Cardlytics Inc. has just made an impressive statement, raising their first-quarter revenue guidance.
The global digital advertising platform gave credence to their product-led operating structure for achieving better-than-expected growth, in addition to strengthening their U.S. business. As a result, revenue has been increased from the projected $54 million to $63 million to $63.5 million to $66.5 million, while their billings remain approximately the same in the range of $93 million to $97 million.
The company’s CEO, Karim Temsamani, highlighted the importance of cost management and the realization of $3.5 million of one-time savings during this quarter. Furthermore, he assured that the success companies are experiencing despite a difficult macroeconomic environment is attributable to their shift to the new product-led operating structure.
No wonder their stock jumped up 15%, trading at $3.98 upon pre-market opening.
Cardlytics is a partnership that bridges the gap between financial institutions and marketers. Companies are able to leverage Cardlytics’ banking reward program insights for targeting potential customers more accurately.
The current CEO, Karim Temsamani, is no stranger to the world of digital advertising. Mr. Temsamani has 18 years of experience under his belt, spent in Google’s distinguished executive team, Android, and YouTube. He has also headed the startup Life360, a company that provides family engagement services, as its CEO and President.
In conclusion, Cardlytics’s better-than-expected growth suggests a promising future for the company. With their shift to product-led operating structure and the CEO’s past experience in leading globally renowned companies, they will most likely continue to improve their bottom line in the coming years.