What CardCash’s latest numbers could mean for Giftify

Key Points

• Giftify’s CardCash reported over 14% increase in sell orders from January 1 to March 15 year-over-year, strengthening marketplace inventory.
• 25,508 first-time sellers joined the platform, 18.5% more than the same quarter last year, expanding the supply base supporting buyer demand.
• Increased inventory and seller activity position the platform ahead of the spring buying season.

Giftify (NASDAQ:GIFT) has reported a strong start to 2026 from its CardCash platform, and it could be an early sign that the marketplace is starting to gain real momentum.

From January 1 through March 15, CardCash processed 70,954 sell orders, up from 62,117 a year ago. At the same time, 25,508 new sellers joined the platform, an 18.5% increase year-over-year.

Put simply – more people are selling gift cards on the platform and that’s starting to show up in the numbers.

Growth driven by seller acquisition and marketing execution

A big part of this growth seems to come down to seller acquisition.

CardCash has been investing in digital marketing across paid search and social channels to bring in new sellers, and it looks like that strategy is working.

January alone saw 37,770 completed sell orders, up 9.2% year-over-year, giving the platform a strong start to the quarter.

As more sellers come onto the platform, the amount of available inventory increases. That matters because it improves choice and pricing for buyers.

Why this matters: this is how marketplaces start to compound

This is where things get more interesting from an investor perspective.

In two-sided platforms like CardCash, supply and demand reinforce each other. More sellers increase inventory and pricing competitiveness, which attracts buyers. Increased buyer activity, in turn, makes the platform more attractive for sellers.

This creates the potential for a compounding effect, where growth on one side of the marketplace drives growth on the other.

Management highlighted this dynamic, noting that strong seller growth alongside high transaction values reflects a marketplace becoming more valuable to participants on both sides.

As CEO Ketan Thakker put it:

“When sellers find CardCash to be an attractive platform for liquidating gift cards, and buyers find the selection and pricing compelling… that is the marketplace dynamic that drives compounding growth.”

Supply growth may be setting up the next phase of demand

The timing of this supply expansion could be particularly important.

By building up supply early in the year, CardCash is heading into the spring buying season with a larger inventory base. That could help the platform capture more demand as activity picks up.

The strength on the supply side hasn’t gone unnoticed internally either.

As Head of Sales Tom Ochoa noted:

“That supply expansion is what enables us to consistently meet buyer demand at the transaction values and volumes we are seeing this quarter.”

The growth in new sellers also suggests that supply expansion is not just coming from existing users, but from continued platform reach and acquisition.

The bigger picture for Giftify

Giftify operates across a few different digital platforms, but CardCash sits at the center of its marketplace model.

It connects sellers looking to turn unused gift cards into cash with buyers looking for discounted cards across more than 1,100 retailers.

Alongside this, Restaurant.com focuses on dining and entertainment deals, while Takeout7 provides restaurants with online ordering and marketing tools.

Together, these platforms give Giftify exposure to consumer spending, merchant demand, and marketplace-driven transactions.

What investors should watch next

CardCash’s early Q1 performance highlights strong supply-side momentum, but the next phase will depend on whether this translates into sustained marketplace activity.

Investors will likely focus on:

1. Whether increased inventory drives higher buy-side transaction volumes
2. Continued growth in new seller acquisition
3. The sustainability of marketing-driven supply expansion

If supply growth starts feeding through into stronger marketplace activity, it could support broader revenue growth for Giftify over time.

About Giftify

Giftify (NASDAQ:GIFT ) operates a portfolio of digital platforms across the incentives and rewards ecosystem including CardCash, Restaurant.com, and Takeout7.

CardCash is a secondary gift card marketplace that enables consumers and businesses to exchange unwanted gift cards for cash, while offering buyers access to discounted cards across a network of over 1,100 retailers.

Restaurant.com complements this with a large-scale digital deals platform, connecting users to dining and entertainment offers across more than 184,000 locations nationwide, while Takeout7 provides restaurants with online ordering and AI-driven marketing tools.

Together, these platforms position Giftify at the intersection of consumer savings, merchant demand, and digital marketplace infrastructure, with CardCash acting as a key driver of transactional activity within the ecosystem.

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