Cardlytics, Inc. (NASDAQ:CDLX) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET
Company Participants
Nick Lynton - Chief, Legal and Privacy Officer
Karim Temsamani - CEO
Alexis DeSieno - CFO
Conference Call Participants
Kyle Peterson - Needham
Jason Kreyer - Craig Hallum
Jacob Stephan - Lake Street Capital Markets
Operator
Good day and thank you for standing by. Welcome to the Cardlytics Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Nick Lynton.
Nick Lynton
Good evening and welcome to the Cardlytics first quarter 2024 financial results call. Before we begin, let me remind everyone that today's discussion will contain forward-looking statements based on our current assumptions, expectations, and beliefs, including expectations regarding our future financial performance and results, including, for the second quarter of 2024, our capital structure and various product initiatives and improvements.
For a discussion of the specific risk factors that could cause our actual results to differ materially from today's discussion, please refer to the Risk Factors section of the company's 10-Q for the quarter ended March 31st, 2024, which has been filed with the SEC. Also during this call, we will discuss non-GAAP measures of our performance. GAAP financial reconciliations and supplemental financial information are provided in the press release issued today and the 8-K that has been filed with the SEC, which you can find on the Investor Relations section of the Cardlytics website.
Today's call is available via webcast and a replay will also be available on our website. Joining us on the call today is Cardlytics' CEO, Karim Temsamani; and CFO, Alexis DeSieno. Following their prepared remarks, we'll open the call to your questions.
With that said, let me turn the call over to Karim.
Karim Temsamani
Good evening and thank you for joining our Q1 2024 earnings call.
On our last earnings call, I highlighted the progress we made in 2023 and early 2024. We rebalanced our cost structure, resolved the SRS dispute, invested in our tech and products, renegotiated partner agreements and signed a new bank partner. I also discussed how we could now fully focus on execution and growth, as well as addressing our capital needs.
Since the call, we made significant steps to remove the capital concerns around the company. We raised $50 million in cash and repurchased the majority of our outstanding 2020 convertible notes at prices below par and issued new convertible notes not due until 2029. Coupled with our positive adjusted EBITDA results for full-year 2023 and now also in Q1 2024, we believe we have fully addressed our balance sheet issues, ensuring our bank partners and advertisers have confidence to work with us in the long term.