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Side-by-side financial comparison of Cardlytics, Inc. (CDLX) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $50.9M, roughly 1.7× Cardlytics, Inc.). On growth, Smart Sand, Inc. posted the faster year-over-year revenue change (-5.8% vs -25.5%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $13.0M). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% CAGR vs -9.6%).
Cardlytics is a leading purchase intelligence and advertising platform that partners with major banks to analyze anonymized consumer transaction data. It delivers targeted, performance-driven ad campaigns for consumer brands, retailers and service providers, helping advertisers reach audiences based on real purchase behavior, with core operations across North America and the United Kingdom.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
CDLX vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.9M | $86.0M |
| Net Profit | — | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | -12.0% | -3.1% |
| Net Margin | — | 1.4% |
| Revenue YoY | -25.5% | -5.8% |
| Net Profit YoY | — | -68.5% |
| EPS (diluted) | $-0.15 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $50.9M | $86.0M | ||
| Q3 25 | $47.0M | $92.8M | ||
| Q2 25 | $58.0M | $85.8M | ||
| Q1 25 | $56.4M | $65.6M | ||
| Q4 24 | $68.3M | $91.4M | ||
| Q3 24 | $61.1M | $63.2M | ||
| Q2 24 | $64.0M | $73.8M | ||
| Q1 24 | $62.2M | $83.1M |
| Q4 25 | — | $1.2M | ||
| Q3 25 | $-72.7M | $3.0M | ||
| Q2 25 | $-9.3M | $21.4M | ||
| Q1 25 | $-13.3M | $-24.2M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $-145.2M | $-98.0K | ||
| Q2 24 | $-4.3M | $-430.0K | ||
| Q1 24 | $-24.3M | $-216.0K |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% | ||
| Q1 24 | — | 14.2% |
| Q4 25 | -12.0% | -3.1% | ||
| Q3 25 | -146.6% | 5.8% | ||
| Q2 25 | -22.0% | -0.1% | ||
| Q1 25 | -24.9% | -10.8% | ||
| Q4 24 | -12.2% | 3.9% | ||
| Q3 24 | -243.1% | -7.8% | ||
| Q2 24 | -24.7% | 4.8% | ||
| Q1 24 | -36.7% | 0.9% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | -154.7% | 3.2% | ||
| Q2 25 | -16.0% | 24.9% | ||
| Q1 25 | -23.5% | -37.0% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | -237.6% | -0.2% | ||
| Q2 24 | -6.7% | -0.6% | ||
| Q1 24 | -39.0% | -0.3% |
| Q4 25 | $-0.15 | $0.03 | ||
| Q3 25 | $-1.36 | $0.08 | ||
| Q2 25 | $-0.18 | $0.54 | ||
| Q1 25 | $-0.26 | $-0.62 | ||
| Q4 24 | $-0.36 | $0.10 | ||
| Q3 24 | $-2.90 | $0.00 | ||
| Q2 24 | $-0.09 | $-0.01 | ||
| Q1 24 | $-0.56 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $48.7M | $22.6M |
| Total DebtLower is stronger | $212.6M | $15.0M |
| Stockholders' EquityBook value | $-6.5M | $239.7M |
| Total Assets | $285.6M | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.7M | $22.6M | ||
| Q3 25 | $44.0M | $5.1M | ||
| Q2 25 | $46.7M | $4.3M | ||
| Q1 25 | $52.0M | $5.1M | ||
| Q4 24 | $65.6M | $1.6M | ||
| Q3 24 | $67.0M | $7.2M | ||
| Q2 24 | $71.2M | $6.3M | ||
| Q1 24 | $97.8M | $4.6M |
| Q4 25 | $212.6M | $15.0M | ||
| Q3 25 | $214.6M | $14.3M | ||
| Q2 25 | $214.3M | $23.5M | ||
| Q1 25 | $213.9M | $13.7M | ||
| Q4 24 | $213.6M | $14.7M | ||
| Q3 24 | $213.2M | $15.7M | ||
| Q2 24 | $212.9M | $17.1M | ||
| Q1 24 | $257.9M | $25.5M |
| Q4 25 | $-6.5M | $239.7M | ||
| Q3 25 | $-4.7M | $239.9M | ||
| Q2 25 | $58.7M | $240.5M | ||
| Q1 25 | $64.1M | $219.9M | ||
| Q4 24 | $70.0M | $243.8M | ||
| Q3 24 | $69.7M | $243.6M | ||
| Q2 24 | $210.0M | $242.9M | ||
| Q1 24 | $199.1M | $242.5M |
| Q4 25 | $285.6M | $340.0M | ||
| Q3 25 | $292.8M | $343.1M | ||
| Q2 25 | $361.1M | $345.8M | ||
| Q1 25 | $369.1M | $326.9M | ||
| Q4 24 | $392.7M | $341.5M | ||
| Q3 24 | $399.4M | $335.8M | ||
| Q2 24 | $534.4M | $341.8M | ||
| Q1 24 | $569.0M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | 3.65× | 0.10× | ||
| Q1 25 | 3.34× | 0.06× | ||
| Q4 24 | 3.05× | 0.06× | ||
| Q3 24 | 3.06× | 0.06× | ||
| Q2 24 | 1.01× | 0.07× | ||
| Q1 24 | 1.29× | 0.11× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.0M | $22.4M |
| Free Cash FlowOCF − Capex | $13.0M | $20.4M |
| FCF MarginFCF / Revenue | 25.5% | 23.7% |
| Capex IntensityCapex / Revenue | 0.0% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $8.8M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.0M | $22.4M | ||
| Q3 25 | $1.8M | $18.2M | ||
| Q2 25 | $1.2M | $-5.1M | ||
| Q1 25 | $-6.7M | $8.7M | ||
| Q4 24 | $3.0M | $1.0M | ||
| Q3 24 | $1.4M | $5.8M | ||
| Q2 24 | $4.4M | $14.9M | ||
| Q1 24 | $-17.6M | $-3.9M |
| Q4 25 | $13.0M | $20.4M | ||
| Q3 25 | $1.7M | $14.8M | ||
| Q2 25 | $903.0K | $-7.8M | ||
| Q1 25 | $-6.8M | $5.2M | ||
| Q4 24 | $2.9M | $-840.0K | ||
| Q3 24 | $878.0K | $3.7M | ||
| Q2 24 | $4.1M | $13.5M | ||
| Q1 24 | $-18.3M | $-5.5M |
| Q4 25 | 25.5% | 23.7% | ||
| Q3 25 | 3.7% | 15.9% | ||
| Q2 25 | 1.6% | -9.1% | ||
| Q1 25 | -12.1% | 7.9% | ||
| Q4 24 | 4.2% | -0.9% | ||
| Q3 24 | 1.4% | 5.8% | ||
| Q2 24 | 6.5% | 18.3% | ||
| Q1 24 | -29.4% | -6.6% |
| Q4 25 | 0.0% | 2.3% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.6% | 3.1% | ||
| Q1 25 | 0.2% | 5.4% | ||
| Q4 24 | 0.2% | 2.1% | ||
| Q3 24 | 0.8% | 3.4% | ||
| Q2 24 | 0.4% | 1.8% | ||
| Q1 24 | 1.0% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDLX
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
