Welcome to our dedicated page for Criteo S.A. news (Ticker: CRTO), a resource for investors and traders seeking the latest updates and insights on Criteo S.A. stock.
Criteo S.A. (NASDAQ: CRTO) is a global leader in commerce media, headquartered in Paris. The company specializes in performance marketing technology, enabling e-commerce companies to leverage vast amounts of data for effective customer engagement and conversion. With its predictive software algorithms and deep insights into consumer behavior, Criteo provides highly relevant and personalized advertisements in real-time, optimizing advertising placement decisions based on data and activity on client websites.
Criteo operates in 130 countries, with a strong workforce of over 1,600 employees across 27 offices worldwide. The company partners with more than 8,500 clients and maintains direct relationships with over 11,000 publishers. Its innovative technology allows retailers to launch multichannel and cross-device marketing campaigns in real-time, providing real-time ROI analysis to dynamically adjust marketing strategies. Additionally, Criteo's technology aids retailers in managing ad inventories and enhancing yield optimization.
In Q3 2023, Criteo reported a revenue of $469 million, gross profit of $205 million, and a Contribution ex-TAC of $245 million. The company witnessed significant growth, with a gross profit margin of 44% and a Contribution ex-TAC margin of 52%. For the fiscal year 2023, revenue was $1.9 billion, and net income reached $55 million. Criteo's robust financial performance is attributed to its strategic focus on retail media and cost efficiencies.
Recent achievements include a partnership with Albertsons to enhance its retail media offerings, the introduction of new ad formats like commerce display and sponsored video, and the attainment of MRC accreditation for display rendered impression and click advertising metrics. These initiatives underscore Criteo’s commitment to innovation and transparency in the retail media space.
Looking ahead, Criteo remains focused on sustainable growth, with an emphasis on expanding its Commerce Media Platform and driving shareholder value. The company projects a positive outlook for 2024, with plans to further enhance its market presence and operational efficiencies.
The Mobile Advertising Market, as analyzed by Technavio, is projected to grow by USD 290.16 billion from 2022 to 2027, with a CAGR of 12.54%. The market was valued at USD 197.46 billion in 2017. Major growth drivers include the increase in in-app advertising, video advertisements, and the rise of social media. Notably, the APAC region is expected to account for 49% of market growth. Key vendors include Alphabet Inc., Criteo, and AppLovin Corp.. However, privacy and security concerns pose challenges to market expansion.
Criteo S.A. (NASDAQ: CRTO) reported its Q4 and FY 2022 financial results, revealing a 14% revenue decrease year-over-year for Q4, totaling $564 million, and an 11% decline for the fiscal year, amounting to $2.017 billion. Despite these declines, gross profit increased by 1% in Q4 to $247 million, with a 44% gross profit margin. Notably, free cash flow rose 19% to $200 million in 2022. Criteo targets high-single-digit to low-double-digit growth in 2023 and plans to continue investing in its Retail Media segment. The company repurchased $136 million worth of shares in 2022, reflecting a strong focus on enhancing shareholder value.
LiveRamp (NYSE: RAMP) reported Q3 fiscal 2023 results, achieving total revenue of $159 million, a 13% increase year-over-year. Subscription revenue rose by 14% to $126 million, now 80% of total revenue. Despite a GAAP operating loss of $24 million, non-GAAP operating income improved to $26 million. The company generated $16 million in operating cash flow and extended its share repurchase program by $100 million. LiveRamp anticipates revenue between $595 million and $600 million for fiscal 2023, marking a 13% increase year-over-year. The company maintains a strong customer base with 910 subscription customers and a CRPO of $324 million.
Criteo has entered a multi-year partnership with LTIMindtree to enhance its IT service quality and business agility. This collaboration aims to support Criteo's global operations, focusing on its Microsoft Azure Cloud environment and the development of a unified data platform. In the first year, the engagement has successfully validated LTIMindtree's capabilities in delivering superior digital solutions, promoting innovation and sustainable growth. Criteo's VP of Internal IT highlighted the importance of modernizing their IT systems to thrive in today’s fast-paced business landscape.
Skai has partnered with Analytic Index to enhance marketing strategies through advanced analytics for retail search and sales. This collaboration enables brands and agencies to gain immediate insights into organic and paid search data across major retailers like Amazon, Walmart, and Target, without needing first-party data. Skai's platform will integrate these insights, allowing advertisers to optimize campaigns efficiently. The partnership aims to bridge data gaps created by privacy regulations and complex consumer journeys, providing a competitive edge in the retail media landscape.
InMarket has announced the appointments of Joshua Koran as Chief Product Officer and Neal Bonner as Senior Vice President, Insights and Analytics, aiming to enhance its growth and innovation in consumer-focused digital marketing. Koran, a seasoned expert with over 25 years of experience, will lead product strategy and innovation, previously holding senior roles at companies like Criteo and Yahoo!. Bonner comes from Nielsen and will drive data analytics efforts. These changes are poised to improve Return on Advertising Spend (ROAS) and support InMarket's proven marketing solutions amid evolving economic conditions.
On January 26, 2023, Skai released its Q4 2022 Digital Marketing Quarterly Trends report, highlighting significant growth in ad volume across channels while prices dropped. Total impressions in paid social rose by 57% YoY, and retail media and paid search increased by 45% and 22% YoY, respectively. Despite higher spending in Q4, lower ad prices resulted in reduced growth rates compared to previous quarters. Notably, 79% of paid social advertisers experienced lower CPM rates, and 53% and 48% in retail media and paid search, respectively. The infographic offers additional insights into spending patterns and market dynamics.
Button has driven over $6 billion in mobile commerce and is poised to double this figure in 2023. On January 25, 2023, Button announced the appointment of Michael Montesano as SVP of Engineering, positioning itself for further growth amidst evolving market challenges. The company reported its fastest growth in history, attributed to its cookieless personalization solutions amidst changing privacy regulations. Montesano's extensive experience leading large engineering teams, including at Yahoo and Affinity.co, is expected to accelerate Button's development and enhance its growth strategy. Button continues to be recognized as a leading workplace and growth marketing platform.
Criteo S.A. (NASDAQ: CRTO) is set to announce its fourth quarter and fiscal year results on February 8, 2023. The report will cover performance up to December 31, 2022. Key executives, including Megan Clarken (CEO) and Sarah Glickman (CFO), will host a conference call at 8:00 AM ET to discuss the results. Investors can participate using dedicated dial-in numbers for the US and international callers. The call will also be available via webcast on Criteo's website, ensuring accessibility for stakeholders.
This financial report aims to provide insight into the company's recent performance, aiding investors in their decision-making processes.
Lowe's announced the in-house management of its One Roof Media Network's advertising sales and operations, starting January 31, 2023. This strategic move aims to enhance the customer experience for brand advertisers, improving engagement and ROI. The company has invested in new ad tech and streamlined partnerships, allowing better access to first-party data and faster campaign execution. Serving over 200 clients, Lowe's media network has shown success, with some advertisers achieving returns exceeding double that of industry averages.
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