Press Releases
Cardlytics Appoints Karim Temsamani Chief Executive Officer
Lynne Laube to Retire, Serve as Strategic Advisor During Transition
ATLANTA, July 20, 2022 -- Cardlytics, (NASDAQ: CDLX), an advertising platform in banks’ digital channels, today announced that its Board of Directors has named Karim Temsamani as Chief Executive Officer of the company, effective September 1, 2022. Temsamani will also be joining the Board of Directors. He will succeed co-founder and current CEO, Lynne Laube, who has announced her intention to retire. Laube will continue to serve on the Board until its 2023 annual meeting of stockholders and will remain a strategic advisor until May 2024 to ensure a smooth transition.
Temsamani joins Cardlytics from Stripe where he most recently served as Head of Global Partnerships. Prior to that role, he served as Head of Banking and Financial Products, leading the strategic vision and execution across product and engineering, including Stripe Treasury, Issuing, Capital and Connections. Preceding Stripe, Temsamani spent nearly 12 years at Google, where he oversaw all of Google’s sales and operations across the Asia-Pacific region, determining the strategy for Google products including AdWords, AdMob, Google Maps, Google Apps for Business, DoubleClick Ad Exchange, YouTube, and AdSense. While at Google, he also established its mobile advertising business as its Global Head of Mobile, overseeing the growth of the business worldwide.
“I am honored to take the helm of this amazing company that Lynne, Scott, and the team have built – an industry leader that creates undeniable impact for its brands and partners while delivering real value to people,” said Temsamani. “There is so much potential for further growth following the company’s recent acquisitions and solid progression against its strategic initiatives, and I look forward to leveraging the strong foundation that has been developed.”
“After nearly 15 years of leading the company, I am truly thrilled to hand the reigns over to Karim as I know he is the right leader for our next generation of growth,” said Laube. “Karim brings a fresh perspective, coupled with deep expertise that is perfectly suited to expand our partnerships and enhance our platform. I can’t express the gratitude I have for the people who have worked so hard to make the Cardlytics vision into a reality. I remain as energized as ever and look forward to helping Karim and the entire team with this seamless transition.”
“After an extensive and lengthy search, I am pleased to announce that Karim is joining Cardlytics as CEO in September,” said Scott Grimes, Executive Chairman and Co-Founder of Cardlytics. “Karim brings a wealth of experience and a strategic vision to lead Cardlytics into its next chapter. He is a dynamic leader with a tremendous background in advertising alongside a keen understanding of the FinTech world. On behalf of the Board, I want to thank Lynne for her strong leadership and partnership. Her continued commitment to building and growing the company in the months ahead as she looks to retire will serve as a capstone to her highly successful and ground-breaking career.”
Second Quarter 2022
On July 20, 2022, Cardlytics, Inc. (the “Company”) updated its billings, revenue, and adjusted contribution guidance for the quarter ended June 30, 2022 to be in the following ranges (in millions):
Q2 2022 GuidanceBillings(1)$106.5 - $108.5Revenue$74.5 - $76.5Adjusted contribution(2)$34.0 - $36.0
(1) A reconciliation of billings to GAAP revenue on a forward-looking basis is presented below under the heading "Reconciliation of Forecasted GAAP Revenue to Billings."
(2) A reconciliation of adjusted contribution to GAAP gross profit on a forward-looking basis is presented below under the heading "Reconciliation of Forecasted GAAP gross profit to adjusted contribution."
Reconciliation of Forecasted GAAP Revenue to Billings
Q2 2022 Guidance
(amounts in millions)Revenue$74.5 - $76.5Plus: Consumer Incentives31.0 - 33.0Billings$106.5 - $108.5
Reconciliation of Forecasted GAAP Gross Profit to Adjusted Contribution
Q2 2022 Guidance
(amounts in millions)Revenue$74.5 - $76.5Minus: Partner Share and other third-party costs39.5 - 41.5Delivery costs7.0 - 9.0Gross profit$25.5 - $27.5Plus: Delivery costs7.0 - 9.0Adjusted contribution$34.0 - $36.0
About Karim Temsamani
Karim Temsamani joined Stripe in April 2019 to lead strategic vision and execution across product and engineering for Financial Products (Stripe Capital, Stripe Treasury and Stripe Issuing). In November 2021, Karim transitioned to running Global Partnerships for Stripe across banks, networks, and technology companies.
