What happened
Shares of Cardlytics (CDLX +5.54%) jumped 20.2% today after the purchase-intelligence platform specialist announced better-than-expected second-quarter 2019 results.
More specifically this morning, Cardlytics revealed its quarterly revenue soared 37% year over year to $48.7 million, translating to a non-GAAP (adjusted) net loss of $2.7 million, or $0.12 per share (narrowed from a loss of $0.21 per share in the same year-ago period). Analysts, on average, were modeling a wider net loss of $0.22 per share on revenue closer to $43.8 million.
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So what
CEO Scott Grimes called it "another strong quarter," noting financial institution monthly average users (or FI MAUs) more than doubled year over year to 120.1 million, while billings grew 43% to $73.8 million.
"In addition to completing the roll-out to Chase's online banking channel in Q2, we made good progress against initiatives designed to drive multiyear growth," added COO Lynne Laube. "We've seen early success in new growth verticals such as travel and entertainment, grocery, and e-commerce, and are laying the groundwork to move to a more automated, always-on buying model for marketers."
Now what
For the third quarter, Cardlytics expects revenue of $46 million to $50 million -- roughly in line with analysts' consensus expectations -- with billings ranging from $70 million to $76 million.
Combined with its relative outperformance in the second quarter, Cardlytics now sees full fiscal-year 2019 revenue of $180 million to $190 million, with billings of $275 million to $290 million. Both mark a $5 million increase to the bottom ends of Cardlytics' previous respective outlook ranges, provided in May.
