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CRITEO REPORTS RECORD FOURTH QUARTER 2024 RESULTS

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Criteo (CRTO) reported strong Q4 2024 results with notable financial achievements. Q4 revenue was $553 million (down 2% YoY), while net income reached $72 million (up 16% YoY). The company's gross profit increased 9% to $301 million, with gross profit margin expanding to 54%.

Key highlights include: Retail Media Contribution ex-TAC grew 25% year-over-year at constant currency in 2024; Performance Media Contribution ex-TAC increased 8%; total media spend reached $4.3 billion in 2024. The company deployed $225 million for share repurchases and increased its buyback authorization to $200 million.

Leadership change: Michael Komasinski has been appointed as new CEO effective February 15, 2025, succeeding Megan Clarken. The company is targeting mid-single-digit growth in 2025.

Criteo (CRTO) ha riportato risultati solidi per il Q4 2024 con importanti traguardi finanziari. Nel Q4, i ricavi sono stati di 553 milioni di dollari (in diminuzione del 2% rispetto all'anno precedente), mentre l'utile netto ha raggiunto i 72 milioni di dollari (in aumento del 16% anno su anno). L'utile lordo dell'azienda è aumentato del 9% a 301 milioni di dollari, con un margine di profitto lordo che si è espanso al 54%.

Punti salienti: il contributo del Retail Media ex-TAC è cresciuto del 25% anno su anno a tasso di cambio costante nel 2024; il contributo del Performance Media ex-TAC è aumentato dell'8%; la spesa totale per i media ha raggiunto i 4,3 miliardi di dollari nel 2024. L'azienda ha destinato 225 milioni di dollari per il riacquisto di azioni e ha aumentato la sua autorizzazione per i riacquisti a 200 milioni di dollari.

Cambiamento di leadership: Michael Komasinski è stato nominato nuovo CEO con effetto dal 15 febbraio 2025, succedendo a Megan Clarken. L'azienda mira a una crescita medio-bassa a un solo dato nel 2025.

Criteo (CRTO) informó sobre resultados sólidos en el cuarto trimestre de 2024 con logros financieros notables. Los ingresos del Q4 fueron de 553 millones de dólares (una disminución del 2% interanual), mientras que la renta neta alcanzó los 72 millones de dólares (un aumento del 16% interanual). El beneficio bruto de la empresa aumentó un 9 % a 301 millones de dólares, con un margen de beneficio bruto que se expandió al 54%.

Puntos destacados: la contribución de Retail Media ex-TAC creció un 25% interanual a tipos de cambio constantes en 2024; la contribución de Performance Media ex-TAC aumentó un 8%; el gasto total en medios alcanzó los 4.3 mil millones de dólares en 2024. La empresa destinó 225 millones de dólares para la recompra de acciones y aumentó su autorización de recompra a 200 millones de dólares.

Cambio de liderazgo: Michael Komasinski ha sido designado nuevo CEO a partir del 15 de febrero de 2025, sucediendo a Megan Clarken. La empresa tiene como objetivo un crecimiento de un solo dígito medio en 2025.

크리테오 (CRTO)는 2024년 4분기 강력한 실적을 보고하며 주목할 만한 재무 성과를 이뤘습니다. 4분기 매출은 5억 5천 3백만 달러(전년 대비 2% 감소)이며, 순이익은 7천 2백만 달러(전년 대비 16% 증가)에 달했습니다. 회사의 총 이익은 9% 증가하여 3억 1천만 달러에 이르고, 총 이익률은 54%로 확대되었습니다.

주요 사항: 2024년 정기적인 환율 기준으로 Retail Media Contribution ex-TAC는 전년 대비 25% 증가하였으며, Performance Media Contribution ex-TAC는 8% 증가했습니다. 총 미디어 지출은 2024년에 43억 달러에 도달했습니다. 회사는 2억 2천 5백만 달러를 자사주 매입에 사용하고 자사주 매입 승인을 2억 달러로 증가시켰습니다.

리더십 변화: 마이클 코마신스키가 2025년 2월 15일부터 새로운 CEO로 임명되어 메간 클락켄을 후임하게 됩니다. 회사는 2025년에 중간 단일 성장 목표를 세우고 있습니다.

Criteo (CRTO) a annoncé de solides résultats pour le quatrième trimestre 2024 avec des réalisations financières notables. Le chiffre d'affaires du Q4 s'élevait à 553 millions de dollars (en baisse de 2% par rapport à l'année précédente), tandis que le résultat net a atteint 72 millions de dollars (en hausse de 16% par rapport à l'année précédente). Le bénéfice brut de l'entreprise a augmenté de 9% pour atteindre 301 millions de dollars, avec une marge brute qui s'est élargie à 54%.

Principaux points forts : la contribution des médias de détail ex-TAC a augmenté de 25% d'une année sur l'autre à taux de change constant en 2024 ; la contribution des médias de performance ex-TAC a augmenté de 8% ; les dépenses totales en médias ont atteint 4,3 milliards de dollars en 2024. L'entreprise a prévu 225 millions de dollars pour le rachat d'actions et a augmenté son autorisation de rachat à 200 millions de dollars.

Changement de direction : Michael Komasinski a été nommé nouveau PDG à partir du 15 février 2025, succédant à Megan Clarken. L'entreprise vise une croissance à un chiffre moyen en 2025.

Criteo (CRTO) berichtete über starke Q4 2024 Ergebnisse mit bemerkenswerten finanziellen Leistungen. Der Umsatz im Q4 betrug 553 Millionen US-Dollar (rückläufig um 2% im Jahresvergleich), während der Nettogewinn 72 Millionen US-Dollar erreichte (ein Anstieg von 16% im Jahresvergleich). Der Bruttogewinn des Unternehmens stieg um 9% auf 301 Millionen US-Dollar, wobei die Bruttomarge auf 54% anstieg.

Wichtige Highlights: Der Beitrag des Retail Media ex-TAC wuchs 2024 um 25% im Jahresvergleich bei konstantem Wechselkurs; der Beitrag des Performance Media ex-TAC stieg um 8%; die Gesamtausgaben für Medien erreichten 4,3 Milliarden US-Dollar im Jahr 2024. Das Unternehmen setzte 225 Millionen US-Dollar für Aktienrückkäufe ein und erhöhte seine Rückkaufgenehmigung auf 200 Millionen US-Dollar.

Führungswechsel: Michael Komasinski wurde ab dem 15. Februar 2025 zum neuen CEO ernannt und folgt damit Megan Clarken nach. Das Unternehmen strebt für 2025 ein mittleres einstelliges Wachstum an.

