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Sep 30, 2022
CRITEO Q3 2022 Earnings Report
Reported solid Q3 2022 results, with progress in integrating Iponweb and launching Commerce Max.
Key Takeaways
Criteo reported a revenue of $447 million, a gross profit of $180 million, and a net income of $7 million for Q3 2022. The company's adjusted EBITDA was $50 million, resulting in an adjusted diluted EPS of $0.53. Criteo also completed the acquisition of Iponweb and launched Commerce Max during the quarter.
Completed the acquisition of Iponweb on August 1, 2022.
Launched Commerce Max, a self-service DSP for enterprise marketers.
Retail Media Contribution ex-TAC grew 32% year-over-year at constant currency.
Criteo's activated media spend by the Commerce Media Platform was over $656 million in Q3, growing 7% at constant currency.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Criteo expects Contribution ex-TAC between $275 million and $280 million and Adjusted EBITDA between $90 million and $95 million for the fourth quarter of 2022. For the fiscal year 2022, the company now expects Contribution ex-TAC to grow by 10% to 11% at constant currency and an Adjusted EBITDA margin of approximately 28% to 29% of Contribution ex-TAC.
Positive Outlook
- Contribution ex-TAC between $275M and $280M
- Year-over-year growth at constant-currency of +11% to +13%
- Includes the contribution from our Iponweb acquisition
- Adjusted EBITDA between $90M and $95M
- Adjusted EBITDA margin of approximately 28% to 29% of Contribution ex-TAC
Challenges Ahead
- Guidance assumes specific exchange rates for various currencies
- Guidance assumes that no additional acquisitions are completed during the fourth quarter of 2022
- 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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