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Dec 31, 2020
CRITEO Q4 2020 Earnings Report
Criteo's Q4 2020 financial results were reported, exceeding guidance and marking progress in the company's transformation.
Key Takeaways
Criteo's Q4 2020 results exceeded the top end of its most recent quarterly guidance. Revenue was $661 million and Revenue ex-TAC was $253 million. Adjusted EBITDA was $103 million, resulting in an adjusted diluted EPS of $0.98.
Total clients grew 6% year-over-year to 21,460.
Same-client revenue increased 7% year-over-year.
New solutions grew 38% year-over-year to 24% of total Revenue ex-TAC.
Retail Media grew 41% year-over-year.
Revenue by Geographic Location
Forward Guidance
Criteo is targeting low to mid-single digit growth in Revenue ex-TAC at constant-currency for fiscal year 2021 and expects an Adjusted EBITDA margin above 30% of Revenue ex-TAC. For the first quarter 2021, Criteo expects Revenue ex-TAC to be around $200 million and Adjusted EBITDA to be above $60 million.
Positive Outlook
- Targeting low to mid-single digit growth in Revenue ex-TAC at constant-currency for fiscal year 2021.
- Expect an Adjusted EBITDA margin above 30% of Revenue ex-TAC for fiscal year 2021.
- Expect Revenue ex-TAC to be around $200 million for the first quarter 2021.
- Expect Adjusted EBITDA to be above $60 million for the first quarter 2021.
- Executing on its strategic plan and continues to invest in the growth of the business.
Challenges Ahead
- First quarter 2021 guidance implies constant-currency decline of about 4% year-over-year.
- Guidance assumes no acquisitions are completed during the first quarter ending March 31, 2021 and fiscal year ended December 31, 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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