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Jun 30, 2023
CRITEO Q2 2023 Earnings Report
Delivered a strong performance driven by focus on execution and successful launch of Commerce Grid SSP.
Key Takeaways
Criteo reported a decrease in revenue by 5% year-over-year to $469 million, but an increase in gross profit by 8% to $200 million. The company's transformation to a Commerce Media powerhouse continues with the launch of Commerce Grid SSP.
Launched Commerce Grid, a supply-side platform (SSP) for agencies and publishers.
Announced partnership with Integral Ad Science for viewability and invalid traffic (IVT) measurement.
Activated media spend was $0.9 billion, growing 53% year-over-year at constant currency.
Expanded platform adoption to 2,400 brands and 210 retailers.
Revenue by Segment
Forward Guidance
Criteo expects high single-digit to low double-digit growth in Contribution ex-TAC at constant currency for fiscal year 2023. For the third quarter of 2023, Criteo anticipates Contribution ex-TAC between $238 million and $242 million.
Positive Outlook
- High single-digit to low double-digit growth in Contribution ex-TAC at constant currency, including the contribution from Iponweb acquisition for fiscal year 2023
- Adjusted EBITDA margin of approximately 28% of Contribution ex-TAC for fiscal year 2023
- Contribution ex-TAC between $238 million and $242 million for the third quarter of 2023
- Year-over-year growth at constant-currency of +7% to +9%, including the contribution from Iponweb acquisition for the third quarter of 2023
- Adjusted EBITDA between $58 million and $62 million for the third quarter of 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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