Cardlytics, Inc. (NASDAQ:CDLX) Q3 2019 Earnings Conference Call - Final Transcript
Nov 12, 2019 • 05:00 pm ET
[Operator Instructions] And our first question comes from the line of Youssef Squali with SunTrust.
Hi, guys. Congrats on a strong quarter. Two quick questions for me. On Wells, can you remind us again how many debit and credit cardholders they have, how many do you think can you penetrate over the next, say, 12 months. And maybe, Lynne, you can speak to the more automated buying model that you spoke to, I think this is a work-in-progress. Maybe you can just tell us where you where you are in that evolution. Thank you.
Lynne Marie Laube
Good afternoon, Youssef. Hope you're doing well. In terms of the specific account numbers with Wells or for any of the banks, we don't speak to their accounts, they do publicly them. Wells is certainly one of the largest debit card issuers in the country, and they also have a significant credit card portfolio in terms of how much debt we penetrate over time similar to other national bank launches. We expect to be live with the overwhelming majority of all their customers.
And you said in terms of automating the platform, I think we have stated some goals around Phase 1 of the platform automation is to find a partner or two who can start to test what we've automated with us that will likely be either a performance agency or maybe some other type of large advertiser partner. And our goal is to try and get that done sometime in 2020 in terms of testing partner or two.
Okay. Thank you.
[Operator Instructions] Thank you. And our next question comes from the line of Chris Shutler with William Blair.
Christopher Charles Shutler
Hey, guys. Good afternoon. I wanted to gauge your thoughts on the amount and quality of the marketing content that we have on the platform today. I know obviously you're playing catch up with the rapid expansion of the MAUs, but how do you plan to make the offers more targeted over time?
Lynne Marie Laube
This is Lynne. I think that it's a big part of the platform automation that we're doing is to try and use more machine learning to make the offers more targeted and relevant. You are right. If we get an offer from like a large food retailer, it tends to go to a lot of people because everybody eats, but that doesn't necessarily mean it's a well-targeted offer. So, a lot of the automation that we're bringing to the platform is going to enable targeting that quite frankly an individual human can't do. And you're also correct because we are playing a little bit of catch-up on the ARPU side, given the significant MAU scale. We have a lot of new logos that are in the system. We're quite pleased with those, but they're not spending at scale yet. So, you don't have the variety of content that we would ultimately hope for. So I think those are both fair questions and critiques and something we're very, very aware of in a big