What happened

Shares of Cardlytics (NASDAQ:CDLX) skyrocketed 42.9% on Wednesday after the purchase-intelligence technology company posted a surprise non-GAAP (adjusted) profit in the third quarter and raised its full-year outlook.

So what

More specifically on the former, Cardlytics' quarterly revenue grew 63% year over year to $56.4 million, translating to adjusted net income of $800,000, or $0.03 per share. By comparison, Cardlytics' guidance provided in August called for lower revenue of $46 million to $50 million, and most analysts were modeling an adjusted loss of $0.15 per share.

Man in white shirt and tie celebrating in front of wooden chart indicating gains.

IMAGE SOURCE: GETTY IMAGES.

Cardlytics' billings also soared 70% year over year to $82.8 million, well above its guidance for a range of $70 million to $76 million.

"With our successful rollout of Chase complete and our upcoming rollout of Wells Fargo, our scale gives marketers the ability to reach bank customers at massive scale," added Cardlytics Co-Founder and COO Lynne Laube. "Our ongoing initiatives to penetrate new verticals and enable a more automated buying model positions Cardlytics extraordinarily well for continued growth."

Now what

For the fourth quarter, Cardlytics sees revenue arriving in the range of $55 million to $59 million, with billings of $82 million to $88 million.

As such, Cardlytics raised its full-year guidance to call for 2019 revenue of $196 million to $200 million (up from $180 million to $190 million before), and billings of $297 million to $303 million (up from $275 million to $290 million previously).