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With the Cardlytics platform, we enable marketers to reach potential customers across our network of FI partners through their digital banking accounts and present them relevant offers to save money when they are thinking about their finances.
−Removed: With the Bridg platform, we enable marketers to leverage their own POS data and reach their customers across a wide variety of digital advertising channels that they would not otherwise be able to identify and reach, or to reach customers based on their product-level past purchases.
+Added: With the Bridg platform, we enable marketers to leverage their own POS data and reach their customers across a variety of digital advertising channels, while also providing measurement of marketing performance based on actual customer purchases.
Marketers are also challenged to measure the performance of their marketing, and our financial media network addresses these challenges by enabling marketers to precisely measure how marketing drives both in-store and online sales through "closed loop-measurement."
+Added: In January 2026, we entered into a definitive agreement to sell substantially all of the assets primarily related to, or primarily used in, our Bridg platform to an affiliate of PAR Technology Corporation.
+Added: The transaction is subject to customary closing conditions and has not yet closed.
+Added: Until the closing of the transaction, the Bridg platform continues to operate as part of our business.
The Cardlytics Platform
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Leveraging our powerful predictive analytics, we create compelling rewards that have the potential to drive deeper and more sustained use of the FI's digital channels, which we believe reduces customer attrition and increases use of the FI partners’ credit and debit cards.
−Removed: Today, our FI partners include Bank of America, National Association ("Bank of America"), JPMorgan Chase Bank, National Association ("Chase"), Wells Fargo Bank, National Association ("Wells Fargo"), and American Express Travel Related Services Company, Inc.
−Removed: ("American Express"), as well as many other national and regional financial institutions, financial technology companies and virtual-only banks.
+Added: Today, our FI partners include JPMorgan Chase Bank, National Association ("Chase"), Wells Fargo Bank, National Association ("Wells Fargo"), and American Express Travel Related Services Company, Inc.
+Added: ("American Express"), as well as many other national and regional financial
+Added: institutions, financial technology companies and virtual-only banks.
We also partner with multiple bank processors and digital banking providers to help us reach customers of small and mid-sized FI partners.
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Bridg also enables marketers to measure the impact of their marketing.
−Removed: The Bridg platform's unique ability to identify, understand, and engage previously unreachable in-store customers is made possible through industry leading identity resolution capabilities, a proprietary census of customers' identity and characteristics, and unique strategic data partnerships.
−Removed: In 2023, we launched an additional product offered through the Bridg platform, Rippl, our retail media network.
−Removed: This product is a unique solution that unlocks profitable retail media partnerships for regional grocers, brands, and consumer packaged goods companies by leveraging customer data in order to strengthen targeting capability for retail media purposes.
+Added: In 2023, we launched an additional product offered through the Bridg platform, Rippl.
+Added: This product provides retail media capabilities for regional grocers, brands, and consumer packaged goods companies by leveraging customer data to support targeting capability for retail media purposes.
Data and Analytics
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Point-of-Sale Data from our Merchant Data Partners
−Removed: Using POS data from our merchant data partners and our proprietary bureau of offline identity information, the Bridg platform associates customer transactions with anonymized identifiers.
−Removed: We then build anonymized profiles that include product-level purchase history and hundreds of customer attributes to enable marketing and analytics.
+Added: Using POS data from our merchant data partners and identity information, the Bridg platform associates customer transactions with anonymized identifiers.
+Added: We then build anonymized profiles that include product-level purchase history and customer attributes to enable marketing and analytics.
Advanced Analytics Capabilities
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Our analytics make our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and create more meaningful customer connections.
−Removed: Since we are able to measure the impact marketing campaigns have on in-store and online sales, marketers can use our data capabilities to optimize their advertising efforts with new or increased investment in the Cardlytics and Bridg platforms.
+Added: Since we are able to measure the impact marketing campaigns have on in-store and online sales, marketers can use our data capabilities to optimize their advertising efforts with new or increased investment in the Cardlytics platform.
Given our granular view into consumer spending across all categories, we can also help marketers identify share shift against their competition and learn more about where else their customers spend their money.
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• Massive Data Set and Reach .
−Removed: During 2024, the Cardlytics platform analyzed approximatel y $5.8 trillion in purchases across all categories and geographies, both online and in-store.
+Added: During 2025, the Cardlytics platform analyzed approximately $5.7 trillion in purchases across all categories and geographies, both online and in-store.
We have access to purchase data on the Cardlytics platform in the form of credit, debit, ACH and bill pay transactions.
We provide marketers with the opportunity to leverage this unique data set to precisely reach millions of consumers.
−Removed: The Bridg platform gives marketers the ability to leverage insight of their own POS transactional purchase data to better understand their customers, inform their marketing strategies and measure the impact of their marketing.
• Significant Scale with Marketers due to Consumer Insights and Compelling Return on Advertising Spend .
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Likewise, although marketers may have access to data on the purchase behavior of their customers in their stores and on their websites, they lack visibility about these customers' overall spending patterns and the purchasing behavior of other likely buyers.
−Removed: Through the Cardlytics and Bridg platforms, we reach and influence real buyers at scale and measure the true, incremental impact marketing campaigns have on in-store and online sales.
+Added: Through the Cardlytics platform, we reach and influence real buyers at scale and measure the true, incremental impact marketing campaigns have on in-store and online sales.
Our targeting capabilities allow marketers to tailor their campaigns to align with their marketing strategies.
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Our analytics make our data actionable, enabling us to develop insights that marketers and partners rely on to make more informed business decisions and create more meaningful customer connections.
−Removed: • Loyalty Tactics Beyond Loyalty Programs .