Prior to Stripe, he spent 12 years at Google where he oversaw, for the last six years, all of Google’s sales and operations across the Asia-Pacific region, determining the strategy for 16 offices and the regional business strategy for Google products including AdWords, AdMob, Google Maps, Google Apps for Business, DoubleClick Ad Exchange, YouTube and AdSense.
Prior to this, he established Google’s mobile advertising business as its Global Head of Mobile. He oversaw the growth of Google’s mobile advertising business worldwide, leading the teams charged with providing advertising services and solutions to thousands of advertisers, developers, and publishers.
From 2007 to 2010, Karim was Managing Director, Google Australia and New Zealand, leading its business and strategic partnerships in those countries. Karim joined Google from Fairfax Media, where he was Commercial Director for Newspapers (responsible for agency and group sales, trade marketing and business development) and Group Director, Fairfax General Magazines.
He started his career in the media and publishing industries and graduated in International Affairs at the European Business School Paris. With a family background from Morocco, he was born and raised in France.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, Detroit and Visakhapatnam. Learn more at www.cardlytics.com.
Research & Insights
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The Secret Sauce to Retaining Customers
Introduction
In our previous report, Redefining Customer Loyalty, Cardlytics defined loyalty as a consumer’s preference for a merchant over its competitors. We analyzed $160B in spending across six industries to measure customer loyalty and spending patterns with both loyal and non-loyal customers.
But customer behavior isn’t fixed—customers shift between loyalty segments over time. Understanding these shifts helps identify churn and informs strategies to nurture relationships and move customers to higher loyalty segments. In our Loyalty Movement Report, we dive into customer behavior in the QSR category to better understand engagement over time by analyzing more than $44B in consumer spend behavior.*
QSR Category Loyal Customers
On average, 81% of the category’s customers are not actually loyal to any brand. But the loyal segment has a much higher share of wallet (67%) than a not loyal segment (15%).
Top Customers (top 10% of most frequent transactors) are show reverse allegiance vs overall customers. And the loyal customer segment shows more than 3x higher share of wallet.
Findings
We looked into purchase data at all QSRs in the US over the last 8 quarters (Q1-23 through Q4-24) on a quarter by quarter basis to see whether even the “most loyal” customers showed changes in their purchase behavior.
QSR Loyalty Movement
Overall, quarter over quarter, 58% of customers tend to remain in their existing segments and 21% increase or decrease their loyalty to a merchant, showing that QSR customers tend to be more promiscuous than other industries. Also, there is much more extensive customer loyalty movement within the “not loyal” segments.
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Segment Movement
While all segments show purchase behavior movement, the Tied segment (part of Not Loyal customers) shows the most movement - both up (26%) and down (45%) - into other segments.
QSR Leaky Bucket
QSR brands are acquiring new customers at a 3x faster clip than they are losing customers. Yet these customers are less loyal to any specific brand so nurturing the relationship is key.
Diving deeper into the individual segments tells us:
- Loyal customers and those that Prefer the competition are the most rigid (with 63% and 72% staying the same, respectively). Those customers that are Tied have the greatest propensity for a behavior change (with only 13% staying the same).
- Loyal customers are far less likely to churn. Customers that are Tied are 50% more likely to churn and customers that Prefer the competition are 100% more likely to churn!
Definitions of Customer Segments
Loyal Customers
Loyal: Only shop with a specific brand, or have the highest share of wallet with a given brand and relative rank is lower than all other brands in consideration set
Not Loyal Customers
Tied: Similar relative ranks to 2 or more brands regardless of share of wallet ranking
Prefer: Lower share of wallet and higher rank than other brands in their consideration set
Lapsed: Shopped historically but do not shop currently, as defined by the analysis time period
New: Shop currently but have not shopped historically, as defined by the analysis time period
Takeaways
Marketers know it’s more costly to acquire or re-acquire customers than to keep existing ones engaged. When QSRs neglect current customers, they risk losing them and undoing past investment - not loyal customers are 50%-100% more likely to lapse/churn than loyal customers. But also QSRs are doing a relatively good job of bringing in new customers so staying top of mind is even more important. Marketers must continuously nurture relationships, understand customer needs, and offer seamless experiences. To foster loyalty with your customers, consider these recommendations:
- Use an “always on” strategy to keep customers engaged, regardless of purchase frequency.