Positive
  • Net income increased 110% YoY to $115 million in FY2024
  • Gross profit margin improved by 7 percentage points to 51%
  • Free Cash Flow grew 65% to $182 million in FY2024
  • Adjusted EBITDA margin expanded by 500 basis points to 35%
  • Retail Media segment showed strong growth with 25% YoY increase
  • Share buyback authorization increased to $200 million
Negative
  • Revenue declined 2% YoY to $553 million in Q4 2024
  • Performance Media revenue decreased 6% in Q4 2024
  • Cash and cash equivalents decreased 14% YoY to $291 million

Insights

Criteo's Q4 2024 results reveal a compelling transformation story, marked by substantial margin expansion and robust cash generation. The 500 basis point improvement in adjusted EBITDA margin to 35% for FY2024 demonstrates successful operational efficiency initiatives. This is particularly noteworthy given the challenging digital advertising environment.

The standout performer is the Retail Media segment, with 25% YoY growth in Contribution ex-TAC and an impressive 128% same-retailer retention rate. The expansion to 3,500 brands and 225 retailers, including premium names like Harrods, indicates strong market penetration and network effects. This high-margin business is becoming an increasingly important growth driver.

The company's financial health is evident in its cash flow metrics, with $169M in operating cash flow and a strong free cash flow conversion rate of 101% in Q4. The aggressive share repurchase program of $225M in 2024 and additional $200M authorization reflects management's confidence in future performance and commitment to shareholder returns.

The transition to Michael Komasinski as CEO brings valuable AdTech expertise and retail media experience from dentsu and Merkle, aligning well with Criteo's strategic focus on commerce media and AI-driven solutions. The mid-single-digit growth target for 2025 appears conservative given the company's momentum and market position.

Michael Komasinski Appointed as Chief Executive Officer
Deployed Record $225 Million to Repurchase Shares in 2024
Remaining Share Buyback Authorization Increased up to $200 Million
Targeting Mid-Single-Digit Growth in 2025

NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO) ("Criteo" or the "Company"), the commerce media company, today announced financial results for the fourth quarter and fiscal year ended December 31, 2024.

Fourth Quarter and Fiscal Year 2024 Financial Highlights:

The following table summarizes our consolidated financial results for the three months and twelve months ended December 31, 2024:


Three Months Ended

Twelve Months Ended


December 31

December 31


2024


2023


YoY Change

2024


2023


YoY Change


(in millions, except EPS data)

GAAP Results











Revenue

$553


$566


(2) %

$1,933


$1,949


(1) %

Gross Profit

$301


$277


9 %

$983


$863


14 %

Net Income

$72


$62


16 %

$115


$55


110 %

Gross Profit margin

54 %


49 %


5ppt

51 %


44 %


7ppt

Diluted EPS

$1.23


$1.02


21 %

$1.90


$0.88


116 %

Cash from operating activities

$169


$161


5 %

$258


$224


15 %

Cash and cash equivalents

$291


$336


(14) %

$291


$336


(14) %












Non-GAAP Results1











Contribution ex-TAC

$334


$316


6 %

$1,121


$1,023


10 %

Adjusted EBITDA

$144


$139


4 %

$390


$302


29 %

Adjusted diluted EPS

$1.75


$1.52


15 %

$4.57


$3.18


44 %

Free Cash Flow (FCF)

$146


$142


3 %

$182


$110


65 %

FCF / Adjusted EBITDA

101 %


102 %


(1)ppt

47 %


36 %


11ppt

"I'm incredibly proud of what our team has accomplished. This year, we solidified our position as a global leader in Commerce Media and delivered our strongest financial performance to date, marking our third consecutive year of double-digit growth," said Megan Clarken, Chief Executive Officer of Criteo. "As I pass the baton to Michael Komasinski to lead Criteo into its next chapter of AI-driven innovation and growth, I do so with excitement for the Company's future."

Operating Highlights

  • The Company appointed Michael Komasinski as its new Chief Executive Officer, effective February 15, 2025.
  • Retail Media Contribution ex-TAC grew 25% year-over-year at constant currency2 in 2024 and 23% in Q4.
  • Same-retailer Contribution ex-TAC3 retention for Retail Media was 128% in 2024 and 126% in Q4.
  • We expanded our platform adoption to 3,500 brands and 225 retailers, including Harrods.
  • Performance Media Contribution ex-TAC was up 8% year-over-year at constant currency2 in 2024 and up 3% in Q4.
  • Criteo's media spend4 was $4.3 billion in 2024, growing 5% year-over-year at constant currency2 and $1.3 billion in Q4.
  • We deployed $225 million of capital for share repurchases in 2024, and our Board of Directors increased the Company's remaining share repurchase authorization to up to $200 million in January 2025.

 

___________________________________________________

1 Contribution ex-TAC, Contribution ex-TAC margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted diluted EPS and Free Cash Flow are not measures calculated in accordance with U.S. GAAP.

2 Constant currency measures exclude the impact of foreign currency fluctuations and is computed by applying the prior year monthly exchange rates to transactions denominated in settlement or billing currencies other than the US dollar.

3 Same-client Contribution ex-TAC is the Contribution ex-TAC generated by clients that were live with us in a given quarter and are still live with us the same quarter in the following year.

4 Media spend is defined as working media spend allocated to Retail Media campaigns and media spend activated on behalf of Performance Media clients.

Financial Summary

Revenue for Q4 2024 was $553 million, gross profit was $301 million and Contribution ex-TAC was $334 million. Net income for Q4 was $72 million, or $1.23 per share on a diluted basis. Adjusted EBITDA for Q4 was $144 million, resulting in an adjusted diluted EPS of $1.75. As reported, revenue for Q4 decreased (2)%, gross profit increased 9% and Contribution ex-TAC increased 6%. At constant currency, revenue for Q4 decreased (1)% and Contribution ex-TAC increased 7%.

Revenue for the fiscal year 2024 was $1.9 billion, gross profit was $983 million and Contribution ex-TAC was $1.1 billion. As reported, revenue for 2024 decreased (1)%, gross profit increased 14% and Contribution ex-TAC increased 10%. At constant currency, revenue for 2024 increased 0.4% and Contribution ex-TAC increased 11%. Net income for fiscal year 2024 was $115 million, or $1.90 per share on a diluted basis. Fiscal year 2024 Adjusted EBITDA was $390 million, resulting in an adjusted diluted EPS of $4.57. Cash flow from operating activities was $169 million in Q4 and Free Cash Flow was $146 million in Q4. As of December 31, 2024, we had $333 million in cash and marketable securities on our balance sheet.

