NASDAQ$CRTO

CRITEO SA-SPON ADR · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Reported record results driven by Retail Media and Performance Media growth.

Criteo reported a record first quarter with revenue increasing by 1% year-over-year to $450 million, and net income of $9 million, or $0.12 per share. The company raised its full-year 2024 guidance reflecting confidence in its business strategy and financial strength.

  • Retail Media Contribution ex-TAC grew 34% year-over-year at constant currency.
  • Expanded platform adoption to 2,700 brands and close to 225 retailers and marketplaces.
  • Achieved first accreditation by the Media Rating Council (MRC) for Retail Media measurement.
  • Deployed $62 million of capital for share repurchases in Q1 2024.

Headline financials

Total Revenue

$450M

Previous: $445M+1.1%
EPS

$0.12

Previous: $0.46-73.9%
Revenue ex-TAC Margin

56.4%

No prior period
Adjusted EBITDA

$70.7M

No prior period
Adjusted EBITDA Margin

28.0%

No prior period
Capital Expenditures

-$13.3M

No prior period
Free Cash Flow

$7.24M

Previous: -$11.8M+161.3%
Net Income

$7.24M

Previous: -$11.8M+161.3%
Operating Income

$10.4M

Previous: -$23.5M+144.1%
Gross Profit

$217M

Previous: $182M+19.7%
Cash & Equivalents

$267M

Previous: $306M-12.7%
Total Assets

$2.21B

Previous: $2.19B+0.7%
R&D Expense

$66.7M

No prior period
Stock-Based Comp

$27.3M

Previous: $25.2M+8.4%

Revenue & EPS history

CRITEO · Revenue · Quarterly

$450M

Q1 2024+1.1%vs Q1 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

CRITEO · $49.8M total across 1 segment · Q3 2023

  • Retail Media
    $49.8M+21.0%

Forward guidance

Criteo raised its full-year 2024 guidance.

Tailwinds

  • Expect Contribution ex-TAC to grow high-single-digit at constant currency.
  • Expect an Adjusted EBITDA margin of approximately 31% of Contribution ex-TAC.
  • Expect Contribution ex-TAC between $261 million and $265 million for Q2 2024.
  • Expect year-over-year growth at constant-currency of +10% to +12% for Q2 2024 Contribution ex-TAC.
  • Expect Adjusted EBITDA between $70 million and $74 million for Q2 2024.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

+1.2%

Avg return

Earnings day

+0.6%

Avg return

5 days after

-0.9%

Avg return

30 days after

53%

26 / 49 earnings

Positive

+30.4%

Q4 2017

Best reaction

-21.1%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.9%-19.9%-11.9%
Q4 2025-5.0%-8.6%-9.1%
Q3 2025+5.8%+7.0%-4.8%
Q1 2025-12.2%-17.2%-23.8%
Q4 2024+17.6%+14.9%-4.5%
Q3 2024-21.1%-19.4%-4.4%
Q2 2024+4.8%-1.6%+6.5%
Q1 2024+7.5%+7.5%+11.0%
Q4 2023+23.5%+22.3%+27.6%
Q3 2023-14.6%-14.4%-10.9%
Q2 2023-7.5%-9.4%-11.1%
Q1 2023+2.7%+2.6%+10.4%
Q4 2022+8.9%+1.8%-8.5%
Q3 2022+1.7%-1.1%+4.6%
Q2 2022+8.4%+5.3%+8.4%
Q1 2022+6.7%+0.6%+2.9%
Q4 2021-12.1%-14.8%-31.9%
Q3 2021+28.2%+27.5%+20.4%
Q2 2021-3.1%-5.3%-10.7%
Q1 2021-1.7%-3.4%+8.5%
Q4 2020+26.9%+26.6%+33.8%
Q3 2020+21.1%+17.6%+37.0%
Q2 2020-3.6%+6.1%+1.0%
Q1 2020-0.6%-4.0%+2.6%
Q4 2019-10.1%-7.5%-46.6%
Q3 2019-19.0%-15.4%-13.4%
Q2 2019+7.3%+6.1%+5.0%
Q1 2019-15.3%-13.8%-16.2%
Q4 2018+6.4%+6.3%+7.2%
Q3 2018+7.6%+7.0%+12.9%
Q2 2018-18.2%-17.0%-22.8%
Q1 2018+0.8%+3.4%-6.9%
Q4 2017+30.4%+32.5%+28.3%
Q3 2017-11.7%-9.1%-22.3%
Q2 2017-5.3%-6.2%-7.5%
Q1 2017-4.9%-3.1%-3.9%
Q4 2016+2.3%+7.7%+12.2%
Q3 2016+10.9%+16.3%+5.7%
Q2 2016-2.4%-4.3%-10.6%
Q1 2016-6.6%
Q4 2015+27.8%
Q3 2015-18.9%
Q2 2015-7.6%
Q1 2015+5.6%
Q4 2014+3.7%
Q3 2014-1.8%
Q2 2014+3.1%
Q1 2014+2.8%
Q4 2013-11.0%
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012

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