Stock Alert: Cardlytics Continues To Decline

(RTTNews) - Shares of purchase intelligence platform Cardlytics, Inc. (CDLX) are sinking more than 36% Wednesday after reporting fourth-quarter results Tuesday. Cardlytics' first-quarter revenue outlook remains lower than expected.

For the first quarter, revenue is expected to be in the range of $43.5 million - $46.5 million. Analysts polled by Thomson Reuters see revenue to be $52.77 million.

The company also announced some changes in its leadership team including its Co-Founder and COO Lynne Laube becoming new CEO, effective May 15. Cardlytics Co-Founder and CEO Scott Grimes will take over as Executive Chairman of the Board and John Balen, Chairman of the Cardlytics Board, will be the Lead Independent Director.

Net income for the fourth quarter was $3.4 million, or $0.12 per share, on 26.1 million shares outstanding, compared to with net loss attributable to $11.6 million, or $0.53 per diluted share based on 21.8 million shares outstanding in the same quarter a year ago. Excluding items earnings of $0.18 per share beat average estimate of 6 analysts at $0.04.

Revenue for the quarter increased 44.9% year-over-year to $69.3 million.

CDLX is currently trading at $55.14 and has traded in the range of $14.14- $107.50.