Sarah Glickman, Chief Financial Officer, said, "In 2024, we delivered record performance and expanded our adjusted EBITDA margin by 500 basis points to 35%. We deployed $225 million of capital for share repurchases, demonstrating our focus on driving shareholder value. As we enter 2025, we believe we are well-positioned to deliver continued growth, robust profitability, and strong cash generation."

Fourth Quarter 2024 Results

Revenue, Gross Profit and Contribution ex-TAC

Revenue decreased (2)% year-over-year in Q4 2024, and decreased (1)% at constant currency, to $553 million (Q4 2023: $566 million). Gross profit increased 9% year-over-year in Q4 2024 to $301 million (Q4 2023: $277 million). Gross profit as a percentage of revenue, or gross profit margin, was 54% (Q4 2023: 49%). Contribution ex-TAC in the fourth quarter increased 6% year-over-year, or increased 7% at constant currency, to $334 million (Q4 2023: $316 million).

  • Retail Media revenue increased 20%, or 21% at constant currency, and Retail Media Contribution ex-TAC increased 22%, or 23% at constant currency, driven by continued strength in Retail Media onsite, new client integrations, an uptick in offsite campaigns and growing network effects of the platform.
  • Performance Media revenue decreased (6)%, or decreased (5)% at constant currency, and Performance Media Contribution ex-TAC increased 1%, or 3% at constant currency, driven by the continued traction of Commerce Audiences as more clients adopt full funnel activation, partially offset by lower Retargeting and AdTech services and supply.

Net Income and Adjusted Net Income

Net income was $72 million in Q4 2024 (Q4 2023: net income of $62 million). Net income allocated to shareholders of Criteo was $71 million, or $1.23 per share on a diluted basis (Q4 2023: net income available to shareholders of $61 million, or $1.02 per share on a diluted basis).

Adjusted net income, a non-GAAP financial measure, was $101 million, or $1.75 per share on a diluted basis (Q4 2023: $91 million, or $1.52 per share on a diluted basis).

Adjusted EBITDA and Operating Expenses

Adjusted EBITDA was $144 million, representing an increase of 4% year-over-year (Q4 2023: $139 million). This reflects higher Contribution ex-TAC over the period and effective cost management. Adjusted EBITDA as a percentage of Contribution ex-TAC, or Adjusted EBITDA margin, was 43% (Q4 2023: 44%).

Operating expenses increased by 10% year-over-year to $206 million (Q4 2023: $188 million), mostly driven by planned growth investments. Non-GAAP operating expenses increased 12% year-over-year to $165 million (Q4 2023: $147 million).

Fiscal Year 2024 Results

Revenue, Gross Profit and Contribution ex-TAC

Revenue decreased (1)% year-over-year, or increased 0.4% at constant currency, to $1.9 billion (FY 2023: $1.9 billion). Gross profit increased 14% year-over-year to $983 million (FY 2023: $863 million). Gross profit as a percentage of revenue, or gross profit margin, was 51% (FY 2023: 44%). Contribution ex-TAC increased 10% year-over-year, or increased 11% at constant currency, to $1.1 billion (FY 2023: $1.0 billion).

  • Retail Media revenue increased 24%, or 24% at constant currency, and Retail Media Contribution ex-TAC increased 25%, or 25% at constant currency, driven by continued strength in Retail Media onsite, new client integrations and growing network effects of the platform.
  • Performance Media revenue decreased (4)%, or decreased (2)% at constant currency, and Performance Media Contribution ex-TAC increased 6%, or 8% at constant currency, driven by strong growth for Commerce Audiences and resilient Retargeting, partially offset by lower AdTech services and supply.

Net Income and Adjusted Net Income

Net income was $115 million (FY 2023: $55 million). Net income available to shareholders of Criteo was $112 million, or $1.90 per share on a diluted basis (FY 2023: $53 million, or $0.88 per share on a diluted basis).

Adjusted net income was $268 million, or $4.57 per share on a diluted basis (FY 2023: $191 million, or $3.18 per share on a diluted basis).

Adjusted EBITDA and Operating Expenses

Adjusted EBITDA was $390 million, representing an increase of 29% year-over-year (FY 2023: $302 million). This reflects higher Contribution ex-TAC and effective cost management. Adjusted EBITDA as a percentage of Contribution ex-TAC, or Adjusted EBITDA margin, was 35% (FY 2023: 30%).

Operating expenses increased 6% year-over-year to $832 million (FY 2023: $786 million), mostly driven by planned growth investments and the partial reversal of the loss contingency related to the CNIL matter in 2023. Non-GAAP operating expenses increased 3% or $20 million to $627 million (FY 2023: $607 million).

Cash Flow, Cash and Financial Liquidity Position

Cash flow from operating activities increased to $169 million in Q4 2024 (Q4 2023: $161 million).

Free Cash Flow, defined as cash flow from operating activities less acquisition of intangible assets, property, plant and equipment and change in accounts payable related to intangible assets, property and equipment, increased to $146 million in Q4 2024 (Q4 2023: $142 million).

Cash and cash equivalents, and marketable securities, decreased $26 million compared to December 31, 2023 to $333 million, after spending $225 million on share repurchases in 2024 (2023: $125 million).

As of December 31, 2024, the Company had total financial liquidity of approximately $782 million, including its cash position, marketable securities, revolving credit facility and treasury shares reserved for M&A.

Criteo Appointed Michael Komasinski as Chief Executive Officer

The Board of Directors of the Company appointed Michael Komasinski as Chief Executive Officer and a member of the Board, effective February 15, 2025. Komasinski will succeed Megan Clarken who, as previously announced, is retiring and will be stepping down from her role as CEO and from the Board. Clarken will temporarily serve in a senior advisory role to ensure a smooth transition.

Komasinski brings over 20 years of AdTech expertise and a proven track record of driving accelerated growth, AI-driven innovation, and scale. Throughout his career, he has gained significant data-driven technology expertise and vast retail media experience. He previously served as CEO of the Americas, President of Global Data & Technology, and member of the Group Executive Management team at dentsu, one of the largest global advertising holding companies. He joined dentsu through its acquisition of Merkle in 2016 and led both the EMEA and Americas regions before becoming Global CEO of Merkle in 2021. He previously served in leadership positions at Razorfish, Schawk Retail Marketing, The Nielsen Company, and A.T. Kearney. Michael is a board member of the Ad Council and serves on the client advisory boards of Meta and Microsoft.

2025 Business Outlook

The following forward-looking statements reflect Criteo's expectations as of February 5, 2025.

