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SEGMENTS
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
SEGMENTS SEGMENTS
As of June 30, 2022, we have three operating segments: the Cardlytics platform in the U.S., the Cardlytics platform in the U.K. and the Bridg platform, as determined by the information that our Chief Executive Officer, who we consider our chief operating decision-maker ("CODM"), uses to make strategic goals and operating decisions. Our Cardlytics platform operating segments in the U.S. and U.K. represent our proprietary advertising channels and are aggregated into one reportable segment given their similar economic characteristics, nature of service, types of customers and method of distribution. Subsequent to the acquisition of Bridg, our CODM began reviewing Bridg's revenue and operating expenses. Therefore, we consider the Bridg platform to be a separate operating segment. Our CODM allocates resources to, and evaluates the performance of, our operating segments based on revenue and adjusted contribution. Our CODM does not review assets by operating segment for the purposes of evaluating performance or allocating resources.
The following tables provide information regarding the Cardlytics platform and the Bridg platform reportable segments (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202220212022
Cardlytics platform
Adjusted contribution$27,603 $29,867 $51,944 $58,822 
Plus: Adjusted Partner Share and other third-party costs(1)
29,160 39,403 58,049 74,431 
Revenue$56,763 $69,270 $109,993 $133,253 
Bridg platform
Adjusted contribution$2,027 $5,258 $2,027 $9,078 
Plus: Adjusted Partner Share and other third-party costs(1)
63 877 63 1,002 
Revenue$2,090 $6,135 $2,090 $10,080 
Total
Adjusted contribution$29,630 $35,125 $53,971 $67,900 
Plus: Adjusted Partner Share and other third-party costs(1)
29,223 40,280 58,112 75,433 
Revenue$58,853 $75,405 $112,083 $143,333 
(1)Adjusted Partner Share and other third-party costs presented above represents GAAP Partner Share and other third-party data costs less deferred implementation costs, which is detailed below in our reconciliation of GAAP (loss) income before income taxes to adjusted contribution.
Adjusted Contribution
Adjusted contribution measures the degree by which revenue generated from our marketers exceeds the cost to obtain the purchase data and the digital advertising space from our partners. Adjusted contribution demonstrates how incremental marketing spend on our platforms generates incremental amounts to support our sales and marketing, research and development, general and administration and other investments. Adjusted contribution is calculated by taking our total revenue less our Partner Share and other third-party costs exclusive of deferred implementation costs, which is a non-cash cost. Adjusted contribution does not take into account all costs associated with generating revenue from advertising campaigns, including sales and marketing expenses, research and development expenses, general and administrative expenses and other expenses, which we do not take into consideration when making decisions on how to manage our advertising campaigns.
The following table presents a reconciliation of loss before income taxes presented in accordance with GAAP to adjusted contribution (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202220212022
Adjusted contribution$29,630 $35,125 $53,971 $67,900 
Minus:
Deferred implementation costs(1)
730 — 1,612 — 
Delivery costs5,748 8,162 9,686 14,695 
Sales and marketing expense17,063 21,983 30,265 39,631 
Research and development expense8,934 13,581 15,152 25,872 
General and administration expense16,888 20,984 29,063 41,409 
Acquisition and integration costs (benefit)14,182 2,197 21,212 (2,401)
Change in fair value of contingent consideration1,480 (2,968)1,480 (68,018)
Goodwill impairment— 83,149 — 83,149 
Depreciation and amortization expense8,833 10,356 11,898 20,227 
Total other expense3,078 5,417 5,804 8,034 
Loss before income taxes$(47,306)$(127,736)$(72,201)$(94,698)
(1)Deferred implementation costs is excluded from adjusted Partner Share and other third-party costs, which is shown above in our reconciliation of GAAP revenue to adjusted contribution.
The following tables provide geographical information (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202220212022
Revenue:
United States$54,145 $69,178 $103,262 $130,831 
United Kingdom4,708 6,227 8,821 12,502 
Total$58,853 $75,405 $112,083 $143,333 
December 31, 2021June 30, 2022
Property and equipment, net:
United States$7,750 $6,116 
United Kingdom3,423 2,379 
India100 124 
Total$11,273 $8,619 
Capital expenditures within the United Kingdom and India totaled $0.6 million and less than $0.1 million during the six months ended June 30, 2021 and 2022, respectively.
Concentrations of Risk
Cash and Cash Equivalents
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. A significant portion of our cash and cash equivalents are held in fully FDIC-insured demand deposit accounts that distribute funds, and credit risk, over a vast number of financial institutions. Our remaining cash and cash equivalents are held with eight financial institutions, which we believe are of high credit quality.
Marketers
Our revenue and accounts receivable are diversified among a large number of marketers segregated by both geography and industry. During each of the six months ended June 30, 2021 and 2022, our top five marketers accounted for 34% and 21% of our revenue, respectively, with one marketer accounting for over 10% during six months ended June 30, 2021 . As of June 30, 2021 and 2022, our top five marketers accounted for 30% and 19% of our accounts receivable, respectively, with one marketer representing over 10% as of June 30, 2021.
FI Partners
Our business is substantially dependent on a limited number of FI partners. We require participation from our FI partners in the Cardlytics platform and access to their purchase data in order to offer our solutions to marketers and their agencies. We must have FI partners with a sufficient number of customers and levels of customer engagement to ensure that we have robust purchase data and marketing space to support a broad array of incentive programs for marketers. Our agreements with a substantial majority of our FI partners have terms of three to seven years but are generally terminable by the FI partner on 90 days or less prior notice. The agreements generally have autorenewal provisions that allow for the agreements to extend past their originally contemplated end date, unless terminated earlier in accordance with the terms of the agreement. If an FI partner terminates its agreement with us, we would lose that FI as a source of purchase data and online banking customers.
During the six months ended June 30, 2021, our top two FI partners combined to account for over 75% of the total Partner Share we paid to all partners, with each representing over 30%. During the six months ended June 30, 2022, our top three FI partners combined to account for over 75% of the total Partner Share we paid to all partners, with the top two FI partners each representing over 20% and third largest FI partner representing over 10% of Partner Share. No other partner accounted for over 10% of Partner Share during these periods.