Cardlytics, Inc.

Good day, and thank you for standing by. Welcome to the Cardlytics second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Nick Clinton, Chief Legal and Privacy Officer. Please go ahead.

Good evening, and welcome to the Card Winning Second Quarter 2024 Financial Results Call. Before we begin, let me remind everyone that today's discussion will contain forward-looking statements based on our current assumptions, expectations, and beliefs, including expectations regarding our future financial performance and results including for the third quarter of 2024, our CEO transition plans, our capital structure, and various operational and product initiatives and improvements. For a discussion of the specific risk factors that could cause our actual results to differ materially from today's discussion, please refer to the risk factors section of the company's 10-Q for the quarter ended June 30, 2024, which has been filed with the SEC. Also during this call, we will discuss non-GAAP measures of our performance. GAAP financial reconciliations and supplemental financial information are provided in the press release issued today in the 8K that has been filed with SEC, which you can find in the investor relations section of the Cardlytics website. Today's call is available via webcast, and a replay will also be available on our website. Joining us on the call today, we have Cardlytics Board Chair Jack Klink, who will provide some brief comments about this afternoon's executive transition announcement. as well as current COO and incoming CEO Amit Gupta and CFO Alexis DiCieno. Following their prepared remarks, we'll open the call to your questions. With that, I'll hand the call over to Jack.

Thanks, Nick. As I'm sure you've all seen from our announcement earlier today, the board has appointed Cardlytic's current COO, Amit Gupta, to the role of CEO effective August 16, 2024. Amit will also be joining our board of directors at the same time. Karim Tamsamani will be stepping down as Cardlytics CEO and board member to pursue another professional opportunity. On behalf of the board, I would like to thank Karim for his contributions to Cardlytics during an important period of transformation. We are grateful Karim will help ensure a smooth transition, and we wish him the best. We are also excited to welcome Amit into his new role with Cardlytics, following a strong tenure as COO. He brings with him deep strategic product and operational expertise, as well as industry experience, and he has played a key role in developing our strategy, scaling our platform, and involving our business. I am confident he will lead this business well as we continue to execute on our transformation. We have the right team in place to execute our strategy, and we are in the early innings of our transformation. Some of the important milestones achieved by our team under Karim and Amit's leadership include right-sizing our expense structure and improving our capital structure, which helped us deliver positive adjusted EBITDA in 2023 and improved our long-term financial stability. bringing new banking partners and advertisers to the platform, including Monzo in the UK and a large financial institution in the US, and launching Ripple, our retail media network on our Bridge platform, opening the potential for us to tap into new categories of marketing budgets, particularly across major CPG brands. I hope you'll all join me in extending a warm welcome to Amit. With that, let me turn the call over to you, Amit.