Fiscal year 2025 guidance:

  • Mid-single-digit growth in Contribution ex-TAC at constant currency
  • Adjusted EBITDA margin of approximately 33% to 34% of Contribution ex-TAC

First quarter 2025 guidance:

  • Contribution ex-TAC between $256 million and $260 million, or year-over-year growth at constant-currency of +3% to +5%
  • Adjusted EBITDA between $68 million and $72 million

The above guidance for the first quarter and fiscal year ending December 31, 2025 assumes the following exchange rates for the main currencies impacting our business: a U.S. dollar-euro rate of 0.962, a U.S. dollar-Japanese Yen rate of 150, a U.S. dollar-British pound rate of 0.802, a U.S. dollar-Korean Won rate of 1,350 and a U.S. dollar-Brazilian real rate of 5.75.

The above guidance assumes that no additional acquisitions are completed during the first quarter of 2025 or the fiscal year ended December 31, 2025.

Reconciliations of Contribution ex-TAC, Adjusted EBITDA and Adjusted EBITDA margin guidance to the closest corresponding U.S. GAAP measures are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of equity awards compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our share price. The variability of the above charges could potentially have a significant impact on our future U.S. GAAP financial results.

Extension of Share Repurchase Authorization

Criteo's Board of Directors approved an increase of the previously authorized share repurchase program from up to $630 million to up to $805 million of the Company's outstanding American Depositary Shares. As of January 31, 2025, the remaining share buyback authorization was extended to up to $200 million. The Company intends to use repurchased shares under this extended program to satisfy employee equity obligations in lieu of issuing new shares, which would limit future dilution for its shareholders, as well as to fund potential acquisitions in the future.

Under the terms of the authorization, the stock purchases may be made from time to time in compliance with applicable state and federal securities laws and applicable provisions of French corporate law. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability, as determined by Criteo's management team. The program does not require the purchase of any minimum number of shares and may be suspended, modified or discontinued at any time without prior notice.

Non-GAAP Financial Measures

This press release and its attachments include the following financial measures defined as non-GAAP financial measures by the U.S. Securities and Exchange Commission ("SEC"): Contribution ex-TAC, Contribution ex-TAC margin, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Income, Adjusted diluted EPS, Free Cash Flow and Non-GAAP Operating Expenses. These measures are not calculated in accordance with U.S. GAAP.

Contribution ex-TAC is a profitability measure akin to gross profit. It is calculated by deducting traffic acquisition costs from revenue and reconciled to gross profit through the exclusion of other costs of revenue. Contribution ex-TAC is not a measure calculated in accordance with U.S. GAAP. We have included Contribution ex-TAC because it is a key measure used by our management and board of directors to evaluate operating performance, generate future operating plans and make strategic decisions. In particular, we believe that this measure can provide useful measures for period-to-period comparisons of our business. Accordingly, we believe that Contribution ex-TAC provides useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management and board of directors.

Adjusted EBITDA is our consolidated earnings before financial income (expense), income taxes, depreciation and amortization, adjusted to eliminate the impact of equity awards compensation expense, pension service costs, certain restructuring, integration and transformation costs, certain acquisition costs and a loss contingency related to a regulatory matter. Adjusted EBITDA and Adjusted EBITDA margin are key measures used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, we believe that Adjusted EBITDA and Adjusted EBITDA margin can provide useful measures for period-to-period comparisons of our business. Accordingly, we believe that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors and the market generally in understanding and evaluating our results of operations in the same manner as our management and board of directors.

Adjusted Net Income is our net income adjusted to eliminate the impact of equity awards compensation expense, amortization of acquisition-related assets, certain restructuring, integration and transformation costs, certain acquisition costs, a loss contingency related to a regulatory matter, and the tax impact of these adjustments. Adjusted Net Income and Adjusted diluted EPS are key measures used by our management and board of directors to evaluate operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. In particular, we believe that Adjusted Net Income and Adjusted diluted EPS can provide useful measures for period-to-period comparisons of our business. Accordingly, we believe that Adjusted Net Income and Adjusted diluted EPS provide useful information to investors and the market generally in understanding and evaluating our results of operations in the same manner as our management and board of directors.

Free Cash Flow is defined as cash flow from operating activities less net acquisition of intangible assets, property, plant and equipment. Free Cash Flow Conversion is defined as free cash flow divided by Adjusted EBITDA. Free Cash Flow and Free Cash Flow Conversion are key measures used by our management and board of directors to evaluate the Company's ability to generate cash. Accordingly, we believe that Free Cash Flow and Free Cash Flow Conversion permit a more complete and comprehensive analysis of our available cash flows.

Non-GAAP Operating Expenses are our consolidated operating expenses adjusted to eliminate equity awards compensation expense, pension service costs, certain restructuring, integration and transformation costs, certain acquisition and integration costs, and a loss contingency related to a regulatory matter. The Company uses Non-GAAP Operating Expenses to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short-term and long-term operational plans, and to assess and measure our financial performance and the ability of our operations to generate cash. We believe Non-GAAP Operating Expenses reflects our ongoing operating expenses in a manner that allows for meaningful period-to-period comparisons and analysis of trends in our business. As a result, we believe that Non-GAAP Operating Expenses provides useful information to investors in understanding and evaluating our core operating performance and trends in the same manner as our management and in comparing financial results across periods. In addition, Non-GAAP Operating Expenses is a key component in calculating Adjusted EBITDA, which is one of the key measures the Company uses to provide its quarterly and annual business outlook to the investment community.

Please refer to the supplemental financial tables provided in the appendix of this press release for a reconciliation of Contribution ex-TAC to gross profit, Adjusted EBITDA to net income, Adjusted Net Income to net income, Free Cash Flow to cash flow from operating activities, and Non-GAAP Operating Expenses to operating expenses, in each case, the most comparable U.S. GAAP measure. Our use of non-GAAP financial measures has limitations as an analytical tool, and you should not consider such non-GAAP measures in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. Some of these limitations are: 1) other companies, including companies in our industry which have similar business arrangements, may address the impact of TAC differently; and 2) other companies may report Contribution ex-TAC, Contribution ex-TAC margin, Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, Non-GAAP Operating Expenses or similarly titled measures but calculate them differently or over different regions, which reduces their usefulness as comparative measures. Because of these and other limitations, you should consider these measures alongside our U.S. GAAP financial results, including revenue and net income.