−Removed: The Bridg platform easily ingests POS data, allowing marketers to identify and reach previously unreachable customers.
−Removed: This allows marketers to utilize loyalty tactics across all of their customers and enjoy rich insights, targeted marketing capabilities, and closed loop measurement regardless of their digital presence.
• World-Class Management Team with Unique Combination of Backgrounds and Experiences .
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We intend to continue expanding our sales and marketing efforts to grow our share of advertising budgets from existing marketers and attract new brands, merchants and service providers, both directly and through advertising agencies.
−Removed: We also intend to continue growing the footprint of the Bridg platform through both new and existing merchant data partners.
−Removed: • Continue to Realize Synergies between the Cardlytics and Bridg Platforms.
−Removed: The power of Bridg allows for synergies with the current Cardlytics platform by creating more relevant offers, and more targeted segments, that can drive higher redemptions, increase consumer engagement, and generate greater advertiser demand.
−Removed: The SKU-level data allows us to bring receipt-level offers to our advertisers, enabling us to tailor promotions based on specific items and quantities.
−Removed: These types of offers enhance the precision of the advertising efforts and boost the relevancy of the offers to the end consumers.
−Removed: We believe that further integrating the Cardlytics and Bridg platforms has the potential to enable more effective media measurement, price and promotion optimization, more optimal partner relationships and further international expansion.
• Drive Growth through Existing FI Partners .
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We will continue to focus on growing our network of partners by integrating with new FI partners, non-bank partners, and merchant data partners.
−Removed: Each new partner increases the size of our data asset and addressable audience, increasing the value of the Cardlytics and Bridg platforms to both marketers and our existing partners, which we believe will drive growth.
+Added: Each new partner increases the size of our data asset and addressable audience, increasing the value of the Cardlytics platform to both marketers and our existing partners, which we believe will drive growth.
• Grow the Platform Through Integrations with Partners .
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Under the GSA, we share the revenue that we generate from the sale of advertising within the Bank of America channel with Bank of America, subject to certain exceptions.
+Added: On April 22, 2025, we received a written non-renewal notice from Bank of America related to our agreements, which each were scheduled to expire pursuant to their terms effective as of July 31, 2025.
+Added: Pursuant to the agreements, Bank of America requested that we continue to provide uninterrupted operations under the agreements for a period through January 27, 2026, which period was extended through February 16, 2026, at which point our relationship with Bank of America ended.
Agreements with Chase
−Removed: In May 2018, we entered into a Master Agreement and Schedule #1 to the Master Agreement (collectively, the "Master Agreement") with Chase, pursuant to which we provide Chase with access to the Cardlytics platform.
−Removed: Under the Master Agreement, we provide Chase with access to the Cardlytics platform through November 19, 2025.
+Added: In May 2018, we entered into a Master Agreement and Schedule #1 to the Master Agreement (collectively, the "Master Agreement") with Chase, pursuant to which we agreed to provide Chase with access to the Cardlytics platform.
+Added: Under the Master Agreement, we agreed to provide Chase with access to the Cardlytics platform.
Chase may terminate the Master Agreement at any time upon 90 days' written notice.
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In June 2023, we entered into an amendment that increased the portion of advertiser billings that is retained by the Company.
+Added: In July 2025, we further amended the Schedule to extend its term through November 18, 2028 and update certain billing share, incentive and reporting provisions.
Sales and Marketing
Our sales teams are focused on growing our share of advertising budgets from existing marketers and attracting new brands, merchants and service providers, both directly and through advertising agencies.
−Removed: Our marketing efforts are focused on increasing brand awareness for Cardlytics and Bridg through partnerships, public relations, industry events and publications.
+Added: Our marketing efforts are focused on increasing brand awareness for Cardlytics through partnerships, public relations, industry events and publications.
We have dedicated sales teams responsible for establishing relationships with marketers and their agencies.
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The Bridg platform competes with other companies that operate enterprise customer data platforms.
−Removed: Additionally, Bridg competes or may in the future compete against companies that provide advertising and data solutions such as profile unification or marketing campaign management and analytics, retail media networks, as well as data provisioners, brokers and cooperatives that provide advertising analytics to clients.
Intellectual Property
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and other jurisdictions.
−Removed: As of December 31, 2024, we had seventeen issued patents relating to our software.
+Added: As of December 31, 2025, we had eighteen issued patents relating to our software.
We cannot assure you that our patents will give us the protection that we seek or that any such patents will not be challenged, invalidated, or circumvented.
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We cannot assure you that such third parties will maintain such software or continue to make it available.
−Removed: We are the registered holder of a variety of domestic and international domain names that include cardlytics.com, dosh.com, bridg.com, and similar variations on those names.
+Added: We are the registered holder of a variety of domestic and international domain names that include cardlytics.com, bridg.com, and similar variations on those names.
In order to protect our unpatented proprietary technologies and processes, we rely on trade secret laws and confidentiality agreements with our employees, consultants, financial institution partners, marketers, vendors and others.
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Our company's mission is to make commerce smarter and rewarding for everyone, and we know this starts with investing in each of our employees.
−Removed: Headquartered in Atlanta, GA with additional offices in New York, NY;
−Removed: Menlo Park, CA;
−Removed: Los Angeles, CA;
−Removed: Champaign, IL and London, U.K., our employees are an essential part of all of our successes.
+Added: Headquartered in Atlanta, GA with additional offices in Los Angeles, CA;
+Added: Champaign, IL;
+Added: London, U.K.;
+Added: and Taipei, Taiwan, our employees are an essential part of all of our successes, with many working remotely, providing the flexibility to contribute from wherever they are most productive.
As of December 31, 2025, our global workforce is made up of approximately 46% women and 47% people of color.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.