- Regularly update/refine customer segments and adjust reward offers to keep them engaged.
- Use targeted campaigns to boost loyalty and revenue.
Cardlytics can deliver a comprehensive Customer Loyalty Analysis with insights into customer behavior and movement across defined loyalty segments. Contact us for more details.
* *For this report, we've selected the entire QSR category in our data, collectively representing over $44B in annual card spend. This sample differs from the previous Customer Loyalty Analysis report.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a commerce media platform, powered by our publishers’ first-party purchase data, that makes commerce smarter and more rewarding for everyone. We offer a range of solutions to help advertisers and publishers, including financial institutions, grow and strengthen customer loyalty. With visibility into approximately half of all card-based transactions in the U.S. and a quarter in the U.K., Cardlytics enables advertisers to engage consumers at scale and drive incremental sales through our industry-leading financial media network. Publisher partners can enhance their platforms with relevant and personalized offers that improve the shopping experience for their customers. Cardlytics also offers identity resolution capabilities through Bridg, which helps convert anonymous shoppers into known and reachable customers. Headquartered in Atlanta, Cardlytics has offices in Menlo Park, Los Angeles, Champaign, New York and London. Learn more at www.cardlytics.com or follow us on LinkedIn.
Introduction
In our previous report, Redefining Customer Loyalty, Cardlytics defined loyalty as a consumer’s preference for a merchant over its competitors. We analysed billions in spending across six industries to measure customer loyalty and spending patterns with both loyal and non-loyal customers.
Customer behaviour isn’t fixed—shoppers move between loyalty segments over time. Our UK Grocery Loyalty Movement Report analyses national grocery spend to track these shifts, helping retailers identify churn, improve retention, and strengthen customer relationships.
Grocery Category Loyal Customers
On average, 75% of a merchant’s customers are not actually loyal. But the loyal segment (25%) has a much higher share of wallet (67%) than a not loyal segment (13%).
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Top Customers (top 20% of most frequent transactors) still show that 25% are not loyal customers. Yet the loyal customer segment shows a 2x higher share of wallet.
Findings
We looked into purchase data at all groceries in the UK over the last 8 quarters (Q1-23 through Q4-24) on a quarter by quarter basis to see whether even the “most loyal” customers showed changes in their purchase behaviour.
Grocery Loyalty Movement
Overall, quarter over quarter, 50% of customers tend to remain in their existing segments while 50% increase or decrease their loyalty to a merchant. Yet there is much more extensive customer loyalty movement within the “not loyal” segments.
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Segment Movement
While all segments show purchase behaviour movement, the Tied segment (part of Not Loyal customers) shows the most movement - both up (30%) and down (47%) - into other segments.
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Grocery Leaky Bucket
Grocery brands are acquiring new customers yet even more existing customers are moving into the lapsed tier. This cycle can be reversed by continuing to nurture existing customers.
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Diving deeper into the individual segments tells us:
- Loyal customers and those that Prefer the competition are the most rigid (with 67% and 65% staying the same, respectively). Those customers that are Tied have the greatest propensity for a behaviour change, with only 9% staying the same, showing extreme volatility.
- Loyal customers are far less likely to churn. Tied Customers are 56% more likely to churn (moving to Prefer or Lapsed) and customers that Prefer the competition are 200% more likely to churn!
Definitions of Customer Segments
Loyal Customers
Loyal: Only shop with a specific brand, or have the highest share of wallet with a given brand and relative rank is lower than all other brands in consideration set
Not Loyal Customers
Tied: Similar relative ranks to 2 or more brands regardless of share of wallet ranking
Prefer: Lower share of wallet and higher rank than other brands in their consideration set
Lapsed: Shopped historically but do not shop currently, as defined by the analysis time period
New: Shop currently but have not shopped historically, as defined by the analysis time period
Takeaways - Building Grocery Loyalty in the UK
Loyalty in the UK grocery sector is highly unstable. Only 25% of shoppers are truly loyal, yet they contribute 67% of their share of wallet (SOW) to a single merchant. Even within the top customers, 25% are still not totally loyal. Loyalty is fragile and demands ongoing effort as competition is always close by. To stay top of mind, marketers must continuously nurture relationships, understand customer needs, and offer seamless experiences. To foster loyalty with your customers, consider these recommendations:
- Implement an always-on engagement strategy to keep customers connected, regardless of purchase frequency.