Forward-Looking Statements Disclosure

This press release contains forward-looking statements, including projected financial results for the quarter ending March 31, 2025 and the year ending December 31, 2025, our expectations regarding our market opportunity and future growth prospects and other statements that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: failure related to our technology and our ability to innovate and respond to changes in technology, uncertainty regarding our ability to access a consistent supply of internet display advertising inventory and expand access to such inventory, including without limitation uncertainty regarding the timing and scope of proposed changes to and enhancements of the Chrome browser announced by Google, investments in new business opportunities and the timing of these investments, whether the projected benefits of acquisitions materialize as expected, uncertainty regarding international growth and expansion (including related to changes in a specific country's or region's political or economic conditions), the impact of competition, uncertainty regarding legislative, regulatory or self-regulatory developments regarding data privacy matters and the impact of efforts by other participants in our industry to comply therewith, the impact of consumer resistance to the collection and sharing of data, our ability to access data through third parties, failure to enhance our brand cost-effectively, recent growth rates not being indicative of future growth, our ability to manage growth, potential fluctuations in operating results, our ability to grow our base of clients, and the financial impact of maximizing Contribution ex-TAC, as well as risks related to future opportunities and plans, including the uncertainty of expected future financial performance and results and those risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in the Company's SEC filings and reports, including the Company's Annual Report on Form 10-K filed with the SEC on February 23, 2024, and in subsequent Quarterly Reports on Form 10-Q as well as future filings and reports by the Company. Importantly, at this time, macro-economic conditions including inflation and fluctuating interest rates in the U.S. have impacted Criteo's business, financial condition, cash flow and results of operations.

Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

Conference Call Information

Criteo's senior management team will discuss the Company's earnings on a call that will take place today, February 5, 2025, at 8:00 AM ET, 2:00 PM CET. The conference call will be webcast live on the Company's website at https://criteo.investorroom.com/ and will subsequently be available for replay.

  • United States:       +1 800 836 8184
  • International:         +1 646 357 8785
  • France                  080-094-5120

Please ask to be joined into the "Criteo" call.

About Criteo

Criteo (NASDAQ: CRTO) is the global commerce media company that enables marketers and media owners to drive better commerce outcomes. Its industry leading Commerce Media Platform connects thousands of marketers and media owners to deliver richer consumer experiences from product discovery to purchase. By powering trusted and impactful advertising, Criteo supports an open internet that encourages discovery, innovation, and choice. For more information, please visit www.criteo.com.

Contacts

Criteo Investor Relations
Melanie Dambre, m.dambre@criteo.com 

Criteo Public Relations
Jessica Meyers, j.meyers@criteo.com 

Financial information to follow

 

CRITEO S.A.

Consolidated Statement of Financial Position

(U.S. dollars in thousands, unaudited)




December 31, 2024


December 31, 2023

Assets





Current assets:





Cash and cash equivalents


$                         290,693


$                         336,341

Trade receivables, net of allowances of $ 28.6 million and $ 43.3 million at December 31, 2024 and December 31, 2023, respectively


800,859


775,589

Income taxes


1,550


2,065

Other taxes


53,883


68,936

Other current assets


50,637


48,291

Restricted cash - current


250


75,000

Marketable securities - current portion


26,242


5,970

Total current assets


1,224,114


1,312,192

Property and equipment, net


107,222


126,494

Intangible assets, net


158,384


180,888

Goodwill


515,188


524,197

Right of Use Asset - operating lease


99,468


112,487

Marketable securities - noncurrent portion


15,584


16,575

Noncurrent financial assets


4,332


5,294

Other noncurrent assets


61,151


60,742

Deferred tax assets


81,006


52,680

    Total noncurrent assets


1,042,335


1,079,357

Total assets


$                     2,266,449


$                     2,391,549






Liabilities and shareholders' equity





Current liabilities:





Trade payables


$                         802,524


$                         838,522

Contingencies - current portion


1,882


1,467

Income taxes


34,863


17,213

Financial liabilities - current portion


3,325


3,389

Lease liability - operating - current portion


25,812


35,398

Other taxes


19,148


26,289

Employee - related payables


109,227


113,287

Other current liabilities


49,819


104,552

Total current liabilities


1,046,600


1,140,117

Deferred tax liabilities


4,067


1,083

Defined benefit plans


4,709


4,123

Financial liabilities - noncurrent portion


297


77

Lease liability - operating - noncurrent portion


77,584


83,051

Contingencies - noncurrent portion


31,939


32,625

Other noncurrent liabilities


20,156


19,082

    Total non-current liabilities


138,752


140,041

Total liabilities


1,185,352


1,280,158

Shareholders' equity:





Common shares, €0.025 par value,  57,744,839 and 61,165,663 shares authorized, issued and outstanding at December 31, 2024 and December 31, 2023 , respectively.


1,931


2,023

Treasury stock, 3,467,417 and 5,400,572 shares at cost as of December 31, 2024 and December 31, 2023 , respectively.


(125,298)


(161,788)

Additional paid-in capital


709,580


769,240

Accumulated other comprehensive income (loss)


(108,768)


(85,326)

Retained earnings


571,744


555,456

Equity - attributable to shareholders of Criteo S.A.


1,049,189


1,079,605

Noncontrolling interests


31,908


31,786

Total equity


1,081,097


1,111,391

Total equity and liabilities


$                     2,266,449


$                     2,391,549

 

CRITEO S.A.
Consolidated Statement of Operations
(U.S. dollars in thousands, except share and per share data, unaudited)




Three Months Ended


Twelve Months Ended



December 31


December 31



2024


2023


2024


2023










Revenue


$    553,035


$    566,302


$  1,933,289


$  1,949,445










Cost of revenue









Traffic acquisition cost


218,636


249,926


811,806


926,839

Other cost of revenue


33,428


39,750


138,512


159,562










Gross profit


300,971


276,626


982,971


863,044










Operating expenses:









Research and development expenses


67,559


48,402


279,341


242,289

Sales and operations expenses


97,356


97,687


376,090


406,012

General and administrative expenses


41,548


42,219


176,138


137,525

Total Operating expenses


206,463


188,308


831,569


785,826

Income from operations


94,508


88,318


151,402


77,218

Financial and Other Income (Expense)


2,206


(4,498)


3,095


(2,490)

Income before taxes


96,714


83,820


154,497


74,728

Provision for income taxes


24,770


21,769


39,784


20,084

Net income


$       71,944


$       62,051


$     114,713


$       54,644










Net income available to shareholders of Criteo S.A.


$       71,095


$       61,017


$     111,571


$       53,259

Net income available to noncontrolling interests


$            849


$         1,034


$         3,142


$         1,385










Weighted average shares outstanding used in computing per share amounts:









Basic


54,695,112


56,107,042


54,817,136


56,170,658

Diluted


57,640,779


59,687,020


58,605,529


60,231,627










Net income allocated to shareholders per share:









Basic


$           1.30


$           1.09


$           2.04


$           0.95

Diluted


$           1.23


$           1.02


$           1.90


$           0.88

 

CRITEO S.A.

