Shares of Cardlytics Inc. (CDLX) skyrocketed more than 30% during Tuesday’s session, following news that the company had significantly revised its first quarter outlook. Cardlytics, a digital advertising company, now expects $63.5 to $66.5 million in revenue for the first quarter–a elevated prediction compared to its earlier forecast of $54.0- $63.0 million. The company is also expecting $93.0 to $97.0 million in bookings, which take into account consumer incentives, up from its prior outlook of $84.0 to $93.0 million.
Karim Temsamani, Cardlytics’ Chief Executive, was optimistic about the news. He cited the company’s shift to a product-led operating structure as a main factor in its improved outlook, and also recognized Cardlytics’ rigorous approach to costs. Despite the current challenging macroeconomic environment, Temsamani believes Cardlytics still has the potential to exceed expectations.
Cardlytics, based in Atlanta, has been in the digital marketing business since 2008 and works with banks, retailers, and other partners to offer personalized ads and coupons within mobile and online banking apps. Their platform is also integrated in apps like Google Pay, Apple Pay, PayPal and more. Within the past year, Cardlytics has seen a surge in demand, thanks to its user-friendly, tailored, and real-time 1-to-1 marketing programs.
Karim Temsamani joined Cardlytics in November 2019 as CEO. He brings with him priceless industry experience, including a decade spent as CEO at Pointy, a retail technology startup. Temsamani is an experienced leader and serial entrepreneur that also spent 15 years at Google, and served as a member on the board of directors for Checkout.com and Just Eat since 2019. As CEO of Cardlytics, Temsamani has a clear vision for the company and is fully committed to furthering its success.
Cardlytics’ stock surge on Tuesday validates their product-led approach and proves that with the right strategies and leadership, even the most uncertain times can give way to unsurpassed success. With Chief Executive Karim Temsamani at the helm, it appears that the company is on track to outshine its already impressive performance and become a leader in real-time digital marketing.