- Regularly update/refine customer segments and adjust reward offers to keep them engaged.
- Use targeted campaigns to boost loyalty and revenue.
Cardlytics provides comprehensive Customer Loyalty Analysis, delivering insights into loyalty movement, churn risk, and retention strategies to help grocery brands drive long-term customer value. Contact us to learn more
* For this report, we've selected the entire Grocery category in our data, collectively representing over $200bn in annual card spend. This sample differs from the previous Customer Loyalty Analysis report.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into approximately 1 of every 2 card-based transactions in the U.S., allowing us to see where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Learn more at www.cardlytics.com.
Introduction
In our previous report, Redefining Customer Loyalty, Cardlytics defined loyalty as a consumer’s preference for a merchant over competitors. We analyzed $160B in spending across six industries to measure customer loyalty and spending patterns with both loyal and non-loyal customers.
But customer behavior isn’t fixed—customers shift between loyalty segments over time. Understanding these shifts helps identify churn and informs strategies to nurture relationships and move customers to higher loyalty segments. In our newest Loyalty Movement Report, we dive into customer behavior in the Grocery category to better understand engagement over time by analyzing the entire grocery category with more than $200B in consumer spend behavior.*
Grocery Category Loyal Customers
On average, 58% of a merchant’s customers are not actually loyal. But the loyal segment has a much higher share of wallet (84%) than a not loyal segment (18%).
.png)
Top Customers (top 20% of most frequent transactors) still show that more than ⅓ are not loyal customers. Yet the loyal customer segment shows an almost 3x higher share of wallet.
Findings
We looked into purchase data at all groceries in the US over the last 8 quarters (Q1-23 through Q4-24) on a quarter by quarter basis to see whether even the “most loyal” customers showed changes in their purchase behavior.
Grocery Loyalty Movement
Overall, quarter over quarter, 60% of customers tend to remain in their existing segments while 40% increase or decrease their loyalty to a merchant. Yet there is much more extensive customer loyalty movement within the “not loyal” segments.
%20(1).png)
Segment Movement
While all segments show purchase behavior movement, the Tied segment (part of Not Loyal customers) shows the most movement - both up (33%) and down (37%) - into other segments.
.png)
Grocery Leaky Bucket
Grocery brands are acquiring new customers yet even more existing customers are moving into the lapsed tier. This cycle can be reversed by continuing to nurture existing customers.
Diving deeper into the individual segments tells us:
- Loyal customers and those that Prefer the competition are the most rigid (with 81% and 71% staying the same, respectively). Those customers that are Tied have the greatest propensity for a behavior change (with only 20% staying the same).
- Loyal customers are far less likely to churn. Customers that are Tied are 42% more likely to churn and customers that Prefer the competition are 185% more likely to churn!
Definitions of Customer Segments
Loyal Customers
Loyal: Only shop with a specific brand, or have the highest share of wallet with a given brand and relative rank is lower than all other brands in consideration set
Not Loyal Customers
Tied: Similar relative ranks to 2 or more brands regardless of share of wallet ranking
Prefer: Lower share of wallet and higher rank than other brands in their consideration set
Lapsed: Shopped historically but do not shop currently, as defined by the analysis time period
New: Shop currently but have not shopped historically, as defined by the analysis time period
Takeaways
Marketers know it’s more costly to acquire or re-acquire customers than to keep existing ones engaged. When brands neglect current customers, they risk losing them and undoing past investment - not loyal customers are 42%-185% more likely to lapse/churn than loyal customers. Loyalty is fragile and demands ongoing effort as competition is always close by. To stay top of mind, marketers must continuously nurture relationships, understand customer needs, and offer seamless experiences. To foster loyalty with your customers, consider these recommendations:
- Use an “always on” strategy to keep customers engaged, regardless of purchase frequency.
- Regularly update/refine customer segments and adjust reward offers to keep them engaged.
- Use targeted campaigns to boost loyalty and revenue.
Cardlytics can deliver a comprehensive Customer Loyalty Analysis with insights into customer behavior and movement across defined loyalty segments. Contact us for more details.
* For this report, we've selected the entire Grocery category in our data, collectively representing over $200bn in annual card spend. This sample differs from the previous Customer Loyalty Analysis report.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into approximately 1 of every 2 card-based transactions in the U.S., allowing us to see where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Learn more at www.cardlytics.com.