Consolidated Statement of Cash Flows

(U.S. dollars in thousands, unaudited)




Three Months Ended


Twelve Months Ended



December 31


December 31



2024


2023


2024


2023

Cash flows from operating activities









Net income


$      71,944


$      62,051


$    114,713


$      54,644

Non-cash and non-operating items


56,105


60,663


192,118


103,369

           - Amortization and provisions


20,620


16,048


87,754


72,336

           - Payment for contingent liability on regulatory matters


—


—


—


(43,334)

           - Equity awards compensation expense


24,420


20,832


106,613


97,185

           - Net loss (gain) on disposal of noncurrent assets


994


974


1,918


(7,929)

          - Change in uncertain tax positions


(7)


(566)


1,757


(880)

- Net change in fair value of Earn-out


(2,195)


845


1,007


2,344

          - Change in deferred taxes


(9,670)


1,154


(26,040)


(23,588)

          - Change in income taxes


28,710


22,431


19,389


4,424

          - Other


(6,767)


(1,055)


(280)


2,811

Changes in assets and liabilities


41,405


38,626


(48,670)


66,233

           - (Increase) / Decrease in trade receivables


(167,111)


(135,233)


(28,516)


(56,344)

           - Increase / (Decrease) in trade payables


193,703


159,127


(17,160)


87,937

           - (Increase) / Decrease in other current assets


10,881


(8,648)


10,142


(5,616)

           - Increase / (Decrease) in other current liabilities


2,925


24,089


(11,314)


40,952

           - Change in operating lease liabilities and right of use assets


1,007


(709)


(1,822)


(696)

NET CASH PROVIDED BY OPERATING ACTIVITIES


169,454


161,340


258,161


224,246

Cash flows from investing activities









Acquisition of intangible assets, property, plant and equipment


(24,159)


(20,860)


(78,112)


(116,115)

Disposal of intangibles assets, property and equipment


765


1,136


1,476


1,804

Payment for business, net of cash acquired


—


132


(527)


(6,825)

Proceeds from disposition of investment


—


(778)


—


8,847

Purchases of marketable securities


(20,950)


(5,378)


(26,688)


(22,471)

Maturities and sales of marketable securities


5,409


21,236


5,950


26,048

NET CASH USED IN INVESTING ACTIVITIES


(38,935)


(4,512)


(97,901)


(108,712)

Cash flows from financing activities









Change in other financial liabilities


—


235


—


235

Proceeds from exercise of stock options


117


(3)


4,550


1,945

Repurchase of treasury stocks


(67,103)


(22,135)


(224,595)


(125,489)

Cash payment for contingent consideration


(51,983)


—


(51,983)


(22,025)

Other financing activities


2,825


(493)


1,529


(1,920)

NET CASH USED IN FINANCING ACTIVITIES


(116,144)


(22,396)


(270,499)


(147,254)

Effect of exchange rates changes on cash and cash equivalents and restricted cash


(7,422)


7,053


(10,159)


(5,139)

Net increase (decrease) in cash and cash equivalents and restricted cash


6,953


141,485


(120,398)


(36,859)

Net cash and cash equivalents and restricted cash at the beginning of the period


283,990


269,857


411,341


448,200

Net cash and cash equivalents and restricted cash at the end of the period


$    290,943


$    411,341


$    290,943


$    411,341










SUPPLEMENTAL CASH FLOW INFORMATION









Cash paid for taxes, net of refunds


$      (4,606)


$        1,250


$    (40,705)


$    (40,127)

Cash paid for interest


$         (328)


$          (424)


$      (1,360)


$      (1,539)

Non-cash investing and financing activities:









Intangible assets, property, plant and equipment in trade payables and other current liabilities


$       1,758


$        3,346


$        1,758


$        3,346

 

CRITEO S.A.

Reconciliation of Cash from Operating Activities to Free Cash Flow

(U.S. dollars in thousands, unaudited)




Three Months Ended


Twelve Months Ended



December 31


December 31



2024


2023


2024


2023










CASH FROM (USED FOR) OPERATING ACTIVITIES


$ 169,454


$ 161,340


$   258,161


$   224,246

Acquisition of intangible assets, property and equipment


(24,159)


(20,860)


(78,112)


(116,115)

Disposal of intangibles assets, property and equipment


765


1,136


1,476


1,804

FREE CASH FLOW (1)


$ 146,060


$ 141,616


$   181,525


$   109,935


(1) Free Cash Flow is defined as cash flow from operating activities less net acquisitions of intangible assets, property and equipment.

 

CRITEO S.A.

Reconciliation of Contribution ex-TAC to Gross Profit

(U.S. dollars in thousands, unaudited)



Three Months Ended




Twelve Months Ended



December 31




December 31



2024


2023


YoY Change


2024


2023


YoY Change

Gross Profit

300,971


276,626


9 %


982,971


863,044


14 %













Other Cost of Revenue

33,428


39,750


(16) %


138,512


159,562


(13) %













Contribution ex-TAC (1)

$     334,399


$     316,376


6 %


$  1,121,483


$  1,022,606


10 %


(1) Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.

 

CRITEO S.A.

Segment Information

(U.S. dollars in thousands, unaudited)





Three Months Ended






Twelve Months Ended








December 31






December 31






Segment


2024


2023


YoY
Change


YoY
Change
at
Constant
Currency (2)


2024


2023


YoY
Change


YoY
Change
at
Constant
Currency (2)

Revenue


















Retail Media


$         91,889


$         76,583


20 %


21 %


$      258,303


$      209,007


24 %


24 %


Performance Media


461,146


489,719


(6) %


(5) %


1,674,986


1,740,438


(4) %


(2) %


Total


553,035


566,302


(2) %


(1) %


1,933,289


1,949,445


(1) %


0.4 %



















Contribution ex-TAC


















Retail Media


90,228


74,154


22 %


23 %


253,846


203,460


25 %


25 %


Performance Media


244,171


242,222


1 %


3 %


867,637


819,146


6 %


8 %


Total (1)


$      334,399


$      316,376


6 %


7 %


$   1,121,483


$   1,022,606


10 %


11 %


(1) Refer to the Non-GAAP Financial Measures section of this filing for a definition of the Non-GAAP metric.


(2) Constant currency measures exclude the impact of foreign currency fluctuations and is computed by applying the prior year monthly exchange rates to transactions denominated in settlement or billing currencies other than the US dollar.

 

CRITEO S.A.

