CRITEO SA-SPON ADR · Q4 2023 earnings

Briefing

Reported record results driven by Retail Media and Marketing Solutions.

Criteo reported a flat revenue year-over-year at $566 million for Q4 2023. Gross profit increased by 12% to $277 million, and net income significantly increased to $62 million, or $1.02 per share. Adjusted EBITDA grew by 33% to $139 million, with adjusted diluted EPS at $1.52. The company's activated media spend was $1.3 billion in Q4.

• Revenue was flat year-over-year, and flat at constant currency, to $566 million.
• Gross profit increased by 12% year-over-year to $277 million.
• Net income was $62 million, or $1.02 per share on a diluted basis.
• Adjusted EBITDA increased by 33% year-over-year to $139 million, with adjusted diluted EPS of $1.52.

Headline financials

Revenue & EPS history

Criteo anticipates mid-single-digit growth in Contribution ex-TAC at constant currency for fiscal year 2024, with an adjusted EBITDA margin of approximately 29% to 30% of Contribution ex-TAC. For the first quarter of 2024, Contribution ex-TAC is expected to be between $243 million and $247 million, representing year-over-year growth at constant-currency of +10% to +12%, and Adjusted EBITDA between $50 million and $54 million.