SINGAPORE – August 3, 2017 – Criteo S.A. (Stock Quote: CRTO), the commerce marketing technology company, today announced financial results for the second quarter ended June 30, 2017.

 

• Revenue increased 33% (or 35% at constant currency^[1]) to $542 million.
• Revenue excluding Traffic Acquisition Costs, or Revenue ex-TAC,^[2] grew 32% (or 34% at constant currency) to $220 million, or 41% of revenue.
• Adjusted EBITDA² grew 38% (or 42% at constant currency) to $54 million, or 25% of Revenue ex-TAC.
• Cash flow from operating activities increased 214% to $60 million.
• Free Cash Flow² increased $37 million to $33 million.
• Net Income decreased 44% to $8 million, driven by the accounting impact of the HookLogic, Inc. (“HookLogic”) acquisition and restructuring costs in China in the second quarter.
• Adjusted Net Income per diluted share² increased 18% to $0.39.

 

Operating Highlights

 

• The year-over-year growth in same-client Revenue ex-TAC accelerated from the prior quarter to 17% at constant currency, the result of better technology and a broader supply network.
• We added a total of 950 net clients, ending the quarter with more than 16,000 commerce and brand clients, while maintaining a 90% client retention across the business.
• Criteo User Device Graph, continued to grow in scale and efficiency, with 76% of Revenue ex-TAC generated from users matched in the graph.
• Criteo Direct Bidder, our next generation header bidding technology, is now connected to over 450 publishers globally, helping increase their average yield by 20% to 40%.
• We are testing several new product initiatives with promising results, including app installs, CRM onboarding for brands and retailers, and Store-to-web retargeting campaigns.

 

 

 

[1] Growth at constant currency excludes the impact of foreign currency fluctuations and is computed by applying the 2016 average exchange rates for the relevant period to 2017 figures.

[2] Revenue ex-TAC, Adjusted EBITDA, Adjusted Net Income per diluted share and Free Cash Flow are not measures calculated in accordance with U.S. GAAP.

 

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