Reconciliation of Adjusted EBITDA to Net Income (Loss)

(U.S. dollars in thousands, unaudited)




Three Months Ended




Twelve Months Ended





December 31




December 31





2024


2023


YoY

Change


2024


2023


YoY

Change

Net income (loss)


$    71,944


$    62,051


16 %


$  114,713


$    54,644


110 %

Adjustments:













Financial Income (Expense)


(2,206)


4,497


(149) %


(3,095)


2,805


(210) %

Provision for income taxes


24,770


21,769


14 %


39,784


20,084


98 %

Equity awards compensation expense


21,710


21,003


3 %


105,742


99,222


7 %

Pension service costs


(23)


(131)


82 %


495


401


23 %

Depreciation and amortization expense


25,514


23,079


11 %


101,193


99,653


2 %

Acquisition-related costs


(522)


613


(185) %


1,439


1,894


(24) %

Net loss contingency on regulatory matters


—


35


(100) %


—


(21,632)


100 %

Restructuring, integration and transformation costs


2,821


5,729


(51) %


29,847


44,727


(33) %

Total net adjustments


72,064


76,594


(6) %


275,405


247,154


11 %

Adjusted EBITDA (1)


$  144,008


$  138,645


4 %


$  390,118


$  301,798


29 %


(1) Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.

 

CRITEO S.A.

Reconciliation from Non-GAAP Operating Expenses to Operating Expenses under GAAP

(U.S. dollars in thousands, unaudited)




Three Months Ended




Twelve Months Ended





December 31




December 31





2024


2023


YoY
Change


2024


2023


YoY
Change

Research and Development expenses


$        67,559


$        48,402


40 %


$     279,341


$     242,289


15 %

Equity awards compensation expense


9,713


10,465


(7) %


54,628


55,078


(1) %

Depreciation and Amortization expense


13,740


10,258


34 %


51,936


38,485


35 %

Pension service costs


57


(18)


417 %


330


263


25 %

Acquisition-related costs


—


(3)


100 %


—


504


(100) %

Restructuring, integration and transformation costs


412


1,031


(60) %


8,576


9,853


(13) %

Non GAAP - Research and Development expenses


43,637


26,669


64 %


163,871


138,106


19 %

Sales and Operations expenses


97,356


97,687


— %


376,090


406,012


(7) %

Equity awards compensation expense


6,892


4,819


43 %


22,985


21,633


6 %

Depreciation and Amortization expense


3,311


3,140


5 %


12,960


13,267


(2) %

Pension service costs


(110)


(132)


17 %


(32)


(49)


35 %

Restructuring, integration and transformation costs


(26)


2,912


(101) %


5,467


19,923


(73) %

Non GAAP - Sales and Operations expenses


87,289


86,948


— %


334,710


351,238


(5) %

General and Administrative expenses


41,548


42,219


(2) %


176,138


137,525


28 %

Equity awards compensation expense


5,105


5,719


(11) %


28,129


22,511


25 %

Depreciation and Amortization expense


391


477


(18) %


1,716


2,127


(19) %

Pension service costs


30


19


58 %


197


187


5 %

Acquisition-related costs


(522)


616


(185) %


1,439


1,390


4 %

Restructuring, integration and transformation costs


2,435


1,786


36 %


15,804


14,951


6 %

Net loss contingency on regulatory matters


—


35


(100) %


—


(21,632)


100 %

Non GAAP - General and Administrative expenses


34,109


33,567


2 %


128,853


117,991


9 %

Total Operating expenses


206,463


188,308


10 %


831,569


785,826


6 %

Equity awards compensation expense


21,710


21,003


3 %


105,742


99,222


7 %

Depreciation and Amortization expense


17,442


13,875


26 %


66,612


53,879


24 %

Pension service costs


(23)


(131)


82 %


495


401


23 %

Acquisition-related costs


(522)


613


(185) %


1,439


1,894


(24) %

Restructuring, integration and transformation costs


2,821


5,729


(51) %


29,847


44,727


(33) %

Net loss contingency on regulatory matters


—


35


(100) %


—


(21,632)


100 %

Total Non GAAP Operating expenses (1)


165,035


$     147,184


12 %


627,434


607,335


3 %


(1) Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.

 

CRITEO S.A.

Reconciliation of Adjusted Net Income to Net Income (Loss)

(U.S. dollars in thousands except share and per share data, unaudited)




Three Months Ended




Twelve Months Ended





December 31




December 31





2024


2023


YoY
Change


2024


2023


YoY
Change

Net income (loss)


$        71,944


$        62,051


16 %


$     114,713


$        54,644


110 %

Adjustments:













Equity awards compensation expense


21,710


21,003


3 %


105,742


99,222


7 %

Amortization of acquisition-related intangible assets


8,573


8,943


(4) %


34,860


34,980


— %

Acquisition-related costs


(522)


613


(185) %


1,439


1,894


(24) %

Net loss contingency on regulatory matters


—


35


(100) %


—


(21,632)


100 %

Restructuring, integration and transformation costs


2,821


5,729


(51) %


29,847


44,727


(33) %

Tax impact of the above adjustments (1)


(3,686)


(7,469)


51 %


(18,734)


(22,536)


17 %

Total net adjustments


28,896


28,854


— %


153,154


136,655


12 %

Adjusted net income(2)


$     100,840


$        90,905


11 %


$     267,867


$     191,299


40 %














Weighted average shares outstanding













 - Basic


54,695,112


56,107,042




54,817,136


56,170,658



 - Diluted


57,640,779


59,687,020




58,605,529


60,231,627
















Adjusted net income per share













 - Basic


$            1.84


$            1.62


14 %


$            4.89


$            3.41


43 %

 - Diluted


$            1.75


$            1.52


15 %


$            4.57


$            3.18


44 %


(1) We consider the nature of the adjustment to determine its tax treatment in the various tax jurisdictions we operate in. The tax impact is calculated by applying the actual tax rate for the entity and period to which the adjustment relates.


(2) Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.

 

CRITEO S.A.

