partners; risks related to our ability to maintain relationships with Chase and Wells Fargo; the amount and timing of budgets by marketers, which are affected by budget cycles, economic conditions and other factors; our ability to generate sufficient revenue to offset contractual commitments to FI partners; our ability to attract new partners, including FI partners, and maintain relationships with bank processors and digital banking providers; our ability to maintain relationships with marketers; our ability to adapt to changing market conditions, including our ability to adapt to changes in consumer habits, negotiate fee arrangements with new and existing partners and retailers, and develop and launch new services and features; and other risks detailed in the "Risk Factors" section of our Form 10-K filed with the Securities and Exchange Commission on March 4, 2026 and in subsequent periodic reports that we file with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results.
The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
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