Constant Currency Reconciliation(1)

(U.S. dollars in thousands, unaudited)




Three Months Ended




Twelve Months Ended





December 31




December 31





2024


2023


YoY

Change


2024


2023


YoY

Change

Gross Profit as reported


$    300,971


$    276,626


9 %


$    982,971


$    863,044


14 %














Other cost of revenue as reported


33,428


39,750


(16) %


138,512


159,562


(13) %














Contribution ex-TAC as reported(2)


334,399


316,376


6 %


1,121,483


1,022,606


10 %

Conversion impact U.S. dollar/other currencies


5,122


—




14,980


—



Contribution ex-TAC at constant currency


339,521


316,376


7 %


1,136,463


1,022,606


11 %

Contribution ex-TAC(2)/Revenue as reported


60 %


56 %




58 %


52 %
















Traffic acquisition costs as reported


218,636


249,926


(13) %


811,806


926,839


(12) %

Conversion impact U.S. dollar/other currencies


1,276


—




9,529


—



Traffic acquisition costs at constant currency


219,912


249,926


(12) %


821,335


926,839


(11) %














Revenue as reported


553,035


566,302


(2) %


1,933,289


1,949,445


(1) %

Conversion impact U.S. dollar/other currencies


6,399


—




24,509


—



Revenue at constant currency


$    559,434


$    566,302


(1) %


$ 1,957,798


$ 1,949,445


0.4 %


(1) Constant currency measures exclude the impact of foreign currency fluctuations and is computed by applying the prior year monthly exchange rates to transactions denominated in settlement or billing currencies other than the US dollar.


(2) Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.

 

CRITEO S.A.

Information on Share Count

(unaudited)




Twelve Months Ended



2024


2023

Shares outstanding as at January 1,


55,765,091


57,263,624

Weighted average number of shares issued during the period


(947,955)


(1,092,966)

Basic number of shares - Basic EPS basis


54,817,136


56,170,658

Dilutive effect of share options, warrants, employee warrants - Treasury method


3,788,393


4,060,969

Diluted number of shares - Diluted EPS basis


58,605,529


60,231,627






Shares issued as at December 31, before Treasury stocks


57,744,839


61,165,663

Treasury stocks as of December 31,


(3,467,417)


(5,400,572)

Shares outstanding as of December 31, after Treasury stocks


54,277,422


55,765,091

Total dilutive effect of share options, warrants, employee warrants


5,896,157


8,471,113

Fully diluted shares as at December 31,


60,173,579


64,236,204

 

CRITEO S.A.

Supplemental Financial Information and Operating Metrics

(U.S. dollars in thousands except where stated, unaudited)



YoY

Change

QoQ

Change

Q4

2024

Q3

2024

Q2

2024

Q1

2024

Q4

2023

Q3

2023

Q2

2023

Q1

2023

Q4

2022













Clients

(5) %

1 %

17,269

17,162

17,744

17,767

18,197

18,423

18,646

18,679

18,990













Revenue 

(2) %

21 %

553,035

458,892

471,307

450,055

566,302

469,193

468,934

445,016

564,425

Americas

(2) %

33 %

274,620

206,816

212,374

198,365

280,597

219,667

208,463

188,288

281,806

EMEA

(3) %

13 %

183,372

161,745

168,496

162,842

189,291

158,756

163,969

160,214

185,125

APAC

(1) %

5 %

95,043

90,331

90,437

88,848

96,414

90,770

96,502

96,514

97,494













Revenue

(2) %

21 %

553,035

458,892

471,307

450,055

566,302

469,193

468,934

445,016

564,425

Retail Media

20 %

51 %

91,889

60,765

54,777

50,872

76,583

49,813

44,590

38,021

59,801

Performance Media

(6) %

16 %

461,146

398,127

416,530

399,183

489,719

419,380

424,344

406,995

504,624













TAC

(13) %

13 %

218,636

192,789

204,214

196,167

249,926

223,798

228,717

224,398

281,021

Retail Media (2)

(32) %

41 %

1,661

1,182

911

703

2,429

1,377

1,072

669

2,719

Performance Media

(12) %

13 %

216,975

191,607

203,303

195,464

247,497

222,421

227,645

223,729

278,302













Contribution ex-TAC (1)

6 %

26 %

334,399

266,103

267,093

253,888

316,376

245,395

240,217

220,618

283,404

Retail Media (2)

22 %

51 %

90,228

59,583

53,866

50,169

74,154

48,436

43,518

37,352

57,082

Performance Media

1 %

18 %

244,171

206,520

213,227

203,719

242,222

196,959

196,699

183,266

226,322













Cash flow from operating activities 

5 %

195 %

169,454

57,503

17,187

14,017

161,340

19,614

1,328

41,964

125,455













Capital expenditures

19 %

24 %

23,394

18,899

21,119

13,224

19,724

15,849

45,519

33,219

14,522













Net cash position

(29) %

2 %

290,943

283,990

291,698

341,862

411,257

269,857

298,183

380,663

448,200













Headcount

(2) %

0.1 %

3,507

3,504

3,498

3,559

3,563

3,487

3,514

3,636

3,716













Days Sales Outstanding (days - end of month) (2)

4 days

(3) days

62

65

64

66

58

61

69

74

71


(1)  Refer to the "Non-GAAP Financial Measures" section for a definition of this Non-GAAP metric.


(2) From September 2023, we have included Iponweb in our calculation of Days Sales Outstanding. Days Sales Outstanding excluding Iponweb would have been 71 days for the same period.

 

Cision View original content:https://www.prnewswire.com/news-releases/criteo-reports-record-fourth-quarter-2024-results-302368227.html

SOURCE Criteo Corp

FAQ

What were Criteo's (CRTO) Q4 2024 earnings per share?

Criteo reported Q4 2024 diluted EPS of $1.23, up 21% from $1.02 in Q4 2023. Adjusted diluted EPS was $1.75, a 15% increase from $1.52 in the same period last year.

How much did Criteo (CRTO) spend on share repurchases in 2024?

Criteo deployed $225 million for share repurchases in 2024, compared to $125 million in 2023.

What was Criteo's (CRTO) Retail Media performance in Q4 2024?

Criteo's Retail Media revenue increased 20% YoY in Q4 2024, with Contribution ex-TAC growing 22%. The segment benefited from continued strength in onsite retail media, new client integrations, and increased offsite campaigns.

Who is the new CEO of Criteo (CRTO) and when does the transition occur?

Michael Komasinski has been appointed as Criteo's new CEO, effective February 15, 2025, succeeding retiring CEO Megan Clarken.

What is Criteo's (CRTO) growth target for 2025?

Criteo is targeting mid-single-digit growth in 2025.
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CRTO Latest News

Jan 22, 2025
CRITEO TO ANNOUNCE FOURTH QUARTER AND FISCAL YEAR 2024 FINANCIAL RESULTS ON FEBRUARY 5, 2025
Jan 14, 2025
Criteo Appoints Michael Komasinski as Chief Executive Officer
Nov 18, 2024
CRITEO HOSTS RETAIL MEDIA INVESTOR UPDATE
Oct 30, 2024
CRITEO REPORTS RECORD THIRD QUARTER 2024 RESULTS
Oct 29, 2024
Criteo Announces New Collaborations to Enhance Flexibility and Connectivity for Retail Media Networks

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